Salvage Car Value

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Sell A Salvaged or Rebuilt Car – Here’s How Much Your Salvaged Car Is Worth

If you’ve got a scrap car on your hands, the next thing on your mind would be how to get rid of it and make some money from it in the process, right? Exactly. Before we go any further, we’d like to clear the air by stating that having a scrap car is similar to having a salvaged car. But, if a salvaged car is repaired it can be worth more than a scrap car.

What Makes A Car “Salvaged”

Your car is salvaged when your insurer has determined that repairing or replacing your car would be too expensive. This could be as a result of your car having stolen parts, has been in a terrible accident that totaled it, was vandalized or damaged from extreme weather conditions such as flooding.

So, can you sell a car with a salvage title?

Well, we’d get to answer that and many other questions you might have in this article. Keep reading…

What Does A Salvage / Rebuilt Car Title Mean?

Knowing what a salvage or rebuilt title car means greatly depends on the state you live and the laws particular to that state.

What do these titles mean?

Well, a rebuilt title is put on a car that was formerly a salvage car but got fixed and was restored to working condition.

Before your car would be rebuilt, it must have been totaled or extremely damaged and refurbished parts are usually used when rebuilding it.

Can I Get My Salvaged Car Back On The Road?

Most states in the USA would require you to carry out a thorough check or inspection on your car before it can be allowed to hit the road again. In the case of having a salvage title placed on your car, it means your insurer has declared it as a totaled car after you probably got into an accident with it. You can’t drive a salvage car on the main roads or be allowed to have a valid license plate. Hence, if you desire to still drive your car, you’d need to have it repaired – if that would work – to turn it into a rebuilt car that’s roadworthy.

The Guidelines Differ from State To State

The guidelines for your car, if it’s rebuilt, will differ from state to state. We’ve previously stated that before your car can return to the road, it will need to be inspected before the ‘rebuilt title’ can be issued to it from the Department of Motor Vehicles (DMV) in your state. Your car having a salvage title will let you know if your car can be fixed and driven or need to be sold for parts. If you live in Florida, the state permits your car to have a salvage title only if your insurer has declared it to be totaled. In New York and Louisiana, they permit or issue your car’s title when the damages have been estimated to reach 75 percent of your car’s retail market value. If you live in Georgia, you’re likely going to find the rules a bit more complex for having a rebuilt or salvage title on your car. The state’s Department of Revenue Notes states that anyone who buys a salvage car must be licensed as a rebuilder before he/she can be allowed to fix or rebuild it. Let’s look at one more state…Nevada. In Nevada, if your salvage car has had some particular repairs carried out on it, it’s required that it’s titled as ‘rebuilt’. This holds even if your car doesn’t fully classify as a salvage car. The certain repairs or fixes that you’d carry out before the ‘rebuilt title’ can be issued includes having either one or more of the following parts of your car replaced:

  • The cowl assembly
  • Your car’s complete front inner structure Rear clip assembly
  • The conventional frame alongside another major part
  • The roof assembly
  • Floor pan assembly

Before you sell your rebuilt car to a buyer to drive, you should have it inspected by your mechanic to confirm its road worthiness. Since it’s difficult determining the true value of a rebuilt car, most car insurance companies don’t offer or have policies governing rebuilt cars. If they do, it won’t be like the normal insurance coverage but for liability. So, don’t consider selling your salvaged car for cash until you’ve gotten yourself familiar with the rules governing salvaged or rebuilt cars in your state as some states have stricter regulations than the others.

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  • spin238 ·  April 7, 2024 at 2:23 AM

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