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I have a car that is financed through a bank. I recently found out that it has a salvaged title and I am having problems with getting full coverage insurance. the bank along with me didn't know it was a salvaged title at the time so what can I do.
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∙ 10y ago
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How does a salvaged title compare to a clear title?
a salvaged title on the car basically means the insurance company calimed the car as a total lost. either due to a major accident or theft. clear title means the opposite, the car has no problems on its history.
Can cosmetic damage be a salvaged title?
Yes, any condition that caused the car to be totaled by an insurance company could cause it to have a salvaged title. A good hailstorm can do thousands of dollars of cosmetic damage resulting in a salvaged title.
What is a salvaged title mean?
Car has been damaged and rebuilt.
Do Used auto dealerships have to tell you if the car has a salvaged title?
YES!!!!!!!!!
Salvaged title finance in california. Is it law in California that a car having a salvaged title can not be financed through a banking or credit union Stuck in a rut?
There is no law against financing Salvaged Titles. It is just that most banks and credit unioins chose not to finance these vehicles. The problem is that there can be liability if the vehicle is for whatever reason unsafe, and you sometimes do not know why a vehicle was salvaged. It could be because of frame damage or other serious damage, or it could be for water damage (i.e., Katrina), or it could be that it was just stripped by a theif, and has been rebuilt and is perfectly good, but since it was totaled by the insurance company, it is "salvaged". Some lenders will lend against a salvaged title. But they will take off 40% of the value of the vehicle due to salvaged title. So if the vehicle is worth $10,000 as a regular title, a salvaged vehicle will be worth about $6,000. I believe SafeCo might be a source for insurance. Car Cash Loans in Los Angeles (www.CarCashAuto.com) will lend against salvaged titles, according to their representatives.
If you are going to buy a car with a salvaged title how much less should it book for than the same car with a clean title?
1500
I'm looking for a lawyer because my car has a salvaged title can someone help me?
No
Can you get a title loan on a financed car?
Legally, NO !!! can you, sure!! LOL
Can you get a salvaged title on a car that's not wrecked just no one has the title?
Yes I can help you with that 832 683-1443
How much to sell a car with a salvaged title?
A salvage title car will bring far less that one without a salvage title. Deduct about 20% from the retail value.
My car was totaled. it already has a salvaged title. what will the insurance pay?
It depends on many aspects, however since it already has a salvaged total it will be significantly lessened than if it didn't already have a salvaged title. Your insurance company should be able to give you specifics as to why they are offering what they do.
If a car has a salvaged title can it still be legally sold by a car lot?
Absolutely,a dealer can sell you a vehicle with a salvaged title. Each state has there own laws but in most states you must disclose to the consumer that the vehicle you are selling to them has SALVAGED history. The selling dealer must disclose this on the state title forms and on the BILL of SALE.If the selling dealer does not disclose this,then you have a legal rights against the dealer.
