I asked a very similar question not too long ago, but here is how it breaks down:There are three categories of a salvaged vehicle: Collission, Flood, and Theft.Of the three Theft is the least troublesome. These cars were stolen and then strpped down to the frame. So long as the person who rebuilt the car is using 100% original parts, theft shouldn't be a problem.Collission is when the car has been in a severe accident. To the point where the car was not in driveable conidition without being repaired. Somtimes these cars can have frame damage which is a major no-no. If you end up buying a car that has frame damage you do not want to be in another collission in that car trust me.Flood is the worst. However fresh water flood is not as bad as a collission. Salt water flood will cause your car to rust. In the end the car will be very problematic. Be carefull there are a lot of Flood cars on the market now due to Katrina.Hope that helped...