In the United States, car accidents occur on a daily basis. There are tens of fatalities each day, in fact. Often, when a car’s involved in an accident and gets seriously damaged, its owners send it to a scrapyard to be disposed of.
However, did you know that most cars, even when seriously damaged, can be recovered? A rebuilt title vehicle is a car that, at some point, was completely destroyed and subsequently rebuilt. This post’s intention is to explore this topic in more detail and tell you what you need to know about rebuilt title vehicles.
What Is a Rebuilt Title?
A rebuilt title vehicle is a car that was previously so seriously damaged that its insurer declared it a total loss. To become a rebuilt title vehicle, these cars have to be rebuilt after the loss has been declared. I
f you are interested in buying a rebuilt title car, you will be pleased to know that because they have previously been written off, they are often sold for much less than a new version of the same model would sell for, even if they are in very good condition. In order for a rebuilt title car to become roadworthy again, it has to pass a state inspection test.
This test is so local governments can satisfy themselves that vehicles have been restored and are no longer dangerous. Rebuilt title cars are widely available and a great way to save money, so definitely consider buying one if you don’t have a sizable budget.
Obtaining Insurance
Something to note about rebuilt title vehicles is that they are often a lot more expensive to insure than ordinary cars, due to the fact that they were previously declared as unusable. If you are interested in buying one, it’s a good idea to do your research beforehand and find out how much insurance is going to cost you.
Getting an idea of how much insurance is going to be prior to purchase will make it easier for you to decide whether or not you want to take a chance and buy a car that was previously destroyed.
Cheaper to Buy
However, while insurance is a lot more expensive, rebuilt title vehicles themselves are much cheaper than other types of cars. If you do not have a large purchase budget, a rebuilt title vehicle is probably the best way for you to get a nice car at a discounted rate.
Of course, you will have to pay an increased insurance premium, but the amount is not going to be massive. You can usually spread the cost of insurance over the year, paying monthly rather than all at once.
Hidden Problems
If you plan on buying a car that was previously damaged in an accident, bear in mind it could have hidden problems. You need to do everything you can to make sure you buy your car from a reliable dealer or seller.
It’s a good idea to leave a paper trail, so if the car you buy is damaged, you can then return it for a refund or take the person who sold it to you to court. You can leave a paper trail by messaging the person on an app that doesn’t allow messages to be deleted and then screenshotting each and every message.
Difficulty Selling
Another thing you need to know is that if you’re going to buy a rebuilt title car, you may have trouble selling it again in the future. People are hesitant to buy these vehicles because of the high insurance cost and the fact that there is always the risk that there could be hidden problems, even if a thorough inspection has taken place.
If you are going to buy one of these vehicles, you should not buy it as an investment. You should instead buy it with the knowledge that you may not be able to sell it again in the future. If you do need to sell it, the best bet is to sell it on an E-commerce marketplace like eBay, where you have seller protection.
Conduct Inspection
Make sure that you conduct a thorough inspection before buying a rebuilt title car. This is so that you do not end up buying a vehicle that has serious damage. If you do not have the mechanical knowledge or expertise to be able to conduct an inspection yourself, you could always enlist the support of somebody who does. Ask a loved one or somebody else you know who has experience in mechanics to help you out.
Rebuilt title cars can be a good way to save money, so if you are on a budget, why not buy one? Take precautions and inspect vehicles before buying, however. This is so that you do not end up with a car that’s unusable due to damage.
