Introduction to the Auto Salvage Industry

Many states issue salvage vehicle titles for damaged or stolen cars that are classified as total losses. A vehicle is considered a total loss if repair or replacement costs exceed 70% of its market value, and the insurance claim has been settled. The specific rules for issuing salvage titles vary by state.

In some states, a salvage title is granted if stolen or vandalized vehicles are not recovered within 21 days. Michigan issues a salvage title when the damage reaches 75% to 90% of the vehicle’s value.

A vehicle with more than 91% damage receives a scrap title and cannot be repaired or restored. In Oregon, a salvage title is issued if the vehicle is a total loss with 70% damage, abandoned, or stolen with a value under $500. The insurer’s calculation of loss differs slightly from general notions. Buyers should conduct thorough research to understand the vehicle’s title details fully. Ensuring the title is properly transferred to their name is essential, often requiring a sales receipt and VIN documentation in most states.

RepairableVehicle, part of Interstate Auto Center Inc., has been selling repairable vehicles since 1989. They emphasize transparency and maintain close ties with insurers, salvage auctioneers, and dealers. Their extensive resources allow daily updated, accurate vehicle info. With a footprint across America, buyers can subscribe to automated inventory alerts for special vehicles or place bids at auctions.

RideSafely, operated by Auto Auctions Remarketing Services, specializes in damaged vehicle sales. With experience in Copart, IAA auctions, used car and motorcycle sales, and insurance salvage auctions, the company offers worldwide services. They provide a vast inventory of rebuildable cars, motorcycles, SUVs, and trucks, with options for buyers to acquire vehicles through various auction channels or purchasing services.

Many salvage yards store auction-purchased vehicles, with some operating repair shops to recondition and resell. Others serve as parts suppliers, allowing buyers to remove needed components. All maintain regularly updated inventories to meet demand.