Is Buying a Salvaged Title Car a Good Deal
A car with a salvaged title is any car that meets the criteria for a permanently branded title. Often, it is a car with substantial accident damage or one that is totaled (more than 75% damage to the car). Watch this clip with Charles from humblemechanic.com to learn if it’s worth it to purchase a car with a salvaged title.
In short, the answer is yes — with some caveats.
Charles encourages drivers to make a careful assessment on a vehicle-by-vehicle basis.
To determine if a salvaged title car, like a truck salvage, is worth the investment: run a CARFAX report on the vehicle, do an initial visual inspection, schedule a professional, pre-purchase inspection, and make a phone call to your insurance company. A CARFAX report will give you critical information, including where the car was purchased and titled. Most importantly, it may include information about the vehicle’s maintenance history. Eyeball the car for any significant gaps in its frame, and spend $100 to $150 on a pre-purchase inspection for a more in-depth look at the vehicle.
Charles makes a final, important note to call your insurance company. Some insurance companies only offer certain types of insurance on cars with salvaged titles. Some may not insure them at all.
A car with minor mechanical damage is worth the savings. Cars with major structural damage, on the other hand, are not worth the risk. Making significant repairs or alterations to the structural integrity of a vehicle may affect its safety and how well it performs in the event of a collision.