The meaning of SALVAGE is compensation paid for saving a ship or its cargo from the perils of the sea or for the lives and property rescued in a wreck. How to use salvage in a sentence.

SALVAGE definition: 1. to save goods from damage or destruction, especially from a ship that has sunk or been damaged….

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In North America, a salvage title is a form of vehicle title branding, which notes that the vehicle has been damaged and/or deemed a total loss by an insurance company that paid a claim on it.

Aug 22, 2025 · Discover what salvage value means, how it's calculated, and see examples of its role in depreciation schedules to better manage your financial assets.

to preserve (a useful or valuable part) from something otherwise wasted, discarded, or deemed a failure: I tried to salvage the unburnt part of the cornbread. We purchase end-of-life vehicles …

to save or rescue from shipwreck, fire, flood, etc.; engage or succeed in the salvage of (ships, goods, etc.)