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When a car is in an accident and the repairs exceed 75% of the car's value, insurance companies total the car out, pay the owner and take possession of the car. They then resell it (usually though an auction) as salvage. The title is rebranded as such so if the car is rebuilt buyers will know it's been totaled.
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Do you need to be advised it's a salvage car?
When buying the salvage vehicle, ensure that you search the history of the vehicle.
How does someone salvage cars?
A salvage vehicle is one that has received a certain percentage of the vehicle's worth in damage (determined by the state the vehicle is registered in). To salvage a vehicle in most states, one must be licensed to repair the vehicles and the vehicle, once repaired, usually has to be inspected. If the vehicle is salvaged and repaired to be sold, it is the responsibility of the seller to disclose the salvage title.
What is the value of a salvage vehicle?
The value of a salvage vehicle is roughly 60% of the value of a comparable car with a clean title.
What to do or should know when your auto insurance salvages a vehicle?
In the U.S., Auto Insurance companies do not salvage a vehicle. If the vehicle claim is paid out as a total loss it is sold or auctioned off to a salvage or a junk yard. The junk yard may crush the vehicle for scrap metal value or salvage parts from the vehicle or even to re-title the car on a salvage title but this is totally up to the salvage yard or whomever the yard then re-sells the vehicle too.
If a salvage yard owns a car is the title considered salvage?
Depends on the existing title, if the salvage company owns the vehicle and it does not have a salvage title then they would be just another owner like anyone else and this vehicle would have a clean title assuming that there are no lean holders. On the other hand if the vehicle in question has already received a salvage/non repairable or similar title then salvage/non repairable or similar title would follow the vehicle not a clean title.
How do you determine that the department of motor vehicles has issued a salvage title for a vehicle?
As of 2013, the best way to determine if the department of motor vehicles has issued a salvage title for a vehicle is on the title it will state that it is a salvage title. A salvage title is a note that states that the vehicle has been damaged or deemed a total loss.
Is the warranty still good on a salvage title car?
No, the warranty is void on a salvage vehicle.
How do they determine the amount to pay for a total loss vehicle with a prior salvage title?
Typically the value is 20% of the vehicle's value without salvage.
Do you legally have to disclose that a car has a salvage title to a buyer?
Yes you do have disclose a salvage titled vehicle.
Is it the dealers responsibility to disclose to the buyer that a vehicle was purchased from a salvage yard?
DEPENDING ON WHAT KIND OF TITLE THE VEHICLE HAS IF IT HAS A CLEAR TITLE THEN NO IF IT HAS A SALVAGE TITLE THEN YES
Can a vehicle with a certificate of destruction be titled and driven?
In many states, a slavage vehicle can be inspected and receive a "salvage title". If you ever want to sell the vehicle you'll have to disclose the salvage title.
What does rebuilt salvage title do to value of car?
A rebuilt salvage title is issued when a vehicle has been declared a total loss. When that happens, the original title is "retired", and the salvage may be sold--often by an insurance company that paid the owner and acquired the salvage. As a way of recovering some of what it paid, the salvage will be sold by the insurer. The buyer of it may then repair the vehicle to make it road-worthy. The repaired vehicle is then issued a rebuilt salvage title in order to be "legalized" and used as a vehicle. The fact that it has a rebuilt salvage title will generally reduce the value of the car, because any buyer will know that the vehicle has at one time been totaled.
