Salvage auto auctions, contrary to common belief, feature much more than totaled vehicles. These auctions also include repossessed cars that have been taken back from their owners, usually due to non-payment of auto loans. Most of these cars need little to no repairs and/or maintenance to get back on the road. The best part is, despite being in great condition, repossessed cars are sold at remarkably low prices. That said, it is important that you don’t make a buying decision in a haste. To help you get the maximum bang for your buck, in this article, we present some handy tips for buying repossessed cars at salvage auctions.
Know Your Needs
When you are able to buy a top-of-the-line luxury sedan at the price of a station wagon, it is really easy to let your priorities go astray. Although salvage auto auctions let you buy premium vehicles at affordable prices, you must keep in mind the long-term maintenance costs you’ll have to bear post purchase. Generally, premium cars require higher upkeep. It is, therefore, essential to think about the things that you actually need from your car, and then make a buying decision.
Inspect the Car
Not all that glitters is gold, and that maxim couldn’t be truer when it comes to repossessed automobiles. While, on the surface, most of them look fairly clean and worth the asking price, you must take the time to get a thorough inspection done by a professional. Though it may add a small bit to the overall cost of acquisition, it is essential to ensure you don’t end up overpaying. To inspect a vehicle, check VIN number free, chassis number, and engine number, as well as cross-examine them with those provided in the vehicle’s documents. For those who require a precise checkup on car features, we recommend Window Sticker Lookup by VIN.
Check Vehicle Records
Before you put your money down, it is essential to check all vehicle history records, including its insurance, service, and car ownership history. ClearVin also provides lien record checks for used cars. This will give you a good idea of how well the car has been maintained since it left the showroom, as well as how many hands it has passed through before being repossessed. Although most repossessed cars have just one previous owner, you can find more than a few listings with more than one owner. Also, don’t be scared to use third-party services and find out a little more about your desired used vehicle. For example, many online solutions offer license plate check tools that can help you identify a vehicle’s owner or verify the authenticity of its registration.
Landing a deal on a repossessed car can be extremely rewarding, provided you exercise the required due diligence. As a trusted auto auction platform, Salvagebid is committed to helping you get unmatched value for your money, which is the reason why we not only provide detailed information and multiple high definition photos of the vehicles on auction, but also have a team of customer support experts to help you at each step of the way. Register today and take your pick from an array of cars for sale by auction. If you have any questions, simply call: +1 (360) 347-1300, Monday to Friday, 6am – 4pm (PST) or email at [email protected].