Selling Salvage Title Cars?
A salvaged vehicle is an official designation for a vehicle that has been damaged to the point that insurance companies have deemed it to be a complete loss. This typically means that the vehicle was totaled or wrecked beyond the point where repairing it would exceed the vehicle’s value. The insurance company will attempt to recoup its costs by selling the vehicle to an auto repair company where the vehicle is sold as a salvage title. Each state has its own set of conditions for designating a salvage car meaning:
- Hail damage
- Flood damage
- Vandalism
- Stolen
- Missing parts
Cars do not always have to be physically ruined to earn a salvage title designation. Often theft recovery cars are designated as salvaged because the insurance company has already paid the owner out and is attempting to recoup costs. You can read more about how cars get salvage titles here!
Do People Buy Salvage Title Vehicles?
When people hear the term ‘salvaged title’ they tend to be a little bit wary and wat to stay away from it. But salvaged titles can be a really good buy; they don’t come with that new car smell, but for the most part, they’re just as effective or more so than used cars. This is because they’ve been repaired and refitted. They also tend to be much cheaper than other cars you can purchase, even if they require a little bit of maintenance.
Not every car that has been damaged is deemed a salvage title. There are actually a wide variety of titles being used to designate cars.
Other types of car titles:
Clear/Clean title
A clear title means that a car has no lien or creditor levy attached to it, so future buyers can rest assured that there are no questions of ownership.
Junk title
A junk title typically means that a title has previously been sold to a junkyard where it was possibly dismantled for scrap metal or spare parts. These aren’t suitable for driving but better for major repair projects. A lot of cars that end up in junkyards have a dismantled title instead, meaning it has solely been used for spare parts.
Rebuilt title
This designation is typically reserved for vehicles that have been majorly overhauled and rebuilt. These vehicles sometimes require an extra inspection requirement to shed their salvage title status for a rebuilt status.
The Issues with Owning A Salvage Title Vehicle
Purchasing a salvage title vehicle can be a good choice for the right person since its affordable and generally has been looked at by a mechanic recently. There are some things buyers should be aware of before choosing to purchase one, however. You may find it difficult to ensure the vehicle, and the insurance you get won’t be as comprehensive as the insurance for a rebuilt title. You can also never upgrade a salvage title to a clean title, so there is no way to improve on the car’s value without taking the time, energy, and expense to upgrade it to a rebuilt title if you’re looking to sell.
Selling A Salvage Title Vehicle
There are several ways to sell a vehicle with a salvage title if you want to get yours off your hands. Most of them are through various marketplaces our auctions:
Craigslist
Craigslist is a great place to start when selling anything. It is free to use, and post advertisements and it has a huge user base. There is even a Craigslist salvage cars section to make the job even easier. The only problem with Craigslist is that it is unregulated, and you have to carry out all of the sales operations yourself, including negotiations, making contact, and guaranteeing the sale. You can read more about selling your salvage car on Craigslist here!
Dedicated salvage title marketplaces
There are also quite a few online marketplaces that explicitly sell salvage cars. These sites have commissions attached to the sales but make up for it by acting as the middleman and handling the sales issues for you.
Auto Auctions
Auto auctions are great places to pick up or unload salvage cars. There aren’t too many specific salvage auctions, but most used auto auctions have a fair number of salvaged cars. Normally these auctions require you to pay in cash upfront and take the vehicle as is without having any type of inspection.
Salvage yard
Salvage yards are great places to sell a salvaged vehicle. They can be a bit tedious though as you will have to visit the yards in person to see if they want to buy your ride. Read more about salvage yards and junkyards here!
Sell Your Salvage Title to Copart Direct!
If you don’t want to go through the hassle of selling your vehicle yourself, try selling to us at Copart Direct! We’re one of the most dependable and trustworthy companies that buy salvage vehicles and we do just about all the work for you. You can get rid of your car online with 3 easy steps:
Contact us at (888) 883-9981 or go to our online instant quote form
Get a guaranteed quote.
Wait for our free auto salvage pick up and get paid.
It is the easiest way to go about selling a salvage title vehicle.
Go here and learn more about how to sell your car or vehicle and learn why Copart Direct is the best option!