When an automobile is issued a salvage title, the automobile can never get a clean title. The salvage title will always remain with the vehicle.
When I hear about a Title for a vehicle I think either clean or salvaged. I've personally never heard anyone use the term "Regular" for describing the title. Also someone could be meaning that they have the "regular title" for the car, which would mean they have the paperwork for it, which ON THAT paperwork it would show whether the vehicle is clean or salvaged.
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.
NOPE. Once a salavage always a salvage, though in some states it can be called "totaled/reconstructed".
Answerno.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.
You can file for a lost title
Nope..salvage title will stay forever
60% of the value of a comparable clean titled car.
In most states, a salvage title must be issued for any vehicle that has been deemed "totaled" or involved in an accident, settled with an insurance claim and then purchased for rebuilding and restoring to make it road worthy again. Once a salvage title it should remain that way from state to state if sold somewhere else. I have seen a Michigan "clean" titled issued for a Missouri " salvaged" titled vehicle but I think our state department didin't catch it. Carfax and Autocheck reports do show the history of these type of vehicles and there are some that slip thru the cracks of our paperwork society.
40% LESS than a comparable clean titled car
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.
You need to get a salvaged title , talk to whatever city you are in to get a salvaged title. The State will give you a salvaged title. Soil can turn black due to excess water that causes poor drainages.
The title itself will sate that the car is a salvaged vehicle.
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.
Car has been damaged and rebuilt.
If it's not driveable it's worth 20-25% of the value of a comparable clean titled car. If it's reconstructed and roadworthy it's worth 60% of the value of a comparable clean titled car.
You can ask anything you want to for it. Whether you can get it is another matter. California law requires you to tell them it is a salvaged title vehicle. If you do not tell them you have committed fraud and are subject to fines and jail time.Note: a legal salvage title will indicate that the vehicle is salvaged!
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.
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.
yes it is called a salvaged title
Totaled vehicles which have been rebuilt generally have a "salvaged vehicle" title, or whatever it's called in your state. Vehicles with a salvaged vehicle title are by definition, not as valuable as the same vehicle with a clean title. If the vehicle is subsequently in another collision, the insurance company will not pay as much since the loss was not as great. Insurance companies only need to pay you for the actual value of the vehicle.
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.