Vehicle auctions are done by most car auction companies in order for them to showcase their available rebuildable cars to the prospective car dealers and salvage buyers. This involves salvage cars, damaged cars and others which are not used but are still functional.
Salvage cars should go through inspections to know if they are still repairable. In addition, it is very important to know and identify if the car conforms to regulations governing safety and emissions.
Cars are auctioned if they are:
First, off-lease cars. These off-lease vehicles are returned to the financial institution at the end of lease term which is two to three years before the original factory warranty expires.
Second, off-rental. This is usual to rental companies. They will eventually change and replace their fleets once a year. So, in order to buy new vehicles, rental companies sell their old ones. This is done to ensure the safety of the rental cars released by the rental companies.
Third, company/fleet cars. Companies either big or small usually sell their cars after one to two years of usage. This is to ensure that their company has excellent vehicles like trucks and vans for their business transactions. They usually do this since that their cars and vehicles are used in a daily basis maximizing their functions.
Fourth, repossessed. Vehicles can be voluntarily and involuntarily repossessed by financial institutions. This vehicles are sold for less by the financial institutions to offset their losses from the vehicle owner’s unpaid loan in their institution.
Fifth, Trade-in. This is usually done in order to acquire a new model of car in exchange for an old one. The exchange depends on the car’s condition that has to do with the car’s age. In this manner, there is a tendency that old cars have low quality of engines and expired warranty. Thus, the consumers will not have the model of car they want because it will only depend on the quality of the old car being traded-in.
Sixth, Salvage. These cars are those recovered from flood, vehicular accidents, fires, and from thefts. These cars are purchased from insurance companies and other car auction companies. These damage cars will be sold to car dealers and salvage buyers who have the license to sell the vehicle parts to consumers.
For some auction salvage cars, you can see them at the website of Salvage World. For more inquiries, you can contact (888) 529-2655 or visit Auction cars salvage