This article offers a thorough overview of the vehicle salvage industry, covering salvage title criteria, key players, and purchasing options. It highlights regulations across states, the roles of salvage yards, and how buyers can navigate salvage vehicle purchases. The piece also emphasizes transparency and the importance of understanding vehicle title details for safe transactions. Essential for buyers, sellers, and industry professionals, it provides a clear understanding of the salvage market landscape and opportunities within it.

Understanding the Vehicle Salvage Industry

Several states issue salvage titles for cars that have sustained significant damage or were stolen, qualifying as total losses. A vehicle is deemed a total loss if repair or replacement costs surpass 70% of its market value, provided the insurance claim is settled. Regulations for issuing salvage titles differ by state.

In certain regions, a salvage title is assigned if stolen or vandalized vehicles are not recovered within 21 days. Michigan issues salvage titles when damage reaches between 75% and 90% of the vehicle's worth.

Vehicles with damage exceeding 91% receive a salvage or scrap title, rendering them non-repairable. Oregon issues a salvage title for total loss vehicles with 70% damage, abandoned cars, or stolen vehicles valued under $500. Insurance companies’ loss assessments can vary, so buyers should thoroughly review vehicle titles. Proper transfer of ownership often requires a sales receipt and VIN documentation, depending on state regulations.

Repairable Vehicle, part of Interstate Auto Center Inc., has specialized in selling repairable vehicles since 1989. They prioritize transparency and maintain strong relationships with insurers, salvage auctioneers, and dealers. Their comprehensive resources enable daily updates of accurate vehicle information. Customers across the U.S. can subscribe to automated alerts for specific inventory or participate in auctions.

RideSafely, operated by Auto Auctions Remarketing Services, focuses on damaged vehicle sales. With experience in Copart, IAA auctions, used vehicle sales, and insurance salvage auctions, they serve a global customer base. Their inventory includes rebuildable cars, motorcycles, SUVs, and trucks, available through various auction channels or direct purchasing options.

Many salvage yards stock vehicles acquired at auction, with some operating repair shops for refurbishment and resale. Others function as parts suppliers, providing components for repair or resale. All maintain regularly updated inventories to meet diverse customer needs.