Purchasing a salvage title vehicle allows you to save a considerable amount of money. It also allows you to purchase a higher end vehicle that might normally be out of your budget. If you do the repairs yourself or even simply purchasing the parts yourself can save you even more money.
New and clean title vehicles are more expensive. The higher purchase price also results in more sales tax and more finance charges over the life of the loan. When you purchase a Salvage/Repairable vehicle, you are dodging the depreciation that occurs as soon as you drive a new vehicle off the dealership lot. A new car drops thousands of dollars in value as soon as you purchase it and will lose approximately 15% per year thereafter. A salvage title vehicle on the other hand will suffer less from depreciation due to the lower initial purchase price.
Yes, you can! We have never heard of any insurance company who wouldn't insure a salvage title car. Once you have completed your state inspection by your local DMV, your vehicle will be issued a “Rebuilt” or “Prior Salvage” title.
YES, once the vehicle has been titled in your name and inspected by your home state (if required), you will be able to sell it the same as you would any clean title vehicle and it will transfer just as easy in any other state you might sell it to without any additional inspections.
Yes, a salvage title vehicle does have a lower resale value but you are also paying a lower purchasing price upfront.
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