One of the most amazing things about car buying companies and their claim that they ‘we buy any car’ is that they really do buy every type of car imaginable and rarely turn them down. They don’t care about the car’s make, model, year, condition or even if its running or not! However, there are some limited kinds of vehicles which they don’t buy because it results in more losses than profit.
Here are four types of cars that car buying companies don’t buy:
An imported car
Although imported cars are cheaper and have better specifications at times, car buying companies don’t buy them as it costs them more in other aspects. Imported cars are harder to insure since they’re rarer than other vehicles and are likelier to get stolen. The technical standards and environmental regulations for cars also vary in different countries. So, cars brought in from other countries need to be modified and have to pass the regulations of the new country or else they can’t be sold legally. They also need to have proper installations for crash protection, braking, emissions, etc. If the car dealership has to ensure all this themselves, it’s hard to sell the car at an acceptable profit margin. Nevertheless, imported cars are quite popular and in 2017, the UK imported £38 billion worth of motor vehicles.
An undocumented car
A car which doesn’t have all of its documents or is missing even a few of them will be very hard to sell to any car buying company. Usually, they have stringent policies regarding undocumented cars. A vehicle history report is required which is a very thorough analysis that shows in detail all the essential and relevant information about the car such as accident accounts, registrations, past ownership, damages from natural disasters, defective odometers, car title checks, airbag deployments and much more. This report is also used to check the authenticity of the seller as they match the report given by the seller with a copy that they procured themselves. If there are any inconsistencies, the car dealership refuses to buy the car.
A stolen car
Buying or selling a stolen car is illegal even if you didn’t exactly steal it yourself. Hence, car buying companies don’t buy stolen cars under any circumstances. One of the most common used cars buying scams is VIN cloning, which is basically selling or buying a stolen car. The stealer takes the VIN, i.e., the vehicle identification number which is unique for every vehicle, of another car and uses it to sell the stolen car. Car buying companies can quickly match the registration and title using the vehicle report to the actual car being sold. They can also check at local police centers if the car has been stolen.
A car being sold by someone other than the owner
Car buying companies do not buy a car when the legal owner of the car is not present. Or even if he or she is not present, the seller needs to at least have a legal representative present or else the car buying company could be held responsible if the owner reports the car was stolen. The buying companies also ask the sellers for their proof of identity so that they can match it with the information on the cars’ registration forms. If the car buying company is dealing with another car selling company, even when they run background checks on the dealership, for example, if they have all the legally required licenses to sell a car.
Other than that, there a lot of scammers out there who try to con not just individual buyers but car buying companies as well. There are “curbsiders” who try to sell cars under their own name when they are not and they end up making a profit without having to pay any taxes. Some scammers try to get the company to pay into an escrow account which later turns out to be a fake and they disappear with the money and the car. Then there are some who tamper with the odometer to reduce the mileage or claim that their cars still have a warranty when they actually don’t.
Usually, these types of cars cause more hassle than their worth, so car buying companies try their best to steer clear of them. Since they have to sell the car further, they have to have some criterion so that they are able to sell and make a profit off the car. The cars mentioned above might have some gain in the short run but cost the car buying companies a lot more in the long run. But other than that, they buy all kinds of cars, just like they claim!