The US salvage car market is huge. Many budget buyers come to salvage yards or auction floors to look for bargains on a variety of makes and models including classic cars. While some people purchase salvage cars so they can repair and resell them at a profit, others seek to add to their collection, especially when it comes to classic car auctions. Regardless of the spark that ignites your motivation to invest in a salvage classic car, it is important to know the various types of salvage titles.
Categories of Salvage Titles
There are basically two categories of salvage cars: “repairable” and “parts only” salvage cars. As implicit from the name, repairable salvage cars are cars that have been damaged as a result of flood, theft, fire, collision, and other hazards. However, the damaged cars for sale can be restored back on the road even if it had been declared a total loss. On the other hand, cars that have received “parts only” salvage title are irreparable due to heavy damage. Such vehicles are taken apart and their good parts sold as used or salvage car parts.
Subcategories
Other notable subcategories that you will come across when shopping salvage classic car auctions include:
- Stolen salvage car:
Cars damaged as a result of theft are given this type of salvage title when they are recovered by law enforcement agencies such as the police. They are towed to salvage yards to be sold to people looking to buy salvage vehicles. Recovered stolen cars that are damaged beyond repair can be dismembered. Good parts are given a salvage title and sold to used car part dealers or individuals looking for such parts at affordable rates.
- Scrap Salvage Cars:
These cars are damaged completely, as they cannot be repaired. They can only be used as scrap metal, and therefore sold at inexpensive prices. If your car is completely damaged in an accident or other unforeseen peril like floods, you can still make a little money by selling it as scrap to salvage yards.
- Unrecorded salvage cars:
Dealers of salvage cars for sale sometimes sell salvage cars that are currently not registered as they were involved in accidents and sustained different kinds of damage.
Final Words
Buying a salvage car is a veritable means of getting a great deal on your next car. SalvageBid is a leading new and classic cars auction site that gives you access to an abundance of options. This makes it easy to find something that meets your budget, style, and needs. Browse through our selection of classic cars available on auction and Register to start bidding. To get answers to your questions or discuss your requirement with experts, call us today at +1 360 347 1300 or fill out or contact form and we will get back with you as soon as possible.