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Defining Salvage Boats

Almost all boats sitting in Copart facilities near you have the salvage title. These are boats that have undergone damage from water, fire, accidents, or any other damage that left them inoperable. Most of the boats are repairable, but the cost of repairs might have made the insurance companies ‘total’ the boats.

Because the cost of repairs is high, Copart avails these boats for sale through their facility. These boats come to you at a very cheap price so that you will have enough left to repair the boat and still save money to own a boat. You do not have to blindly buy a boat as Copart allows buyers to inspect the boats before purchase.

This way, you can estimate the value of the boat based on the extent of the damages and the repairs the boat needs. After the inspection, you are the one to set the price of the boat during the live auction. The inspection allows you to calculate the maximum you can spend on the boat and still be within your budget.

For a boat to get the salvage title, the insurance company might have considered it a total loss with the cost of repair being more than 50 percent of the value of the boat. But damaged boats are not the only boats labeled as salvage boats. In some states, stolen and recovered boats also have the salvage title.