Salvage-titled cars are a hot-button issue in today's used car market. Whereas most cars that are issued a salvage title are simply the result of insurance company bean-counter paranoia, there are a few legitimate concerns to consider when deciding whether or not to purchase one.
Salvage Car Definition
Salvage cars are those which have been totaled by an insurance company after an accident. A car is usually considered "totaled" if the insurance company determines that the cost to repair it exceeds 75% of the vehicle's value before it was damaged.
Damages
One of the things that will immediately qualify a car as "totaled" is if it sustains major chassis damage that cannot be completely repaired.
Drivetrain Damage
Since a vehicle only must be brought up to government specs on safety and emissions to be put back on the road, damage to the transmission or rear end is a genuine concern on salvaged cars.
Weld Failures
Though a vehicle must be certified as safe when it's returned to the road, it is impossible to detect microscopic stress fractures in the frame welds that may have resulted from a collision.
Insuring
Many insurance companies will only offer liability insurance on salvage-titled cars, denying any request for full physical coverage.
Purchasing
If you see that a car's title says "salvaged," request a vehicle history report from a company like CarFax to check the extent of the damage.
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