Repairable Salvage Cars For Sale – Salvage Vehicle 101

First of all, when you hear someone talk about “salvage title”, what does that mean, exactly? Why are repairable salvage cars for sale deemed salvage?

The vehicle is branded “salvage” because it has been damaged and/or deemed a total loss by an insurance company. There’s a lot of wrecked cars for sale out there! If you are lucky enough, you can find repairable salvage cars with very little damage and in great mechanical condition.

When you buy a salvage car at a car auction, while it’s a great option, it also involves some risks. You can’t just buy a salvage car, do some repairs and take it for a spin. It’s a bit trickier than that. Once the car becomes “salvage”, it can no longer be legally driven on the road. It needs to be thoroughly repaired and rebuilt according to the law.

Who Decides If A Car Is Salvage Or Totalled?

Usually, it’s the insurance company that brands a vehicle “salvage”. When the repair or replacement cost surpasses 70% of its value at the time of the theft or accident. The thresholds range between 50% and 95% of the vehicle’s value. The “total loss” title is up to the insurer. The actual percentage of the determination of the salvage status varies by state.

The vehicles that received the salvage title because of theft can be a low-risk purchase at an auction since they have little or no damage. Eleven states issue salvage titles to stolen vehicles: Arizona, Florida, Georgia, Illinois, Maryland, Minnesota, New Jersey, New Mexico, New York, Oklahoma, and Oregon. Often times a vehicle is declared a total loss when it’s stolen and later is recovered in good condition.

If you want to buy repairable salvage cars for sale and rebuild it for yourself or to resell it, you should look into the legal requirements. Each state has its own peculiarity, with some states being more demanding than others. So before you buy a salvage vehicle, the first thing you need to find out is how are the rules on your state regarding these cars.

Are Repairable Salvage Cars For Sale For Me?

Car lovers and people willing to invest in these types of vehicles might be attracted by the fact that you are able to find a car that is not being produced anymore or a fancy new car for an absurdly low price. Or even if you want to buy a new model but don’t have enough money for it and have the necessary set of skills to fix the vehicle, salvage car may be your thing.

But even if you don’t plan to resell or collect the salvage car or if the car is deemed “unrepairable”, you can still use it for parts. Either way, you are getting more for less.

If you do your homework, you might be just fine.