Search results
Results from the WOW.Com Content Network
Title brands such as "salvage," "junk," and "rebuilt" are not standardized, and a vehicle which has such a designation may receive a clean title when registered in a different jurisdiction. Further, vehicles imported to or exported from the United States and Canada are issued a clean title, even if they have been involved in an accident.
Salvage title vehicles have little value, especially if you decide to trade in your vehicle and get a new car later. A dealership isn't likely to accept a car with a salvage title due to the risks ...
The title branding programs typically have two objectives: 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.
A salvage title car is a car that has been declared a total loss by an insurance company. To be declared a total loss, the vehicle must be damaged to the point that the cost of repairs would be ...
Salvage or rebuilt title cars are those that have been rebuilt after being totaled.
Traditionally, salvage only recognizes a ship or craft ("vessel"), cargo on board, freight payable, and bunkers carried on board as the subject of property in danger. The scope of salvage has been expanded by the 1989 Salvage Convention, and protection of the environment is part of salvage. Oil pollution can cause damage to the environment.
Vehicle titles are also used for car title loans, in which a car owner gives the vehicle lender their vehicle title as collateral in exchange for a loan. In addition to the vehicle title, lenders often also require the borrower to provide a set of keys for the car and/or purchase a roadside service plan.
In Michigan, salvage titles must be approved by a person licensed in mechanical repair and pass an independent inspection before being returned to the road. (The laws are similar in Wyoming, where ...