Automotive Dismantler can be defined as a person, a corporation, or a firm whose work is to remove some part of the inoperable vehicle. The firm, or the person, must be in possession of more than ten inoperable motor vehicles for at least thirty days.
Abandoned vehicle is a parked and left standing unattended vehicle. For a private property, it will be considered abandoned if the particular vehicle is left for more than twenty-four hours or thirty days or more on public property.
Actual Cash Value (ACV)
Actual cash value is the resulting value arrived at after depreciation and replacement value have been deducted from the original cost. It is commonly used by the insurance industry.
Automotive Recyclers Association
A union that represents an industry that represents the recycling of automotive parts. Also, they advocate for the safe disposal of inoperable vehicles.
The process of removing and using motor vehicle parts from vehicles. The process also involves the disposal of the parts that cannot be salvaged.
The actual dismantling of motor vehicles for spare parts.
Bill of Sale
A legal binding document addressed to the buyer by a seller; specifying the item, amount, date and the specific locality that the transaction took place.
Certified Automotive Recycler (C.A.R.)
(C.A.R) is defined as a designation awarded by ARA to recyclers of motor vehicles that meet a set of standards for general business practices, safety, and environmental issues.
Certificate of Title
A document issued by a state or municipal that identifies the owner(s) of property.
Car Salvage Value
The value realized when the car is sold at the end of its useful life. The value is commonly used to determine the depreciation and the tax deductions on the car.
Cash for Clunkers Program
This program allows old and less-fuel-efficient car owners to trade and get more fuel-efficient vehicles in return.
The process of taking a machine or given structure to pieces.
Fire Damage Title
This title shows that the vehicle has been written off as a result of a fire outbreak, resulting in the item being sold to scrap.
A technique that is used to null fluids.
Junk cars can be defined as old and used cars that have deteriorated in value. The cars are no longer in use.
Junk Car Removal
The disposal of old cars that are not used for cash. The cars normally attract a far lesser value than the original cost.
Junk yard is a designated location for the collection, storage, and the sale of old cars that have been disposed of by their owners.
LKQ stands for “Like Kind and Quality”. These are parts that are normally sold online or in other cars parts stores. The parts are installed at a car body shop or auto repair shops.
A legal document issued to show the total distance traveled by automobile.
Motor Vehicle Department
Motor vehicle department in the United States is a state level agency whose work is to administer the registration of vehicles and the issuing of licensing.
This is an element, constituent, or a component of a car. The several parts are combined to form up the whole car.
This is the rebuilding of the car parts according to the specification of the original product or parts. It can also be a general combination of reused, new, and repaired parts. Re-manufactured parts require the renewal of the obsolete components or parts.
This is a type of a vehicle branding that denotes that particular vehicle has been totally damaged or is likely to be subjected to a total loss by an insurance company. The procedure of determining a salvage title might differ considerably from every state, territory, and province.
A salvage yard is a particular location or a place where motor vehicles or other machinery are usually broken up and their parts saved, and in most cases processed for resale.
The expected estimated value of a given asset at the end of its useful life. The depreciation value and taxation are deducted to come up with the scrap value of an asset.
Damage to any component of a motor vehicle that is part of the significant structure of the car. It is also damage to any useful component of the vehicle that is designed to provide structural integrity.
A totaled vehicle is when the cost of preparing a damaged motor vehicle is higher than a set percentage value of preparing the same motor vehicle. As such, it makes little or no financial sense to spend on the repairs.
Vehicle makes simply refer to the overall manufacturer of a motor vehicle.
The particular design in which a given vehicle is made.
Vehicle Identity Number (VIN)
A unique code used by the auto industry to identify motor vehicles. VIN can also be used to identify the following: motorcycles, scooters, and mopeds among others.