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Its my opinion that a salvage vehicle that has been repaired properly and is determined to be safe should sell for about 25% less than its book value. I am a salvage dealer and have found this to be fair to the buyer and seller.Just make sure the vehicle has been repaired properly as there's a lot of shoty people out there trying to make a quick buck off your ignorants. example an $8000 car should sell for $6000 a good deal if fixed properly.
If properly restored a repaired salvage vehicle is worth appx 60% of the value of a comparable clean titled car, which is why so many shoddy sellers try and sell a salvage car without revealing it's salvage! An $8000 clean titled car is worth appx $4800 as salvage/reconstructed. Taking 25% off as the above states is highly optimistic. Just ask your insurance company what they would pay out on your reconstructed salvage vehicle to get an idea of its ACV (actual cash value) and you'll see that they'll take more than 25% off! However, if you've done recent repair work and upgrades they will credit you for it in the event of another accident, provided you have receipts.
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How does someone salvage cars?
A salvage vehicle is one that has received a certain percentage of the vehicle's worth in damage (determined by the state the vehicle is registered in). To salvage a vehicle in most states, one must be licensed to repair the vehicles and the vehicle, once repaired, usually has to be inspected. If the vehicle is salvaged and repaired to be sold, it is the responsibility of the seller to disclose the salvage title.
Where in Wisconsin can i get my vehicle inpected to clear a salvage title?
Once a vehicle is considered salvaged, you cant get it clear for any reason, even after its repaired.
Can you get a clean title from a repaired salvage titile?
Can I get a clean title from a repaired salvage titile in NH?
What will your insurance company cover on your salvage title car if in an accident?
in most states, even if a salvaged vehicle has been repaired it is still a 'branded' title...and thus worth less.......in the states i work in a fully repaired salvaged title vehicle is worth anywhere from 30-50% less on a total loss, (reduces the actual cash value)........now, if salvaged vehicle say is worth 4k and damages are 1k, then they will repair the damaged portion......
I had my salvage title vehicle inspected by Ohio highway patrol but it still has a salvage title how do i get a clear title?
Once a vehicle has an Ohio Salvage title assigned, the history remains with that VIN until the vehicle is scrapped. The Registrar in your county will issue a Repaired Salvage , or "branded" Title that you can get your license plates with. You cannot obtain a Clear title for this car.
What percentage of car has to be damaged to be considered salvage?
here in nys, if the damage is more then the value of vehicle, then its toast. unless you want to pay beyond insurance and have vehicle repaired. but most people just salvage car if it is beyond repair.
What does rebuilt salvage title do to value of car?
A rebuilt salvage title is issued when a vehicle has been declared a total loss. When that happens, the original title is "retired", and the salvage may be sold--often by an insurance company that paid the owner and acquired the salvage. As a way of recovering some of what it paid, the salvage will be sold by the insurer. The buyer of it may then repair the vehicle to make it road-worthy. The repaired vehicle is then issued a rebuilt salvage title in order to be "legalized" and used as a vehicle. The fact that it has a rebuilt salvage title will generally reduce the value of the car, because any buyer will know that the vehicle has at one time been totaled.
Can you be reimbursed for damage to a vehicle with a salvage title if the other party is at falt?
Yes; why on earth would you think otherwise? The "salvage" title only means that it is a reconstructed, or rebuilt vehicle which has probably been heavily damaged and repaired. It is STILL your property, and in this respect, a title, is a title, is a title -- "salvage" has nothing to do with whether or not you own the property (vehicle). If some one else damages it, then they have damaged YOUR property.
What is a repaired title?
I am sure it is similar to a Salvage title. The car has been wrecked and repaired.
Where can I take my car and get it sold at a salvage place?
Most junk or salvage yards will give you cash for your old vehicle as nearly all the metal can be recycled. It is worth noting that the amount you get for your vehicle will be minimal. Most junk or salvage yards will also collect your vehicle for you, however they are likely to do this in lieu of payment.
How much cheaper will a fully functional salvage title vehicle sell for versus a fully functional clean title vehicle?
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.
What is the value of salvage truck?
A salvage car or truck, once restored to roadworthy condition is worth roughly 60% of the value of a comparable vehicle with a clean title.
