What are Salvage Vehicles?
In the United States a vehicle is branded as “salvage” when is destroyed or receives damage of 75% or more of the retail value of the vehicle at the time the damage occurred. This rule can vary since some states will declare salvage a vehicle when the damage is as low as 60% or as high as 85%. A vehicle can be branded as salvage after an accident, because of storm damage (flood or hail), vandalism, fire or theft. The insurance companies assess the damage and conclude whether or not it is cheaper for them to pay to have the car repaired or to simply sell it damaged “As-Is”. The insurance companies are interested in recouping as much of the settlement as they can as quickly as possible, therefore these vehicles are sold by Insurance Auctions to licensed auto dealers and scrap dealers at very discounted prices. In this website anyone without a auto dealers license or a scrap dealers license can buy these vehicles and take advantage of these discounted prices.
