If you’re considering buying a recovered stolen car, you may have some eerie feelings. You’re probably not sure where the car has been, why it was stolen or if it’s now damaged. Nevertheless, buying a previously-stolen car can be a great investment. They are usually priced inexpensively and many can be found in good condition.
What is a recovered theft car ?
Any vehicle that has been stolen from its owner and then found is a recovered theft car . Many stolen cars are often involved in accidents, stripped for parts or sold in other countries. Other times, stolen cars are found in mint condition. Some states will title these cars as “salvage cars.”
There are currently over 700,000 stolen vehicles in the U.S. that have not yet been recovered, according to NICB . According to the FBI, a vehicle is stolen every 44 seconds in the U.S. A survey conducted by the National Insurance Crime Bureau and LoJack found that 21 percent of American drivers don’t always lock their vehicles.
Are salvage-titled cars bad?
In the case of a theft recovered car that has a salvage title, it is often a great decision to purchase such a vehicle. When a car is missing for three weeks (or 30 days in some cases), the owner’s insurance company will pay off the cost of the vehicle. The car is then titled a “total loss.” When it is found and recovered, it’s then titled a “salvage” vehicle. This leaves some salvage vehicles without any damage at all.