whats a Branded Title?
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From: Connecticut
whats a Branded Title?
Does anyone know what a branded title means?is this the same as a salvage title?Is this the same as a salvage title?I was looking at a truck this guys selling but the carfax i did says it has a branded title dealer buyback or lemon.how do i find out what one it is?
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From Carfax.com
"Manufacturer Buyback or Lemon — A DMV or a state agency marks an official document or issues a Manufacturer Buyback/Lemon title when a vehicle has been repurchased by the manufacturer. Not all states issue manufacturer buyback titles and the specific requirements for a lemon law vehicle vary by state."
This appears to be different from a salvage title...: " Salvage Title —
A Salvage Title is issued on a vehicle damaged to the extent that the cost of repairing the vehicle exceeds ~ 75% of its pre-damage value. This damage threshold may vary by state. Some states treat Junk titles the same as Salvage but the majority use this title to indicate that a vehicle is not road worthy and cannot be titled again in that state. The following eleven states also use Salvage titles to identify stolen vehicles - AZ, FL, GA, IL, MD, MN, NJ, NM, NY, OK and OR."
You should check the Lemon law in that particular state to see what reasons the vehicle would have to be bought back. Maybe if the vehicle required estimated repairs equal to $XX they have to buy it back. Hopes this helps
"Manufacturer Buyback or Lemon — A DMV or a state agency marks an official document or issues a Manufacturer Buyback/Lemon title when a vehicle has been repurchased by the manufacturer. Not all states issue manufacturer buyback titles and the specific requirements for a lemon law vehicle vary by state."
This appears to be different from a salvage title...: " Salvage Title —
A Salvage Title is issued on a vehicle damaged to the extent that the cost of repairing the vehicle exceeds ~ 75% of its pre-damage value. This damage threshold may vary by state. Some states treat Junk titles the same as Salvage but the majority use this title to indicate that a vehicle is not road worthy and cannot be titled again in that state. The following eleven states also use Salvage titles to identify stolen vehicles - AZ, FL, GA, IL, MD, MN, NJ, NM, NY, OK and OR."
You should check the Lemon law in that particular state to see what reasons the vehicle would have to be bought back. Maybe if the vehicle required estimated repairs equal to $XX they have to buy it back. Hopes this helps
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