Pros of buying cheap salvage cars include reduced cost and possible great deals, while cons include severe damage, title problems and insurance problems. Salvage vehicles are vehicles that have been totaled by insurance companies for various reasons.
The major advantage of buying salvage cars is the reduced cost. These vehicles generally cost far less than similar vehicles that have not been involved in major accidents. It is sometimes possible to restore the vehicle to full working condition for much less than the cost of a similar used car.
A second advantage of salvage cars is that it is possible to find a vehicle that the insurance company totaled for a reason other than the vehicle costing more to repair than its actual value. Insurance companies sometimes total vehicles as part of a settlement to avoid paying medical costs, large claims or other damage claims. Shoppers can buy these vehicles for a bargain and they may not cost much to repair.
One disadvantage of buying salvage vehicles is that some vehicles are damaged beyond reasonable repair. Frame damage is an especially big problem that makes the car expensive and difficult to repair. Additionally, it is not possible to register severely damaged vehicles under the buyer’s name if the car does not pass a safety inspection.
The title of a salvage indicates that the vehicle is salvaged or totally rebuilt no matter how good the repair job is and may make the vehicle difficult to sell. Some insurance companies also do not insure salvage vehicles, or they limit the coverage of the vehicle.