Should I be concerned about a salvage title?
5 Answers
If the vehicle is not that old, yes! If it's an older model, not so much. A salvage title is issued when a vehicle is damaged to the point the insurance company decides it's not worth as much to fix it than what it's worth. On a vehicle that's fairly new, that means a lot of damage! But on an older model it could just mean a fender bender. If the vehicle currently has a salvage title you'll need to have it repaired and then inspected by your State. When it passes inspection a rebuilt title is issued and you can register the vehicle to use it. A salvage title history decreases the value significantly because most people are afraid of a vehicle that's been wrecked. Hope that helps! Jim
You have mode years "99 to "08, so they're pretty old, making damages that could cause a car to be economically totaled pretty small. Cars in good condition likely lie in the range of a couple grand up to six grand. I know people who buy salvage cars outside of California, repair and get clear titles in other states, then sell in California. First, a novice should never buy a car with a salvage title, but if the title was repaired properly, it might be a good buy for those knowledgeable in cars. If the repairs were minor and fixed well, and often it's not easy to tell if that's true, a car in that price range with a clean title and a former salvage title should diminish the price around twenty-five percent. But an existing salvage title should be determined by an inspection and evaluation of damages. Often the salvage titled cars are sold because the owners found that repairs cost more than they’re worth and are trying to pass the loss on to unsuspecting buyers. Shop the site, Copart for salvage information.
Just back away, turn around and RUN.
ANSWERED 2 DAYS AGO..... You have mode years "99 to "08, so they're pretty old, making damages that could cause a car to be economically totaled pretty small. Cars in good condition likely lie in the range of a couple grand up to six grand. I know people who buy salvage cars outside of California, repair and get clear titles in other states, then sell in California. First, a novice should never buy a car with a salvage title, but if the title was repaired properly, it might be a good buy for those knowledgeable in cars. If the repairs were minor and fixed well, and often it's not easy to tell if that's true, a car in that price range with a clean title and a former salvage title should diminish the price around twenty- five percent. But an existing salvage title should be determined by an inspection and evaluation of damages. Often the salvage titled cars are sold because the owners found that repairs cost more than they’re worth and are trying to pass the loss on to unsuspecting buyers. Shop the site, Copart for salvage information.
Huge thank you to all of the perspectives and insight. Based on this and some further research, I am confident in the next steps with repairing or scrapping my salvage titled car.