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Flood-damaged cars that are considered a total loss by an insurance company should be re-issued a "salvage" title. This means the vehicle has suffered extensive damage, typically making it unsafe ...
When storm cleanup starts, St. Louis automotive expert Jay Grosman says problems can start for car buyers. Buyer beware: Flood-damaged vehicles from hurricane-impacted states could flood the ...
Even once rebuilt and inspected, a branded vehicle must retain a permanent record of its traumatic past. Vehicle title branding is the use of a permanent designation on a vehicle's title, registration or permit documents to indicate that a vehicle has been written off due to collision, fire or flood damage or has been sold for scrap.
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 guide to understanding salvage title and flood-damaged vehicles Water-Damaged Cars Could Flood the Market in the Aftermath of Hurricane Ida: What Buyers Should Know Skip to main content
In insurance claims, a total loss or write-off is a situation where the lost value, repair cost or salvage cost of a damaged property exceeds its insured value, and simply replacing the old property with a new equivalent is more cost-effective. [1] [2] Such a loss may be an "actual total loss" or a "constructive total loss".
The title will typically have a stamp or marking indicating that the car has been salvaged or has flood damage. Asking about the title status of a vehicle is a good step in identifying whether the ...
Mass. officials warn used car buyers to be cautious of flood-damaged vehicles from recent storms. Here are some things to look for.