As reported by The National Association of Fleet Administrators (NAFA), the average cost of repairing physical damage to the vehicles that meet with an accident annually is around $1000. However, we often come across accidents that damage vehicles so severely that they cannot be repaired. Owners of these vehicles should look to sell these vehicles off at a salvage auction to get a good deal on them. This is a better option than trying to find an individual buyer on your own by contacting local dealers.
Bear in mind: Every damaged vehicle has value
Despite being severely damaged, a vehicle is still valuable. If your car is totaled or salvaged, do not sell it for scrap as you can get a better deal at an online auction. By the way, your car may not look bad after an accident and it can still be salvaged if the cost of repairs equals 51% of the car’s current market value.
If this is the case, your vehicle can fetch a good value as many used-parts traders would be willing to pay a good price for it. One of the most important factors that determine the value of a salvaged vehicle is the parts of the car that are intact and the value of these parts if they are sold individually.
Which salvage vehicle auction to choose?
In order to sell salvage vehicles, look for an online auto auction site specializing in selling these vehicles. These auctions allow interested buyers to place preliminary bids on vehicles. Representatives of an auto auction company try to win the car at a live auction for the highest bidder.
You can find some salvage auction sites that update nearly 50 thousand new vehicles every week for their customers. Reputed online auto auction sites offer the following:
- Thousands of vehicles from hundreds of live vehicle auctions worldwide
- Search feature that allows you to filter by make, model, year of manufacture, and other factors
- Free membership with a refundable security deposit for bidders
- Online bidders need not have a dealer’s license to bid on cars
With such a convenient online bidding procedure for damaged auto auction, you can sell salvage vehicles with ease and get a good price for them too.