“Salvage vehicle” means a motor vehicle that at any time has been declared a total loss vehicle, flood-damaged vehicle, non-repairable vehicle or had “salvage” or a similar word or designation placed on any title issued for the vehicle.
- Total Loss – A vehicle that has been damaged to the extent that the estimated cost of repair, not including the cost associated with painting any part of the vehicle, would exceed 65 percent of the fair market value of the vehicle immediately before the damage was incurred. Vehicles with less than 65 percent damage are not considered salvage vehicles.
- Flood Damaged – A vehicle that has been submerged in water to a point that the level of the water is higher than the door sill of the vehicle and the water has entered the passenger, trunk or engine compartment of the vehicle and has come into contact with the electrical system of the vehicle; or a vehicle that is part of a total loss settlement resulting from water damage.
- Non-Repairable – A vehicle, other than an abandoned vehicle, that has value only as a source of parts and scrap metal, or has been designated by its owner for dismantling, or has been stripped of all body panels, doors, lights, etc., or has been burned or destroyed beyond a restorable condition.