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Should I Buy Stolen And Recovered Cars?
There Are Lots Of Stolen and Recovered Cars In the US In the United States, over 700,000 cars are stolen each year. The authorities recover an average of 46% of those vehicles. That percentage varies by state: while Alabama has only a 28% percent recovery rate, Washington State had 71% and Utah, 63%. As a general rule, agencies must classify as Motor Vehicle Theft all cases where automobiles are taken by persons not having lawful access ”even though the vehicles are later abandoned”. When a vehicle is stolen, the insurance company is (usually) alerted along with the authorities. If the car is not recovered by the next 3 weeks to a month, the insurance company will consider the vehicle as a write-off and the pay the value of the car to the insured. If the car appears after that period, the insurance company will take possession and issue a salvage title for the car. At that point, the car is considered a "stolen and recovered" vehicle and is given a [...]