What You Should Know About Salvage Title
A salvage title is an interesting variation on the standard title issued by your state Department of Motor Vehicles. The wording of the title document may vary by state. There may be other differences obvious or subtle to look for on the title. An obvious difference would be if the document happens to be of different color paper than a usual title is. Or a more subtle variation is that there may be some colorful adjectives, which will constitute a red flag. Such as; “Flood Damaged” or “Rebuilt”.
Vehicles are issued salvage titles for numerous reasons. Several condition types may be labeled with a salvage title. Examples are; a flood or fire damaged vehicle, a car that has been in an accident and has been judged for insurance or other purposes as not worth repairing, a stolen automobile or a vehicle that has been damaged in some other way like from hail, an earthquake or other so-called “acts of God”.
People are always looking for bargains. Don’t purchase a car without thoroughly examining its title document. You need this to detect any possible language that might identify it as a Salvage Title.
With the increase in catastrophic weather occurrences attributed to global warming like Hurricane Sandy, tornadoes or what have you, the chances are good that used vehicles, with prices that seem too good to be true, due to the above and other reasons, will continue to be on the rise as they are currently.
Nevertheless, a salvage title can actually be a good investment. As long as you know what you are getting into and are willing to take the associated risks of owning such a fixer-upper. There’s the rub.
Let a mechanic look at it
Purchasing a salvage title is rolling the dice on your transportation. With the payoff being a more affordable ride, many will still go for it. If you can have a competent mechanic look over your prospective bargain then it may indeed be a risk worth taking.