Auto Salvage Auctions Overview
Auto salvage auctions are almost always wholesale auto auctions that market to car dealers, auto body shops and mechanics. Those who are able to utilize or restore part or all of vehicles found at salvage auctions already have a target audience in mind when a purchase is made. Many of these type of auto auctions are now online as well as on site in many locations. The ability to inspect the vehicles a day or so before the bidding closes is generally the rule.
There are often many cars, trucks and commercial vehicles offered that are from auto insurance companies. These vehicles were damaged from flood, theft, fire, collision or almost any other reason. The insurance company likely replaced a similar vehicle to their customer and is looking to reduce losses by selling at an auto salvage auction.
Sometimes there are vehicles form banks and lending institutions. These cars and trucks have been repossessed in most cases. Rental car companies and charities also sell vehicles at these auto auctions offering salvage cars.
Buyers at salvage auto auctions range from scrap metal companies to rebuilders and everyone in between. Often these cars and trucks are exported to other countries where they are rebuilt for a tidy sum.
Before the vehicles come to the auction they are cleaned and detailed to present as well as possible. A bidder would be wise to be aware of this process. A car can clean up nice and still be a mess, buyer beware. Any auction is there to obtain the best possible price for the merchandise available. If the car you are looking at took a wrong turn into the Mississippi River and traveled between two states- you may never know.
The process by which one would participate at an auto salvage auction is quite simple. In most cases it is necessary to register with the auction company and provide some sort of fee to be sure if you bid and win, you will be capable of completing the transaction.
Bidding is now done online live. You will often be viewing detailed photographs, and reading detailed descriptions and history of the salvage autos in the auction. A dealer license will likely be needed to obtain these vehicles, if you are a private party, you may have a dealer purchase on your behalf for a predetermined fee.
Transportation after the sale is another consideration. Most of these venues offer pick-up and delivery of the vehicles included in their auto auctions. There is junk car removal services and commercial towing available depending on your needs.
Keep in mind that there will be fair amount of work that goes into the reclamation of any vehicle. Those are great hobby projects and offer parts and components to rebuild something you may already have. Sometimes you get a decent vehicle right of the block. Auto salvage can be an interesting way to obtain the vehicle you seek- and save you a bundle to boot.