(BPT) - The auto salvage industry is more popular than ever. While automotive prices rise, so does the difficulty in finding a good deal on a vehicle, and yet, many are still misinformed about what a salvage car truly is. Automotive consumers have been misled to believe that a salvage car, scrap car, junk car and total loss vehicle are one in the same. As a result, many consumers are not aware of the value that the auto salvage industry has to offer.
What is auto salvage
Cars that are categorized as salvage come in all makes, models, conditions and mileage, but what does auto salvage really mean? The term auto salvage is quite simply the state of the car’s title, and it refers to vehicles that have been characterized by insurance companies, adjusters and the states as damaged in some way. The term “salvage” is generically used negatively; however, a salvaged vehicle does not necessarily imply that it cannot be rebuilt, repaired or safely driven again. In fact, many salvaged vehicles are cars that have undergone minimal aesthetic damage, and rebuilt or repaired vehicles are specifically required to pass a special inspection before they can legally be released for the open road.
Alternatively, a total loss vehicle is not a type of title, but it is a type of salvage vehicle. A total loss vehicle occurs when the insured property is totally destroyed or damaged in a way that cannot be repaired or recovered for future use. It is important to understand the difference in order to truly appreciate how the auto salvage industry operates — this also enables buyers and sellers to make smart choices.
The auto salvage industry
From the early days of automobiles, automotive recycling has developed into a refined and technology-driven industry. It is valuable as a consumer to understand that the auto salvage industry is really the automotive recycling industry. The primary focus of all entities within the industry is to repurpose, reuse and retain the value of all things automotive, and find a new life for the vehicle or components of the vehicle.
The auto salvage industry is a thriving part of the automotive supply chain. Automotive recycling as a whole represents over $32 billion in sales annually, and the industry employs over 140,000 employees in the U.S. alone. In addition to the critical role that the auto salvage industry plays in the automotive supply chain, automotive recyclers play a valuable role in the environmentally-friendly process of dismantling, recycling or repurposing of motor vehicles. Buying and selling a salvaged vehicle is not only more cost efficient, it also preserves natural resources and significantly reduces pollution and the demand for landfill space.
Buyers and sellers of salvaged vehicles can sleep soundly knowing that all title discrepancies must always be announced during the transfer of a vehicle. This is including, but not limited to, mileage, salvage, theft, recovery, stolen vehicle, buybacks and more. Insurance transfers also require full disclosure, and by law, titles will always be changed to reflect the vehicle's true status. Remember to be a smart buyer and check your state for the different title types and what they mean.
All buyers and sellers should take it upon themselves to fully understand vehicle history and title status before offering to buy and sell cars. If you are looking to buy and sell a salvage title vehicle, Copart.com exceeds all expectations and demands. Copart, Inc., a leader in live online salvage and insurance auto auctions, is a publicly traded and reputable company with a dependable global footprint. Copart has grown into the premier online destination for quality vehicles that links buyers and sellers all around the world.
The salvage auto industry is more popular than ever before, and Copart.com makes it more convenient than ever before to access thousands of vehicles.
(BPT) - Selling a car for cash should be simple, safe and able to navigate without roadblocks; however, there is no shortage of sneaky techniques that are employed to scam car sellers. Through hiding supplementary fees in the fine print, car buying businesses can leave car sellers spending anywhere from $10 to $300 in unexpected fees - a disappointing loss in an anticipated profit. With the numerous car buying companies competing for business in a niche industry, it is difficult for a car seller to discern which company is the correct choice; however, there are many things that a seller can be aware of to ensure that they are making the best decision.
Fortunately for car sellers, the costliest hidden fee when selling a vehicle is also the easiest to avoid. While it is no longer common for car buying companies to expect a seller to facilitate towing arrangements, it does occur. Towing can add up to $100 or more in additional deductions depending on where the buying company is located. Additionally, many buying companies cannot accommodate vehicles outside of cars, SUVs, vans and trucks.
Many scrap and junk car buyers require a seller to empty a car's gas tank before they will send a towing service for collection, and if a seller fails to do so, it can result in a charge upwards of $50. A $50 deduction can make a significant dent in your overall profit, and draining a gas tank can be timely and incredibly dangerous if a seller does not have previous experience or has not been given proper direction.
Car buying companies take into account the condition of a car's interior when generating a buying price for a seller, but do not typically communicate that the state of the interior, down to cleanliness, could have an effect on the final offer to a seller. While a seller should ideally take care of a car's exterior and interior on a routine basis, they should also be aware of hidden deductions that could arise from a lack in communication from a buyer.
While many car buying companies claim to manage paperwork for a car seller, it is not unlikely for a small "document transfer" fee to be removed from a seller's original offer upon transaction for the car. Before accepting a quote from a car buyer, a seller must guarantee that they will do the heavy lifting regarding paperwork and ensure that no additional fees will be taken out of the original quote. Additionally, car buying companies have been known to buy cars without a title present, and while this is convenient for the seller, it can also lead to reputation management problems farther down the road.
Protecting yourself as a car seller
While selling a vehicle for cash can result in a headache, it doesn't have to be a painful experience with the right information and research. If you are a car seller looking for a car buying company that is fast, easy and transparent, CashForCars.com exceeds all demands. CashForCars.com is a car acquisition division of Copart, Inc., a publicly traded and reputable company with a dependable local footprint. CashForCars.com purchases vehicles directly from the public, offering free towing, clean paperwork transfer and exemplary customer service with no hidden fees, hidden charges on towing, or out-of-pocket expenses. The CashForCars.com team answers the calls of vehicle sellers looking to sell their cars, truck, SUVs, boats or RVs, and guides them through the quick and painless process while diligently working to guarantee that an honest reputation is preserved as the main priority.
The CashForCars.com business model is built around saving customers the hassle of selling a car in a traditional way, and has over 160 locations across the U.S. to ensure that a driver will be able to pick up your vehicle in as little as 24 hours - sometimes the same day! Backed by over 30 years in the car buying business, CashForCars.com diligently works to stay up-to-date on vehicle pricing by incorporating market trends, damage levels and comparable model prices to ensure that each customer is presented with the best available offer.
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