If you enjoy a project, and you have a little understanding of mechanics then you may be interested in purchasing a salvage car. Given the current state of the economy, fixing up and modifying a used car, may prove a financially rewarding option. Once you have restored the car to its former glory, you will have the option of selling it, and generally for a much higher price than you bought it, or you can keep the car and use it yourself – thus saving on the cost of purchasing a new car or a used car that is in good condition.
Buying a vehicle in a state of disrepair can prove extremely lucrative, particularly when comparing the costs with other cars available on the market. Very few of us have a decent amount of disposable income during these times, and salvage cars may be the ideal solution for your transportation needs.
If you love projects, and you are mechanically minded, then modifying and improving a salvage car makes for a fantastic and enjoyable hobby. No doubt if you prove yourself a decent mechanic on your first car, and you use the car as your preferred mode of transportation, your friends and family will surely accept vehicles that you have worked on as their own. This may prove an extremely profitable side-income to your main employment, and if you love what you are doing, all the better. Depending on your level of proficiency as a mechanic, it would be possible to boost your annual income by a few thousand pounds via the restoration of salvage cars.
Clearly, there may be a few problems inherent in the restoration of scrap cars. Most importantly, the car may have been an insurance write-off, in which case there may be some legal issues surrounding the restoration of the car. The decision as to whether the DVLA will deem it road worthy may not be the result you were expecting, so it is important to research all legalities before choosing to undertake a reconstruction. Sometimes you may need to recover the shell of a vehicle that was not an insurance write-off, and remove the engine and other working parts from a car that was, and restore one vehicle from two. This is a common undertaking by many people who practice car restoration as a hobby.
Contrary to popular conceptions, car restoration does not have to be expensive. Scrap yards, and other businesses, will sell used parts at a fraction of the price of a dealership or car manufacturer. These parts, being in a used condition, will come in various conditions. Some may be next to new, and come from cars that have undergone extensive refurbishments before the owner finally 'gave up the ghost' and taken the car for scrapping. Other parts may have significant signs of use, such as rust, or oxidisation, in which case they will need to undergo certain restorative processes before they are fit to use – but this just adds to the fun.