Every day, the things we need to survive are getting more and more expensive. Cars are no exception. When shopping for a car, it’s tempting to want to buy a salvage title car.
A salvage title car is a vehicle that is significantly damaged, usually because the car was in an accident. The insurance companies deem these cars a total loss, paying off the original owner and putting a new brand on the car. The insurance companies have the deed, and they’re trying to get rid of the car. Before giving out the money, there are some pros and cons to consider
- Significantly cheaper than buying a regular car. The salvage title labels keep dealers from selling it at a regular price.
- A buyer could get lucky. Not all salvage titles look like they’ve been crushed up like a soda can. Some salvage titles have little damage to them at all, making the purchase of these cars a steal for the frugal-minded.
- Some of the damage could be overlooked. While it’s tempting to want to jump into a salvage title car, but you could be overlooking internal damage if you jump into buying one right away. If you’re considering buying one, it’s a good idea to have a mechanic look at the car so you know what needs to be fixed before you buy the car.
- You can’t get rid of the salvage title brand. Once your car is labeled salvage title, it’s there forever. Meaning if you spend a lot of money fixing it up then going to sell it, you’ll have to ask for a lower price.
- It’s hard to get a salvage title car insured.
If you know what you’re getting into, and have knowledge of cars, a salvage title could be the perfect steal!