Salvage titles

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Submariner

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Looking for some insight on this in case someone has been through this before. I have a chance to buy a pretty nice 69 Dart that is on a salvage title out of Ohio. The story is that it was a theft recovery. Not wrecked or damaged. I would be bringing the car back to PA and titling it here. I assume it would still have a salvage title? Are you able to specify it was a theft recovery and not a totaled vehicle? Does this type of thing really affect value on cars this old? I mean, most street rods that are built are on some type of reconstructed title. I will have a clear title in my name after I bring it back to PA but will I have trouble if I ever want to sell it myself some day? It’s the colors and options I have been looking for but just wanted a little educated advice before I pulled the trigger. Thank you!
 
Idk about your state, but last I heard of in IL, no plates for salvage title, has to be inspected and certified and moved up to a rebuilt title. Then it will carry rebuilt on the title forever. I wouldn't be scared of a vehicle with a rebuilt title, I look all vehicles over as best I can before purchase.
 
We have what is called a "bonded title" You post a security bond, The county does a title search and if nothing comes up or no-one claims the car you get a clear title.
 
We have what is called a "bonded title" You post a security bond, The county does a title search and if nothing comes up or no-one claims the car you get a clear title.

It has a title, he said so. ;-)
 
I did this recently in Kansas. A salvage title is just like any other title with a few exceptions:

1. Many insurance companies will not give you theft or collision coverage due to the salvage title. Check around if that is what you want.

2. Does it actually have a salvage title yet? Is it licensed and driven? There are some differences in what is called a salvage title.
A. If you are the first owner after a salvage event, then your
State may require an inspection prior to putting it back on the
street.
B. If it has already been titled, licensed and driven as a salvage
Vehicle, then it may be just like buying a regular vehicle.

3. Having a salvage title certainly lowers the value of the vehicle, maybe 30-50%. I have no experience with classic vehicle salvage titles, but I would expect the same. Keep that in mind when you are buying if you are concerned about resale.

Every state has its own terminology on what they call salvage type titles and cars.

Many states, like Kansas, have rules for vehicles from out of state. You need to figure those out for your state.

Make sure you get the VIN verified before you buy. In Kansas they will look at body stampings, engine and transmission VINs if present to look for stolen parts.

I think buying salvage cars can be a great deal ( my purchase was), but check everything out well.
 
Idk about your state, but last I heard of in IL, no plates for salvage title, has to be inspected and certified and moved up to a rebuilt title. Then it will carry rebuilt on the title forever. I wouldn't be scared of a vehicle with a rebuilt title, I look all vehicles over as best I can before purchase.
I did this recently in Kansas. A salvage title is just like any other title with a few exceptions:

1. Many insurance companies will not give you theft or collision coverage due to the salvage title. Check around if that is what you want.

2. Does it actually have a salvage title yet? Is it licensed and driven? There are some differences in what is called a salvage title.
A. If you are the first owner after a salvage event, then your
State may require an inspection prior to putting it back on the
street.
B. If it has already been titled, licensed and driven as a salvage
Vehicle, then it may be just like buying a regular vehicle.

3. Having a salvage title certainly lowers the value of the vehicle, maybe 30-50%. I have no experience with classic vehicle salvage titles, but I would expect the same. Keep that in mind when you are buying if you are concerned about resale.

Every state has its own terminology on what they call salvage type titles and cars.

Many states, like Kansas, have rules for vehicles from out of state. You need to figure those out for your state.

Make sure you get the VIN verified before you buy. In Kansas they will look at body stampings, engine and transmission VINs if present to look for stolen parts.

I think buying salvage cars can be a great deal ( my purchase was), but check everything out well.
I did this recently in Kansas. A salvage title is just like any other title with a few exceptions:

1. Many insurance companies will not give you theft or collision coverage due to the salvage title. Check around if that is what you want.

2. Does it actually have a salvage title yet? Is it licensed and driven? There are some differences in what is called a salvage title.
A. If you are the first owner after a salvage event, then your
State may require an inspection prior to putting it back on the
street.
B. If it has already been titled, licensed and driven as a salvage
Vehicle, then it may be just like buying a regular vehicle.

