Salvage title - any advice?

[XFILE36]

I'm looking at  a salvage title Class B.  In order to get full coverage insurance I would have to jump thru hoops with the insurance co. and the DMV.  Any advice as to pass on buying it or just get liability (very costly just for that)?

 

[Dgorila1]

Pass, no telling what issues may show up over time with the vehicle, not to mention the Insurance and DMV problem you already mentioned.

 

[Ballenxj]

I'm looking at  a salvage title Class B.  In order to get full coverage insurance I would have to jump thru hoops with the insurance co. and the DMV.  Any advice as to pass on buying it or just get liability (very costly just for that)?

Do you really need full coverage? I have bought and sold vehicles that have had rebuild titles with no ill effects.
The most important thing to know about a rebuild titled vehicle is what the damage was originally? Was it repaired properly?
I have worked as an estimator before, and know that the insurance companies have cutoff points where they will total a vehicle. This is mostly done with computer software. I once had a Honda Prelude that was an in demand vehicle in it's day. I for fun punched in a high priced windshield. The software told me my vehicle was totaled? WTF?
The only downside of a rebuilt title is being up front with the new buyer, explaining the whole thing. It helps if you have pictures of the original damage, as well as paper from the body shop on how they performed the repair.
BTW, do you read your PM's?

 

[Txjaybird]

Other than knowing the score on damage and needed repairs there are other factors.

  There is the ins. which you know about.  My 1998 Safari conversion hightop and 2004 Aliner are insured with Geico.  I have liability, collision, comp, un-insured and under-insured, roadside service where they will dispatch 2 tow trucks if needed, also trip interruption where they reimburse me up to $50 a night.  My monthly premiums are just under $80mo.

In KY in 2008 when purchasing a car with a salvage title we had to make only the repairs needed so it was safe to drive, not pretty just needed to be  safe.  Needed to show the repairs before a title or tags were issued.  Could vary state to state or even county to county, I just don't know.  The damage was light.  We got liability ins. and they noted the prior damage                                         
   Insurance companies.....who knows

Jewellann

 

[XFILE36]

Do you really need full coverage? I have bought and sold vehicles that have had rebuild titles with no ill effects.
The most important thing to know about a rebuild titled vehicle is what the damage was originally? Was it repaired properly?
I have worked as an estimator before, and know that the insurance companies have cutoff points where they will total a vehicle. This is mostly done with computer software. I once had a Honda Prelude that was an in demand vehicle in it's day. I for fun punched in a high priced windshield. The software told me my vehicle was totaled? WTF?
The only downside of a rebuilt title is being up front with the new buyer, explaining the whole thing. It helps if you have pictures of the original damage, as well as paper from the body shop on how they performed the repair.
BTW, do you read your PM's?

Yes, I read my PM's.  Why do you ask?  He only bought it a month ago and doesn't know what the condition of the wreck was.  I guess I don't need full coverage.  My ins. co. suggested I do a Carfax rept or Lexisnexis.  Does anyone know if it will tell me the extent of the damage?   Thanks. 

P.S. They said in order to insure with comp and collision they need a copy of salvage title on file.  They need a letter from a licensed mechanic saying it was repaired and has been repaired and restored and has cash value or total loss value?  They need the vin#  She said it would then have to go to the DMV for an inspection.  For liability only it's very high insurance $844.75/year.

 

[eDJ_]

It could be crazy the first time through it.  I live in Ohio and a guy I know a few miles away has a salvage yard and rebuilds wrecks.  His wife has to drive some 50 miles each morning after she gets off her night shift to a DMV office where they look through all the photos and documentations of each part used to replace whatever was  replaced to prove the "donor vehicles" (scrap heaps in the salvage yard) were legitimate (not stolen vehicles) etc.

They have been doing it for some time and have a rapport with the DMV office where they take these cars.  Her biggest issue is to be there when the doors open so that there isn't a line.  Most of the time she says it goes smoothly and she can get a "clear" title on the vehicle which she drove there to be inspected....and then she can drive back and finally hit the bed and get some sleep. 

