So I've been looking for HAIL damaged auction cars, I keep getting out bid though cause people are paying crazy prices for these things. Anyway, every now and then one like this shows up and I think... "Yeah if I can get it for $15K then pump another $10 to $15 into it, that's a helluva deal!" Am I right or should I stick to HAIL cars?
Stick to hell cars is still run fine and these days and hired economic times you get a good car that runs good people will buy them because the prices are so high of cars that are on blemished
I looked into car auctions a couple of years ago. The cars usually have a salvage title or no title at all just a bill of sale. Know that to register such a vehicle you must pass a special inspection and the new title will have "SALVAGED" or some similar heading. If you want it for yourself great. If you want to sell it the car losses value with the stigma of salvage. Your not going to get close to MSRP. If the air bags deployed you can only replace them with brand new OEM units which are expensive. The newer cars also have a non-reset-able SSR module which has to be replaced. They are expensive although there are companies that will reset them for a fee. These cars have been declared irreparable usually by the insurance companies. Unless you are a full time experienced mechanic who know what he is doing I would stay away. That being said hail damage can be the exception. The body work on hail damage can be more than the car is worth but mechanically the cars can be sound. If you can live with the dimples and other cosmetic damage then it might be worth it. Any broken glass will have to be replaced.
Pre-inspect in person any vehicle you have in mind. The auction houses are getting insane prices for wrecks. The cars are worth more for the parts.
Good Luck
I'm buying for myself no flipping so resale isn't a concern. What's the "SSR module"? Does it have to do with the airbags? While researching all of this I came across a company that reprogams some part of the car so you can use new airbags. I figured I'd have to put some cash into a slightly damaged one and in the end come out with a better deal than buying at a dealer. That's beginning to look impossible with the prices I've seen. Last one I bid on was a 2019 Cadillac XT4, about 29k miles with hail damage, it sold for $30k. I'm starting to lean towards putting a little cash into the car I've got and leaving it at that. It runs good its just old as dirt lol.
Based on what I've seen, buying auction cars only works out if:
1, You can do repairs yourself
2. Have a proper garage and storage for more than a couple cars
3. Have another running car/truck to get parts, use for transportation while fixing what you bought
4. You can live with 1/3 of the cars you buy being junk, 1/3 being OK and 1/3 a good buy
This works out OK for used car dealers with staff mechanics. For an individual, it's a roll of the dice.
Here in the exception to the rule ,the rule being avoid auctions.
https://www.youtube.com/watch?v=xRMklARCm0w
That video was the one that gave me the idea lol.
I went to see this 2020 XT6 today, looks like someone had set about stripping it but didn't get too far. 20K on the clock, body and interior are undamaged except for the camera, sensors on the windshield and the OnStar area. Looked like they took the CATS too. So as usual I wondered what's the deal? I looked it up and it's only a couple grand in parts. Are insurance companies really totaling out cars this easy?