Does Florida allow salvage title cars?
No, you cannot insure a car with a salvage title in Florida. Salvage vehicles are cars that have been declared a total loss, meaning they’re too damaged to be worth repairing and cannot be driven legally. As a result, no legitimate car insurance company writes policies for them.
Do you need a license to buy auction cars in Florida?
Whichever role appeals to you, there’s one thing you need to do first: get your dealer license with the Florida Department of Highway Safety and Motor Vehicles (FLHSMV). You can’t sell cars at a wholesale auction without a license.
Is buying salvage cars a good idea?
Unless you’re a skilled mechanic or you’re looking for a project car, it’s often best to avoid buying salvage title cars. Safety concerns, the potential for costly repairs, and difficulty insuring and selling your car can make the decision clear for most people.
How much is a salvage title in Florida?
How much does it cost to get a rebuilt title in Florida? In general, expect to pay at least $117.25 for your rebuilt titleābut that figure doesn’t include repair estimates and other incidental costs.
What are the disadvantages of buying a salvage car?
Cons of Buying a Salvaged Vehicle
- The damage to a salvaged car is just too expensive. Some salvage cars are more damaged than others.
- The salvage label doesn’t go away. Like a bad reputation, a salvage title is forever.
- Its resale value is low.
- You’ll have difficulty getting an auto loan.
What is salvage title in Florida?
A vehicle is considered salvaged in Florida if payment has been made to the vehicle owner by an insurance company in order to replace the damage or theft of the vehicle, or an uninsured vehicle has suffered so greatly that repairing it would cost 75-80% more than its current market value.
Can a salvage title be cleared in Florida?
Like in many other states, you can’t get a clear title on a once-salvaged car in Florida. Instead, the title will state that the vehicle was salvaged and has been repaired. Some cars that have been salvaged will require extensive repair work, and that can drive the cost up.
How can I get a car auction license in Florida?
Pre-licensing requirements
- Complete the required pre-license education: The FLHSMV requires that all vehicle auction dealer licensees in Florida take 16 hours of pre-license education.
- Get fingerprinted.
- Get a surety bond and liability insurance.
- Register your business so you can legally operate in Florida.