Whether you are selling a junk car, or getting cash for cars in Murfreesboro, you should remember that you’re dealing with a damaged item. From a seller’s standpoint, it is your responsibility to tell a potential buyer of the car’s salvage status, and from the buyer’s standpoint, it is their responsibility to know what they are buying. Below is additional information on buying and selling salvage or junk vehicles.
Selling Junk Cars
Before trying to get cash for cars, become familiar with your state’s requirements. Some states’ rules are more strict than others. For instance, Utah requires sellers to give written notification of the vehicle’s title status to any lien holder or potential buyer–before negotiations can even begin.
In most states, concealing the salvage status of a vehicle is a misdemeanor, which is punishable by a fine. To learn your legal responsibilities, you should call your local Department of Motor Vehicles.
Buying Salvage Autos
When buying a salvage car, you should use caution. Don’t base your decision on the vehicle’s appearance, and be sure to have the vehicle examined by a mechanic. Ask the mechanic to inspect the following areas:
Frame cracks and metal fatigue
Functional airbags (or replacement units)
Seatbelt pre-tensioners (to ensure proper locking and operation)
You should also ask the mechanic for an estimate on the repairs that the vehicle needs. This is the most important step in the inspection process–after all, it makes little sense to buy a car for $2000 when it will cost $5000 to repair. If you decide to get rid of the vehicle in the future, keep in mind that it will have almost no resale value.
Before buying a junk car, you should also consider auto insurance. Some companies will not insure cars with salvage titles, and those that offer coverage typically offer it at a higher rate. Most banks refuse to finance salvaged autos, and when financing is offered, it comes with restrictions and shorter loan terms.
When buying a salvaged vehicle, you should reconsider the purchase if you plan to use the car as a ‘daily driver’–or at least be ready to pay for sudden repairs. You should also order a vehicle history report; it will tell you what caused the ‘salvage’ declaration on the car. Knowing this information won’t reassure you much, but it will tell you whether the seller is honest.
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