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The Water Cooler
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Rebuilt automobile title
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<blockquote data-quote="FullAuto" data-source="post: 2507186" data-attributes="member: 5110"><p>In this state, if the Safe Operation Estimate (SOE) is 60% of the Actual Cash Value (ACV), it must have a rebuilt title. If the SOE is 80% of the ACV, it requires a junk title and can never be put back on the road. If the SOE is <60% ACV, it can be sold as a clean title. The SOE is NOT the total amount of damage. There are specific items that go on the SOE only. Suspension parts will be on the SOE.</p><p></p><p>Just because a car is totaled, doesn't mean it will be run through the salvage (insurance) auction with a branded title. If it doesn't require a rebuilt title, it can be sold as a clean title car. It will bring more value to the rebuilders since they will resell it repaired with a clean title. For example, cars totaled from hail damaged almost always qualify for a clean title. Some (few) insurance companies will brand the titles anyway if they don't have to because they don't want to insure it in the future. </p><p></p><p>A majority of the damage in a collision doesn't go on the SOE. So if it's a $10k car, it had at least $6k in specific damaged, most likely suspension, mechanical or structural. Things like fenders, bumpers, hoods and even doors don't go on the SOE. Basically, I call BS on "minor" damage. </p><p></p><p>BTW, I write these estimates for a living.</p></blockquote><p></p>
[QUOTE="FullAuto, post: 2507186, member: 5110"] In this state, if the Safe Operation Estimate (SOE) is 60% of the Actual Cash Value (ACV), it must have a rebuilt title. If the SOE is 80% of the ACV, it requires a junk title and can never be put back on the road. If the SOE is <60% ACV, it can be sold as a clean title. The SOE is NOT the total amount of damage. There are specific items that go on the SOE only. Suspension parts will be on the SOE. Just because a car is totaled, doesn't mean it will be run through the salvage (insurance) auction with a branded title. If it doesn't require a rebuilt title, it can be sold as a clean title car. It will bring more value to the rebuilders since they will resell it repaired with a clean title. For example, cars totaled from hail damaged almost always qualify for a clean title. Some (few) insurance companies will brand the titles anyway if they don't have to because they don't want to insure it in the future. A majority of the damage in a collision doesn't go on the SOE. So if it's a $10k car, it had at least $6k in specific damaged, most likely suspension, mechanical or structural. Things like fenders, bumpers, hoods and even doors don't go on the SOE. Basically, I call BS on "minor" damage. BTW, I write these estimates for a living. [/QUOTE]
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