3. Having a salvage title certainly lowers the value of the vehicle, maybe 30-50%. I have no experience with classic vehicle salvage titles, but I would expect the same. Keep that in mind when you are buying if you are concerned about resale.

Every state has its own terminology on what they call salvage type titles and cars.

Many states, like Kansas, have rules for vehicles from out of state. You need to figure those out for your state.

Make sure you get the VIN verified before you buy. In Kansas they will look at body stampings, engine and transmission VINs if present to look for stolen parts.

I think buying salvage cars can be a great deal ( my purchase was), but check everything out well.

So, to make it even a little more convoluted, the seller never titled it in his name. The salvage title is in the name of the person he got it from. Car is priced under what the value should be (not half, but 7-10k under where it would normally be). The title is signed by the guy he got it from.
 
Just wait till you buy it, and it gets damaged in a accident, the OTHER insurance company will be the one to pay the claim, and you will definitely NOT get anywhere near fair value, just because of the salvage history.
 
State o Fl has to deem it as salvage tittle eligible. I have rebuilt several salvage tittles cars and trucks. It stays on the car and tittle for ever. I’ve not done classic cars but I know on late models it drops the value by 30-40%
 
If you're worried about your cars' value get the car appraised by certified appraiser.
 
I used to rebuild salvage late model cars, depending on who done the work, is how nice the car turns out.
The salvage will remain with the car for ever, no getting rid of a salvage title, value is around 25% of a non-salvage car in the same shape.
Everybody that is selling a salvage car, says it had minimal damage, hell I have cut 3 late model cars up to make one.
But when the boss sold it, he showed them a pic of the good side of the car.
 
Buy the car, enjoy it and don't worry about.

I have heard of some states that will not title a salvaged car.
 
Salvage title is just that- Salvage a vehicle which would have been totaled otherwise. Pay a price expecting the decreased value going in. You can polish it all you want but it won't change the Title situation. If you go to sell it there may be someone out there who does not care but they are few and far between. Otherwise most buyers will either be apprehensive about it or expect a drastic reduction in the asking price. That's just the way it is....

On the flip side if you don't care so much about resale you can nab a nice car this way for much less mucho denero.....

JW
 
Salvage title is just that- Salvage a vehicle which would have been totaled otherwise. Pay a price expecting the decreased value going in. You can polish it all you want but it won't change the Title situation. If you go to sell it there may be someone out there who does not care but they are few and far between. Otherwise most buyers will either be apprehensive about it or expect a drastic reduction in the asking price. That's just the way it is....

On the flip side if you don't care so much about resale you can nab a nice car this way for much less mucho denero.....

JW
That’s kind of what I’m thinking. It’s a 69 Swinger 340 B5 blue, white tail stripe, blue interior, 4 speed. All numbers matching. Paint isn’t show quality but pretty dang nice. Very clean car that again, was not wrecked or stripped, just a theft recovery. Curious what you guys would think value would be?
 
Totally depends on that state laws. Doesn’t PA require a regular inspection or something for registration? Salvage title vehicles usually have to be inspected more frequently in states that do inspections.

With a classic I wouldn’t be too concerned about the resale unless it was supposed to be some high end numbers matching resto deal. For a decent mid range car it won’t be a big hit, but for a high end collector it will drop that value. The higher the sale price of the car the more it will affect it.

The biggest concern for me would be all the hoops they make you jump through to get it registered. In California it’s not a big deal if it already has a salvage title, there’s an inspection to get it registered initially but after that it just carries the salvage title. But there’s no regular inspections here either.


That’s kind of what I’m thinking. It’s a 69 Swinger 340 B5 blue, white tail stripe, blue interior, 4 speed. All numbers matching. Paint isn’t show quality but pretty dang nice. Very clean car that again, was not wrecked or stripped, just a theft recovery. Curious what you guys would think value would be?

