A salvaged car is the one which has been severely busted in an accident and is declared irreparable by the insurance company. The insurance company on declaring these cars pays you the maximum market value of the car and auctions it off to the highest bidders. These vehicles are issued a special title. These salvage title vehicles hold values that are way less than any used car even if it is in a perfectly operational state.
While most car dealers and private sellers are supposed to inform you about the salvage title, some exploitative sellers avoid giving this necessary information. Here are some salvage car issues to avoid:
Title washing issue:
This issue also referred to as lemon laundering, is often done by car dealers and personal sellers. Many salvage title cars are bought by recyclers and are repaired in such a way that they appear to be normal used cars. You can save a good amount of money by purchasing a salvage title car only if you’re well aware of this issue. Some states have a slightly casual approach to the car documentation. Sellers tend to get their cars registered in several states which results in eliminating the salvage title of the car. The seller is then able to sell the salvage title car at the price of any normal used car.
The best way to avoid being a victim of this issue is a little internet research. By paying a few dollars we can help you get detailed information about the car and its title history. Avoiding this issue can save you a thousand dollars on your purchase as salvage titled car is way cheaper than any normal used car.
Quick sale and lost title issue:
Quick sale and lost title issue is a widely used and popular issue among personal sellers. Though this issue is avoided by used cars dealers personal sellers can trick you into it very easily. This is how they go about the issue- personal sellers sometimes offer you a huge discount on the vehicle giving an excuse of losing the title and not having enough time to get a new one. They offer you some documents that authorize you to get a new title for the car but they do not provide any information about the salvage title. Though you get a good discount on the vehicle, you still pay a tad too much for a salvage title vehicle. To make sure you don’t be a part of this issue, do your internet research before you purchase any vehicle from a private seller.
Next time whenever you plan to purchase a second-hand vehicle, make sure you are well-informed. Have a good analysis of the car that you’re going to buy to avoid any kind of issues and unfair practices that are done by private sellers and used car dealers. Be a smart and happy buyer!