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Public Information Act. Capital Projects and Schedule. Commissioners Court Agendas and Public Notices. Contracts and Procurement Summary. County Buildings and Utility Reports. Debt Obligation. Economic Development. Property Tax Rate. It is possible to pick up a vehicle with a salvage title at a considerable discount. It creates an opportunity to pick up a good deal if one can have the vehicle repaired at a good price.
However, salvage titles are widely regarded as less valuable on the market. Insurance companies generally consider these vehicles to have extremely low market value. That can be a substantial problem if you are in an accident and attempt to make a diminished value claim on your vehicle. Because insurance companies generally treat a salvage titled vehicle as having little or no market value, you will find it extremely difficult in most cases to persuade a claims adjuster that there is any diminished value on the vehicle.
Practically speaking, we can agree that a vehicle in working repair has some value even if it has a salvage title. Finding diminished value, and perhaps a lot of it, might not be very difficult. Resale value is another problem as buyers are leery of salvage and rebuilt title vehicles. Many believe they are not as safe as clean-titled vehicles, are wary of their low resale value, or misunderstand what a salvage title means entirely.
Pricing on salvaged cars is generally well below Kelley Blue Book or market value. If you're planning to rebuild a salvage car, you must prove that to your state's DMV. For example, you will need to show that your Honda submerged in floodwaters didn't only have the upholstery and carpet ripped out and replaced.
You have to show proof that an authorized facility repaired all the salvage damage and that missing or damaged parts were replaced in the process.
In some cases, a salvage title can be issued for very minimal damage. For example, one car on a lot is flooded, and the insurance company assumed that all of them were damaged.
However, there are titles where the damage leading to the salvage is indicated. Then the onus is on you to prove to both the state and the insurer that the car is roadworthy. Because insurance companies are rightfully suspicious of vehicles having hidden damage that will make them unsafe to drive or more easily damaged in an accident, getting insurance can be difficult at best.
You can mitigate their concerns by thoroughly repairing the vehicle to start and then having it inspected by an ASE-certified mechanic.
Keep track of all repairs and take plenty of pictures. Have the car put through an emissions test and any other necessary tests depending on the state it will be registered in. One of the biggest fears with rebuilt titles is frame damage. Make sure that your vehicle is repaired by someone qualified to make those types of repairs and that they thoroughly document the repair process.
Buying Guides Share. By Autolist Editorial July 14, The term "blue title" usually refers to the title of a salvage vehicle. Certificates of Title A blue title in most states indicates the titled vehicle has a clear title.
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