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Discussion Starter · #1 ·
Hi guys, i just have a question for all you guys/girls that have bought cars with salvage or stolen titles.

Questions:

1) Lets say i want to buy this car, what would i have to check to make sure that the car is actually his and not stolen.
2) Do i just register it like any normal vehicle or do i have to go through special inspections and stuff
3) Is the Insurance rate higher on stolen title cars???

Is appreciate any help that you guys can give me because i dont wanna buy a car and then find out that i cant do anything with it,

THanks
 

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I bought my car with a salvage title from being stolen. And I registered and insured it with no problems at all.
 

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1. I don't know, call the cops and ask them or run a carfax or something. I would want to make sure before you bought it though.

2. Ok, once it actually has a salvage title/stolen title, you only need to register it like a normal car (at least in FL). But, if it doesn't have a title yet, you need to go through inspections in order to certify it road-worthy and then they'll give you the title for it.

3. Yes, it is higher. I had a difficult time just GETTING insurance on my Integra (which has a salvage title). Also, you will probably NEVER be able to sell it, either to a dealership or another person. It just drops your resale value through the floor.
 

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Get a carfax account and run the VIN through it. If it has a salvage title then you will find out that way. Salvage title cars are worth waaaaay less than clean title cars. In fact, a lot of banks won't even loan on a salvage title because they know it is pretty much worthless. If you have the cash to buy it, then go ahead.

Most likely he won't have the title for it unless it is paid off. In order to get a title you need to have it all paid. If you were to buy my car, for example, I would have to take whatever you paid me for it and then go straight to the bank to pay it off. Then they would have to locate my title and give it to me then. It might take a few days or they might have it right there in the building. It just depends on the loaning institution and where they are located.

Insurance is rough because you never know what could be wrong with it. The entire suspension could fall off at a high speed or something. Its a risk that the insurance company is going to charge you for if they are going to take it.

Here is a little information you might want to read.

Industry standards followed by and noted in print by the National Automobile Dealers Association (N.A.D.A.) Appraisal Guides, Kelley Blue Book Market Report Official Guide, the International Society of Automotive Appraisers (I.S.A.A.) and additional automotive business entities within the United States of America, all devalue a motor vehicle that is in possession of a “Salvage Title”, by 20% - 50% of the normal, fair market retail value of the vehicle without a “Salvage Title”. The percentage variance increases with the younger age of the vehicle at issue and the retail value of that vehicle. Any vehicle that is more than 10 years old carries the 20% minimum devaluation to the fair market value of the vehicle.

Vehicles that are in possession of a “salvage title” from a total-theft strip insurance claim, opposed to a physical damage/impact type claim, are usually devalued in a lesser percentage amount from that of a collision or fire loss insurance claim branded “salvage title”. The percentage of devaluation is decreased by between 10% - 20%, based on the age and normal retail value of the vehicle.

If the vehicle is in possession of “junk” title, the percentage of devaluation for the value increases. This is due to the fact that the vehicle & title was branded “junk” by either the insurance carrier of record or by a state agency (Department of Motor Vehicles). This type of vehicle was supposed to have been dismantled, not repaired, based on the amount of damage sustained to the vehicle as a direct result of the loss it was involved in. Vehicles with a branded “junk” title are normally devalued by a percentage of 40% - 50%, depending on the year, make and model and normal retail fair market value.

once a vehicle is branded with a “salvage or junk” title of ownership, this type of tarnished history stays with the unit, even if the branded title is "washed clean" in another state to be free of the designation “salvage or junk”.

The marketability of any type vehicle with a “branded title or history”, is questionable. This is something to keep in mind, when contemplating the purchase of a vehicle with this condition present.

Researching the history of any vehicle, prior to a contemplated purchase is extremely important!
That is from here. Basically, before you buy anything you need to get a carfax report on it. Tell the owner to provide you with one if you don't want to pay for it. Even if you have to pay for it, its not going to break the bank. A carfax account is cheap stuff. Do yourself a favor and check it out first.
 

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This is the wrong venue to be asking that question. Call your county courthouse, that's the only place you are going to find the correct answer to your question. Some states will not register a "Salvage" title vehicle if it was wrecked. Good luck!
 

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Discussion Starter · #8 ·
well the car is in pretty good condition, i just need a few little extrior parts and it will run. I am not financing or anything because its costing me 500 dollars. And for thouse of you that have insurance on salvage title, how much does it increase. And im talking about liability because i know almost for sure that they arent going to give me full coverage on it. And i am for sure going to run carfax on the mofo.

Thanks for all input guys. keep em coming i need lots of opinions.
 

