Maybe you have heard that salvage cars aren’t a good purchase and that you can lose money, but this is completely FALSE! It’s not always a bad idea, if the price is comfortable and competitive in terms of the market, it is an excellent decision. In this blog we give you some recommendations so that you can acquire a salvage vehicle:
Ask for the Carfax from the vendor:
It’s important that you know the history of your car, and have knowledge about the last thing that happened to it, and how. The Carfax will show you all of the accidents in which the car has been involved, so that no one can take advantage of you.
Demand an inspection:
It is okay to demand an inspection of the vehicle or to ask for a guarantee that the car will pass necessary inspections. Just because a car passed inspection 3 years ago doesn’t mean that it will pass now, so it is important to renew this.
Note: If this car doesn’t pass state inspections, you won’t be able to register it in your name, and so you won’t be able to use it which would make your purchase useless.
Ask for a BILL OF SALE:
We recommend that you ask for a Bill of Sale, since you can’t be sure that you won’t have problems with the vendor. If you can get it notarized that would be even better, since that way you will have the best supporting documentation. You should make sure that the Bill of Sale includes the license of the vendor and their signature.
Keep in mind:
- Research what else you will need to register your car with the DMV or MVA (Motors and Vehicles) in addition to the title of the vehicle.
- Compare insurance prices on the salvage vehicle that you want to register.
It is important that as a future owner, you ask for proof of oil changes and safety inspections. That way you will know about how well the owner has cared for the property.
We hope that this information has been useful. We also invite you to read: Old cars – Is it better to abandon them or to sell them as junk cars?
AAQ Services, Inc. is an MVA licensed agency that specializes in auto insurance, taxes, MVA processes, auto tag and title registrations for all vehicles, and more. Call us at 240-670-7611 or email us at info@aaqservicesinc.com and one of our experts will respond to all of your questions.
