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Jack

Salvage Title

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What are the implications/limitations/problems of having a salvage title? What happens on re-sale?

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I have bought a few cars with salvage titles. They were significantly cheaper than the market value. Same thing when it came time to sell. It helps to have pictures or documentation to detail the damage or whatever it was that caused the problem. Some of these cars are recovered thefts and have very little or no damage.

I had a Honda "flood car" that had soaked carpets. Had it 2 years and never had a problem with it. Explained the whole thing to the buyer and he drove it away with a smile on his face.

It pays to be carefull at the purchase phase and expect the buyer to be the same at time of sale.

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"Salvage Title" means that the car was at one time considered to be more expensive to repair than the car's value. SOmeone was probably paid by an insurance company for the lost value.

Most states allow cars with salvage titless to be registered, inspected and driving on public roads. The real issue come when you want to sell your salvaged car or when it gets damaged by someone else and there is an insurance company involved. If your salvaged car get hit by an insured driver, you'll get a check for less than $500, more likely a few hundred. If you sell your salvaged car, it's really not worth more than a few hundred bucks.

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