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When you understand what it means to own a salvage title car, you can make educated and safe decisions. You Might Also Like. Car and Driver’s 10 Best Cars through the Decades.
A salvage title car is a car that has been declared a total loss by an insurance company. To be declared a total loss, the vehicle must be damaged to the point that the cost of repairs would be ...
The Kelley Blue Book automatically rates any salvage vehicle as "poor" and does not value it at all. [12] The value of a vehicle with a salvage title is generally 65-75% lower than the vehicle's estimated value. If the vehicle is rebuilt to a road worthy condition and has passed State inspection, the difference in price is 60-70% of "fair" KBB.
A vehicle with Arizona registration and a 'salvage' title for salt water damage would, for instance, represent a red flag as a vehicle possibly once affected by environmental conditions and events elsewhere such as Hurricane Katrina. Vehicles with salt water or hurricane flood damage often have severe corrosion and electrical problems which ...
In most jurisdictions, a decision by an insurer to write off a vehicle results in vehicle title branding, marking the car as "salvage" or (if repaired and reinspected under subsequent ownership) "rebuilt". If the vehicle is not severely damaged, however, it can be restored to its original condition.
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