50% from non salvage title
Typically, salvage vehicles' value are 40% less than that of a comparable car with a clean title. This is assuming the car has been repaired/rebuilt properly and is roadworthy.
A salvage title will reduce the value of an automobile by about 50 percent. However, in some cases, it will reduce the value by 80 percent.
A salvage title car will bring far less that one without a salvage title. Deduct about 20% from the retail value.
At least half the blue book value. Baal aged cars are sometimes uninsurable or insurances costs are much higher. Vsonthe value of the car is much much less
Once a salvage always a salvage or totaled/reconstructed; you cannot legally get a clear title the brand will remain. A reconstructed and roadworthy salvage car is worth 60% of the value of a comparable clean titled car. If it's still salvage maybe 25% of the value of a comparable clean titled car.
Few, if any will give you a loan. That's why it's best to either avoid high-priced salvage cars or buy older cars that have been totaled with cash - it doesn't take much to total an older car these days and the damage could simply be cosmetic. Some Prior salvage cars are even better than clean title. Prior Salvage and Clean Title difference is only that one title shows that the car was in accident and Clean Title will never show it - even if it was in worse accident. Like some say you will have problems with Prior Salvage Title, it is NOT true though.
It's not legal, ethical, or possible. A salvage title is a permanent brand. DON'T DO IT!!
It means the car was wrecked, or flooded, so badly that it was sold for salvage. The cost of repair was 80% of the value of the car. The car was then bought by someone and repaired. Thus the salvage title. Run from this vehicle as fast as you can. == At resale time a salvage/reconstructed vehicle will net 60% of the value of a comparable car with a clean title. Cars are totaled when repairs top 75% of its real market value. An older salvage car can be a fine purchase since they are worth less and it doesn't take much to total them (even a little side swipe will total an otherwise fine car and it will drive fine). Avoid flood damaged cars as they can have a lifetime of quirky electrical problems. Don't believe the scaredy cats that say RUN from a salvage car--if the salvage/reconstructed car is in good condition and passes a pre-purchase inspection it can be a great deal.
It worth appx 60% of the value of a comparable clean titled car so if it is worth $5000 with a clean title it's worth roughly $3000 with a salvage title.
Assuming it's been repaired to roadworthiness, roughly 60% of the value of a comparable 99 caddy with a clean title.
Deduct at least 25% of the book value.
It's not necessarily bad. I have purchased salvage cars twice with fine results. It all boils down to why it was declared a total loss by the insurance company. Older cars are easily totaled, even a minor fender bender can turn an older car into a salvage vehicle since older cars are worth less and if the damage costs more than 75% of the car's value the insurance companies total it. Now a newer car with a salvage title spells trouble since that could mean the car sustained over $15K in damages and that's major. You just need to know why the car was totaled, have it inspected by a mechanic, don't pay too much (it's worth roughly 60% of a comparable car with a clean title) and run it til it dies since they are harder to sell than clean titled cars. Still, I've purchased a Toyota and a Volvo with salvage titles and they are the best running cars I've ever owned. People always say run from salvage cars,which is a blanket statement that is often untrue and unfair. Consider this: $4000 in rear end damage on a new car = no salvage title. Same damage on an 8 year old car = salvage title. Same damage, different titles. Lesson: A clean title does not mean a clean car. At least with a salvage title the truth is up front.
Respective of the Vehicles title condition, You are entitled to fair market Value. Basically this means you are entitled to the amount it would cost you to purchase the same or similar type and condition vehicle. when you say has a clean title but had a prior salvage title, i am assuming you mean that the vehicle was repaired and inspected by your state and deemed no longer a salvage title? if that is the case then there would be no additionaldeduction for the 'branded' or salvage title which can lower a vehicles actual cash value anywhere from 25-50% whether repaired or not.........more details and perhaps i could be of more assistance......
No, No, No, a thousand times NO!!! You are just asking problems. I have purchased salvage cars twice with fine results. It all boils down to why it was declared a total loss by the insurance company. Older cars are easily totaled, even a minor fender bender can turn an older car into a salvage vehicle since older cars are worth less and if the damage costs more than 75% of the car's value the insurance companies total it. Now a newer car with a salvage title spells trouble since that could mean the car sustained over $15K in damages and that's major. You just need to know why the car was totaled, have it inspected by a mechanic, don't pay too much (it's worth roughly 60% of a comparable car with a clean title) and run it til it dies since they are harder to sell than clean titled cars. Still, I've purchased a Toyota and a Volvo with salvage titles and they are the best running cars I've ever owned. People always say run from salvage cars,which is a blanket statement that is often untrue and unfair. Consider this: a new car gets rear-ended and has $5000 in damage; it gets to keep it's clean title. The same damage on an eight year old car would total it. Same damage, different title. A clean title, therefore, does not mean a clean car. At least a salvage title is honest and upfront about prior damage!
