Salvage title.....
Postmaster
Joined: Jan 2009
Posts: 4,584
Likes: 3
From: Chesapeake, Va.
Well its good to know that you knew about the title.
You may very well know that TN. has a triple indemity law on undesclosed titleing on cars and trucks. The buyer can get 3 times his money back if not disclosed.
So you must disclose the salvage title when you dispose of the vehicle.
You may very well know that TN. has a triple indemity law on undesclosed titleing on cars and trucks. The buyer can get 3 times his money back if not disclosed.
So you must disclose the salvage title when you dispose of the vehicle.
WOW! That is a serious penalty.
Postmaster
Joined: Jan 2009
Posts: 4,584
Likes: 3
From: Chesapeake, Va.
I think you might try to title it in Tn. and then transfer it in Indiana to save the hassle. A salvage vehicle's title should say so on the title. The law may have been written primarily for dealers that will hold the title and then send it to the finance company for loan collateral and the buyer never sees the title until the loan is paid off. Then they get a big surprize.
Cargo Master
Joined: Nov 2008
Posts: 2,332
Likes: 2
From: Summit, MS
Not true. If a stolen vehicle is not recovered in a set amount of time the insurance company will mark the title salvaged so they can pay out to the insured. If the vehicle is found later it will then have a salvaged title.
Freshman User
Joined: Aug 2006
Posts: 28
Likes: 0
You can not do anything with it in florida. will have to go tru 1000 hoops to get a rebuild title before you can title it. Once acquired a jeep with salvage title to after driving it for 3 years, dmv told me no more licence tags. End up the jeep spend 2 years in bottom of Ockeechobee cannal.
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