02-14-2016, 04:09 AM
Black wrote:
[quote=Paul F.]
I'm a little fuzzy on whether this is a state to state thing, or more or less universal, but in CA, once it's a Salvage title, it's ALWAYS a salvage title... But since it has to be shown to be road-worthy before it can be re-registered after being totaled, that doesn't mean it's a bad thing - the salvage title just alerts all future owners that it WAS once totaled.
No idea if thats the way all states do it.
[quote=Black]
[quote=Paul F.]
[quote=Black]
Question re: title status "rebuilt" in craigslist ads-- I see this a lot from private owners.... this means someone took a car that was in junk or salvage status at some point e.g. after being totaled by an insurance company and rebuilt it?
Yup...
Sometimes (when the damage that "totaled" it was body and fender stuff) it can be a great deal... Other times (when it went for a swim in salt water...) it's buying trouble. Lots and lots of trouble...forever.
If the title says Salvage on it, require more info, and a carfax report... IMHO
If the title says "salvage" I would have to jump through hoops to get it converted to some other status, no?
Thanks... I guess I feel less clear on what a "rebuilt" title means then...
IMHO a rebuilt title means that the car is worth about half of the kbb. As Paul F indicated, it is tainted forever in most states. That doesn't necessarily mean that it is a bad car, but you are stuck with a title which will drive most buyers away. One of my cars (an MGBGT) has a salvage title due to some fairly minor body damage which the insurance company didn't want to fix, so they totaled the car. I repaired the damage by replacing the dented panels with brand new ones but the title still stays as salvage. Fortunately the car is so ancient that salvage vs non-salvage doesn't even matter anymore, but for newer cars it makes a huge difference to the resale value.