Buying and Selling Vehicles - Buying used car from salvage listings
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Codyy
07-19-07, 04:46 PM
We're in Manitoba and Manitoba Public Insurance has salvage auction listings for written off, salvageble and irreparable vehicles. Some of you may have read posts about our van, and it seems to be on it's last legs with 256 000 kms and 16 years old.
We've spotted a 1991 Oldsmobile Alero GL, six cylinder, automatic, that is going to be auctioned next week. Here is the link this specific automobile - http://www.mpi.mb.ca/salvage/SlvgItmImg.asp?salenm=922&itemnm=170
This is the link to the salvage listings - http://www.mpi.mb.ca/salvage/auction.asp?salenm=922
Have any of you had luck with buying salvage vehicles like this? This vehicle is being auctioned because of hail damage (written off). With 138154 kms and the visual condition from the image, how much do you think a fair bid would be? MPI's site also has past auction sales records if anyone wants a look here - http://www.mpi.mb.ca/salvage/salvage_data.asp
What specific things should we look at when we check out the auctions?
Thanks a lot!
We've spotted a 1991 Oldsmobile Alero GL, six cylinder, automatic, that is going to be auctioned next week. Here is the link this specific automobile - http://www.mpi.mb.ca/salvage/SlvgItmImg.asp?salenm=922&itemnm=170
This is the link to the salvage listings - http://www.mpi.mb.ca/salvage/auction.asp?salenm=922
Have any of you had luck with buying salvage vehicles like this? This vehicle is being auctioned because of hail damage (written off). With 138154 kms and the visual condition from the image, how much do you think a fair bid would be? MPI's site also has past auction sales records if anyone wants a look here - http://www.mpi.mb.ca/salvage/salvage_data.asp
What specific things should we look at when we check out the auctions?
Thanks a lot!
GregH
07-19-07, 05:40 PM
With being hail damage you may only need a basic safety inspection and not an additional body integrity safety if it had been in a collision.
This vehicle being a deal will depend on what it takes to safety it and how much of the needed work you can do yourself.
One thing you have to keep in mind is that if you were to buy and fix up this vehicle, no matter how much it costs to get running, Manitoba Public Insurance will only cover the collision part of your insurance up to the value you paid for it.
So if you buy it for 500 and it costs 1000 to get on the road and the used value is 2000, they will only give you 500.
To establish a value for a used vehicle you could use the online Auto Trader for Manitoba and Saskatchewan as a guide.
This vehicle being a deal will depend on what it takes to safety it and how much of the needed work you can do yourself.
One thing you have to keep in mind is that if you were to buy and fix up this vehicle, no matter how much it costs to get running, Manitoba Public Insurance will only cover the collision part of your insurance up to the value you paid for it.
So if you buy it for 500 and it costs 1000 to get on the road and the used value is 2000, they will only give you 500.
To establish a value for a used vehicle you could use the online Auto Trader for Manitoba and Saskatchewan as a guide.
Codyy
07-20-07, 07:53 PM
Do have an idea on how much of the vehicle can be examined at one of these auctions? Frankly, we haven't had much luck lately with vehicles, and we're worried about getting another lemon. We were hoping that with hail, the mechanical guts might not need work, or at least might not need a lot. Thanks for your help.