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This is an Integra you are talking about buying, right? An integra that runs for only $500 is not one that anybody will insure. I can guarantee you that. Its only going to be good as a parts car. For $500 I would be willing to bet the guy doesn't have the title and can't get you one. The car is probably listed as salvaged and there is more wrong with it than just a few exterior body parts. Its a parts car.
 

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hum, my car was recently stolen, and recovered. i have a "thef recovered title" on it, i'm located in california.

yes it not having a clean title does drop the value substantially. if you plan on keeping the car forever then that's a great deal, if not then i wouldn't buy it. heck the only thing that was stolen from my car was mainly the system and the cf hood, all that totalled the car. and believe me i would never be able to sell my car over 5k's, even though the parts on it now are worth more than that. i mean a car can be in perfect and excellent driving condictions. just cuz it has a salvaged title doesn't mean it relates to engine problems or major accidents.

i'd run a carfax like others have said. as well as ask for all the records on the car. as for my insurance, they covered basically the whole car 8g's or so and bought the car back for 400 bucks. anyways my plan is still the same and the price is still the same, my monthly that is, but the only thing that changed was that if it's stolen again i only get 50% back of whatever was in the car, of course pictures and reciepts are needed to prove that's what you had.
 

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95Teggy on Feb/26/04 said:
well the car is in pretty good condition, i just need a few little extrior parts and it will run. I am not financing or anything because its costing me 500 dollars. And for thouse of you that have insurance on salvage title, how much does it increase. And im talking about liability because i know almost for sure that they arent going to give me full coverage on it. And i am for sure going to run carfax on the mofo.

Thanks for all input guys. keep em coming i need lots of opinions.
insurance companies vary their pricing too much. call them and ask them.
 

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i live in pa and i buy and sell salvage cars all the time, the only problem i have is waiting for registration, and two of my friends do the same thing, never a problem, insurenc never gave me any crap. you buying it from a russian?
 

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my civic was salvaged cuz my bro rammed a car on the freeway. i got it back and put on a new hood and bumper fixed the fenders... teh car has been in 3 accidents, all my brothers fault... then it was stolen a few weeks later... with the salvage title, 70k miles, system, rims- they gave me 7gs... way below how much i spent on the car and fixing it up, but i got over 5 Gs haha. and then i just bought my salvaged gsr with 99k miles for 3 Gs.
 

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i bought my teg with a salvaged title as a stolen recovery,ran car fax before i bought it turns up that the car was stolen from florida and shipped here , the engine im guessing was stolen out of cept for the block casue everythign is brand new, have no problems car runs perfectly and the chassis only has 79k onit wheni bought it no problems got aperfect running and looking teg for 3800 i only bought it because when i saw the engine and everything i knew the car was in perfect mechanical order and didnt care aboutthe title , i would reccomend buyin a salvage title only if youi no the car is in good condition and your not gonna be ending up witha headache on your hands, and im sure i can find someone to buy my car if the time comes even if its got asalvage title... but for 500 for teg somethign must be wrong?? thats my 2cents
 

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In my experience with my GSR I had to repair it, take it to the state and get it inspected, then file the paperwork and wait for the title to come back. The only real hassle was the wait. No insurance problems, etc., and my new title doesn't even say anything about it previously having a salvage title. I called and inquired with the DMV, and they said that because it was restored to proper working condition, they consider it a normal vehicle again. The bottom line will depend on your state DMV though. After all, my car was totalled based on a state law that required a car to carry a salvage title if 2 or more major components were stolen or damaged. The seats and door panels were stolen out of it on the dealer's lot...the two major components listed were the driver's and passenger's seats. In my situation, I bought the car from the insurance company and they included an incredible amount of documentation...the police report, DMV papers from the state that totalled it, their damage report, estimates on repairs, and a mess of other stuff.
 

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i'm with AAA insurance, my monthly is at roughly 150 for the integra, and i have 1 speeding ticket on my record. full coverage on 4 cars though. having more cars help as they look at driving the integra like a "summer" car, a new 04 avalanche, 98 mercedez, 97 crv, and 93 integra. the monthly for all cars is like 300 bucks, but that's including three people, and a teenage driver on the plan as well.
 

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Discussion Starter · #20 ·
the car is 500 bux cause its missing lots a sh*t, and the guy already got his money and bought a new car, so his dad wants it out of there asap. He was sellin it for 1000 but now he just need to get rid of it cause its just been sitting there for like 4 months. But regardless im going to definately take a look at it, see how the engine runs and stuff b4 i buy it because i dont wanna pay 500 for the car and then 1500 for fixing it and inspection and stuff like that.
 
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