What exactly is salvage title in th US?

[jorian]

In Canada it means the car was written off by the insurance company and repair costs would have exceeded the end value.

How does it work in the US?

TIA.

[Spede]

Same in the US as well.

[jorian]

Thanks spede.

What about a car that has "rebuilt" on the title?

[rnln]

Another thing I just heard that if anything has to do with the motor or tranny, it's salvage. For instant through an accident which hit the motor and break something, or the motor is stolen, the car will be writen off.

[3.2 CAB]

The motor vehicle laws in the U.S. vary greatly from state to state. Each states insurance board, or commission, and the DMV control the types of titles available for salvage/rebuilt or bonded titles. Some states, the insurance commission and the DMV have a predetermined formula, for vehicles, if it qualifies for a rebuilt, or if it can only be a salvage title. If you need more info, go to the website for the particular state DMV, that you need to obtain the details.

[Porsche_monkey]

Rebuilt usually means the title has been converted from 'salvage' at one time. i.e. the car was written off but repaired sufficiently to be roadworthy again.

A rebuilt title will generally devalue a car a lot. The car may as good, or better, than new, but it will never has a grat resale value.

[dimeified]

Thats how i got my carrera. Salvage title, 225,000 on the body. Engine rebuilt, fresh paint, convertible top, custom interior, steering wheel, f-glass bumpers, 17" wheels, all done by the PO, and because of that salvage title, I was able to swing it for 8k. Only problem was a frozen brake caliper.

Now, was it in an accident prior to my ownership? Who the hell knows.

I've seen the receipts, and the driver door was R&R, and i saw a business card for a repair shop in the glovebox, all kinds of receipts for rebuilt DME, and other things, maybe the bumpers were wrecked, and f-glass bumpers were cheaper.

OR, It could've been the PO's project he picked up from the OO who got bored of it (i'm the third). I have the documentation from the dealership, i've seen carfax records, havnt seen any accidents reported. I have seen Mileage Exempt, and that i believe is the reason for the salvage title.

For 8k this was a steal, the guys at Powertech in Rockaway who Post Purchase Inspected, yes, POST, were pretty impressed with it, and said it was well worth it. I will drive this car to the grave, i bought it for fun, not resale value. If resale value is your point of purchasing, avoid salvage, otherwise work out a deal with "resale value" being the reason for your lowball offer.

[Porsche_monkey]

Theft recvery vehicles are often sold as salvage, regardless of the damage. I assume this is because of liability issues.

[cgarr]

With the cost of repairs on these cars it does not take much to get it up to salvage status. Just a good paint job could exceed its end value alone.

[tcar]

Originally Posted by Spede

Same in the US as well.

Not actually true. No US law. Varies (widely) from state to state.

[cashflyer]

And because the law does vary from state to state, you sometimes end up with title issues if you buy a car from one state to another. I bought a car from NC, titled it in SC, and ended up with a title that said "EXEMPT". I asked the DMV clerk about this and she said that there is enough variance in the law between the two states that it's just "easier" for them to put EXEMPT on the title.

What's easy for them may not be good for you.


added:
The "problem" with the NC title was that there was an odometer discrepancy. (Current miles on the car was less than the miles reported on the NC title at the last sale. IE: odo rollback)

[3.2 CAB]

Some states also have a "Flood" or Water Damage title, most of this type, can't have the type of title changed, unless you buy it out of state, and bring it to your own state to title it. Some states even have reciprocity with certain other states concerning DMV laws and rules.