I would suggest finding out where the DMV facility is nearest to you where this inspection step is located.  Second,  the price would/should be pretty cheap to cover your expenses in undertaking this.   Thus,  you don't get more money into the project than it is going to be worth.

As Ballenxj suggest,  finding a buyer who would be interested knowing it to be a "rehab".   It could cause them issues if they buy it from you as well.

You may have to get it "safe" to operate and not care about it's looks.  (paint it with cans of spray paint)  "Beat it to fit and paint it to match" and then live with it while you drive your investment out of it.  When it is
finally worn out....sell it to a wrecking yard, or advertise it in as is condition to be used for parts salvage.

Most of the people I know who go this route are capable mechanics & body repair people.  They aren't so concerned with the looks of it but want it to be mechanically sound.  Then once they have restored the project they just drive it until it can't be driven any more.

 

[XFILE36]

Other than knowing the score on damage and needed repairs there are other factors.

  There is the ins. which you know about.  My 1998 Safari conversion hightop and 2004 Aliner are insured with Geico.  I have liability, collision, comp, un-insured and under-insured, roadside service where they will dispatch 2 tow trucks if needed, also trip interruption where they reimburse me up to $50 a night.  My monthly premiums are just under $80mo.

In KY

Man!  Your insurance (and all the extras) cost is about the same for my liability only in CA.  I could buy it monthly then re-register it in my new state of residence.

 

[XFILE36]

I would suggest finding out where the DMV facility is nearest to you where this inspection step is located.  Second,  the price would/should be pretty cheap to cover your expenses in undertaking this.   Thus,  you don't get more money into the project than it is going to be worth.

You may have to get it "safe" to operate and not care about it's looks.  (paint it with cans of spray paint)  "Beat it to fit and paint it to match" and then live with it while you drive your investment out of it.  When it is
finally worn out....sell it to a wrecking yard, or advertise it in as is condition to be used for parts salvage.

Most of the people I know who go this route are capable mechanics & body repair people.  They aren't so concerned with the looks of it but want it to be mechanically sound.  Then once they have restored the project they just drive it until it can't be driven any more.

I actually don't care about looks.  After driving a BMW that everyone likes to dent with their car doors, being "keyed" a couple of times, etc.  I will welcome a car that I don't have care about my new paint job.  It looks fine.  I am ONLY concerned if it runs well and is restored to drive safely.

 

[Dgorila1]

Man!  Your insurance (and all the extras) cost is about the same for my liability only in CA.  I could buy it monthly then re-register it in my new state of residence.

When you reregister it in a new state it should still say it has a salvage title. I know there are some shady sellers out there but somehow are able to wash the titles by reregistering it in certain states and getting the salvage erased off of it somehow.

 

[XFILE36]

Scratch that. It will cost $1270.75 for liability only, if I get rid of my BMW, which I plan on doing. It's cheaper if I keep the car, but I'm selling it. Does anyone know if the 4 no tax states are easy to register a salvage titled van?

EDITED: He said the rear door doesn't open, so possibly it was rear ended but he doesn't know, he bought it a month ago. P.S. Should I buy CARFAX OR LEXISNEXIS?

 

[Gary68]

insurance-the cheapest you can get

salvage/totaled title-depends on damage,i draw the line at anything frame/chassis

this deal-why did they go through buying and then selling within a month? are they flipping or did they find something out about the van?

 

[jonsun]

I just put liability back on my camper van. $11.21 a month. Had many a salvage title. It goes through inspection at DMV....which is: a girl comes out looks at the VIN, looks at the turn signals, headlight, yawns and signs the paperwork.

many motorcycles are salved because the ins co is quick to total them due to the ridiculous price of OEM body work and minor incidentals. People buy it back and rebuild it with aftermarket stuff for fractions. It's no big deal.

 

[XFILE36]

insurance-the cheapest you can get

salvage/totaled title-depends on damage,i draw the line at anything frame/chassis

this deal-why did they go through buying and then selling within a month? are they flipping or did they find something out about the van?

Vin:  has been identified as a vehicle listed in the VINCheckSM Salvage Records.
Date of loss: 2000-03-02
Cause of loss: Collision

He just told me the rear door won't open so he is guessing it was rear-ended.  The salvage title was in 2000.  I got that from the free website for vins to see if it was stolen/salvaged.  Can ANYONE please tell me what Carfax or other agency I should use to check vans?

