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In the state of Michigan, the issuance of a salvage title does not mean that the vehicle is also deemed a total loss. [6] Michigan issues a salvage title when the damage equals 75-90% of the pre-damage value; if the loss is 91% or greater the vehicle is eligible only for a "scrap" title, which cannot be subsequently upgraded by any means.
Even once rebuilt and inspected, a branded vehicle must retain a permanent record of its traumatic past. Vehicle title branding is the use of a permanent designation on a vehicle's title, registration or permit documents to indicate that a vehicle has been written off due to collision, fire or flood damage or has been sold for scrap.
Salvage title vehicles won't get a high payout if they're involved in an accident, and you may end up paying more in insurance than you would for other vehicles.
The current version has the reference number V5C. Prior to computerisation, the title document was called the 'log book', and this term is sometimes still used to describe the V5C. The V5 document records who the Registered Keeper of the vehicle is; it does not establish legal ownership of the vehicle. These documents used to be blue on the front.
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ELT offers a potential staff reduction in areas associated with filing, retrieval and mailing of certificates and a reduction of storage space needed for filing and storing paper certificates of title. There is increased ease of processing for dealer transactions. It may offer a reduction in title-related fraud. [1]
Retrieved from "https://en.wikipedia.org/w/index.php?title=Underwriters_Salvage_Corps_(St_Louis,_Missouri)&oldid=505584378"
Two-letter serial formats were used exclusively from 1961 through 1978, including the twelve-year period in which Missouri reverted to the use of single-year plates (1967–78). An ABC 123 format was introduced in 1979 with the maroon "Show-Me State" plate, which was issued through 1996; months which exhausted their allocations subsequently ...