Are Salvage Title Trucks Worth It Buying at Auction?
Buying a salvage title can seem like a gamble. You could end up with a great vehicle that runs well and pay pennies on the dollar for it, or you could end up with a vehicle that needs much more work than you anticipated.
Buying a salvage truck is much less of a gamble compared to buying a salvage car, though, because of a trucks utilitarian nature. A truck can be used as a work vehicle and does not need to have a spotless appearance.
If a truck has decent towing power and runs well, the look of it is not important. Because of this, people tend to find buying a salvage truck at auction a worthwhile purchase.
What is a salvage title?
A salvage title vehicle has usually been damaged and in some cases declared a loss and totaled by the owner’s insurance company. When this occurs, its clean title becomes a salvage vehicle. When a vehicle is totaled, the insurance company writes the vehicle’s owner a check and the vehicle’s title then becomes the property of the insurance company, who wants to get rid of it.
Buying a truck at auction could save you big
For many, the appearance of a salvage truck is much less important compared to its ability to function well. Auctions for salvage cars and trucks often have vehicles with cosmetic damage or that lack certain enhancements or luxuries that otherwise don’t affect the use of it.
If an insurance company decides to total a vehicle, they make the decision based on whether the vehicle’s damage exceeds 70 to 80 percent of the vehicle’s actual cash value. If indeed the damage significantly exceeds the vehicle’s actual cash value, the car will be totaled regardless of its ability to keep functioning regularly or not.
Truck auctions that sell salvage trucks with minor damage, which affects something you may not find necessary, can end up offering you a great deal if you’re looking to find a truck at a price that a traditional auto dealer would never offer.
A truck for leisure can offer major savings as well
If you need a second vehicle for commuting around town and don’t need it for towing purposes or transporting goods, then purchasing a truck with a majorly damaged bed could be a great way to purchase a truck for next to nothing.
If you bid on a vehicle at a truck auction that is no longer able to be used for the purpose it was made for, you may find many people aren’t interested in bidding on it which could end up making it a steal.
Sometimes it takes a little patience to find a great deal on a salvage truck, but with some luck you could find a reliable salvage truck at a rock-bottom price that helps you get where you need to go, or maybe just gives you a chance to give your main vehicle a break.
The Bottom line
Any salvage truck listed for sale from a vehicle auction website could be useful for you as long as you’re sure the truck you’re interested in buying fulfills your personal needs.
When you find a truck that fits your personal needs, make sure to thoroughly research the vehicle you plan to bid on. That way, you know exactly what you’re getting when you buy it.
Also, if you decide to bid on a vehicle auction website, be aware that most online vehicle auction scams take place on websites that don’t have the resources to service bidders properly. To avoid getting scammed, research the vehicle auction website you use to ensure it’s a credible one.