Archive for September, 2009
How Excavators Become Salvage
As we have mentioned before salvage is not just about cars and vans, but also excavators, diggers driven with steel and rubbers tracks. As these machines are built to withstand the toughest of conditions questions are often asked, how do these tracked vehicles become salvage and end up in auctions around the world?
Well we have some footage that will help explain this. Talk about a lack of health and safety, this excavator is sitting on an edge of a building site trying to know down a building, watch what happens next and you will get a clear idea of how these vehicles end up in auction with some damage to them. In many cases these building companies claim on their insurance to get a new excavator or relevant steel or rubber tracked vehicle.
Its Been Confirmed Cars Are More Expensive
We mentioned this a few posts ago that the recession may send the prices of cars up with the lack of vehicles against the demand. Well it now has been confirmed by CAPS the company that publishes trade car price, stating that your car is increasing in value even whilst it is standing on the drive. Some vehicles that were extremely unpopular just 12 months ago, have increased in value the most with some 4×4’s increasing in value over £3000, not a small amount. This obviously has been compounded by the low prices last year.
This obviously affects the salvage market, as clearly more profit can be made from each car repaired. Many who have been used to really cheap salvage prices at auction now have to recalculate their actual costs against profit, with some just not wanting to pay more for cars. You tend to get used to prices dropping but not increasing. In fact this is the first time since records began that second hand cars have increased in value, except for some classic cars, or supercars.
Of course a pending question is how long will these high prices stay with us. For example it takes time to repair a salvage car, in this time is it possible that prices could drop back to normal levels again.