Q.
What is a branded title? |
| A.
A vehicle that has been considered a total loss by an an insurance
company is issued a new title that indicates "salvage"
and the type of loss (ie, water, theft, collision, comprehensive,
etc...) |
| Q.
What is a rebuilt title? |
| A.
When a branded or "salvage" titled vehicle has been
repaired it is issued a rebuilt title. |
| Q.
Can a branded / salvage titled vehicle be fixed and inspected
for the road? |
| A.
Yes. Its a fairly simple process paper work-wise in Maine.
but other states may have different requirements. |
| Q.
Do some vehicles have to have every bit of damage repaired? |
| A.
Not necessarily. Cosmetic or damage that does not interfere
with the safety inspection (ie. interior, vandalism, hail,
dents, keying, etc...) may not have to be repaired and a lot
of recovered theft vehicles have no damage, just missing parts. |
| Q.
Have all branded salvage titled vehicles been in collisions? |
| A.
No, there are many other types of losses that would cause
an insurance company to issue a salvage title such as theft,
water, vandalism, and so on. |
| Q.
The vehicle I'm looking at seems like it has such a small
amount of damage. Why wouldn't an insurance company pay for
it to be fixed? |
| A.
The biggest factors would be age, mileage of a vehicle and
its appropriate "retail" value. Then one could figure
insurance company labor rates, towing charges, etc. and the
universal rule that it costs just as much to fix a 10 year
old car as it does a one year old car. |
