how do you get salvage title ?
12-09-2004, 08:41 PM
#1
Registered User
Thread Starter
Join Date: Jul 2003
Location: Rowland Heights 626
Posts: 6,912
Likes: 0
Received 0 Likes
on
0 Posts
how do you get salvage title ?
i recently got involved in an accidents
my car fell off the cliff....anyway insurance sent me some paper to fill it out
and i think my car will be salvage title
but my car runs perfect and all
there is no mechanical problems just scratches all over the car and damage in the front (minor) radiator is still working condition...
will i get salvage title???
my car fell off the cliff....anyway insurance sent me some paper to fill it out
and i think my car will be salvage title
but my car runs perfect and all
there is no mechanical problems just scratches all over the car and damage in the front (minor) radiator is still working condition...
will i get salvage title???
12-09-2004, 08:54 PM
#3
Registered User
Thread Starter
Join Date: Jul 2003
Location: Rowland Heights 626
Posts: 6,912
Likes: 0
Received 0 Likes
on
0 Posts
i still owe money on the car .....
but i heard only reason the title becomes salvage is when ur engine wouldnt start after the accidents
but i heard only reason the title becomes salvage is when ur engine wouldnt start after the accidents
12-09-2004, 09:14 PM
#4
Registered User
Join Date: Jan 2004
Location: limerick
Posts: 4,938
Likes: 0
Received 0 Likes
on
0 Posts
Dude that's just plain stupid, hit whoever said that over the freaking head.
Say My battery cable cam loose from the collision and the engine wouldn't start would that make it totaled?
Also we're not talking about totaled more $$ to fix then blue book value
We're talking it was decimated to the point of being unrecognizable and then put back together. Sometimes that means that it was determined to be of such unsafe condition as to require a specific amount of repair that is excessive. These rules are state dependant and honestly I couldn't tell you one bit about them.
Do you have the title?
In some states you would have the title in others you don't. Either way unless the title ownership actually changes hands (in most states) they can't make it a salvage title.
If I didn't live in communist PA but MD I would have my title and it would say that the car had a lein on it.
I could then precede to run it into many telephone poles blow it up burn it to the ground and so long as I kept ownership of the car it would not have a salvage title issued.
Now if you car becomes property of the junk yard then a salvage title might or might not be issued by the state.
It varies upon the state and the condition of the car and the junk yard.
Say My battery cable cam loose from the collision and the engine wouldn't start would that make it totaled?
Also we're not talking about totaled more $$ to fix then blue book value
We're talking it was decimated to the point of being unrecognizable and then put back together. Sometimes that means that it was determined to be of such unsafe condition as to require a specific amount of repair that is excessive. These rules are state dependant and honestly I couldn't tell you one bit about them.
Do you have the title?
In some states you would have the title in others you don't. Either way unless the title ownership actually changes hands (in most states) they can't make it a salvage title.
If I didn't live in communist PA but MD I would have my title and it would say that the car had a lein on it.
I could then precede to run it into many telephone poles blow it up burn it to the ground and so long as I kept ownership of the car it would not have a salvage title issued.
Now if you car becomes property of the junk yard then a salvage title might or might not be issued by the state.
It varies upon the state and the condition of the car and the junk yard.
12-09-2004, 09:18 PM
#5
Registered User
Thread Starter
Join Date: Jul 2003
Location: Rowland Heights 626
Posts: 6,912
Likes: 0
Received 0 Likes
on
0 Posts
ok so the amount of money to repair the damage shouldnt matter right????
it is just the condition of the car that matters right??
cuz my car runs fine but it is just that all the panels in my car needs to be repainted cuz minor scratches (no dent) and soft top got slashed all my rims are damaged
that is what making the repair cost go up really high u know...
it is just the condition of the car that matters right??
cuz my car runs fine but it is just that all the panels in my car needs to be repainted cuz minor scratches (no dent) and soft top got slashed all my rims are damaged
that is what making the repair cost go up really high u know...
