How Does a Salvage Title Affect Resale Value?
Has your car been in an accident? Were you planning to sell your car, truck or SUV in the Birmingham area? Has your insurance deemed your car as salvaged because of the accident? Do not let the accident put a dent in your plans. You may be asking – can I sell a used car with a salvage title? Or how does a salvage title affect resale value? We are here to answer all of your questions at The Car Depot in Birmingham, AL.
What Is a Salvage Title?
Yes – you can sell a used car, truck or SUV with a salvage title – but it is important to note that it will have a significant negative impact on the value of your vehicle. When a vehicle is in an accident and the cost of repairs is higher than the estimated value of the car, the insurance company will claim it as salvaged – which tends to mean it can be sold for parts or be rebuilt prior to a sale. Vehicles that incur a salvage title will lose 20% – 40% of their value according to Kelley Blue Book®. Damaged vehicles that arrive at The Car Depot will be appraised, estimated and valued on a vehicle-by-vehicle basis.
How To Get a Rebuilt Car Title in Alabama
In most cases – a vehicle with a salvage title is inoperable – and is illegal to drive in Alabama. This may make it difficult to sell your vehicle after an accident and you may want to consider a rebuilt car title. A vehicle will receive a rebuilt title tag when it has been repaired after an accident and is in place to notify potential buyers of the vehicle’s history. To attain a rebuilt title, a vehicle must pass Alabama state safety requirements as established by the Alabama DMV. Rebuilt vehicles may prove to be a great value for buyers and The Car Depot will pay a good price for high-quality, rebuilt cars, trucks and SUVs.
READ MORE: Do I Need My Vehicle Title to Sell My Car?
Has your vehicle been in an accident and received a salvage title? Potential car sellers want to know – how does a salvage title affect resale value? We are here to help at The Car Depot – just contact the team for information on how to sell your car fast for cash in the Birmingham area!