Hard to say without pictures. But that’s exactly the kind of car that would be affected more by a salvage title. If the buyer cares about having a matching numbers 340 car then they’re going to care about the salvage title too.
 
Totally depends on that state laws. Doesn’t PA require a regular inspection or something for registration? Salvage title vehicles usually have to be inspected more frequently in states that do inspections.

With a classic I wouldn’t be too concerned about the resale unless it was supposed to be some high end numbers matching resto deal. For a decent mid range car it won’t be a big hit, but for a high end collector it will drop that value. The higher the sale price of the car the more it will affect it.

The biggest concern for me would be all the hoops they make you jump through to get it registered. In California it’s not a big deal if it already has a salvage title, there’s an inspection to get it registered initially but after that it just carries the salvage title. But there’s no regular inspections here either.




Hard to say without pictures. But that’s exactly the kind of car that would be affected more by a salvage title. If the buyer cares about having a matching numbers 340 car then they’re going to care about the salvage title too.
 
That’s kind of what I’m thinking. It’s a 69 Swinger 340 B5 blue, white tail stripe, blue interior, 4 speed. All numbers matching. Paint isn’t show quality but pretty dang nice. Very clean car that again, was not wrecked or stripped, just a theft recovery. Curious what you guys would think value would be?


Worst car from a sellers perspective to get the number they want out of it. Potentially a good scenario for a buyer like yourself. But if neither party wants to find a neutral ground, it will either create you the buyer spending too much or just walking away....

So what's it worth? Not much info but a stroll through ebay and other sites will let you find something similar with a clean title. Me personally, 30% loss of the value.

JW
 
If I get antique plates it won’t need inspected. I may just need the original inspection done to get the title. But I was afraid of not being able to get my money back out of it. I may just have to keep it and value be damned. I was really looking for a 68-70 B body and then this curveball came along and screwed my head all up.
 
If I get antique plates it won’t need inspected. I may just need the original inspection done to get the title. But I was afraid of not being able to get my money back out of it. I may just have to keep it and value be damned. I was really looking for a 68-70 B body and then this curveball came along and screwed my head all up.

If you want to invest your money do so in the Stock market. A salvage title is definitely not the place to think return. Life's gain is not always monetary. It could be a fun car for the right price.... Throw some pictures up so we can see it if you push forward...

JW
 
If I get antique plates it won’t need inspected. I may just need the original inspection done to get the title. But I was afraid of not being able to get my money back out of it. I may just have to keep it and value be damned. I was really looking for a 68-70 B body and then this curveball came along and screwed my head all up.
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Looking for some insight on this in case someone has been through this before. I have a chance to buy a pretty nice 69 Dart that is on a salvage title out of Ohio. The story is that it was a theft recovery. Not wrecked or damaged. I would be bringing the car back to PA and titling it here. I assume it would still have a salvage title? Are you able to specify it was a theft recovery and not a totaled vehicle? Does this type of thing really affect value on cars this old? I mean, most street rods that are built are on some type of reconstructed title. I will have a clear title in my name after I bring it back to PA but will I have trouble if I ever want to sell it myself some day? It’s the colors and options I have been looking for but just wanted a little educated advice before I pulled the trigger. Thank you!
here in ms, if your licensed to buy from the insurance auctions, you can buy a salvage car, rebuild it, have it inspected and then have it changed to a rebuilt title. that stays on the title for good.
 
So, to make it even a little more convoluted, the seller never titled it in his name. The salvage title is in the name of the person he got it from. Car is priced under what the value should be (not half, but 7-10k under where it would normally be). The title is signed by the guy he got it from.

This complicates it even more, although it is done frequently. Can you get a bill of sale from the titled owner?

Seem like a lot of complications which means more risk for you & less risk for the reseller. I would pay a little more to have him title it in his name.

Has the salvage inspection been done? I would figure out exactly what the status of the title is before moving forward. If all the paperwork has the titled owners name on it and not the reseller, he has no liability at all. He can walk with your money no matter what.
 
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