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What Does a Salvage Title Mean?

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From Quick Guide: Car Title Instructions

Summary: A salvage title is placed on a car when an insurance company has deemed the vehicle a total loss due to an accident. Learn more about salvage cars with help from the marketing manager of a car dealership in this free video on cars.

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By Josh Barbour
eHow Presenter

Josh Barbour is the sales and marketing manager for Capital Ford Lincoln Mercury of Wilmington, N.C. His dad, Doug Barbour, is the managing partner, and they have been serving the...read more

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Video Transcript

"A salvage title is if you are going back in the past history of a vehicle at some time in its life it has been a total loss by the insurance company. It has been granted in such a way that the insurance company has paid out and because of that the vehicle then forever more is tagged as a salvage vehicle so that is not necessarily a terrible thing to buy a salvage title car you just need to be aware of that and it is legally required of the seller to disclose that the vehicle has a salvage and if you are the salvaged title owner it is your responsibility to disclose that the vehicle has been total lost and has been salvaged and whatnot so of course that depreciates the vehicle greatly almost to a junk type status. If you have an accident o some type or a flood and the estimate is greater than 50 to 75% of the value of the car before it was damaged then typically that is the ones that the insurance company will qualify as a total loss and total loss is equal to a salvage vehicle."

eHow Article: What Does a Salvage Title Mean?

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