The Best Time of Year to Buy a Salvage Vehicle

Looking for great deals on used cars? We know it’s a hassle to look for car sellers you can trust. Most people run around the block and scrape the web to find high-quality vehicles for reasonable prices. But that takes time—a precious commodity that most of us are running low on.

Like most products, a car’s value can vary at different times of the year, which also holds true for salvage cars.

So, what’s the best time of the year to browse the auction markets for a salvage car?

Let’s find out as we explore the factors every buyer should know before buying a salvage car. By the end of this piece, you should be able to pinpoint the perfect time to choose from a list of Texas salvage vehicles.

Salvage Cars in Texas – What Are They?

A salvage car is branded with a “Salvage Title,” which indicates that it has been damaged extensively and isn’t safe for driving publicly.

While the rules vary from state to state, it’s generally implied that if the car’s total repair cost is 70 to 95% of its actual worth, it’ll be given a salvage title and transferred to the insurance firm’s custody.

Once these cars are repaired and inspected, they’re available for purchase through dealerships and car auction markets.

What Do You Need to Do Before Buying a Salvage Car?

For starters, examine the state of your chosen salvage car. After that, follow these crucial steps every buyer must take before purchasing or placing bids on their first salvage car:

1. Set Your Budget

This is an essential step for salvage and non-salvage car buyers. It’s important to have a defined budget so that you have a good idea of what kind of salvage car you can afford. Keep in mind other related costs like repair and insurance expenses.

2. Stay on Top of Market Prices, Deals, and Incentives

While we’re on the topic of affordability, you can also check the market trending price rates for salvage cars. These rates can vary depending on a car’s brand, model, and build. Knowing the market value of each feature, you can negotiate a reasonable deal with the sellers.

Online tools like Autotrader and Craigslist can easily help you compare different car types. Additionally, make sure you leverage any discounts or offers on the salvage cars.

3. Have It Inspected

Since these cars have been damaged in some way, it is best to have them inspected. Any professional mechanic or specialist can do this for you.

4. Sign Up for Insurance

This is the most critical yet challenging task for salvage car buyers. Getting coverage for salvaged cars can be tough, but there are insurers who will cover a salvage car.

What’s the Best Time to Buy a Salvage Car in an Auction?

The following periods are ideal for buying secondhand cars and placing bids in car auctions. Let’s look through each one of them and find out why:

End of the Year

Before the new year starts, many dealers and sellers need to make room for a more recent stock of cars. They also have to meet specific quotas for the number of vehicles they sold that year. Keeping these priorities in mind, you can easily find budget-friendly deals on salvage cars if you start buying during the fall.

Months like November and December are when dealers have to sell as many cars as needed to meet their targets; so, they’ll be much easier to negotiate with.

Summer

Yes, the seasons can play a huge role too. Depending on your local area, summer is when most consumers are looking for vehicles that fit the weather, such as convertibles. So, the demand for secondhand cars is expected to decrease. This allows you to bid for affordable cars and find cheaper deals.

Holidays

Whether it’s Thanksgiving or New Year’s Eve, it’s customary for businesses and sellers to offer deals and discounts during holidays. Not only does this help you buy budget-friendly salvage cars as gifts, but it’ll also tempt brands to stock more vehicles in their inventory. As a result, markets will be more eager to give away cars at negotiated prices so that they can effectively make room for more.

What’s the Best Auction Market for Salvage Cars?

Do you have your budget and market insights ready before you enter an auction? Do you think this is the best time of the year to buy a salvage car?

Great, you’re ready to browse the markets. But, where do you go?

Well, look no further than A Better Bid. This online marketplace holds the best deals on secondhand cars, motorcycles, boats, trucks, and much more. With over 300,000 salvage vehicles in their inventory, you’ll be able to find the perfect car.

You won’t even need a dealer’s license to make your purchase. ABB brings salvage vehicles from fleets, bank repossessions, financial companies, insurance firms, and many more authorized providers so you can play the dealer yourself.

Head to A Better Bid, register, join live auctions and place your first bid. Since this is an online marketplace, they’ll even ship your salvage car to your doorstep.

Conclusion

Salvage cars are a great way to fulfill your transportation needs without breaking the bank, and if you buy one at the right time with proper know-how of market insights, that’s a bonus. So, what are you waiting for?