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When you are trying to figure out how you can afford to buy a car in today’s difficult economy, you have probably looked at used car lots and car dealerships in your area and found most of the inventory to be out of your price range. If that is the case, you might want to look at car salvage auctions online. An online auction broker site like Auto Bid Master has thousands of listings for vehicles that range in condition from lightly used to severely wrecked. If you watch carefully, you can probably find a car that fits your needs and pay much less than you might expect for it. Many car dealers will send their used car inventory to auction lots for fast turnover, not expecting to get great prices for the used cars they take as trade-ins.
A Wrecked Car Might be the Best Deal
While you are watching online car listings, don’t completely eliminate the idea of buying a wrecked car and having it rebuilt. Insurance companies settling damage claims after an accident will compare the cost of repairs to the blue book value of a car. If the cost of repairs is too high a percentage of the car’s theoretical value, the insurer will declare it a total loss rather than going to the time and expense of repairing it. But, a total loss to an insurance company might be a good deal for you if you can do the repairs yourself or have a reliable auto shop do them for you. You might be able to watch car salvage auctions online and find a car that you can buy for very little money and have fixed up for just a little more.
Consider all the Costs Involved Before You Bid
If you decide to try to buy a wrecked car online, take the time to get a good idea of all of the costs that you will incur before the project is complete and you can drive your car around town. Make sure the laws in your state allow you to get a title for a car that has been salvaged. Visit the auction lot, if it is near your home, and actually inspect the car you might want to buy. Look for damage that is not listed in the auction description. Get your local body shop to give you a firm bid on repairs for the wreck you want to buy. Include the cost of transporting the car to you from the auction site if you are the winning bidder. Don’t forget to figure in the transactions fees you will pay the auctioneer for handling the deal for you and processing the title paperwork. After you know how much the entire project will cost you, you can decide how much to bid on the car. Place a bid that is low enough for you to end up with a great deal if you are the winning bidder.
After you've won the auction, be sure to set up shipping for your car if it isn't a local buy. If you have your car shipped through the extensive network of Auto Bid Master, you could save hundreds on the cost of shipping.