Colorado Department of Revenue
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Owner

 

Notebook and Pen  

  • A salvage vehicle is a vehicle whose model year of manufacturer is less than six years at the time of damage and is damaged by collision, fire, flood, accident, trespass, or other occurrence, excluding hail damage, to the extent that the cost of repairing the vehicle to a roadworthy condition and for legal operation on the highways exceeds the vehicle’s retail fair market value immediately prior to such damage, as determined by the person who owns the vehicle at the time of such occurrence or by the insurer or other person acting on behalf of such owner.
  • The owner of a salvage motor vehicle may make an application for a salvage certificate of title before the sale or transfer of such motor vehicle. All subsequent purchasers or transferees of a salvage vehicle, other than transactions that are not subject to taxation pursuant to Colorado Revised Statute 39-26-104, must obtain a salvage certificate of title in the owner's name within 60 days from the date of purchase or transfer. Colorado Revised Statute 42-6-110
  • If an insurance company acquires a motor vehicle that has been defined as "salvage" in accordance with Colorado Revised Statute 42-6-102(17)(a) the insurance company must apply for a salvage certificate of title in accordance with Colorado Revised Statute 42-6-136(2), before transferring ownership of the vehicle.
  • If the owner retains a motor vehicle upon settlement of a claim with an insurance company, and the vehicle has been defined as "salvage" in accordance with Colorado Revised Statute 42-6-102(17)(a), the owner must apply for a salvage certificate of title  in their name.