Some of the states that I am familiar with list it as salvage if it has
damage beyond the value of the car. Some states list as salvage any car that
has been used by law enforcement or as a taxi.
Please note that some state offer a "bonded title". If the title is
unobtainable....for example lost or former owner refuses to turn it over, the
buyer can purchase a bond and the state will issue a bonded title. The bond
is to insure that if someone makes a claim on the car, the insurance
company will pay off. Most major insurance companies offer this....purchased
one
once from State Farm. The cost was about 5% of the value of the car.
M
In a message dated 7/21/2011 10:05:49 P.M. Eastern Daylight Time,
michael.s.king@gmail.com writes:
Might be ok in some sites in USA, would make it VERY hard to export a
car without a title. I know you would struggle to bring it down under
as anything other than a "parts car"... and seems so many Tigers have
made their way down under in the last couple of years.
All this said,, does anyone know why the car became a "salvage title"?
Was the car written off by an insurance company some time back? How
seriously was it damaged?
I guess when the cars were cheaper the likelyhood of repair costs vs
value for an insurance co would have made them likely to write off a
lightly damaged car that now we would consider a straight forward
resto.
--
Regards
Michael King
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