Browsing the online used car ads, you see a car you really like at a dealership. It looks really great, has low mileage, new tires, and has already been certified. And there’s another one just like it for sale, except privately. It’s the same color, the mileage is even lower, and it even has a few extra options. There are two big differences, though: it is prices thousands of dollars less and it has a salvage title. What does that salvage title mean to you? Most importantly, there must be a reason that the car is priced so much less than the one at the dealership. There are a few things you need to know about a car with a salvage title, and it could influence your decision on which of the two cars you should buy.
What Does Salvage Title Mean?If a car has a salvage title, it clearly states that the car has been a total loss at one time in its life. There are different types of total loss that include collision damage, flood damage, hail, and theft. Every situation is unique when it comes to salvaged cars. The one common thread is that they’ve been damaged beyond what an insurance company is willing to pay for repairs. When that happens, a buyer can purchase the damaged car for pennies on the dollar. After doing the necessary repairs, a car can often return to use on the road. Its title is then branded as a salvage title.
Why Is That Important?If a vehicle has been branded as a salvage title, there are some details that you’ll quickly discover.
- It no longer carries any factory warranty, and may not be eligible for an extended warranty.
- The damage may have been repaired to passing standards, but not to the original quality from the factory.
- The damage might be masked, ready to reappear at a later date.
- There could be mismatched parts on the car, pieced together from other salvage cars or auto recyclers.