Salvage title laws vary by state, but the general principle is the same: Once an insurance company determines that a car’s total damage exceeds a significant portion of its value — typically 75 to 90 percent — it labels the vehicle a total loss, and the department of motor vehicles (DMV) for the state slaps a salvage title onto the vehicle.

Most dealers don’t accept salvage cars as trade-ins, even after the salvage title has been removed. Salvage titles sometimes come with special designations for their type of damage, such as hail or flood damage. Cars can also receive a non-repairable designation, which means they’re incapable of being repaired and must instead be destroyed or sold for parts. If your wrecked car has successfully been fixed, however, and if it’s passed your DMV’s safety inspections, it can receive a new title with branding to show it’s still roadworthy.

If the car was stolen and had been missing for a month or so, the insurance company may pay off the vehicle and sell it to a salvage buyer, in which case the car may receive a salvage title. Selling a salvage car to an insurance company is one of the quickest ways to make money off it — but not the most lucrative. Typically, the insurance company’s settlement is low, so the company can profit from reselling the vehicle to the salvage buyer. As a result, you’re better off selling to the end consumer directly.

Newer salvage vehicles tend to sell better than old ones because the drivetrain components are more valuable. Many people also pay extra for niche salvage cars, such as Volkswagen Beetles or Porsches, since they may have a high repair or resale value and lots of rare parts.

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