Rebuilt Cars for Sale
Regardless of generally negative associations with the salvage history (not always justified), rebuilt cars for sale can be a great investment.
Below are a few tips that will hopefully help you catch a good deal on rebuilt title vehicles for sale.
Find out why it was totaled out
Firstly, not all rebuilt cars were severely damaged or even had suffered any damage at all. Find out what exactly caused the car to get a salvage \ total loss title. For example, many salvage cars had sun-screens and audio-systems or wheels stolen, without any constructive or safety impairment. Such cars can be a great choice.
Which rebuilt salvage title cars for sale are the best?
The most simple answer is those that were salvaged due to anything but substantial or severe damage (including accident, water, fire, etc). I owned 2 rebuilt cars, my current one is about 7 years old and I'm happy with it. When buying it, I had a similar option but 4 years younger at insignificantly higher price (a 1.5 year old car at that time). However, my choice was the older one. WHY? Because if you are buying a newer rebuilt title car, there is a big chance that the damage was severe and affected functional parts and safety, as compared with the same rebuilt title car but a few years older. The insurance company passes "totaling sentence" upon the car based on estimated repair costs to its actual value ratio (typically, when the ratio exceeds 75%, that figure depends on and varies from the state). For the insurer, the value of the car depends on the age (ACV or actual cash value) and the cost of repair works is approximately the same all the time because it comprises labor (which is really costly and always costs about the same) and parts. As well as the cost of new parts. The older the damaged car, the smaller estimated repair costs should to be for to get a salvage title.
Learn to read, understand and analyze car history reports.
Sometimes, they may do you a great service and not just once. For example, a car with a clean title may show up a salvage title in its history, which magically disappears when the car changes the state of resistrations. That's not normal and could be an instance of title washing scam. The normal and legal thing is getting a rebuilt cars for sale after being reconstructed. However, the brand should remain forever (ideally). Also, note that vehicle history reports show up not just critical problems, like salvage title, odometer scam, etc, but just also the facts that in the opinion of the report providers need your attention, such as registration in storm area or fleet use.
Carfax, in particular, will position such data as a warning. For example, if the vehicle has been registered in New Orleans, the report will through up a warning flag about storm area registration and flood damage hazard. This, however, doesn't mean that the car was water damaged, it just was registered there. But the warning may actually scare potential buyers away and the vehicle may sit at the dealership for months waiting for the new owner. A vehicle with such "warnings" in the history can be a great deal. Just think a little, analyze, negotiate. However, a vehicle that changed a "storm area" state immediately after a natural disaster is also a warning sign. It could be uninsured and the owner is trying to get rid of "sunk junk".
Inspection Is the Last Vote
Needless to say, rebuilt cars for sale should be inspected by a trusted mechanic. Hire one if none of your friends are mechanics or if your are buying a vehicle via an online auctions like Copart, Manheim, Iaai, etc. Even if the mechanic is your friend or good acquaintance don't grudge and reward him with $100 for his (or her) efforts. Maybe he could have spent that time with his family and is really doing you and your a big favor (then he may need the money to buy an apologize gift for this wife). Don't lead him into thinking about getting done with inspection as soon as possible. You want the inspection to be done as thoroughly as possible.
Shop around for insurance BEFORE you buy of even have that rebuilt car inspected.
I wrote it on other pages, but, again - shop around for insurance in advance - this is FREE and takes just a few minutes of your time to make a call or submit an online request. People buy rebuilt title cars because of the low price, but insurance may devour all your gained from buying the car really cheap. Make a list of a few rebuilt title cars and get insurance quotes for all of them, and then compare which one is really the most advantageous. Only after that you hire the mechanic to inspect the rebuilt title vehicles for sale you like (financially as well).