|
Salvage Title
In North America, a salvage title is a form of vehicle title branding, which notes that the vehicle has been damaged and/or deemed a total loss by an insurance company that paid a claim on it. The criteria for determining when a salvage title is issued differ considerably by each state, province or territory. In a minority of states and Canadian provinces, regulations require a salvage title for stolen or vandalized vehicles which are not recovered by police within 21 days. In such cases insurance companies declare a vehicle total loss and pay off the previous owner; but, in others, it is issued only for losses due to damage. Under some circumstances, a salvage title denotation may be removed or replaced with a ''Rebuilt Salvage'' designation; and cars imported to, or exported from, the United States may be issued a clean title regardless of history. Because a salvage title can be issued to a vehicle with easily repairable problems or no damage whatsoever, the low cost of the sal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vehicle Title Branding
Vehicle title branding is the use of a permanent designation on a vehicle's title, registration or permit documents to indicate that a vehicle has been written off due to collision, fire or flood damage or has been sold for scrap. The designation or brand is mandatory in most provinces and states in North America when an insurer or vehicle owner writes off a vehicle as a "total loss". Typically this means the cost to repair the vehicle would equal or exceed the car's value, although legal definitions vary. Objectives The title branding programs typically have two objectives: #A deterrent to auto theft: If a vehicle is a complete loss due to an accident, its serial number (VIN, Vehicle identification number) and registration documents could still be of potential value to persons dealing in stolen cars. The diminished sale value of a title branded vehicle reduces the profitability of switching the registration and VIN from an accident vehicle to that of a stolen vehicle of the sam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vehicle
A vehicle (from la, vehiculum) is a machine that transports people or cargo. Vehicles include wagons, bicycles, motor vehicles (motorcycles, cars, trucks, buses, mobility scooters for disabled people), railed vehicles (trains, trams), watercraft (ships, boats, underwater vehicles), amphibious vehicles (screw-propelled vehicles, hovercraft), aircraft (airplanes, helicopters, aerostats) and spacecraft.Halsey, William D. (Editorial Director): ''MacMillan Contemporary Dictionary'', page 1106. MacMillan Publishing, 1979. Land vehicles are classified broadly by what is used to apply steering and drive forces against the ground: wheeled, tracked, railed or skied. ISO 3833-1977 is the standard, also internationally used in legislation, for road vehicles types, terms and definitions. History * The oldest boats found by archaeological excavation are logboats, with the oldest logboat found, the Pesse canoe found in a bog in the Netherlands, being carbon dated to 8040 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Total Loss
In insurance claims, a total loss or write-off is a situation where the lost value, repair cost or salvage cost of a damaged property exceeds its insured value, and simply replacing the old property with a new equivalent is more cost-effective. Such a loss may be an "actual total loss" or a "constructive total loss". Constructive total loss considers further incidental expenses beyond repair, such as ''force majeure''. General principles In a total loss, the insurer must indemnify the assured in full, and ownership of the insured item thereby passes to the insurer under the legal process of " subrogation". Although the policy determines the level at which the loss becomes total rather than partial, nevertheless the assured (and NOT the insurer) has the final say as to whether he wishes to make a partial or total claim. If the insured item is, say, a car or a house, the policy will normally give it a "market value" which may be less than the assured had in mind; any disagre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance Claim
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Value
Market value or OMV (Open Market Valuation) is the price at which an asset would trade in a competitive auction setting. Market value is often used interchangeably with ''open market value'', ''fair value'' or ''fair market value'', although these terms have distinct definitions in different standards, and differ in some circumstances. Definition International Valuation Standards defines market value as "the estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arm’s-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently, and without compulsion". Market value is a concept distinct from market price, which is "the price at which one can transact", while market value is "the true underlying value" according to theoretical standards. The concept is most commonly invoked in inefficient markets or disequilibrium situations where prevailing market prices are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Automobile Dealers Association
The National Automobile Dealers Association (NADA) is an American trade organization representing nearly 16,500 franchised new car and truck dealerships, both domestic and foreign. Established in 1917, the organization is based in Tysons Corner, Virginia. As the automotive retail industry's primary trade association, NADA monitors federal legislation and regulation affecting dealerships and publishes forecasts and reports about industry trends. American Truck Dealers, established in 1970, is a division of NADA representing nearly 1,800 heavy- and medium-duty truck dealerships throughout the United States. Overview NADA represents nearly 16,500 new car and truck dealerships, with both domestic and international franchises in the United States. The organization serves dealers by regularly representing dealerships before Congress and other federal government agencies. NADA monitors federal legislation affecting dealership operations and vehicle sales, including taxes, trade agreemen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kelley Blue Book
