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Missouri Considering Opening Salvage Sales to Public

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Missouri’s House of Representatives and Senate are simultaneously considering bills that would allow all residents of the United States to attend salvage pool or salvage disposal sales, rather than just licensed salvage dealers. Hearings were held in mid-February for the bills, H.B. 539 and S.B. 177.

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Opponents of the bills fear that opening salvage sales to the general public could put more improperly repaired vehicles on the road and increase title washing. Opponents also noted that unlicensed buyers might not follow the environmental regulations that salvage yards must.

Insurance companies, including Farmers, supported the bills at the hearings. Opening salvage sales to the general public could increase insurers’ returns on salvage sales.

The act also requires operators of salvage pool sales or subsequent purchasers who sell nonrepairable vehicles to non-U.S. residents to stamp the titles to such vehicles with the words “FOR EXPORT ONLY.” The current law only assigns this duty to the seller of a nonrepairable vehicle.

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