 

[Ballenxj]

  He only bought it a month ago and doesn't know what the condition of the wreck was.  

This tells me the seller is buying and selling for profit. Beware. I would not buy from someone like that unless they could both tell me about the original damage with pictures, then show me documents from a reputable body shop detailing the repair work done. Not by Joe the Flea man on the corner. That's too large an investment for that. Move along.
Reason I ask if you read your PM's is that you asked me a question a while back, to which I replied via PM. I got no indication from you that you read it.

 

[XFILE36]

I just put liability back on my camper van. $11.21 a month. Had many a salvage title. It goes through inspection at DMV....which is: a girl comes out looks at the VIN, looks at the turn signals, headlight, yawns and signs the paperwork.

What state is that?  Mine's going to be about $100/mo.  My BMW is about 1/3 of that.

Is that the only policy you have or do you have multiple cars?  She said I would need a letter from a licensed mechanic stating it's been restored, then have a DMV inspection to get a I guess restored title(?) to get FULL coverage.  I probably won't full coverage, if I buy it. I asked why my BMW is so much cheaper and she said because the old cars are made of metal and do more damage to others.

 

[XFILE36]

This tells me the seller is buying and selling for profit. Beware. I would not buy from someone like that unless they could both tell me about the original damage with pictures, then show me documents from a reputable body shop detailing the repair work done. Not by Joe the Flea man on the corner. That's too large an investment for that. Move along.
Reason I ask if you read your PM's is that you asked me a question a while back, to which I replied via PM. I got no indication from you that you read it.

The salvage was done in 2000.  He bought it a month ago.  I don't think I got a pm from you but I will check again. how long ago did u send it?

 

[Ballenxj]

  I don't think I got a pm from you but I will check again. how long ago did u send it?

6-27-17, at 10:02 AM

 

[CautionToTheWind]

I asked why my BMW is so much cheaper and she said because the old cars are made of metal and do more damage to others.

Depending on the age of the vehicle, safety features lower insurance.

 

[CautionToTheWind]

Is there any information you can get from DMV? Odd it's held a salvage title this whole time = ??? Have you seen the vehicle yet?

The seller is likely flipping....for the cost of what they are asking, why haven't they done the work for a "revived salvage"...? I have to go through this with my mother 91 caddy. I took pic's of the damage so when/if the car gets sold, I have evidence of the cracks in fender (can you believe it has plastic fenders...the car is an otherwise metal beast, who knew). Because of approved vendors through her insurance totaling the car, my body guy buddy fixed the car for $250, now getting the shocks replaced, then new tires. Mom's car is a bit of classic now (has the Phaeton top, a simulated convertible top); she's had compliments and asking if she wants to sell. So I'm going through the hoops to get "betsy gray" back on the road!

 

[XFILE36]

Is there any information you can get from DMV? Odd it's held a salvage title this whole time = ??? Have you seen the vehicle yet?

The seller is likely flipping....for the cost of what they are asking, why haven't they done the work for a "revived salvage"...? I have to go through this with my mother 91 caddy. I took pic's of the damage so when/if the car gets sold, I have evidence of the cracks in fender (can you believe it has plastic fenders...the car is an otherwise metal beast, who knew). Because of approved vendors through her insurance totaling the car, my body guy buddy fixed the car for $250, now getting the shocks replaced, then new tires. Mom's car is a bit of classic now (has the Phaeton top, a simulated convertible top); she's had compliments and asking if she wants to sell. So I'm going through the hoops to get "betsy gray" back on the road!

Yes, he's a flipper.  I'm looking at her tomorrow.  I'm pm'ing you.  Is a revived salvage something that is written on the title?  I asked my insurance company and they didn't know what the title will say if I decide to get full coverage. I would have to ask the DMV.  So will they actually use those words on the title?  Love the name of Betsy Gray! Are you going to sell her?

Also, is $5900 high for a class b, dodge 1988 83,000 mi?  I thought they hold their value.