If you work with wrecked cars regularly you will probably go through the salvage process with insurance companies. Some buyers like this because it is priced much lower than the market. However, there are a lot of risks. You can get a safer deal by buying a used vehicle and being preapproved for financing. The car gets a salvage title if it is damaged so severely. This can occur if the repairs are going to cost about 70% of the cars value before it was wrecked. The car can be wrecked because of flood damage or from fire damage.