Salvaged cars: Best choice for a family car

Are you fond of that red plush sports car in your neighbor’s garage? Buying the same is not in your budget? Don’t worry as even you can own the same car from a salvage auction. Salvaged cars are those that are too damaged to be considered for repair. However, you can find a considerable price difference between a new and a damaged one. Porsches, Lamborghinis and BMWs are some of the most desired cars but as their prices are quite high, a limited number of people can afford them.

There are countless occasions when we love to gift something to our beloved family, whether it’s a graduation present or a birthday or an anniversary. It is one of those memorable moments that you want to keep sealed in your heart and never let go off. Ask your grandparent how they felt when they bought their first family car. The feeling won’t be any less exciting when you buy your own.

Salvaged cars are sold on online auctions and even at open auctions where thousands bid for their favorite ride. BMWs are an all-time favorite family luxury car, but if you really want to treat your family special, try to cut a deal and spend the savings on remodeling a salvaged car. These cars are not only the best choice for savings, but they also give the owner a chance to modify their automobiles as per their choice with the extra money they have saved.

Nowadays, some reputable websites conduct online auto auctions. The user bids on the cars of their choice and the best bid wins the car. The process is simple and with the option to access the online auction site from the comforts of your home, bidding for a salvaged car could not be any easier.  It not only gives you a chance to get your desired car but also keeps a check on your pocketbook.

A Smooth Ride for Car Lovers

Cars never fail to impress us Americans! Right from my childhood, I too have been in love with cars. After graduating from the university, I realized it was time for me to own one. Obviously, money was short as I was yet to start working. My dad said he would pitch in an equal amount as my summer job savings. Well, it added up to about $3,000!

My best option was to look for a used car. My search started with checking the classifieds, meeting used car dealers and asking friends for recommendations. It was way too much work with too little results. The cars on sale were either too expensive, or just not up to my expectations. While I was looking around, a friend suggested that searching online for used cars would be a great idea! I was like, “Online, you mean cars online?” Well, I know people shop online, but searching for one online seemed to be a daunting task!

I spoke to more friends and realized that nowadays more and more people are searching for cars online. What really caught my attention was that they also save thousands of dollars in the process! Looking at the reviews on various forums, it seemed that online car auctions were a real hot topic.

I decided to register on a reputed website for used car auctions. There were a variety of used cars listed on the website. The portal showed damaged, water damaged, totaled, repossessed as well as clean titled cars. My eyes were set on a Ford Mustang on auction. It was categorized as a repossessed vehicle. The images and Vehicle Identification Number (VIN) gave an impression that the car would run well after some repairs. Moreover, at a price tag of $1800, it was just what I was looking for.

Next, I paid the security deposit and placed a bid. At the end of the preliminary auction, I found myself to be the highest online bidder; hence I was represented by the registered professionals of the online auction site at the live auction. Finally, I received an email notifying me of my win at the auction. I had never thought that it would be so easy (and exciting) to buy my Salvage Ford Mustang online. The website even had suggestions for shipping the car. I simply couldn’t stop gushing once it was there in my driveway!

The best part about the whole process was that it was all online. Without even stepping out of my home, I searched, bid on and won my car. This is definitely the best way to shop for used cars.

Selling and Buying “Totaled” Cars

A car is “totaled” after any damage, such as that caused by a wreck, if the insurance company that covers it decides that its repair would not be financially feasible. To put it simply, if the total cost of repairs is higher than 50% of the price that the vehicle can fetch after repairs, it is totaled. The insurance company decides about this based on the car’s value, number of miles on it, and the actual repair costs.

Since the recession of 2008, the number of totaled cars has increased despite a progressively lesser number of fatal accidents in the same period. Recession has affected the value of cars and if you are confused about what to do if your car is totaled after a wreck, here are some ideas you can consider:

Take the check if you can afford another car
Insurance companies in different states have varying formulae and cost thresholds to determine whether a car is totaled or not. While some states leave it to the insurer’s discretion, others specify 51% of a car’s value as the threshold for the totaling of damaged cars. Remember, a totaled car may not actually look like a wreck but its damage can still be worth more than 50% of the car’s market value. Under these circumstances, it might be a good idea to take what your insurance company is willing to offer for it. Now, you can buy a new car, or even a salvaged one in good running condition.

Consider totaled cars at a damaged cars online auction
Many people buy wrecked cars that were totaled by insurance companies. You will be surprised to find that some totaled cars may not look great but are in good drivable condition. Look for these at an online damaged cars auction. Consider this: fixing a long scratch on a car can cost $5000 to make it look as good as before, but it may only cost $600 for repairs to make it usable.

On a reputable online auction for totaled cars, check out the damage type section of available cars. Look for cars that are in drivable condition with only superficial damage, or minor engine damage that can be repaired by your trusty mechanic friend at a lesser price.

Real Steel and Heavy Crashes

Truck Crashes in the US

Recently I watched a video on a slew of truck accidents that happened in 2013. It was scary to see those heavy trucks get overturned or ram into other vehicles on the street. The reasons behind those accidents were loss of control, wrong turns, changing lanes, slippery roads, etc. The footage gave a clear picture of how people’s lives could be at stake due to such mishaps. There have been instances of injuries and even casualties all over the US. In addition to that, thousands of vehicles were either damaged or completely destroyed.

The Truck that brought a bridge down

Apart from the truck accidents mentioned above, a specific accident that took place in May of 2013 created quite a stir. A truck crash caused the Washington State bridge to collapse! It happened when the truck rammed into one of the bridge girders and a portion of the structure gave way. This sent two vehicles plunging into the Frigid River from the bridge. The official investigation revealed that the bridge fell down due to the impact of the crash on the support beams.

What Statistics Say

According to a report published in March of 2013 by the U.S Department of Transportation, thousands of commercial vehicles including heavy trucks and large buses were damaged during the previous year, resulting in the loss of millions of dollars.

When the transport authorities tried to find out the reasons behind these accidents, they identified the following accident-causing actions:

• Speeding
• Head on collision
• Overtaking
• Lane change
• Lost Control/Running off the road
• Intersection
• Maneuvering

What Happens to the Damaged Vehicles?

Vehicles that are damaged due to a crash are towed away and later the insurers determine the losses. If the estimated repair cost gets too high, the insurance company declares it as ‘totaled’ or a ‘total loss’. Thereafter, these vehicles are sold through auctions.

It’s a good opportunity for individuals or companies to buy these commercial vehicles at low prices. Some of the vehicles may have minor dents or rear/front end damages, and some could be in a badly damaged condition. According to the damage type, buyers can carry out the repair job and put them back on the roads. One of the easiest ways to own a vehicle is to participate in an online auto auction. The registration and bidding process is simple and convenient. Make sure you do research on the auction portal before taking part in the bidding.