12-09-2004, 09:25 PM
#6
Registered User
Join Date: Jan 2004
Location: limerick
Posts: 4,938
Likes: 0
Received 0 Likes
on
0 Posts
Sounds like your car is totaled
You need to talk to your insurance company and ask them how much to buy back your car from them. When they tell you how much offer them a little less and have them take that difference from the check they are going to issue to you or actually your lender. You'll need to talk to your lender and find out how they want to handle it. They might want all the money from the insurance to go towards your payments because now the car is going to be worth less they might let you keep some of it to fix things that are 100% nessaccary to keep it on the road (rims/ slashed top) they might not care at all and let you keep the whole check to fix the car. i would inform them that you intend to fix the car and keep the whole check make the repairs you want then put the remainder against the loan. Good luck, it sounds like you're not in as bad of shape as you think you are.
You need to talk to your insurance company and ask them how much to buy back your car from them. When they tell you how much offer them a little less and have them take that difference from the check they are going to issue to you or actually your lender. You'll need to talk to your lender and find out how they want to handle it. They might want all the money from the insurance to go towards your payments because now the car is going to be worth less they might let you keep some of it to fix things that are 100% nessaccary to keep it on the road (rims/ slashed top) they might not care at all and let you keep the whole check to fix the car. i would inform them that you intend to fix the car and keep the whole check make the repairs you want then put the remainder against the loan. Good luck, it sounds like you're not in as bad of shape as you think you are.
12-09-2004, 09:27 PM
#7
Registered User
Join Date: Jan 2004
Location: limerick
Posts: 4,938
Likes: 0
Received 0 Likes
on
0 Posts
Oh $hit I didn't think of something. If you have gap insurance and you owe MUCH more than the car is worth just let the car be totaled and buy it back at the auction. That way you get the most $out of you money
Trending Topics
12-09-2004, 10:29 PM
#8
Registered User
Join Date: Aug 2004
Location: Eastern Shore of Maryland
Posts: 74
Likes: 0
Received 0 Likes
on
0 Posts
A salvage title is issue when the damage on a vehivle is greater then fair market value in MD. Salvage Certificates are only issued to dismantelers or insurance companies. It does not matter if you still have your title or not. If your car is deemed a total loss by your insurance company, and you are going to buy it back it will be reported to the Motor Vehivle, and in MD you are required to have the vehicle re-inspected by an authorized state inspector.
12-10-2004, 08:07 AM
#10
Registered User
Join Date: Oct 2000
Location: Bay Area
Posts: 3,827
Likes: 0
Received 0 Likes
on
0 Posts
A lot of good information and discussion, however, it seems the answers are much more complex than necessary. So I'll try to explain it as simply as possible.
Let's say your car suffered some damage (doesn't matter if it is accident, flood, or whatever). If you don't report it to your insurance company, nothing changes. It does not matter if you still owe money on it or not. The title remains unchanged. However, you may get in trouble with some insurance companies by not reporting damages to your car if the insurance company eventually finds out about the damages -- but that is a different issue.
Now, let's say after the damage, you file a claim with your insurance company. Your insurance company will assess the extent of the damage and compare it to the value of the car. If your insurance company decides the cost to repair the damage is greater than the value of the car, they will declare the car as "totaled". At that point, your insurance company pays you for the value of the car, and now they own the title to the car. You have just sold the car to your insurance company. Obviously if you still owe money on the car, you have to pay off the lender (and what you owe may be more then the value of the car). After that, you can then negotiate with your insurance company to buy the car back, and if they agree, the car will be sold back to you with a "salvage" title. It's that simple.
Let's say your car suffered some damage (doesn't matter if it is accident, flood, or whatever). If you don't report it to your insurance company, nothing changes. It does not matter if you still owe money on it or not. The title remains unchanged. However, you may get in trouble with some insurance companies by not reporting damages to your car if the insurance company eventually finds out about the damages -- but that is a different issue.
Now, let's say after the damage, you file a claim with your insurance company. Your insurance company will assess the extent of the damage and compare it to the value of the car. If your insurance company decides the cost to repair the damage is greater than the value of the car, they will declare the car as "totaled". At that point, your insurance company pays you for the value of the car, and now they own the title to the car. You have just sold the car to your insurance company. Obviously if you still owe money on the car, you have to pay off the lender (and what you owe may be more then the value of the car). After that, you can then negotiate with your insurance company to buy the car back, and if they agree, the car will be sold back to you with a "salvage" title. It's that simple.