Are you planning to buy a car? Do you not have the required money to buy a brand new car? In that case, you should approach a car dealer who advertises salvaged cars for sale.
Saving Money by Buying Salvaged Cars
People buy salvage title cars mainly they save money. A salvaged car costs at least thirty to forty percent less than one with a clean title. The first thing you need to watch out for is whether the state allows salvaged cars on its roads. If the state authority does, you can save a lot of money provided you have one of the following habits.
# You drive the car for many years
Once a car gets tagged with the salvage title, it remains forever. If you purchased it for sixty percent of its normal value, you can sell it at sixty percent of its normal value. The more you drive the car; the penalty at the time of selling is lesser. This means that by driving it for longer, you can save more money. On the other hand, if you have a tendency to sell your car every two or three years, the amount of money you save while buying, gets reduced at the time of selling. This is because you cannot resell a car at a very high price and so, you will have to take less.
# You prefer to buy older cars
The expense incurred while repairing a new car is almost as same as repairing an old car. This means that a new car needs to be considerably damaged before it is totaled by an insurance company, because it is still pretty valuable. On the other hand, in spite of being in good condition, an old car has much less value. An insurance company will have no problem in totaling it.
This indicates that you can save around thirty to forty percent on an old car that has salvage title and has only minor problems. It is thus; better to stay away from salvaged cars that are not more than 3 to 4 years old.
# You are willing to repair the car to a certain extent
If you are adept at understanding cars and find your way around a wreck yard, you can find yourself a car that is not fully repaired. This is going to save you more than thirty to forty percent money. You will then have to calculate the expenses you need to incur for the repairs you will have to do. You will deduct this amount from the sixty to seventy percent before you offer an amount to the salvage car dealer. Buying a salvaged car is not very difficult if you are aware of the discount rates. The dealers might hope that you are a novice as far as buying damaged cars are concerned and offer you something around fifteen to twenty percent discount. Once you buy the car, add some effort and knowledge to get the best buy you have ever had.
It is thus, imperative that you keep abreast of the latest information and market rates of salvaged cars.
Author Bio Vanessa Stein is a popular car expert who has composed many articles and blogs regarding used cars, especially salvage cars for sale.