Looking for a new car means new possibilities for your "on the road" aesthetic. When you find a promising listing that has everything you want, excitement can easily develop. One of thing that can bring down your car search happiness is finding out the vehicle that you really want has a salvage title. Some people are not aware of what a salvage title is or why an awesome car may have one. Here are a few reasons that cars get salvage titles and what it means for your purchase.
Car was totaled
One of the main reasons that vehicles receive the dreaded salvage title is because they have been declared a total loss by the previous owner's insurance company. This can mean many things. Some totaled vehicles are just so old that the insurer feels they are not worth fixing, though extensive damage was not done. Other vehicles are brand spanking new and have been wrecked in a major way. After a vehicle is totaled, the only way it can get on the road is a salvage title.
Hail damage and flooding will do a car in, at least as far as the insurance company is concerned. Cars that have been in a flood or vehicles that have sustained extensive damage due to torrential rains or hail will typically be totaled. These cars can be a major bargain to purchase, in both ways. They are likely to be priced low, but will be a toss-up as to reliability and safety.
A total recreation
A custom-built car on the road can be a major find. It can also be a major bummer when you find out the car's title is not on the up and up. Some cars are purchased for the sole reason of turning the vehicle into a custom car. This may be done by racers or by those who are interested in building an exotic looking car for less. The good news about cars that were built via car kit is that they can be assigned a rebuilt title rather than a salvage title.
Cars that have been stolen are a special category of the salvage title industry. A car can end up in an auto salvage due to being stolen and found again. If a car is missing for longer than a few weeks, most insurers write the car off as "totaled" then pay for the owner to get a new car. If the car is found, it will be assigned a salvage title. This type of salvage car can be a good find if it turns out that the car was not manually tampered with during or after the theft.
For more information, speak with experts like Meyer's Tire Service Inc.