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Old 10-29-2005, 09:43 AM   #1 (permalink)
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Hello - I am looking at a Bullitt car that has a salvage title and want to know how much of the value is lost with the "salvage" history - assuming the car has been repaired correctly and has no frame or other damage.
thanks in advance - VMF rocks.
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Old 10-29-2005, 10:05 AM   #2 (permalink)
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Did you run a CarFax on it?

If not, post the VIN and I'll run one for you.

Buying a car with a salvage title is fine as long as you realize what you're getting into. Resale, qualilty of repair, amount of original damage, etc.

It's not something I would consider personally because resale/market value is a big part of the equation for me.
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Old 10-29-2005, 10:17 AM   #3 (permalink)
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In Az., it takes 50% off the book value, no matter how well it is repaired.
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Old 10-29-2005, 10:45 AM   #4 (permalink)
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Personally, I wouldn't want or buy a car with a salvage title regardless of how well it was repaired or how little it cost.

But...if you just want it to drive the wheels off and you're not thinking about resale value and most importantly, it's SAFE then go for it.
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Old 10-29-2005, 11:05 AM   #5 (permalink)
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Salvage title doesn't always mean that the car was wrecked. It could have been stolen and no one claimed it with in a certain time frame. At which point it is rtitled with a salvage title. Atleast this is what I was told in PA.
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Old 10-29-2005, 11:14 AM   #6 (permalink)
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Quote:
Salvage title doesn't always mean that the car was wrecked. It could have been stolen and no one claimed it with in a certain time frame. At which point it is rtitled with a salvage title. Atleast this is what I was told in PA.
It's not about what you inform us of.....it's about all those "uneducated" buyers out there that also believe a salvage title means the car was decimated.
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Old 10-29-2005, 11:31 AM   #7 (permalink)
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It's kind of like a "scarlet letter" for a car. If I was considering such a car, I would want to see photos of the damage that resulted in the salvage title being issued. Not sure of current rules but years ago in California a car that was totaled by an insurance company and then sold by the insurance company and then rebuilt was reregistered as a "revived salvage" with the original license plates still on the car. If that same car was sold to a licensed dismantler before being rebuilt and subsequently sold and rebuilt, it became a "revived junk" and got new plates when it was reregistered. In either case, the reregistration process included a verification of the VIN, brake, light, glass and smog inspections. The new pink slip did not carry a notation of "salvage" or junk".
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Old 10-29-2005, 12:24 PM   #8 (permalink)
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Why was the car assigned a salvage title?
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Old 10-29-2005, 12:54 PM   #9 (permalink)
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I had a 94 Lightning that had a salvage title and had no problems with it. The nose of it had been in water. I would say 30% off of the value.
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Old 10-29-2005, 12:55 PM   #10 (permalink)
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My 01 Gt has a salvaged title. I had someone run a carfax on it for me, it came back with no wrecks. But it did however come back something to do with vandalism beyond the value of the car. Which was along the lines of what the PO told me about, someone broke all the windows, beat in the doors, the hood, just about anything you can imagine. It was completely repainted,had tons of body works etc. BUT, as a result I was able to get it for a killer cheap deal, and it at the time only had 45k on it, and the drivetrain was in perfect condition.

It will hurt my re-sale value , but to be honest I planned on keeping it until the wheels fell off anyways, and by then I could care less. I bought it so I wouldn't have to put so many miles on my 66.It has served its purpose well and has not given me any problems whatsoever in many miles.

....Don't hold me to this, but if I recall I think my insurance company increased my premium just a tiny bit b/c it carried a salvaged title...
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Old 10-29-2005, 01:49 PM   #11 (permalink)
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If it came from the Gulf Coast/New Orleans area, I wouldn't touch it with a 10 foot pole!
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Old 10-29-2005, 05:41 PM   #12 (permalink)
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I think what ever you are going to do with it should determine it's value. Just know on the flip side if you ever sell it, your efforts in fixing it up will be less realized in the selling price.
Hard to say a $% decrease all depends on the buyer. I would keep looking personally.
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Old 10-29-2005, 09:24 PM   #13 (permalink)
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I think salvage title doesn't, or shouldn't, have as much consideration when it comes to classic cars. It's more akin to looking up Kelly bluebook and basing value from it (if it went back that far). After so many years, most cars have had some kind of damage/repair work done, but what matters most is if the damage was repaired (well). When I got mine it had obviously been hit in the side hard, but all the damage was repaired and I wouldn't decrease any value from it based on that.

It also depends on how long you'll hang on to it. Unless you're a great mechanic/body man who will do most to all work yourself, you probably won't get out of it what you'll put in anyway.
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Old 10-30-2005, 11:47 AM   #14 (permalink)
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I bought my Kawasaki Concours with a salvage title in New Mexico. It had all the documented repair work which was just a new lower right fairing, front fender, grip, and saddle bag. It was layed over in the guys driveway and the guys insurance company bought it back.... I picked it up for close to 30% off book. Best part was the DMV here after inspection assigned a new title which was clear.
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Old 10-30-2005, 01:20 PM   #15 (permalink)
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How can you tell if the title is salvaged? Does it say it on the title, or is more research necessary to find out?
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