Many people have questions regarding rebuilt titles. Simply put, a rebuilt title is a vehicle that once had a salvage title. This means that the car has been serviced to a standard that is considered road worthy. Sometimes, the car may have been serviced due to natural disasters, such as a flood, hurricane, and tornado, and so on. Motor insurance businesses will usually assess these natural disasters as circumstances for a rebuilt title.
What is a Title?
When you purchase a car, you will be given a title for ownership of the vehicle. This title is crucial; you should keep it safe, because within the title are specifications of the car, such as the vehicle identification number (VIN), car model, license plate number, the year it was made and so on. It even shows the gross car weight.
When you buy a car, you should receive a clean title. However, if you are purchasing an old car, you may be purchasing a rebuilt or salvaged car title with it. It will be important to know your car’s driving history to know the reason for the titles given.
What is a Salvage Title?
If cars have sustained substantial damage, it receives a salvage title. As the name suggests, it cannot be salvaged anymore, and this car would be described as a total loss. In some states, stolen cars can also receive a salvage title, so it’s highly dependent on your local state jurisdiction. A car with a salvage title cannot be registered or driven on the road, as it will likely pose a danger to others. Cars can also receive a salvage title if it’s damaged in a crash or natural disaster. Salvage title cars are usually sold and scrapped, instead of being repaired as the repair work would likely cost more than the car’s value.
It’s important to note that salvage titles are different from junk titles. While salvage title cars have sustained heavy damage, it differs from a junk title as these cars are usually beyond repair. Cars with junk titles are usually sold for parts, or scrapped and sold as scrap metal.
Which brings us to the definition of a rebuild title. A rebuilt title is a salvage title vehicle that has been repaired. These cars usually undergo stringent inspection to ensure they’re still road worthy.
Should You Buy a Car with a Rebuilt Title?
Rebuilt title cars are usually cheaper than new cars as they are older, and have undergone repair work. As long as you’re not using it to drive excessively, or off-road, rebuilt title cars can do the trick. However, the issue with rebuilt titles is that they are usually more challenging to sell. Many car dealers may not accept rebuilt or salvage car titles for a trade in. Also, they usually fetch a lower price compared to a clean title car.
Rebuilt Title and Insurance Purposes
For rebuilt title cars, motor insurance companies may not want to extend coverage. If they do, the vehicle must be subject to other checks.
Sell Your Rebuilt Title Car at Fast Cash 4 My Car
At Fast Cash 4 My Car, we explain what rebuilt title cars are and what you can do with them. Contact us to learn how you can sell your rebuild title car for some cash!