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Experts recommend caution when purchasing a salvaged vehicle, because there may be hidden damage, [3] which, if unrepairable, may render the vehicle a "pile of parts." [4] A junk title is a different classification for cars that can only be used for parts or scrap, and are not to be repaired to road-worthy conditions. [5]
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 some cases, when the car has become disabled in a place where derelict cars are not allowed to be left, the car owner will pay the wrecker to haul the car away. Salvage yards also buy most of the wrecked, derelict, and abandoned vehicles that are sold at auction from police impound storage lots, and often buy vehicles from insurance tow ...
The lawsuit accused the business and its owner of failing to provide vehicle titles to dozens of car buyers. SJ Motorworks and its owner, Shane Beers of Akron, will pay $37,370 to the Ohio ...
Auto dealers will be barred from luring vehicle buyers with promises they do not keep and will not be able to charge junk fees - like a service contract for an oil change for an electric vehicle ...
The Federal Trade Commission (FTC) is cracking down on junk fees. The new rule is expected to save consumers more than $3.4 billion, the FTC said. The FTC's rule goes into effect on July 30, 2024....
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