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Flood-damaged cars that are considered a total loss by an insurance company should be re-issued a "salvage" title. This means the vehicle has suffered extensive damage, typically making it unsafe ...
The National Highway Traffic Safety Administration says it’s legal to resell flood-damaged cars if the defect is noted on the title, the vehicle has been rebuilt, and the vehicle has received a ...
Hurricanes Harvey and Irma left behind up to 900,000 flood-damaged cars that could re-appear on used car lots across the country. Here’s how to spot one. This was originally published on The ...
A deterrent to auto theft: If a vehicle is a complete loss due to an accident, its serial number (VIN, Vehicle identification number) and registration documents could still be of potential value to persons dealing in stolen cars. The diminished sale value of a title branded vehicle reduces the profitability of switching the registration and VIN ...
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.
The scheme is mostly employed where cars are merging, or in parking lots. The "Hit and Run" occurs when a suspect driver uses a pre-damaged vehicle, drives it to a public location and falsely reports being involved in a hit and run accident. [17] The police are often called to verify damages.
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