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February 20, 2017

The Rules of Buying Damaged Cars from Insurance Companies

If you are looking for salvaged cars the best place to find them is the insurance company. They usually have a collection of cars damaged by accidents or some natural calamity. The cost of repair at times exceeds the market value of the car. It is then taken up by the insurance company. Stolen cars are also part of their collection. You will get both old and recent models of cars. They keep imported cars too. These are usually sold at a cheaper price but you may not get total coverage of the insurance for your car. There are certain steps you should take if you wish to buy a salvaged car. You must have your cash ready before you go to buy the car. Make an estimate of how much you may need for the car and stay prepared because there are times when the payment needs to be made immediately. Payment options can be enjoyed from certain car auctions. The next step is to keep a close watch for car auctions where you will get to see a wide variety of cars ready for sale. Before buying the car have a good look at it. There are insurance companies that sell their damaged cars to auction houses. If you have problems attending an insurance auction you can do so online. Either participate live or submit a bidding prior to the auction, per your suitability. Having done this, prepare a contract for the seller before you make any payments. Instead of verbally discussing the terms and conditions, have them written down so that there is no chance of swindling. The contract will prevent the seller from going back on his words. Remember to take all the necessary documents and an application for the name transfer, from the owner. As you make your payment make sure you have all the important papers with you. Having acquired these then proceed to take possession of your new car. There are certain auctions that export cars to other states too. In that case, you should check out the different modes of delivery. At times cars are shipped off to other states at a minimum cost. Before you attend an auction make certain that it is meant for the public because some auctions are meant only for the insurance companies and authorized auto dealers. At times, you may need to pay a fee for the entry. Once you purchase a car at an auction you do not have the liberty to reject it even if you find the vehicle to be defective

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