Kelley Blue Book is an Irvine, California-based vehicle valuation and automotive research company that is recognized by both consumers and the automotive industry. The company is owned by the Cox Automotive subsidiary of Cox Enterprises. History The company began as the Kelley Kar Company founded by Les Kelley in 1918. Kelley started the company with three Model T Fords. His younger brother, Buster, worked with Kelley as a lot boy. By using data collected from the dealership, Kelley published the company’s first Blue Book in 1926, which became a standard guide in automotive trade in determining car value. Kelley Blue Book was formed in 1926, and the Kelley family continued its dealership business in Southern California for several decades. By the 1960s, the company moved from a car dealership to a specialty publisher and focused on the production of its automobile price guide. Kelley Blue Book guide became the first publication to use mileage to determine a car's value. In 19 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Motor Vehicle Title Information System
The National Motor Vehicle Title Information System (NMVTIS) is an electronic system that gives valuable information about a vehicle's condition and history. NMVTIS allows consumers to find vehicle information such as title data, most recent odometer reading, history of make and model, and theft records, but not maintenance or repair history or information about manufacturer recalls. It is a software tool maintained by American Association of Motor Vehicle Administrators The American Association of Motor Vehicle Administrators (AAMVA) is a non-governmental, voluntary, tax-exempt, nonprofit educational association. AAMVA is a private corporation which strives to develop model programs in motor vehicle administration, .... It uses databases from state titling agencies, car recyclers, junk and salvage yards, and insurance carriers to produce its reports. NMVTIS has the participation of at least 48 states. The purpose of NMVTIS is to help in efforts to prevent consumers from fraud, reduc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consumer Reports
Consumer Reports (CR), formerly Consumers Union (CU), is an American nonprofit consumer organization dedicated to independent product testing, investigative journalism, consumer-oriented research, public education, and consumer advocacy. Founded in 1936, CR was created to serve as a source of information that consumers could use to help assess the safety and performance of products. Since that time, CR has continued its testing and analysis of products and services, and attempted to advocate for the consumer in legislative and rule-making areas. Among the reforms in which CR played a role were the advent of seat belt laws, exposure of the dangers of cigarettes, and more recently, the enhancement of consumer finance protection and the increase of consumer access to quality health care. The organization has also expanded its reach to a suite of digital platforms. Consumer Reports Advocacy frequently supports left-wing environmental causes, including heightened regulations on auto ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Carfax (company)
CARFAX, Inc. is an American company that provides vehicle data to individuals and businesses. Its best-known product is the CARFAX Vehicle History Report. Other products include vehicle listings, car valuation, and buying and maintenance advice. History CARFAX was founded in Columbia, Missouri in 1984 by Ewin Barnett III and Robert Daniel Clark. In 1986, by working closely with the Missouri Automobile Dealers Association, the company offered an early version of the CARFAX vehicle history report to the dealer market. These reports were developed with a database of 10,000 records and distributed via fax. In December 1996, the company launched its website as part of an effort to sell its reports directly to consumers. CARFAX has undergone several ownership changes since its founding. In the fall of 1999, Carfax became a wholly owned subsidiary of R.L. Polk & Company. In 2013, IHS acquired Polk and CARFAX. In March 2016, IHS had a merger of equals of equals with Markit, becoming IH ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Used Car Market
{{disambig, geo ...
Used may refer to: Common meanings *Used good, goods of any type that have been used before or pre-owned *Used to, English auxiliary verb Places *Used, Huesca, a village in Huesca, Aragon, Spain *Used, Zaragoza, a town in Zaragoza, Aragon, Spain Music * "Used" (song), a song by Rocket from the Crypt from their 1995 album ''Scream, Dracula, Scream!'' *The Used, a rock band from Orem, Utah ** ''The Used'' (album), their 2002 debut album *"Used", a song by SZA from her 2022 album ''SOS'' See also *Use (other) Use may refer to: * Use (law), an obligation on a person to whom property has been conveyed * Use (liturgy), a special form of Roman Catholic ritual adopted for use in a particular diocese * Use–mention distinction, the distinction between using ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vehicle Law
A vehicle (from la, vehiculum) is a machine that transports people or cargo. Vehicles include wagons, bicycles, motor vehicles (motorcycles, cars, trucks, buses, mobility scooters for disabled people), railed vehicles (trains, trams), watercraft (ships, boats, underwater vehicles), amphibious vehicles (screw-propelled vehicles, hovercraft), aircraft (airplanes, helicopters, aerostats) and spacecraft.Halsey, William D. (Editorial Director): ''MacMillan Contemporary Dictionary'', page 1106. MacMillan Publishing, 1979. Land vehicles are classified broadly by what is used to apply steering and drive forces against the ground: wheeled, tracked, railed or skied. ISO 3833-1977 is the standard, also internationally used in legislation, for road vehicles types, terms and definitions. History * The oldest boats found by archaeological excavation are logboats, with the oldest logboat found, the Pesse canoe found in a bog in the Netherlands, being carbon dated to 8040 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
