How Junk Yards And Salvage Yards Can Be A Source Of Bargain Vehicles
Junk yards offer vehicle owners a way to pick up cheap spare parts for their vehicle, and they also provide part of a method for getting a bargain vehicle in the first place. This is all made possible by the system which is in place for disposing of vehicles which are no longer roadworthy. This system is laid down by the state legislature and enforced by the insurance companies. When a vehicle has gone beyond the stage where it can be repaired, it is given a title of “scrap.” This title is permanent, and the vehicle can never be driven on a public road again.
The salvage title operates in a different way, and this can be the key to picking up bargain vehicles. When there is an accident, and a vehicle is damaged, the insurance company has to assess the expense of repairing the damage. If this estimate is above a certain percentage of the value of the vehicle, the insurance company will write the vehicle off. That percentage is typically around 75%, but it can vary from state to state. Salvage title vehicles are not permanently banned from public roads.
When a vehicle has been written off as salvage, the insurer then has the job of trying to get back what they can on the vehicle as quickly as possible. Occasionally, they will get lucky, because the owner will decide to buy out the insurance company and repair the vehicle at their own expense. More usually, the vehicles go for auction at specialist trade auctions which are not open to the public. The public can still bid at these auctions by appointing third parties to bid for them.
The salvage yards represent an opportunity to pick up a bargain vehicle, because most of the lots will sell at trade prices to dealers who are looking to make a profit. These prices are low, because many of the vehicles will be written off as unusable. The parts from these vehicles which are still in working order will be used to repair other vehicles. If you can pick up a vehicle from a car salvage auction, you can also repair it with parts from a junk yard.
Modern junk yards are far removed from those of the past. No longer are you expected to spend hours searching through the worn out wrecks of old vehicles looking for something you might possibly be able to use, as modern computer systems make everything easily available to you. The yards know that they can make quick and easy sales by making the buying process as easy as possible, and that is exactly what they do. You can easily pick up a bargain vehicle by buying from a salvage auction, and then repairing it with spares from junk yards.
|Lincoln Mother of Son with Congenital Heart Disease Gets Free Vehicle - NBC Nebraska|
Maximising Value from Salvage Assets - SYS-CON Media (press release)
Commission OK's zoning change for salvage yard
The Torrance County Commission meeting was stacked high with agenda items on Sept. 24 due to an emergency cancellation of the Sept. 10 meeting...
The Ins and Out of Auto Salvage: A Beginner's Guide - Automoblog.net (blog)
AUTO RACING: Give the gift of speed - The Times Herald
It may not always be the case but you should assume the links on this website are affiliate links which means that we will be compensated if you choose to buy at some point in the near future. Please accept our thanks for your support.