A salvage title significantly impacts a vehicle's value and insurability. Vehicles with salvage titles typically sell for 30-50% less than clean title equivalents. They cannot be legally driven on public roads until repaired and re-inspected by the state, at which point they receive a rebuilt title.
Salvage Title
A title brand issued when an insurance company declares a vehicle a total loss, meaning repair costs exceeded a certain percentage of the vehicle's value.
Definition
A title brand issued when an insurance company declares a vehicle a total loss, meaning repair costs exceeded a certain percentage of the vehicle's value.
Related Terms
Clean Title
A vehicle title with no negative brands or history of being declared a total loss. Clean titles command the highest resale values.
Rebuilt Title
A title issued after a salvage vehicle has been repaired and passed a state safety inspection. Also called a reconstructed title in some states.
Total Loss
When an insurance company determines that the cost to repair a vehicle exceeds a certain percentage of its actual cash value, typically 75%.
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