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WHAT ARE SALVAGE VEHICLES:
They are insured vehicles that have been stolen and
then recovered or sustained damage from collision, vandalism
or floods. The insured vehicle owners receive cash
settlements as compensation for damages or loss and
the vehicle then becomes property of the insurance
company. It is then resold at one of the many
insurance salvage facilities across the nation at a
deeply discounted price, usually 1/2 to 1/3 of Blue
Book values. We provide immediate access to
more than 15,000 salvage vehicles each week from
over 400 locations throughout the USA, Canada and
Europe.
THEFT RECOVERED VEHICLES:
For example, you park your insured vehicle in the
airport parking garage as you depart and then
return days later to find it gone. The
police can't find it and your insurance company then
pays you a settlement equal to the car's value.
However, a few months later the car is found, it may
be fully intact or may have some damage or missing
parts. The car is no longer yours, it now
belongs to your insurance company and is sold at an
insurance salvage facility.
FLOOD CARS: These are
vehicles having been in various depths and duration
of water from street flooding that occurs during
extended and excessive periods of rainfall.
VANDALIZED AND STORM DAMAGED VEHICLES:
vandalized vehicle has sustained
various degrees of destruction at the hands of a
vandal. It can include having parts stolen or
damaged. Storm damage can occur in the form of
hail, fallen tree limbs, airborne debris, etc.
THEFT RECOVERED VEHICLES:
We are frequently asked, "why doesn't the
insurance company just pay to have these vehicles
fixed for their customers?" Here's an
example why insurance companies often decide not to
repair a vehicle, we recently bought
a 1997 Ferrari 355 GTS from an insurance facility in
Atlanta, Georgia that had sustained easily
repairable front end damage. However the front
bumper and fenders that were needed to repair the car were on
back-order from the factory in Italy for approximately 10 months.
During those 10 months this Ferrari would have been
sitting in a body shop racking up a $35 per day
storage bill in addition to $49 per day
rental car expenses. The insurance company
wisely decided not to fix this easily repairable car
and instead pay the Ferrari owner the replacement
cost of the car and avoid a long and costly wait for parts.
SEE THIS FERRARI. Plus once an insurance company
commits to repairing a vehicle they are at the mercy
of whatever unknowns may pop up during the repair
process in both cost and time. They frequently
find it simpler and much more cost effective to pay
the owner a cash settlement and to then sell the car in
an as is condition rather than to repair it. Our
service enables you to purchase readily repairable
salvage vehicles that come direct from the insurance
companies. In addition we have an exclusive
network of more than 100 salvage brokers that offer
repairable damaged cars that come from vehicle
owners that either didn't have insurance on their
vehicle or else their claim was denied by the
insurance company.
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