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The cost of a new car or even a recent model used car today is enough to frighten away many people who would like to upgrade from their existing car and especially people looking to buy a car for the first time. New cars cost tens of thousands of dollars and popular used car models, especially those with good fuel economy, hold their value well over the years, so it is difficult for buyers on tight budgets to get a reliable car at an affordable price. For some people, rebuildable repairable cars are the answer to this problem. For an amateur mechanic or someone who knows a lot about cars and is a good negotiator, buying a wrecked car and restoring it, or having it restored by a competent auto shop, is a good way to get a good car for a low price.
Look for Rebuildable Repairable Cars Online
Online registered auction brokers such as Auto Bid Master are good places to look for wrecked or abandoned cars that can be rebuilt. Dealing with an auction company can simplify the buying process while offering the chance to get a great deal on a car. The auction house can lead you through the bidding process, handle payments, and properly process the title transfer for you, all for a very reasonable commission.
Many insurance companies have contracts with online auction sites for getting rid of cars that they have taken possession of after declaring them total losses and settling claims with owners. A wrecked car that is declared a total loss is often in easily repairable condition. If the insurance company estimates that the repair cost will exceed a certain percentage of the car’s theoretical market value, they will simply pay the owner the market value of the car and take title to it rather than taking the time and expense to repair it.
Due Diligence Will Save You Money
If you decide to buy a wrecked car to rebuild, take the time to learn everything you can about the car before you bid on it. Be sure to get an estimate on the cost of shipping the car to you. Car shipping can be arranged by Auto Bid Master. If at all possible, visit the auction yard and physically inspect the car you are interested in. Look for signs of frame damage that might make repairs unreasonably expensive, and look for water damage or corrosion if the car was salvaged from a flood zone. Work up a detailed estimate of what it will cost you to rebuild the car, including parts, legal paperwork, and labor, and keep that cost in mind as you set your bid price for the car. If you shop carefully and keep an eye on costs, you can come out way ahead by buying a rebuildable repairable car and restoring it, compared to the price of a similar used car in running condition that you buy from a dealer or private seller.