Which of the following indicates that a vehicle is a recovered theft vehicle with repairs that exceed its replacement value?

The correct choice indicates that the vehicle has a salvage certificate and that the repair costs exceed its replacement value. A salvage certificate is issued when a vehicle has been declared a total loss by an insurance company, but it may still be repaired. When the repair costs surpass the vehicle's replacement value, it is often deemed a recovered theft vehicle or one that has undergone extensive repairs following a significant loss. This designation helps ensure transparency regarding the vehicle's history and condition, allowing potential buyers to make informed decisions and adhere to safety standards.

The presence of a salvage certificate is crucial here, as it signifies that the vehicle had previously been involved in an incident severe enough to warrant a total loss declaration. The accompanying detail about repair costs solidifies the understanding that while the vehicle has been repaired, its past as a theft recovery may affect its valuation and insurability. Other options do not provide the same level of detail or classification needed to indicate a recovered theft vehicle with significant repairs.