Saw a clean, running, C3 with salvage title. He claimed it was an old fire under the dash and it was all restored. I'm just curious how much a salvage title impacts the price on a ~50 year old car.

 

You may not be able to re-sell the car.
You may not be able to insure the car.
You need to verify the car is not stolen.
(it can be a real headche)

 

Simple math says: salvage title+50 year old fiberglass car+fire+sales bs=Run, Forrest, Run!

 

You need to research this in your state....... This is a state to state thing and varies WILDLY. In some states the car is strictly salvage only IE can't be titled and insured. In some states salvage title implies the vehicle was reconstructed and went through a road worthiness inspection. In terms of outright value if everything was done right given the age of the car I would say a similar non reconstructed car is worth about the same. But you gotta figure out the particulars on the title.

 

In California, it can mean one or numerous things happened to the car.
It was stolen and recovered
It was wrecked (burned in a fire) and rebuilt with salvaged parts and resold by the salvage company.
It was impounded or removed from private property as an inoperable vehicle, went unclaimed, then sold by the storage company to recover their storage fees.
Do your research, and get a VIN history print out from DMV.
The VIN history will tell you why it has a salvaged title.

 

Less than a year ago, I bought a 1968 Camaro with an Illinois reconstructed tittle. The PO had the car for 27 years. The Camaro was a recovered stolen vehicle. I bought the car a a very good price and really do not care about the tittle. State Farm had no problem insuring the car. As others have said, do your research.

 

All of the above comments are true, it's also one more obstacle to overcome when you sell it.

 

Thanks for all the replies. Normally I would never buy a salvage vehicle for all the reasons listed. Just curious if a vintage collectible car followed the same rules. Sounds like lots of variances by state. I see in CA one can change the title from salvage to rebuilt by jumping through the hoops, but the title always shows that it was salvage at one point.

This is news to me and good to know: "Do your research, and get a VIN history print out from DMV.
The VIN history will tell you why it has a salvaged title." thanks!

 

keep us updated if you find a buyable car

 

If you or anyone wants to know how much a Salvage Title or even a reassigned Vin number affects value, just look and follow the current auction on eBay. It’s a really nice corvette but unlikely he will get anywhere near what he wants or will get even his starting bid price, forget what his reserve is. This is what happens.
This is the auction number.
225696654894

 

In MN rebuilt/salvage titles means the vehicle has a branded title for the life of the vehicle. If you buy some thing that needs repair you have to keep all the repair parts receipts. After 90 days you have to have the vehicle inspected by the state inspectors. They aren't looking for good repairs, they are looking for stolen parts.
Near MPLS there is body shop that does lots of repairable vehicles. Prices for resale are about 25-30% lower than non salvage vehicles.
Back when I was working I had a 300 mile round trip to the airport at least every other week. I did a few repairable trucks and drove the wheels off them.
My 98 Wrangler with a LS6/4L60E swap was/is a salvage. State Farm insures it with no problem with an agreed value policy. It was a theft recovery with minor body damage.
Any classic car no matter clean title or not I would have it inspected by a body shop and a mechanical shop that you trust.

 

Don't forget the context of time. There was a period when a lot of basic C3s could be picked up for about $3,500 so it wouldn't take much damage for an insurance company to write one off back then.

 

I have a 72 coupe with a salvage title parked next to my 77 in my garage. Sadly all it took years ago to get this title was a drivers door skin and the lower half of the drivers fender to be replaced, and of course paint and finish work. The insurance company called it a total.

No major damage at all, no bent frame, no fire, nothing. Truth is its a very correct car that has not been messed with. Purchase price was low, I would expect the same will happen when sold.

Used to own a very nice 68 with a reissued NY VIN. Did a body off restoration and sold it. The VIN had little impact. It was a big block, 5 speed convertible.
Did very well with the sale.

 

Looks like it’s had front end damage at some point..

guy spends a lot of time explaining why the shortcomings are not shortcomings…

Hard Pass…

 

I had a 1978 with a reissued vin because it was a stolen recovery. You may not be able to sell it for as much but you also aren't paying as much for it so it balances out.

