A salvaged vehicle is one that has been damaged and the insurance company has decisive is not price paying to allot. Everyone country has clashing regulations on what defines a salvaged vehicle and the limits placed on driving a salvaged motorcar.
Definition
The homeland Branch of Engine Vehicles issues a salvaged title since the insurance association has sure the van is not price repairing after an accident or a theft.
Causes
An insurance company declares a machine salvaged if the cost to repair the vehicle is greater than 75% of its value before the damage occurred. This percentage varies among states.
Advantages
Most insurance companies will only allow a vehicle with a salvaged title to be insured with liability insurance.
Warning
Most banks do not offer financing for salvaged vehicles.Some salvaged vehicles can be purchased at a discount, repaired for a reasonable amount and become a reliable car. Always have the car inspected and certified before purchasing it.
