I know what it is. What is the consequence of buying a car with one? (besides it's not really fixed) Insurability, Finance?
Utah seems to be the home of "salvage titles". There are at least two fairly large dealerships that buy these wrecks-repair them and then sell them. I have seen some of their work-and it's not pretty. And you are right-the prices are not low enough for me to want to take a chance. They would have to be 50% below book for me to even to want to think about it-and they are not, it's like 5%.Unless it's an older car that was totalled out due to minor damage and low value, it's just not worth it. The discount from a clean title usually isn't that great, resale is difficult and the chances of it being repaired correctly are not on your side.
Even with a good title, those cars are a can-of-worms. Personally, I wouldn't take one if it were free.A friend was offered a XJ12 convertible for $3000. I suspect it has rebuilder title. Told him even if it was pristine w/regular title he would need to buy 2, one to drive and one for the shop. I would be tempted to get it (I know better), but it's convertible and an ugly brownish color.
Agreed. I was not looking for a Jaguar recommendation. I was curious about the title issue.Even with a good title, those cars are a can-of-worms. Personally, I wouldn't take one if it were free.
What was the appropriate price? One would assume below the market price of the same vehicle with a clean title?I've had two cars with salvage titles that were both fine. A 92 cutlass ciera that was eight years old at the time, and an 07 HHR that was six.
I would not buy a 4-year old Mercedes/ BMW/ etc with one to get "flash on the cheap."
Had no issues getting liability insurance nor reselling at an appropriate price.
Like said above, an older plain-jane car can get totalled real cheap, just needing a front clip or whatever.
Texas IIRC does separate flood titles which I wouldn't touch with a ten-foot pole. Not sure if there's a way to launder a flood title into a rebuilt one but if there is someone will find it.
Sold the HHR for $1200 with 210k miles and an EVAP code.What was the appropriate price? One would assume below the market price of the same vehicle with a clean title?
More challenging to sell privately also tanks resale if that matters to you.I know what it is. What is the consequence of buying a car with one? (besides it's not really fixed) Insurability, Finance?
So basically they were either junk or extremely basic transportation when you sold them-and at least for the HHR you were able to get something. At $1,200 all other factors are mute.Sold the HHR for $1200 with 210k miles and an EVAP code.
Junked the Olds for $50, not running and rusted out.
Hard to find "comps" on beaters so old I'm not interested anymore.
They would have to be 50% below book for me to even to want to think about it.
-and they are not, it's like 5%.