North Carolina Salvage Title Information
If your car gets damaged, you may have a salvage vehicle on your hands. In this circumstance, you and your insurer have a number of options as to sale and title transfer. North Carolina attempts to ensure fair resale practice.
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Identification
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When a car becomes damaged, especially when those damages are considerable, your insurance provider may designate it as salvage. They will then pay you a sum of money for the vehicle. In North Carolina, like most states, you have the option of either transferring the car's title over to the insurer or of retaining it.
Features
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However, in North Carolina there needs to be specific documentation to transfer a title. If you or your insurer decide to sell the car to someone -- and thus hand over the title -- you have to be entirely transparent about the vehicle's salvage status as well as any damage that it suffered. If you don't, you'll face misdemeanor charges.
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Considerations
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In North Carolina, the buyer of a salvage vehicle has the option of thoroughly repairing it and then being granted a fresh title. In this case, they can simply sell the car again without that salvage status. If you engage in this process in any role, ensure that the title is authentic by contacting state motor vehicle authorities.
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