Is buying a car with a salvage title ever a wise investment? Resale, Insurance, etc.?

Answer 1

Its a very risky investment, check this web page http://www.usedcartips.org/AUCTIONS.html from there navigate to MAIN PAGE and watch a 3min video about flood cars you will get blown away...

Answer 2

that's positive, yet you ought to evaluate right here: a million) Is it secure? Your mechanic could have the skill to tell you for particular, yet each and every so often salvaged vehicles are assembled from areas pulled from an excellent sort of diverse autos. which could lead on them to very hazardous. notwithstanding, maximum human beings of salvaged titles are purely positive. 2) Resale would be poor. you already understand that i understand, notwithstanding that's properly worth repeating. 3) you will no longer have the skill to finance the vehicle - a minimum of no longer devoid of a few form of expert appraisal. different than that, they do no longer look to be plenty diverse than commonly used vehicles. purely verify you're getting a competent deal and not paying too plenty. i might additionally advise you pull a CarFax or AutoCheck to work out in case you could decide what sort of salvage the vehicle is. If it replaced into underwater in New Orleans a pair of years in the past, you probable opt to bypass.

Answer 3

Unless you are buying a high dollar collector car such as @Barret-Jackson Auction, automobiles are not an investment. They are an expense. If you get a good car at a good price and drive the wheels off of it, you have re-couped your "investment"

I had a friend that re-habbed cars and they were very well prepared, but this does depend on the conscious of the person doing the selling/repair work.

Use good judgement and go for it.

Answer 4

i think it's very risky, unless just using it for parts, or u get a really good deal on it, so much that u don't care how long it stays in one piece, i could see selling a car w/ a salvage title as being a major headache 9 out of 10 ppl would probably not be interested, so it could be hard to get rid of...

Answer 5

Most cars with salvage titles got that way due to flood damage. Remember Hurricane Katrina? All those flooded-out cars were hit with salvage titles. Buyer beware...

I personally would only salvage them for parts or buy one if I planned to majorly rebuild it.

Answer 6

never, when buying anything with a salvage title the only person that comes out losing is you.