How to Apply for a Salvage Title in Kentucky
A Kentucky salvage title is a certificate that serves as proof of legal ownership for motorists who own salvage vehicles. The Department of Vehicle Regulation (DVR) of the state’s Transportation Cabinet (KYTC) is responsible for issuing a salvage certificate to owners of vehicles that have sustained a significant amount of damage. Among the various steps related to getting a salvage car title, drivers will be required to perform a salvage vehicle inspection.
Vehicle owners who want to obtain a car salvage title may be mandated to first satisfy a set of eligibility requirements. After satisfying such criteria, motorists will need to undergo the applicable application steps, which include providing documentation related to the damaged vehicle. To discover more information about how to get a salvage title in KY, continue reading the sections below.
What is a Kentucky salvage title?
A salvage title is issued to motor vehicles that are classified as salvage due to sustaining certain damages either in an accident or by a natural disaster. Salvage vehicles may be issued a rebuilt title if and when their owners decide to fix the damaged sustained by the cars. On the other hand, a motor vehicle may be declared as a total loss as a result of damages so severe that the costs to repair it are higher than 75 percent of the car’s current market value.
Kentucky Salvage Title Eligibility Requirements
Before beginning a Kentucky rebuilt salvage title application procedure, vehicle owners may be required to satisfy certain eligibility criteria. For instance, the vehicle must be declared as a total loss and damaged to the extent that the reparation or reconstruction cost is higher than 75 percent of the vehicle’s retail value. After a motor vehicle satisfies this requirement, the owner of the car salvage may begin the application procedure.
How to Get a Salvage Title in Kentucky
Salvage vehicle owners need to apply for a rebuilt title in Kentucky by undergoing the corresponding application procedure. As part of the process, motorists will have to satisfy certain steps that may vary based on the applicant’s specific situation. Therefore, prior to applying for a salvage certificate, vehicle owners must learn about the mandatory documents and requirements that relate to their situation. In order to obtain a rebuilt salvage title, motorists need to complete the following steps:
- Complete and notarize an Affidavit of Motor Vehicle Assembled from Wrecked or Salvage Motor Vehicles (TC 96-215).
- Provide the original salvage title.
- Provide the original registration form, if the vehicle is from out of state.
- Submit a bill of sale, if the title has been junked in the state.
- Complete and notarize an Application for Kentucky Title/Registration (TC 96-182).
- Submit original receipts and notarized statement for the purchased parts.
- Remove any existing license plates from the motor vehicle.
- Provide a lien termination statement from the lien holder, if applicable.
- Submit a statement from the insurance company describing the damage of the vehicle, when it is not damaged over 75 percent of its current value.
- Submit a Federal Odometer Disclosure Statement if the vehicle is newer than 10 model years.
After satisfying the abovementioned requirements and submitting the mandatory documentation to the KYTC, vehicle owners will be issued the appropriate rebuilt titles.
Salvage Car Inspections in Kentucky
A Kentucky salvage vehicle inspection is not a requirement when applying for a rebuilt car title. However, motorists may have to inspect their salvage vehicles before rebuilding them. In general, the KYTC has specific guidelines pertaining to which motor vehicles must be inspected at the sheriff’s office.
Thus, prior to buying a salvage title car in the state, the KYTC will require those vehicles to get a history report and inspection. To discover more information about the inspection requirement, make sure to contact a nearby KYTC branch and inquire about what you need to do in your specific situation.
Kentucky Salvage Title Fees
The ultimate step of the process of applying for a rebuilt salvage title in Kentucky requires motorists to submit payment for the applicable fees. However, it is important to note that the salvage title value may differ based on the specific situation and on the type of vehicle that is being titled.
Moreover, in addition to the imposed fees, vehicle owners may be also required to pay certain state taxes. Therefore, prior to paying any amount of money to the KYTC, drivers need to inquire more information about the prices for titling a salvage or rebuilt vehicle and about the applicable taxes.