What are salvaged or rebuilt titles, and their significance?
When an insurance company settles a motor vehicle loss, for collision, storm (wind, water or hail), or theft, DMV reissues a salvage title. When the vehicle is registered, DMV will subsequently reissue a rebuilt title. The primary purpose of this is to disclose salvage history to future buyers. It in no way reflects the extent of damage to the vehicle. Theft recoveries with no damage at all will have a salvaged or rebuilt title. Collision totals are determined by two mathematical formulas. Retail cost of repairs vs. actual cash value, with no consideration to reparability or severity of damage. When the cost of repairs exceeds 60% of the book value, insurance companies generally consider this as a constructive total. Many of these cars are not severely damaged. One example encountered here was a late model Toyota Corolla with a value of $10, 000. There was no structural damage, but it had been side swiped, resulting in sheet metal damage. There was no broken glass, all of the doors ope
