It’s not easy to find a good deal on a vehicle these days. With prices rising and selection in many countries dwindling, people around the world are turning to the auto salvage industry. From Nigeria to Libya and Ghana to Nicaragua, US vehicles with titles marked as “salvage”, “rebuilt”, or “rebuildable” are more common than ever.
Why is the US auto salvage industry surging internationally?
One word: price.
What Is Auto Salvage?
The term auto salvage refers to vehicles that have been categorized by insurance companies, insurance adjusters, and government entities as damaged in one way or another. Cars that need repairs, are repaired, and pass inspection are still considered salvaged in general, but instead, have the title designation of “rebuilt”. Cars that are categorized as “salvage” come in all makes, models, conditions, and mileage.
Cars and trucks that have been labeled as “salvage” can have many types of damage, but most of it is usually easily fixed. Light flooding, impact damage to the sides or front, even just dents from hail can put a vehicle in the category. “Rebuilt” vehicles simply refer to automobiles with the light damage that have been completely repaired (and the passed DMV inspection).
Auto salvage is increasing in popularity globally, with many international buyers turning to the US salvage market.
Salvage Vehicles Are Selling, but Why?
Well, for the main reason anything sells price. Even if a car runs perfectly, just being designated as a “salvage”, “rebuildable”, or “rebuilt” vehicle lowers price points by as much as 10-20% or more. Even compared to used cars, auto salvage offers a more competitive price.
But, how is this possible you say?
Cars, trucks, and SUVs labeled with a rebuilt title require a bit of repair and upkeep. Experienced, talented labor is easier to find in countries like Nigeria and Ghana, which is one reason US salvage cars has become so popular internationally. People get a decent car at a great price, and then pay to have any and all issues fixed.
Luxury vehicles from BMW, Mercedes-Benz, and Lexus are popular choices amongst international salvage vehicles buyers. Prices are often tens of thousands of dollars below the listing price, making them affordable for those who can pay to make the repairs.
Private businesses in the US export thousands of damaged vehicles every year. Shipping such vehicles is not nearly as expensive as one might think, and quite a few people have figured that out. It is not a rare occurrence to see a BMW with a rebuilt or salvage title roll off of a shipping fleet and onto the streets of countries around the globe.
The salvage autos industry is hot, and it looks to be getting even hotter.