In Vermont, a salvage vehicle is any vehicle that has been destroyed or damaged to the point that the insurance company declares it to be a total loss. This means that the cost of the repairs would be greater that the fair market value of the vehicle.
If the vehicle is 15 years old or less, it will need to have a salvage title. The insurance company or the owner can apply for the salvage title using the Form TA-VT-17, Rebuilt/Salvage Title Application.
Applying for a Rebuilt Title
Those who want to receive a new rebuilt title for their vehicle will have to fill out the Rebuilt/Salvage Title Application, which is the same as the one you would use to apply for the salvage title, with the Vermont Department of Motor Vehicles. It currently has a title fee of $33, and $70 for registration.
The form requires the applicant’s name, address, and phone number, as well as the name of the co-owners if applicable. If there are co-owners, you will also have to fill out your relationship to them. It requires the make, model, year, body style, and VIN, as well as odometer reading and other vehicle information.
You also need to include the damage and list all of the damaged components, as well as the reason for the damage, and how you will use the vehicle. Since you are rebuilding it, you will check the box for “rebuilt for use on public roads”.
After repairing the vehicle, completing the application, and passing inspections for the parts and for the vehicle’s safety, it is possible to get the vehicle back on the road with a rebuilt title, provided that you get insurance coverage.
When you have the new title, you will be able to register the vehicle.