What exactly does it mean when you get a rebuilt car title? Should you or should you not buy a car with a salvage or rebuilt title? Naturally, pros and cons exist when considering buying any car, not just a salvage/rebuilt car. When a car has been in an accident, recovered from theft, or damaged in a way that the insurance company has deemed too expensive to fix, it becomes a salvageable car. Therefore, the car gets a salvage title.
A salvaged car can provide different opportunities for a car owner. If a buyer decides to purchase a car, but can’t afford the price of the desired car with low miles, one might want to consider buying a vehicle with a salvage title. Many times a buyer can get a salvaged car that they normally would not be able to afford if the car had a clean title such as a BMW, Porsche, or another type of desired car. A salvaged title can be bought at a fraction of the cost of a clean titled car and still have the benefits of providing a luxurious ride. If a buyer decided to purchase a rebuilt titled car, one should do so with the notion of keeping the car for awhile, as selling the car may prove difficult. As a buyer, you may save money on the purchasing end, however, as a seller, you’ll likely lose money. Definitely consider buying a salvage title if you would like to drive the car until the end of it’s life.
While the car was deemed too expensive to fix by the insurance company, this does not mean the car is unsafe or unreliable once it’s fixed. Since a salvaged car can often be bought at 40% cheaper than the original sticker price, the cost to fix the car may be worth it to the potential buyer, as the damage could just be cosmetic damage to the body. Of course, another option is fixing the car yourself. If a buyer does decide to acquire a rebuilt titled car that requires repair, then one should estimate the cost of repairs by getting an independent inspection from a reputable mechanic. If the cost to repair the car outweighs the cost of the new car, obviously the car is not worth it. Once a salvaged title, always a salvaged title. No matter how clean the car may be from repairs, a legal way to get a clean title for the car does not exist.
Before offering a price for the car, the buyer should find out why the car was salvaged and what kind of damage was sustained. Cars can sustain damage from various things such as natural disasters, car theft, car accidents and other scenarios. If a buyer finds out that a car sustained water damage and the damage is the cause of the salvaged title, one may want to keep looking for another car as there may be hidden and costly electrical damage. A car may have smoke damage which unfortunately results in a smell that may be hard to get rid of. However, theft cars can be good investments as long as the thief did not strip the car of accessories, interior, or wheels.
Buying a salvage car is a great way to save money, while getting a vehicle you have always dreamed of owning. However, the car buyer needs to make sure they gather all the information before investing in the purchase of a salvage car, just like any other car. Happy hunting.