There are plenty of car enthusiasts who think that they can’t afford to own the car of their dreams. But that doesn’t have to be the case, if you check out the salvage market you may be able to find yourself a good deal. A salvage car can be a car that was recovered after an accident or was stolen, sometimes it is just an old car that has deteriorated and needs a ton of work. These types of cars are sold “as is” and you will have to decide if the car is worth it or not to you. You will have to put some money into repairs to make the car roadworthy, so the cost of repairs will have to factor into your buying decision. You may want to have a mechanic take a look before you buy.
Each town or municipality has a salvage auction but you may have to travel a bit to find the model of car you’re looking for. If you go to the auction site you can find a variety of cars there from new ones that have been written off in an accident to others that are more exotic. In bigger cities like Los Angeles or Chicago you will stand a better chance of finding a high end car like a Jaguar or even a Ferrari. You can search the auction site by make and model. Most sites will indicate the condition of the car and the repairs that will be needed to make it driveable.
Do Your Own Due Diligence
For some car enthusiasts buying an exotic car is more than a hobby or a project it is a business. They find a popular model of car and restore it to mint condition and then sell it at a profit. If you are looking for a project car then make sure you go over with a mechanic the repairs outlined in the description. Bear in mind that there will be cars there that are beyond repair. For example if the frame has been damaged then the safety of the vehicle is compromised and it is only useful for the undamaged parts. The onus will be on you to assess whether a car is worth buying or not.
Bidding at an Auction
Buying a car at an auction can be hit or miss, sometimes you can find an exceptional deal and other times the place is packed and the competition is fierce. Have patience. You will have to bring cash with you, you won’t be able to finance your purchase like you would with a dealer.