I have bought and sold thousands of junk cars, and just to be honest about it, several of the cars I have bought, were not “junk cars” at all. The owner simply wanted to get rid of the car, so to the owner it was a junk car, however for me buying it, definitely NOT a junk car! On many occasions I have immediately sold the car for somewhere between 2-3 times what I had paid for it in mere minutes of the transaction.
A auto auctions company on the other hand buys salvage cars, fixes them and then sells them off. Question now is “What is a salvage car?” A salvage car is when the cost of repairs on a vehicle exceeds the actual worth of the vehicle. For instance, you have a car that is not working and you do not have the needed amount of money to fix it. You then decide to sell it off.
No matter if you’re buying for yourself or to resell the car, there’s a huge potential to save a lot of money and make money too. Keep in mind, there are some vehicles that are no longer worth anything, but there are others that are worth their weight in gold. If you rebuild the car to exact specifications then you can expect the car to pass the inspection with flying colors.
Most car manufacturers make their cars lighter by using lighter material instead of the heavy steel. Most cars are built with fiber glass and plastic parts wherever it is practical to use them. Weight is one of the most difficult problems faced by hybrid cars also. Their batteries are the inevitably heavy parts that make them heavy. Presently, experiments are conducted in order to get rid of the heavy batteries by introducing body parts that could be used as batteries. In the event of this effort brings results, the hybrids will be able to do more mileage per gallon of gasoline.
Be early for the government seized auto auctions. Being punctual alone is still not good enough. The reason why you need to be early is to have the lead time to view and select the cars you wish to bid for. Then, carefully inspect each one of them to see if they are in a good condition. Always perform an Autovehicle history check ie Carfax report to see if the car has a bad history.
Once you’ve done your basic research, its time to get a base level price for your car by looking up the kelly blue book value, which can be done easily online. This price shouldn’t be taken as a fixed thing, but more as a guideline to reference off of. In my experience, most cars sold fall under this value, but it really varies.
Hi Ted, if I had to finance approximately $14,000 for the Volvo, my monthly payment would be around $430/month (3 years @ 7%). I think that I may be more inclined to lease a 2007 loaded Infiniti, which would probably cost me less on a monthly basis.