Salvage Auction [Transportation] Law and Legal Definition

According to 49 CFR 599.102 [Title 49 – Transportation; Subtitle B -- Other Regulations Relating to Transportation; Chapter V -- National Highway Traffic Safety Administration, Department of Transportation; Part 599--Requirements and Procedures for Consumer Assistance to Recycle and Save Act Program; Subpart A—General], salvage auction means “an entity that receives a CARS trade-in vehicle from a dealer and is authorized to sell it only to a disposal facility on the Disposal Facility List and that will make all the necessary certifications for salvage auctions under the CARS program.”