How do you buy salvage cars from insurance companies?
I need a new car. My friend said that you can buy salvage cars from car insurance companies for cheap. How do you do that?
Your friend is correct! You can buy salvage cars for less than a regular used car.
Car insurance companies sell salvage vehicles to make money back after having to pay out a claim for a totaled vehicle. Most often, you can purchase salvage vehicles at auction.
Auctions take place online and in person. If you go to an in-person auction, you should have a chance to look over the vehicle before bidding begins.
If you aren’t familiar with cars, bring a mechanic or someone else to look over the vehicles. You want to be sure you’re bidding on a car that you can repair. Otherwise, the low price isn’t worth the hassle. You could end up paying more for the salvaged car than a used car may cost!
Beyond repairing a salvage vehicle, look at the cost to insure it and what type of insurance you can get. Since salvage vehicles require a special title, some insurance companies won’t insure them. If your current company won’t insure a salvage vehicle, you can shop around to find a provider that does.
If you’d rather leave the hard work of gathering quotes to someone else, use Jerry. This free app can collect quotes from up to 50 top insurance companies in seconds!
Did this answer help you?
Ask us a question by email and we will respond within a few days.
Have a different question?
You can meet us at our office and discuss the details of your question.
Read advice from car experts at Jerry
Browse by topics
What others are asking
Can I get a car loan after I file for Chapter 13 bankruptcy?
I'm in the middle of Chapter 13 bankruptcy proceedings, but I'm worried about my ability to take out loans in the future. Will I be able to get a car loan down the road after filing for bankruptcy?
Oct 19, 2021
How can I add a car to my Progressive car insurance policy?
My wife and I used to share a vehicle, but we had to purchase a second vehicle since her company recently moved offices. So I was wondering how we could add her new car to our Progressive car insurance policy?
Oct 22, 2021
If shingles from my house damage my car during a hurricane in Florida, does my auto policy or home policy pay for it?
My car and home were unfortunately damaged in a recent hurricane—my shingles flew off the roof, and then hit my car. Luckily it’s mostly minor damage, but do I need to put in a claim for both my auto and home policies? How does this work?
Oct 22, 2021