Characteristics of rescue vehicles

Salvage cars are those cars that had an accident and were considered a total loss, however, the insurer rescues them and replaces them to sell them at a price lower than the commercial value.

Advantages of buying a car of salvation

The clearest advantage for the driver is the price. If the contractor requires a current car at a good price, he can go to an auction and obtain a quoted model at a price with 40 or 50% less than the commercial value.

Disadvantages of recovered cars

As mentioned at the beginning, it is unknown if the car had such serious damage that although it has been repaired, it later manifests itself. The car may have had a chassis problem and eventually put the driver’s life at risk as he supports the bodywork.

There are cars whose damage is easy to repair, but it is difficult to find them.

Another point to consider is reselling the salvage car. Most dealerships will reject such an invoice and the value of the car will depreciate considerably. The option in these cases to sell it in lots or agencies dedicated to online auctions.

Where to buy cars with an insurance bill

Most insurance companies hold auctions to settle them. These vehicles are not only those that had some type of collision, but also those that were stolen and recovered, in the same way, those that were used as a work tool in a company.

Also, there are many websites where these types of cars are auctioned. Generally, the requirements to buy a car are as follows:

  • Official identification.
  • Proof of address.
  • Tax ID.
  • A letter that the insurance company provides in which you declare that you participate as a buyer.
  • Some sites ask for a deposit.

If the driver is a legal person, what they request is the following:

  • Constitutive Act.
  • Identification of the attorney-in-fact
  • Proof of address
  • Tax ID.
  • Registration acknowledgment.
  • Constitutive Act.
  • If more people are going to bid, a letter authorizing said individuals will be required.
  • Power of Attorney of the Legal Representative.
  • A deposit.

These auctions are commonly done online, so the entire process is also done on a web platform.

If the interested party was the winner of an auction whose vehicle is owned by an individual, the car will be delivered in days; But if it was from an insurer, it may take up to a month. In all cases, the title of owner will be delivered to the buyer.

Safety tips for buying salvage vehicles

Also request all the invoices and do some driving test to perceive with greater security the anomalies that the vehicle may have, such as vibrations or strange noises.

Can salvage cars be insured?

Almost all companies will cover claims for recovered cars, many make an agreement with the insurer where they stipulate that they will cover risks through an endorsement.

In their terms, they request that the insured appear at the company with the salvage car and thus agree on the insured amount that will depend on the inspection that was carried out. If the driver does not perform the inspection and has a loss considered a total loss, the compensation could be 70% of the commercial value, plus the costs of the repairs.

In the vast majority, salvage cars will not be accepted for some public service insurance.

What insurance best covers a car of this type?

It may be a car that looks great on the outside, but the structural damage it could have is still unknown, so experts recommend a policy that covers it in all aspects, both in the safety of the driver and the damages of the car.

The insurance that supports in these cases is the Amplia or Amplia Plus package and contains the following coverages:

  • Civil Liability for damage to third parties: in the event of an accident that causes damage to another driver, vehicle protection will cover both injuries to the third party and the damage caused to your car.
  • Medical Service: For bodily injuries, the coverage sends the driver to a hospital and his companions. It reimburses medicines or studies.
  • Material Damage: if the car was damaged by an accident or fortuitous event, the insurance is responsible for the repair or compensates for total loss. In these cases, there is a deductible.
  • Total Theft: The company will compensate the car depending on the commercial value, invoice or agreed of the same.

It also supports funeral service, towing service, private driver, lodging in case of an incident, among others.

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