What Does Rebuilt Title Mean?
What does rebuilt title mean? For a car, a motorcycle or any other type of vehicle - first and most important, that the value of the vehicle is notably decreased because once it was written off by the insurance company as total loss and now is back on the road. However, the indication Rebuilt (as well as Revived of Reconstructed - depending on the state) means that the vehicle was restored to meet the requirements according to the state law and now can be legally used on public roads.
The vehicle has been damaged so severely that the cost of repairs exceeded about 75% of it’s market value before the damage. Be careful and check out what exactly happened to the car and why it was written off. There are great several-year-old buys that receive only cosmetic damage and still get salvaged because their value was already significantly deprecated before the damage due to age.
Selling the vehicle will range from not so easy to next to impossible. As you are now wondering what does rebuilt title mean, so will you buyer (if a private buyer). The dealers will buy such a vehicle unwillingly or give your the price much lower than you expect. Selling a rebuilt car as a trade-in will be next to impossible. The car may be running well and serve you flawlessly, but don’t count on its selling value. To avoid disappointment, be ready just to part with the money to paid for it and not get any of it back when you want to change the car.
As as as insurance is concerned, you won’t have problems with liability coverage, but getting full coverage with a rebuilt car title will be pretty difficult. Check the major insurance companies like GEICO, StateFarm of Progressive - these have been known to work with problem vehicles. As to financing, in most cases the only way to finance a rebuilt title is get an unsecured personal loan.
What does rebuilt title mean in Florida?
Florida vehicles are reasonably a subject of particular concern for used car shoppers - the state is notorious for foods and hurricanes and, consequentially, for supplying used car market with water damaged vehicles, one of the worst types of vehicles. In this state, not just salvage but previously junk or assembled from parts vehicles can be titled. More about FL rebuilt title…
What does rebuilt title mean in Michigan?
In Michigan, a Rebuilt Salvage title means that a vehicle has been totaled by the insurance company, then repaired and passed an inspection by a certified salvage inspector, who verifies that the parts used in repairs were legally obtained and do not belong to stolen vehicles, and also that it complies with the state’s safety requirements and all Michigan Vehicle Code equipment.
What does rebuilt title mean in Indiana?
In Indiana, a rebuilt title means that a vehicle received a substantial damage when estimated repair cost exceeded 70% of the fair market value or the damage was caused by a flood, and later was repaired, inspected by the police officer for stolen parts used in repair and recognized operable and roadworthy. Rebuilt title vehicles in Indiana can be previously flood damage or have not actual miles. However, both must be indicated in the title. Rebuilt title disclosure is mandatory for the seller.
What does rebuilt title mean in Texas?
A Texas rebuilt title means that a car or any other vehicles was built primarily from parts that are not factory originals. As a rule, these are the vehicles that once received such an extensive damage that the cost of repair exceeded the value of the vehicle. However, TX law states very clearly that the vehicles that were junked, deemed non-repairable or designated for parts or dismantling only, cannot receive a Rebuilt title. More about TX rebuilt title….
What does rebuilt title mean in Ohio?
In Ohio, a rebuilt title means that a vehicle has been destroyed, dismantled, or changed in such a way that it lost its character as a motor vehicle, or has been altered in a manner that it was not the same vehicle as described in the title, and, as a result, got a salvage title, but later was reconstructed, inspected by the Ohio State Highway Patrol and recognized roadworthy. Such vehicles receive Rebuilt Salvage title. Unlike in Michigan, in Ohio, the only purpose of the mandatory inspection run by Highway Patrol or local DMV is to verify that the parts used in repairs are not stolen and were obtained legally. This means that these inspections do not guarantee the safety of the rebuilt title car or the quality of repair!
Don't run rusks. Run VIN check - discover what you weren't told about that rebuilt vehicle!