Should You Buy a Car From a Salvage Yard?
It may seem obvious that you can sell your junk car to a salvage yard, but can you also buy cars from salvage yards? The answer is yes, you can! Salvage yards often take junk cars they’ve bought, repair them, and then resell them for well below market cost. And if you’re looking to repair your car rather than buy a new one, a salvage yard is a great place to check out for parts. Before you drive straight to your nearest salvage yard, though, it’s smart to know what to expect and what you’ll be getting. Salvage yards are not selling cars in perfect condition, but what they have may still be perfect for you. In this blog we’ll cover what you should know before going in to a salvage yard.
What are the benefits of buying a car from a salvage yard?
The biggest benefit of buying a car from a salvage yard is the price. Salvage yards buy junk cars, repair them, and then resell them at a low cost. Often you can get a car for much lower than its actual market value. Buying from a salvage yard is also a great way for an old car to be recycled and given a new life.
If you’re looking to fix up an old car or learn how to repair a vehicle, it’s smart to start with a cheap car so you can play around, make repairs, and not hurt your wallet.
How much should I pay for a salvaged car?
As a rule, a repaired, salvaged car is worth 60% of the same car that is not salvaged. So if you use the Kelley Blue Book value as a starting point and multiply that by 0.6, you’ll have a good idea of what you should be paying for a salvaged car. However, this rule only applies if the car is completely repaired. If the car will still require repairs or has damage, negotiate for a lower price. If the seller is trying to charge more than the car is worth, look elsewhere. These cars were salvaged for a reason and are likely not worth a splurge.
Is it safe to buy a car from a salvage yard?
Buying a car from a salvage yard is safe as long as you do your research. Often the cars at a salvage yard are repaired junk cars, and may still require some repairs or maintenance to perform well. If you are not well versed in automobiles, bring along someone who knows their way around cars and can give you advice on which vehicles are worth your money.
Even when not buying from a salvage yard, it’s always important to buy from reputable sellers and get a vehicle history report from Carfax or AutoCheck. It’s also smart to get an independent mechanic to come with you or take a look at the vehicle before you buy it to ensure that it will run. If you live in a state with safety and emissions requirements, make sure the car will pass the requirements.
If you’re looking to sell or buy, Junk Car Traders is there for you. Contact us today at (844) 951-1030.