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I'm looking at buying a 1965 with a 396. It's a beautiful car but it has a rebuilt title. I know that it will affect the value, but how much? It does have the original motor.
From: Middle TN by way of KY, OH, VA, IL, CA, FL, NY, SC, HI
It may affect the value for less for a classic car than a recent model year used car. Witness classic rare cars being rebuilt from nothing but a rusted frame.
But it is a fair warning to do your homework well on what the reason was for the rebuild title and how true the fix.
A rebuilt title can be as bad as a car assembled from many disconnected car's parts, a real frankenstein's monster, if you will.
Or it could have been totaled by the insurance company appraiser for damage>value, and rebuilt from correct parts, using the main pieces from the damaged car.
I would tread carefully. Lots of people would not touch one, and that hurts your potential resale market and in turn softens the price point.
While a 100-mile documented perfect 1967 L-88 will be worth more than a real L-88 returned from the grave, a real L-88 is still an L-88.
Hi MMJ,
In my opinion, I would look for another car. There is a reason it has a rebuilt title, and it will always be a stigma with the car. It will certainly affect the value and the resale ability of the car. You will always have to explain the rebuilt title with that strange feeling inside as though you are sugar-coating something bad. It's unfortunate that it's a nice car that you are considering, but finding a car without the stigma will be a better choice and you won't have any regrets in the future.
As others have said thread lightly. I would base my decision on these 3 things. IF the car is as nice as you say and IF you're getting it at a cut rate deal and IF there's no registration problems with the powers that be, then it might be worth looking into. My .02
When it comes time to sell, the next buyer is going to be asking himself the same thing. I'd guess you'd have to discount it at least a third to entice someone to consider it. If you can't register of insure it, then you'll never get rid of it.
You gotta wonder why it has a salvage/rebuilt title... was it theft recovery? Serious Damage in an accident? Flood Car? Any idea of when the damage happened and when the title rebuilt title was issued?
It doesn't take long, searching this forum to find outstanding cars that have been "rebuilt" from rusted out hulks of nothing. How much different are they in reality to a car that may have been totaled, then rebuilt/salvaged? I don't know...
But, there certainly is a stigma that goes along with the rebuilt title... what is that stigma worth is probably different for everybody, but most would just keep looking for another car.
You gotta wonder why it has a salvage/rebuilt title... was it theft recovery? Serious Damage in an accident? Flood Car? Any idea of when the damage happened and when the title rebuilt title was issued? It doesn't take long, searching this forum to find outstanding cars that have been "rebuilt" from rusted out hulks of nothing. How much different are they in reality to a car that may have been totaled, then rebuilt/salvaged? I don't know... But, there certainly is a stigma that goes along with the rebuilt title... what is that stigma worth is probably different for everybody, but most would just keep looking for another car. What is the ask on the car?
Thanks guys, the ask on the car is 55000. But I think you guys are right, when it comes time to sell I would always have to be explaining away the title. Think I'll just keep looking.
For $55K, you could get a well sorted mid year with no stigma/issues
Here is one that is very sharp... $55 Ask, and its a SB HHP 365 Matching motor car
965 Black sting ray convertible corvette , 327 motor, 365 horse power, 4 speed. All original, with matching numbers. completely restored, Includes black hard top and cream colored convertible top. Excellent condition. $55,000.00. Call 828-231-6030 ask for Jim. Asheville, N.C. area.
The actual stigma is the only problem.
What is a salvage car? A car is totaled when damaged would cost 80% of its value in repairs.
Consiter a 57 Vette that was totaled in 57 for $4000 in repairs and stored in a barn until 2013. It may cost $25,000 to restore, but would be a $75,000 car. So if if all the repairs were first class it would be a bargan, and a very desireable car.
Some states automatically brand a title as "Salvage" whenever the car is declared a total loss by the insurance company, regardless of how badly it was damaged. Then when the car is repaired in the future and returned to the road, it is branded as "Rebuilt". Cars like this can be an incredible bargain, because there are people who are scared of the branded title. Because of the age of the car, there are ways to "clean" the branding from the title.The only caveat is to inspect the car well and make sure that it does not have any serious issues with the frame or suspension.
Pay particular attention to those states that do not issue a title for a car this old, as these states are the key to "cleaning" the branding from the title.
My 69Z has a rebuilt title. The fact that it is a factory black X77D80 car, may hold up a little more value, than say a Hugger Orange Z, but mine is a non original anything drive train, so, even with it not being for sale, I have it insured for 35k. It take a crazy offer for me to consider even selling it, bc, hey, you can't fix stupid, and if stupid money was offered, I might send it down the road. But for what somebody may pay, they can have an original drive train car with a non rebuilt title. It's all in what you want to do with the car. If you plan to sell it eventually, move on.. If it's "THE ONE" buy it and don't look back. Seems to me though, you are not looking to keep this car forever, and that is PERFECTLY okay, just think what you want in the end result.. Plan to keep it? Inspect it and move forward based on that. If not spend a little more and buy a non salvage title.. In the end though, good luck, it'll happen!!
PS, the caps are not yelling, just emphasis on those words..
, Roger
