What implications does a recovered theft title have?
Thread Starter
Melting Slicks
Joined: Jan 2005
Posts: 3,028
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From: Madison Ms
What implications does a recovered theft title have?
Looking at a 72 that was not wrecked, yet stolen, assuming later recovered...........It has a recovered theft title.
Does this lesson the value? If so why, and to what extent?
Does this lesson the value? If so why, and to what extent?
Team Owner
Joined: Jun 2000
Posts: 38,923
Likes: 1,482
From: Southbound
Cruise-In II Veteran
Possibly lessens value since stolen Corvettes are usually stripped. The bigger concern is whether you can legally title the car in your name in the event you buy it. Check to make sure.
Le Mans Master
Joined: Apr 2005
Posts: 6,360
Likes: 429
From: Seattle Area WA
Theft recovery titles are usually the same as salvaged titles. Figure a 20% deduction in value and in most cases keep receipts for the rebuild. Some states require a state police inspection as part of the registration process.
Burning Brakes
Joined: Jun 2004
Posts: 872
Likes: 3
From: Cortlandt Manor New York
Definitely less desireable than a non theft title. How much depends on how well it is sold.
"Stolen and stored- never touched" "Came back with the tires missing" will work better than "Stripped to the bones. I peiced it together from 3 wrecks. Looks pretty good huh?"
No matter what is said there is always a question of what really happened before I bought it? Figure 20-30% deduct for questionable history.
"Stolen and stored- never touched" "Came back with the tires missing" will work better than "Stripped to the bones. I peiced it together from 3 wrecks. Looks pretty good huh?"
No matter what is said there is always a question of what really happened before I bought it? Figure 20-30% deduct for questionable history.
Drifting
Joined: Oct 2004
Posts: 1,496
Likes: 1
From: Lafayette Louisiana
I had an 80 with a salvage title because it was stolen and the interior stripped out. I bought it for a steal and replaced the interior with no intention of reselling it. To me that is the key. If you are looking for max value stay away from salvage titled cars. If you want to enjoy a car and have no plans to ever part with it I say go for it if the money is right.
As far as keeping receipts. The insurance adjuster could care less unless you can get a stated value policy. When mine was wrecked, (not my fault) I was only able to get nada low retail for the car but that was about 3k more than I had in it.
As far as keeping receipts. The insurance adjuster could care less unless you can get a stated value policy. When mine was wrecked, (not my fault) I was only able to get nada low retail for the car but that was about 3k more than I had in it.
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Thread Starter
Melting Slicks
Joined: Jan 2005
Posts: 3,028
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From: Madison Ms
Originally Posted by gator79
I thought you made an offer on a 75 vert?