A Savage can be the basis for a good target rifle, but I don't like the bolt design or the idea of the Accu-trigger for hard use in the field. That said, thousands of these things are used as hunting rifles throughout North America, and those choosing them for that purpose appear to be satisfied with the rifle's performance. The Remington 700 has been used successfully by competitive shooters, hunters, guides, military and police marksmen, professional hunters, etc, etc, etc, the list is endless. Both makes are blessed with plenty of aftermarket accessories from stocks, to sights, to triggers, to bottom metal.
When you go to the gun shop, don't purchase a rifle based on price alone. Handle and shoulder both rifles to see which you prefer. The rifle should balance slightly towards the muzzle, the stock will probably be a bit long, but this is how the manufacturers attempt to please the masses, and usually getting the LOP right is a simple fix. Although no longer universally available by any means, the presence of iron sights on hunting rifles is desirable, but those from the factory don't compare to the quality of many after market choices. Work the bolt with the rifle shouldered. If you can't lift the bolt handle without tipping the rifle, that's not the one you want. In the field a fast followup shot will be impossible, and on the rifle range it will be a nuisance, and force you to loose your position between shots. Press the trigger; ideally the trigger should break without apparent movement before or after the break. The further the trigger is from this ideal, the more difficult it will be to shoot the rifle well. There's more to a rifle than just mechanical accuracy.