A salvage title can lower a vehicles value by 50% of KBB. Part of the mystery of buying a used car is uncovering the auto's "story". A car that is accident free, theft free, and has a low number of owners is worth more than the opposite. Vandals, thieves, and the 10th owner tend to care less about the vehicle than the person who proudly picked it up new from the dealer. Make no mistake, a salvage title is issued by an insurance company because of money. It either costs less to replace it rather than repair, or it can't be fixed economically enough to justify it. Other situations include theft. If a car is recovered after the insurance policy has paid the owner the title can be branded as salvage. The insurance company then retains ownership of the vehicle and it is often auctioned. So then why does a salvage title lower value so much? Because you, the uninformed consumer can't tell why it was branded salvage. You can be told anything, but the title only says salvage. Its up to you to decide its value. As with anything buy with caution and know that it will also change your resale value. Also, check with your insurance agent because the second total loss could be yours.
Yes, but you won't get much for it - even if it's been restored to look like new you'll still only get around 40-50% of the value of a comparable car with a clean title. Probably better to sell it privately.
That is what a salvage yard receives when a vehicle is purchased at auction and intended for being parted out, totaled insurance wrecks, or tow yard impounds. In some cases the vehicle is in good enough shape that with some repair it can be road worthy again so it is sold with a salvage title. When the vehicle is inspected and once again registered a normal title will be issued. === === == The above answer is correct until the last sentence. When a car is in an accident, flooded or sometimes even stolen/recovered (things vary from state to state) and the repairs exceed 75% of the car's value it is totaled and issued a salvage title. Once a car is issued a salvage title it can not legally be made "clean" again, only salvage/reconstructed or totaled/reconstructed depending on how a state words it. Unscrupulous sellers can always find an illegal/unethical away around this but since a reconstructed car(i.e. a salvage car that has been rebuilt to roadworthy standards) is worth 40% less than a comparable clean titled car, buyers need to beware and do their homework with Carfax, VIN and title number checks before they purchase any used car. Otherwise, they will pay too much for what they get. Salvage cars can sometimes be fine purchases, just pay the right price!
The best thing to do when buying a used car is to run a Carfax or, if the car is titled to the state you live in call the DMV with the VIN or title number. There are ways to hide a salvage title from state to state so do the legwork! If you still like the car and are pretty sure it has a salvage title it may still be an ok car, especially if it's older since it doesn't take much more than cosmetic damage to total an older car. Just have a good pre-purchase inspection and don't pay more than 60% of the value of a comparable car with a clean title.
Yes, and in most states if you rebuild/restore the car to roadworthiness you can get a totaled/reconstructed title. Don't pay too much, they are worth much less than a comparable clean car and the value is often subjective.
That title itself is worth nothing. It is the car the title is for that has value.
If the vehicle has been repaired, inspected and approved by the Highway patrol, after resubmitting the title it will come back with ''prior salvage title'' rather than 'salvage title'. The vehicle is still worth some less than a vehicle with a 'clean' title. You could of course get a company that doesn't do it's homework to cover you, but beware not declaring this in the application for insurance is a dangerous thing. Also should a claim result this will come to light. Just be honest about it and you should be able to have coverage and not worry about 'if' a claim should come up.AnswerYes, you should be able to get insurance but salvage/reconstructed cars are worth roughly 60% of the value of a comparable clean titled car so if you ever crash or total the car again you will get less money as a payout so don't pay too much for the car in the first place and check with your insurance agent about specifics. Depending on the car's cost it might be best to just put liability on it. Salvage cars can be great deals, especially if you don't pay too much and plan on driving them into the ground! It is not complete truth. I have bought some Prior Salvage cars and was able to get full Coverage Insurance. When I was in accidents - I have got for a car as dealer price. I had Honda civic 1997 coupe. I had accident where only needed fender and headlight and a little of work. I have got $1000. Same thing happened on my Villager Van when I hit a deer.
Any vehicle, whether a total loss or not, has a value. A totaled vehicle, of course, has a significantly lesser value (assuming the actual total loss has already been settled with the vehicle owner). This value can be anywhere from 5 - 25% of the pre-loss value of the vehicle. If you decide to keep a totaled vehicle after settling with an insurance carrier, they can legally remove the salvage value from your settlement. It shouldn't be much, and you can request that they actually get a salvage quote from a salvage yard. The idea behind this is that you can't legally profit from a loss. In your case, if your totaled vehicle has a salvage value, and you're keeping the vehicle, the insurance carrier must deduct that salvage value. Otherwise, you will get a full settlement, and still retain a vehicle with some value. But...try working with the carrier on what that salvage amount is going to be. Sometimes they'll adjust it to get the loss settled, since you never "really" know what the salvage value is going to be until the vehicle is sold at a salvage yard auction.
Homeowners insurance does not cover vehicles used on public roads. It should not be a problem. Geico insures salvage cars, as do most insurance companies. Just remember the car is worth less as a salvage if it's re-totaled the actual cash value of the car is about 40% less than a comparable clean titled car. And it's easier to re-total the car a 2nd time since it's worth less, so minor damage may re-total it. Lesson: don't pay too much for salvage cars and don't get in an accident! **14Jun11- Just called Geico and they said will insure my Salvage Title here in New Mexico, but will also allow me to add Comprehensive to the policy. The company I am currently with will also insure the vehicle for liability but WILL NOT insure for comprehensive. The choice is to go without comp or switch companies. You decide!
how much does cost to transfer a lang title? ITs a % of the land value.
I guess you mean salvaged?It's like anything, it's only worth as much as someone will pay for it. Salvage cars are bad news, I advise you to stay away and buy proper cars.
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