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-   -   Newer Cars with Salvage Rebuilt Tittle - Value? (http://www.clubcobra.com/forums/lounge/136770-newer-cars-salvage-rebuilt-tittle-value.html)

olddog 06-20-2016 06:00 PM
Newer Cars with Salvage Rebuilt Tittle - Value?
 
I have been looking at getting another daily driver. I like to look for 1-2 yr old less than 30K miles.

Several have popped up that have a Salvage Rebuilt tittle. The ones I have seen are Body shops. They buy a damaged car from an insurance company with a salvage tittle. Then they repair the car and get a Salvage Rebuilt tittle, when it passes inspection.

These places selling them are asking ~75% of what it would be worth if it didn't have a salvage tittle. Car dealerships tell me they will only give 50% on a trade in.

My insurance company will not tell how they would value one should it be a total loss. This makes me want to get a different agent.

Anyone have any knowledge in this area? I would like to know how to properly value such a car.

YerDugliness 06-20-2016 06:09 PM
Find an insurance agent/company that will insure at agreed value...but be prepared for that value to be lower than if it were not a salvage title.

Cheers!!

Dugly :cool:

mrmustang 06-20-2016 06:16 PM
Quote:
Originally Posted by olddog (Post 1395483)
Anyone have any knowledge in this area? I would like to know how to properly value such a car.
A salvage history (aka: rebuilt title) car is worth generally 50-60% of the value of a similarly equipped, non salvage/rebuilt vehicle. That is pretty much the bottom line with any and all insurance estimate of value, and as you might find, some insurance companies will not write a policy on a "salvage title" vehicle. If it has a "rebuilt title", then it has already been through that states secondary inspection process, and found to have been repaired properly. If it still has a "salvage title", I'd not touch it with a 100 foot (polished brass ;) ) pole


Bill S.

olddog 06-20-2016 06:30 PM
Bill,

As I understand, when the insurance company sells it to a scrap dealer or body shop, the tittle (or sales reciept) says salvage, and the car cannot be put on the road, even if it was only hail damage. It has to go through an inspection before it can get another tittle and put on the road. Ohio re-issues the title as Salvage Rebuilt. The Salvage brand stays on the tittle forever, to prevent anyone from hiding the history. So it is not a Salvage tittle. It is Salvage Rebuilt.

Thanks for the 50-60% number. That seems in line with the dealerships I talked to. The sellers are asking 75%, but I do not know what they will take.

Thanks
Rick

olddog 06-20-2016 06:38 PM
Another issue. What if a Salvage Rebuilt tittle car was in a neighboring state. Even though it passed inspection in the neighboring state and was issued a new tittle, would my state have to accept that tittle or could they make me go through another inspection process?

mrmustang 06-20-2016 06:42 PM
Quote:
Originally Posted by olddog (Post 1395492)
Another issue. What if a Salvage Rebuilt tittle car was in a neighboring state. Even though it passed inspection in the neighboring state and was issued a new tittle, would my state have to accept that tittle or could they make me go through another inspection process?
That is a question only your state DMV/MVS office can answer.

joey4420 06-20-2016 07:04 PM
I bought a 2006 Scion Xa for my son to drive a couple years ago, it had a Title from either delaware or maryland I don't remember now. It was a rebuilt title. Got it for 2k if I recall correctly. Only issue the car has is the A/C still doesn't work, but my son has learned to live with it as he prefers the windows done 90% of the time anyways in the summer. It is titled here in Ohio with no issue and only the normal out of state inspection (i.e. the BMV person verifies the title vin and the vehicle vin match)

olddog 06-21-2016 08:10 PM
Thank you all very much for the information.


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