In the U.S., the average cost of a used car is around $22,000, which is almost $17,000 less than a new one. This can save a lot of money for other important needs and help avoid the constantly rising car prices.
However, navigating the used car market can be overwhelming without deep car knowledge or expert help. In this article, we’ll look into rebuilt title cars versus clear title cars to help you find the best option.
UNDERSTANDING VEHICLE TITLES: FROM CLEAR TO SALVAGE TO REBUILT
Before we dive into rebuilt title cars, let’s review the different types of vehicle titles you might encounter:
– Clear title: No damage or loans against the car.
– Salvage title: Cars that are so damaged they’re considered a total loss.
– Bonded title: Indicates paperwork issues, often from stolen or heavily damaged vehicles.
– Lemon title: Indicates warranty problems that affect safety.
– Rebuilt title: Previously damaged cars that have been repaired and are now road-ready.
Considering a rebuilt title car might be a good idea, and here’s why:
IS A REBUILT TITLE CAR A GOOD INVESTMENT?
Rebuilt title cars are salvage vehicles that have been repaired and are now ready to drive. They can be a good value if:
– You want to save money: Rebuilt title cars usually cost at least 20% less than clear title cars. Sometimes, they can be half the price of a new car.
– You prefer transparency: Rebuilt title cars come with detailed repair histories, avoiding unpleasant surprises. With professional advice, these cars can be a great deal.
Though buying a rebuilt title car has become more common in the U.S., it’s still important to proceed with caution.
DRAWBACKS OF BUYING A REBUILT TITLE CAR
There are some potential downsides to buying a rebuilt title car:
– Incomplete inspection: Sometimes, essential problems can be overlooked, or low-quality parts might be used during repairs, which could cost more down the line.
– Insufficient records: Repair documentation should be clear and thorough. The National Motor Vehicle Title Information System can help you check a car’s history.
– Resale difficulties: Selling a rebuilt title car later can be challenging, and you might not get back your initial investment.
Still, with careful research and caution, a rebuilt title car can offer significant savings and years of reliable use.