Updated: Aug 21
A salvage title is given to a vehicle that has suffered severe damage from an accident, natural disaster, theft, or other incidents. The vehicle has been declared a total loss by the insurance company due to the extent of the damage.
A vehicle receives a salvage title when it has undergone significant damage, but it doesn't mean that the vehicle is irreparable. After the required repairs have been made and the vehicle passes inspection by the appropriate authorities, it can return to the road.
Buying a salvage title vehicle is not necessarily a bad idea, but it does require careful consideration and research. It is advisable to get a pre-purchase inspection before buying a salvage title vehicle. However, keep in mind that purchasing a car with a salvage title is a risk, and financing institutions might be hesitant due to the vehicle's reduced value. Such vehicles typically have a lower resale value.
Not all salvage title vehicles are unsafe or bad. The safety of a salvage title vehicle depends on the quality of the repairs made. However, it's essential to thoroughly inspect the vehicle and its history to ensure it meets your expectations.
Selling a salvage title vehicle can be challenging. Typically, private sales may yield better value, but you might also consider a salvage yard or a website that specializes in selling damaged vehicles if the selling process becomes difficult.
Yes, you can check why a vehicle received a salvage title. Running a Vehicle Identification Number (VIN) history report will provide this information. Various platforms can provide detailed information using a car's VIN.