In this blog, we’ll explain what salvage titles are, talk about the rules and regulations surrounding them and other challenges that you might face as you try to sell your salvage title car in Ohio.
What Is a Salvage Title?
A salvage title is issued to a vehicle that has been damaged to the point where the cost of repairs exceeds a certain percentage of the car’s value, often around 75-90%. This damage could be due to an accident, flood, theft recovery, or other incidents. Essentially, a salvage title indicates that the car has been deemed a total loss by an insurance company.
In Ohio, as in other states, once a car receives a salvage title, it must go through a rigorous inspection process before it can be deemed roadworthy again. If the vehicle passes the inspection, it may receive a rebuilt title, allowing it to be legally driven and sold.
What’s The Difference Between a Rebuilt Title and a Clean Title?
A clean title indicates that a vehicle has never experienced severe damage from an accident, flood, or other major incidents that would significantly affect its value or safety. Vehicles with clean titles are generally easier to finance, insure, and sell. They tend to hold higher resale value.
On the other hand, a rebuilt title is issued to a vehicle that was previously declared a total loss and given a salvage title due to severe damage, but has since been repaired and passed a state inspection. To get a rebuilt title in Ohio, the owner must provide proof of repairs to the Ohio State Highway Patrol.
It’s good to note, however, that while a car with a rebuilt title can be legally driven and sold, it typically still has a lower resale value compared to a vehicle with a clean title.
Can You Sell a Car With a Salvage Title in Ohio?
Yes, you can sell a car with a salvage title in Ohio, but there are specific regulations you need to follow. Most importantly, you must disclose to the buyer that it is a salvage title to avoid legal issues and potential disputes.
If you want to sell a car with a rebuilt title in Ohio, the state still requires that you mention the title status to potential buyers, which can lower the amount you’re offered for the vehicle.
For this reason, some people might find it better to sell their salvage title car “as-is” for less, rather than investing time and money into getting a rebuilt title for a payoff that might not justify the effort.
See How Much You Can Get For Your Salvage Title Car in Ohio
Whether you’re looking to sell your car as-is or considering your options, getting an offer is the first step. Why wait? See how much your salvage title car is worth today! Just fill out Ken Ganley’s online form, and you’ll receive an initial offer. This fast and simple process just takes a few minutes, with no hassles or waiting around. See how much you can get for your salvage title car today.