How I Make Money From Auto Salvage

I have had a 9 to 5 job for the greater part of my life. A few years back, I needed to make some extra money and researched ways to do that. I knew a bit about cars and decided on an auto salvage business model that involves buying and selling salvage title cars and trucks. I got registered as a dealer and started looking for salvage vehicle auctions.

A salvage title is given to a vehicle that suffers damages that take its value below the cost of its repairs. Insurance companies sell salvage vehicles to cover their costs, and salvage vehicle auctions are conducted to re-sell them either before or after repairing them.

I had a regular job and could not become a dealer as big as to buy vehicles in a lot due to budget and time constraints. However, I decided to keep an eye open for salvage vehicle auctions taking place near me. I got a good deal on a 2011 BMW M3 and bought it as my first salvage car. It had seen some repairs after the accident but still had some damages.

I worked on it, one or two hours a day, for three weeks, replacing some of its internal and show parts to make its performance better and give it good looks. I put it up for sale and got 20% more than what I had spent on it. That gave me more confidence in the business, and I started buying from other salvage vehicle auctions as well.

I looked for the cheapest spare parts markets around and bargained with mechanics to give them more work if they charge me a little less. I also buy some totaled and wrecked cars and trucks in salvage vehicle auctions and sell their spare parts to make good profits. Now, auto salvage earns me more than my regular job, and I am seriously considering doing it full-time.

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