For those out hunting for value and good deals on the used auto market these days one major concern are” flood damaged” cars, trucks and SUVs˳ Its no wonder given all the major storms we hear of in the media˳ Whether it’s more minor hailstorms, thunderstorms, hurricanes or tornadoes and their aftermath the consumer has to be on the watch and ready˳
Yet these events sometimes bring good value as well˳ One smart buyer for a local auto dealership realized the practical logistics following a major storm that occurred in the locale of home office and auto plant˳ Even though a group of vehicles was listed on the sheet as “hail damage” he knew most of these vehicles were perfectly fine, an insurance write off mainly for administrative and liability reasons˳ Some might have minor damage, which was easily repairable he reasoned˳ Yet most should be perfectly fine he bet˳ It took some time to convince his boss, and the bankers as well – of the merits of the situation˳ Hence the firm bought the lot – at the effective write down costing of the factory and perhaps its insurance company that underwrote hail damage˳ Hence for the buyer – in this case and the ultimate purchasers of the vehicles that would hit the pavement it was a win-win deal˳
What are the legalities and practicalities of such a sale and purchase by a consumer? Rules in the factory line process and especially in the automotive industry are quite clear and strict˳ You might well have purchased a used electronics item as a great deal which was labeled as “refurbished”˳ The term refurbished to many consumers’ minds is like one of “used shoes”˳ Yet a refurb can be perfectly new˳ Anything pulled off the assembly line for what ever reason, or at the end of the line when tested and found to have an issue or problem is labeled for sale purposes as not “new”˳ The term “new ‘is very specific and strict as a consumer purchase label˳ Most products sold now are modular˳ Whole modules are snapped in and out in a snap˳ Hence a refurb electronic can simply be a good product, never used, which simply had one module substituted and swapped in at the factory˳ Better yet each unit is specifically and individually tested for sale, which is definitely not the case in mass production “new “items for sale˳ True a “refurb” may have come from returns to the maker or distributor whom in turn sold it to a refurbisher who took a file of returned product and out of it constructed a number of working products˳ But then again, each item one by one is individually tested˳ Yet this lot is sold on masse to large mass market merchants to clear out˳ If a good percentage of the product is not in top working condition for sale- the firm doing the upgrade work will both be stuck with the product, or lose its reputation for further deals˳ It is intrinsic in the process˳ For the most part “refurbs’ in terms of electronic products are a good deal overall for people who buy them and yet a better draw for the stores to draw in bargain hunters many of whom lift up their noses at the product and are easily up-sold to more expensive purchases which usually have a higher profit margin to the store˳
Back to the hail damaged vehicles as an example˳ I turned out that when the vehicles arrived and were each individually inspected that the dealership sales manager was correct in his hunch˳ All the cars were perfectly fine and indeed indistinguishable from “brand new “vehicles˳ Yet the legalities were certainly not in place˳ These cars could not be sold as “new”˳
Every vehicle for sale has a serial number, a vehicle identification number generally referred to in the auto and auto insurance trades as the “VIN”˳ If auto buyers on the prowl looking for a new car were told specifically and clearly why they were getting such a deal over any similar vehicle for sale in their local area that was perfectly legal and indeed fair to both parties˳ On the auto sale and / or auto finance contracts the product was clearly listed as being “hail damaged” and not perfectly pristine then both parties are fully aware of the conditions of sale˳
Purchasers most likely would sign a legal waiver indicating that they were cognizant of the situation and understood it fully˳ To most it seemed a good deal even a dream˳ They were effectively getting the new car, truck or SUV they wanted – or may even factory option upgrades at substantially reduced pricing levels than they were already prepared to pay, or had been approved for auto financing at their bank or financial institution˳ The vehicles had a 100 % factory warranty (outside of hail damage to the body) that was for assured and for certain˳ It might be true that for auto collision insurance reasons there could be issues of replacement of the vehicle, as the car or truck most likely could not be replaced at the deal pricing structure˳ Still if the motorist and auto owner could provide documentation of sale cost then their money or a pro-rated amount should have been refunded as a payment of the insurance contract in a routine manner˳
Hence in the end a consumer out shopping for a product must do their homework when it comes to purchases – especially large ticket items such as automobiles˳ If you are in the right place at the right time and have done your homework you may well in a position to get a deal of the lifetime˳
Source by https://ezinearticles˳com/?Auto-Salvage-Insurance—Autos-May-Represent-Exceptional-Value-and-Savings&id=6342865
