Is it a good idea to buy a salvage car? - | WBTV Charlotte


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Should you buy a salvage car or a reliable used car?

Is it a good idea to buy a salvage car?

Sometimes the purse strings get a little tighter, but you can’t get away from the need of a vehicle. The option of buying a brand new car, but purchasing a Charlotte used car is still on the table. Pre-owned vehicles are a great way to get a new ride that will get you where you need to go without you having to break the bank. If most used cars are still outside of your budget and you really need a vehicle, you may want to consider buying a salvage car.

What is a salvage car?

Salvage cars are vehicles that have been deemed a loss by the insurance company. This ruling could be because of an accident, water damage or theft. If the cost to repair the damages costs more than the value of the vehicle, it is deemed a salvage car by the insurance company. These pre-owned cars then go to a salvage yard or auction house for sale.

While our Toyota Scion dealership in Charlotte doesn’t typically suggest purchasing a salvage car, it may be your most economical option. These used cars are usually extremely affordable. Sometimes they have been repaired and rebuilt but they are still cheap because of their history.

Our Charlotte used cars are a better buy!

While a salvage car in Charlotte may be lighter on the wallet, a reliable used car from our pre-owned car dealership will be a better investment. Buying a vehicle deemed a loss by the insurance company may not be the right place to put your money because:

  • Past damages may be a risk for your safety. The car was deemed a salvage car for a reason. Accident damages or water damage may cause more problems later on, leaving you at risk while driving. Damage to the frame of the car means it may not protect you as well if a future collision were to occur. Water damage could cause issues like rust, corrosion and deterioration of the vehicle.
  • Financing and insurance is hard to get. Banks, loan companies and insurance companies are extremely hesitant to finance and cover a these types of cars because they are considered a high risk. For this reason, you will more likely get a higher finance rate and a more expensive insurance plan.
  • The resale value is low and close to non-existent. Typically, you won’t get the money back for the car that you paid for it. Often, people won’t pay a lot for a car that has been deemed a loss. Be ready to hang on to this vehicle for a while!

You can still find an affordable used car at Toyota Scion of North Charlotte! Not only do we have used Toyota cars, we also have a slew of other cheap used cars in Charlotte in a variety of different makes and models. We even have a selection of bargain used cars with prices under $10,000!

See what great used cars in Charlotte we have available when you visit us at 13429 Statesville Road, just off of I-77 at exit 23. To schedule a test drive, give us a call at (888) 598-0704.

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Toyota of North Charlotte
13429 Statesville Road
Huntersville, NC, just off I-77

Phone:

888.883.3797

Web:
www.toyotaofnorthcharlotte.com

 
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