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How High Must Damage Costs be for a Salvage Title on Cars?
A salvage title on a cars registration record should concern potential buyers. Salvage titles are issued when an insurance company determines that the repair cost of the vehicle is in excess of 75% of the vehicle’s market value. The exact percentage will vary depending on the insurance company. The range is usually from 50-95% of the vehicle’s market value. If a car is considered totaled and then rebuilt, a salvage title will be issued for the vehicle after it passes an inspection. A salvage title can seriously bring down the value of a car. Anywhere from 10-50%. if you are thinking of buying a salvage vehicle, be sure to have it thoroughly inspected.
For more info, see Benefits Of Buying A Salvaged Title
