Finance USA

Aug 14 2017

Copart Auto Auctions, Salvage Cars, Motorcycles and Trucks Websites Network #classic #auto #insurance

#salvage auto auction

Welcome to American Cars Auction

What is a Salvage Car?

In the United States a vehicle is branded as a salvaged when is destroyed or receives damage of 75% or more of the retail value of the vehicle at the time the damage occurred. This rule can vary from state to state since some will declare salvaged a vehicle when the damage is as low as 60% or as high as 85%.

These vehicles can be branded after an accident, because of storm damage (flood or hail), vandalism or theft. The insurance companies assess the damage and conclude whether or not it is cheaper for them to pay to have the vehicle repaired or to simply sell it damaged As-Is. The insurance companies are interested in recouping as much of the settlement as they can as quickly as possible, therefore these vehicles are sold below their market value.

These vehicles are purchase by small and medium rebuilding dealerships and body shops that are able to repair them and sell them at very reasonable prices, because they don’t have the high end cost of labor and repair that the big dealerships have. Obviously there are also some of these salvage cars which have been damaged beyond repair and have been deemed total loss or junk vehicle, junk yards and auto parts dismantlers buy these vehicles and sell them as used parts.

Since in many countries a vehicle with a branded american title can be imported with not problem at all, there is also a huge market for these vehicles overseas. In many foreign countries the cost of labor is very cheap and there is not state regulations prohibiting the rebuilding and driving of vehicles which have been declared total loss in the United States, in addition, these vehicles can be sold in these countries at prices that give the importer a great benefit and the new owner the satisfaction of having a late model vehicle at a fraction of the price.

Now at our Auction Network we have salvage cars for sale that can also be purchased by individuals looking for a donor vehicle, a vehicle for a restoration project, a car, bike or truck to rebuild it for personal use or even to sell it for a profit in a foreign country always buying at very discounted prices, a privilege only reserved for used auto dealers, auto parts dismantlers, rebuilders and wrecking yards now available to the general public, no dealer license required.

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