Salvage vehicle means any vehicle which is within the last ten (10) model years and which has been damaged by collision or other occurrence to the extent that the cost of repairing the vehicle for safe operation on the highway exceeds sixty percent (60%) of its fair market value, as defined by Section 1111 of this title, immediately prior to the damage. For purposes of this section, actual repair costs shall only include labor and parts for actual damage to the suspension, motor, transmission, frame or unibody and designated structural components;
Salvage vehicle means any vehicle:
Salvage vehicle means any vehicle which is within the last
Examples of Salvage vehicle in a sentence
Salvage vehicle sales companies typically operate from one or more salvage facilities where vehicles are processed, viewed, stored and sold.
Salvage vehicle" means a vehicle that, by reason of its condition or circumstance, is declared a total loss by an insurer or owner or is transferred to a recycler or salvage dealer, or a vehicle for which a certificate of salvage has been issued.[PL 1995, c.
More Definitions of Salvage vehicle
Salvage vehicle means a vehicle, other than a nonrepairable
Salvage vehicle means a vehicle:
Salvage vehicle means any vehicle [*] provided that such vehicle [*] For purposes of the Net Receivables Pool Balance calculation, the value of Receivables that are originated for the purpose of financing Salvage Vehicles is limited to [*]
Salvage vehicle means a vehicle damaged by collision, fire, flood, accident, trespass, or other occurrence to the extent that the owner, an insurer, or other person acting on behalf of the owner determines that the cost of parts and labor makes it uneconomical to repair the vehicle.
Salvage vehicle means (i) any late model vehicle that has been (a) acquired by an insurance 966 company as a part of the claims process other than a stolen vehicle or (b) damaged as a result of 967 collision, fire, flood, accident, trespass, or any other occurrence to such an extent that its estimated cost 968 of repair, excluding charges for towing, storage, and temporary replacement/rental vehicle or payment 969 for diminished value compensation, would exceed its actual cash value less its current salvage value; (ii) 970 any recovered stolen vehicle acquired by an insurance company as a part of the claims process, whose 971 estimated cost of repair exceeds 75 percent of its actual cash value; or (iii) any other vehicle that is 972 determined to be a salvage vehicle by its owner or an insurance company by applying for a salvage 973 certificate for the vehicle, provided that such vehicle is not a nonrepairable vehicle.
Salvage vehicle means any vehicles provided that such vehicle [**]. For purposes of the Net Receivables Pool Balance calculation, the value of Receivables that are originated for the purpose of financing Salvage Vehicles is limited to [**];
Salvage vehicle means any vehicle which is damaged by collision, fire, flood, accident, trespass, or other occurrence to the extent that the cost of repairing the vehicle for legal operation on the highway exceeds its fair market value immediately prior to damage.