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What is the value of a salvage vehicle?

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Answered 2008-02-27 17:28:04

The value of a salvage vehicle is roughly 60% of the value of a comparable car with a clean title.

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What is the salvage value of a 1996 Ford Wind star van with a bad engine?

There is no set value of a salvage vehicle. Value is based on what they offer.

If your insurance company says your car is a total loss but you want to have it fixed can they charge you a salvage fee to keep your own car?

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.

How do they determine the amount to pay for a total loss vehicle with a prior salvage title?

Typically the value is 20% of the vehicle's value without salvage.

Is the salvage value of a vehicle the same as its book value?

NO, salvage value is subjective. The salvage price is usally set by bids. Depends. If it's salvage the price is very subjective. If it's salvage but reconstructed (i.e. roadworthy) it's typically worth 60% of the value of a comparable car with a clean title. Use and to determine appx value.

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.

What's a Salvage title vehicle value?

If it's still salvage about 20% of the value of a comparable clean titled car. If it's reconstructed/roadworthy about 60%

How does the insurance company determine the salvage value of a vehicle?

Salvage vehicle value is highly subjective but if the car was properly reconstructed and is roadworthy it is worth roughly 60% of a comparable clean titled car. Go to to get an idea of the car's value. If it's salvage but not roadworthy, maybe 25% of the value of a comparable clean titled car.

What to do or should know when your auto insurance salvages a vehicle?

In the U.S., Auto Insurance companies do not salvage a vehicle. If the vehicle claim is paid out as a total loss it is sold or auctioned off to a salvage or a junk yard. The junk yard may crush the vehicle for scrap metal value or salvage parts from the vehicle or even to re-title the car on a salvage title but this is totally up to the salvage yard or whomever the yard then re-sells the vehicle too.

If deductible being deducted from settlement value why do they still deduct salvage value?

A deductible is a product of first party vehicle coverage. You are able to choose the amount of that deductible. The higher your deductible, the lower your premium. Remember, insurance is a 'shared risk'; if you choose NO DEDUCTIBLE, your rate will be higher - if you choose a high deductible, your rate will be lower. The salvage value has no relationship to the deductible at all. You will owe your deductible whether your vehicle is repaired or considered a total loss. Your premimums are based on the deductible you chose, so at no time will your company waive that deductible. You are given the choice of the deductible amount when you purchase the policy. The salvage value is not technically deducted, it is actually added back IN, after the vehicle is sold at salvage market. YOU, as policyholder, have the option to 'retain the salvage', that is, retain the vehicle, in which case, the salvage value would REMAIN deducted, i.e., remain 'out of' the settlement value. Deductible: an option given at the time of policy inception; policyholder controls that amount by choosing ... Salvage value: the amount at which the vehicle sells at a salvage auction, unless the policyholder/owner wishes to retain the vehicle (i.e. 'retain the salvage')

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.

What is the salvage value of a 2005 Kia Sedona?

Take the normal market value of the vehicle and multiply it by 15-20%. You can do this at to determine the value.

How can you ell if you bought a vehicle with a salvage title?

It will say "Salvage" vehicle on the bottom right corner of the title. No vehicle can be sold without indicating if its a salvage, rebulit or a regular title.

How to compute after tax salvage value?

Salvage Value - [Tax * (Market Value - Book Value)

Do you have a right to retain a totaled vehicle for salvage value or can insurance carrier require you to give them car?

Yes, you have the right to retain you car at salvage price at time of settlement.

Do you need to be advised it's a salvage car?

When buying the salvage vehicle, ensure that you search the history of the vehicle.

Difference between scrap value and salvage value?

Salvage value is defined as the value of the product after its useful life .In other words it is the value after depreciation. Salvage value also known as scrap value.

Is there a formula for determining the selling price of a vehicle with a salvage title as compared to the same vehicle with a non-salvage title?

Assuming it's reconstructed/roadworthy, take 40% off the value of a comparable clean titled 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.

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.

What is a restored salvage title?

it just means that said vehicle has been damaged and an insurance company has considered it to be damaged beyond its value. if it is a "rebuilt" salvage title then it can be used as any other vehicle on the road, it just may effect the cost of insurance.

Who is the owner of salvage in net loss basis claim settlement by insurance Co?

I assume that you are referring to an automobile policy where the vehicle was a total loss. The insurance company will pay you the actual cash value of the vehicle but in order to do this title of the vehicle passes to the insurance company which gives them ownership of the vehicle. Some companies will allow you to keep the vehicle but will deduct a negotiated value for the salvage. I highly recommend that you educate yourself about the requirements in your State in dealing with a totalled vehicle. Most States will require the vehicle to be repaired and inspected in order to register the vehicle for road use after which you would receive a salvage title. If you want to use the parts only then these requirements don't pertain to your vehicle.

How do you get a clear title in Florida And How much does a salve vehicle title markdown the price?

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.

How do you determine that the department of motor vehicles has issued a salvage title for a vehicle?

As of 2013, the best way to determine if the department of motor vehicles has issued a salvage title for a vehicle is on the title it will state that it is a salvage title. A salvage title is a note that states that the vehicle has been damaged or deemed a total loss.

Is the warranty still good on a salvage title car?

No, the warranty is void on a salvage vehicle.

I want to know how to find the salvage worth of a particular vehicle?

If the car is still salvage figure 20% of the value of a comparable running car and if it's been reconstructed around 60% of the value of a comparable clean titled car. check for appx clean titled value.