When I peruse the websites of some of my local yards, it seems like some of these cars have very little damage but some insurance adjuster has written them off based on whatever metric the company uses.
I’m an experienced shadetree mechanic and it seems like getting a 3-4 year old car for 30% of its original MSRP would be a screaming deal, and since warranty coverage is no longer an issue, it comes down to diminished value on the salvage title. I tend to keep my cars for 8-10 years so who cares.
Here’s where my doubts creep in.
If it was such a great idea, I would have surely read more about it. In the case of this one nearby yard, they have a huge collision repair facility. So why aren’t they repairing and flipping these cars? Googling doesn’t provide a whole lot on the pros and cons, just on the procedural aspects.
How’d you like to buy a new Chevrolet? A real Chevrolet. Not a Daewoo. Not a New GM assemblage of lowest-bidder Chinese electronics and focus-grouped inoffensiveness. A brand-new Chevrolet from the time when Chevrolet ruled the world with a cast-iron fist. A brand-new 1958 Chevrolet. With four miles on the odometer.
Every once in a very blue moon, I’ll go to a mini-warehouse auction.
The realities of this low-down clearance process is completely unlike the miracles and glories that come with episodes of Storage Wars. You want junky third world quality furniture? Or memoirs of the 1980′s and 1990′s left behind by your neighbors from their very last estate sale before they finally moved to a condominium? The local storage auctions are the place to go. 80% to 90% pure junk.
This is where I recently found this wrecked 2002 Toyota Solara SE with 140k miles. For $375, it was all mine.