A good time to be buying salvage?

admin    Salvage hints and tips    

With the credit crunch and us just about to enter the christmas holiday period, is it really a good time to be buying a damaged repairable car?

The anwser is both Yes and No.

This time is good if you are looking to buy a salvage car to repair as the salvage yards are desparate to shift stock, many people have been hit hard by the credit crunch and its slowed their turnover of cars substantially! With a bit of haggling you should be able to get an absolute bargain! However, choose carefully at the moment only a few types of cars are selling well, and if you want to be able to sell easily once repaired make sure you stick to small engined, economical cars, preferably with a bit of style e.g. Mini, fiat 500, etc.

Likewise, if you are looking to take your time repairing a car, now would be the perfect time to buy a convertible. The weather and credit crunch have pushed prices down, and with us being in the depths of winter nobody is buying convertibles. However, if you take your time repairing and plan to sell in the spring once prices inevitable start rising as demand goes up, you could stand to make a tidy profit.

On the flip side, now is a really bad time to buy salvage if you are looking at the prestige car market, or exotic cars. The values are plummeting and in all likelyhood once your have purchased and repaired the car it will be worth less than it was to buy as salvage only a few weeks/months ago. Its really best to stick to small economical cars which are still high in demand.

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