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Understanding Common Car Titles For Damaged Vehicles - Autos - Nairaland

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Understanding Common Car Titles For Damaged Vehicles by ercmediacorp: 5:58pm On Mar 27, 2020
Be it New York or Nevada, salvage car generally go for unbelievably low prices but the challenge lies in finding a deal that suits your prerequisites. The vehicles up for sale have different title brands, which also influences their market value. So, if you are planning to buy a repairable car, it is important to be aware of the different title brands.
�Salvage
A vehicle may be given a salvage title due to a number of reasons, but the most common is severe damage. The title is generally given to cars that have sustained major damage and have been declared as ‘total loss’ by an insurance company. This usually happens when the cost of repair exceeds 60 percent of the fair market value of the vehicle, but that changes for every US state.
�Flooded
As the name suggests, the flooded title is given to those cars that have sustained extensive water damage that will cost too much to repair or has compromised the safety of the vehicle. Before buying a car with a flooded title, conduct a thorough inspection to determine how extensive the damage is, and if the vehicle can be returned to operable status.
�Reconstructed/Rebuilt
A reconstructed or rebuilt title is given to cars that have been extensively repaired or restored after being given a salvage title. Although vehicles with a reconstructed title are generally safe to be used on the road, it is important to remember that they may still retain their salvage title in some states, as the laws vary from state to state. So, if you are unsure about the laws in your state, contact your state’s DMV.
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