 

Doing a VIN search for any vehicle you purchase is a VERY good idea. After 50 years many have crossed state lines with NEW identities essentially. For example, in a state that shall remain nameless a vehicle came without a title with an owner during a permanent relocation. A title was issued for the car after minimal amount of time and not being listed stolen. Now the future buyer would not know that, unless a DMV printout tracked with the car.

I say this because nobody cares except the buyer, especially those NCRS guys and he seller when finding out on the backside. The reality is that it SHRINKS your customer base and the more scars and warts on the title the more so. Parting it out ? Never mind.

 

Simple:

One option is go buy a Hemmings magazine. Contact a place in NJ (which you will find a few enterprising folk in HMN, that do this) which re-issues titles. You indicate the tile has been lost, send a sale receipt and documentation they require. They then re-issue you a new NJ title. I know a few people (not me), who have done this over the years in legit cases where an old classic car (usually an old shell for a street rod proj, or estate sale partial restoration car) did not have a title and the seller was not responsive to get a title. You may want to contact them and 'float' the idea of salvage title. Now in your case you actually know the title is 'Salvage' ...so you have to wrestle internally weather to commit fraud or not. I personally wouldn't. And maybe this day and age, you go through the process and a re-issued title may still indicate 'Salvage' if the DMV's are connected. IDK

A guy I know bought a ford muscle car shell years ago out of state. The seller whom I also met when he got the car, didn't have the title but promised to get it to him. The seller was transparent about this before we all met to inspect it & make the deal. The seller was a very nice guy but a total deadbeat after the sale when it came to getting the title. It was always, "Oh, yeah, darn I forgot ...I'll go get it next week." This went on for over a year, maybe two. My buddy was slowly collecting parts and restoring the car. My buddy contacted that state's DMV and the car *was* indeed titled in the seller's name like the seller indicated ...all the seller had to do was drive 45 minutes to their county courthouse, fill out a form and get a duplicate title. That's how it worked in that state (SD) at that time. My buddy eventually drove 7 hours back to SD (was on vacation there anyway) and made a plan to meet the seller at the courthouse at a certain time and place. To get the title and sign it over to him. The guy called a half hour before and had an 'emergency' come up. And then the seller went radio-silent. Strange. So he went the NJ re-title route. It was a smooth transaction. YMMV

It also depends how you sell the car weather the salvage title matters or not. If the repair work was done correctly, and you sell it locally, is different than if you sell it on ebay or Carvana.

 

I own a DD vehicle with a salvage title. It was salvaged due to Tx hail. The story from the seller was when it was fairly new it was battered pretty bad by major hail in Tx. Then purchased/repaired by a body shop. Indeed, when I was working on the headliner a couple yrs ago, a guy can clearly see the entire roof was cut off and a new one welded on. The other body panels are GM. The work looks competent. No other damaged has been found. And that would have been like 15 years ago. There's also a Tx state inspection sticker on the B-pillar. I've personally rebuilt several salvage cars. So, doesn't personally bother me. Vehicles are salved out for a variety of reasons. As long as the repairs are done properly (and that's the rub).

But obviously some buyers/owners don't know squat about vehicles and are likely to be thrown into a tizzy by the very *mention* of salvage title.

 

A car being a “salvaged” or “rebuilt title” car in itself is not such a big deal EXCEPT where, in this case specifically, the vin reassigned to it is NOT a correct GM 1969 Corvette vin. I do not think New Jersey or anyone will reissue a title with a different vin number that was assigned by another state. They will only issue a lost title for the title of THAT specific cars vin, not any vin number you want and you will not have the original documentation showing a vin number that the car no longer has. Of course you could try to forge documents. No thanks, not interested in that. And it’s only a big deal if the seller is asking “Born with original drivetrain” money. If I’m going to spend over a specific amount of money I want a car that has the proper vin number over one that doesn’t.

Nothing wrong with a salvaged title. Fun to drive the crap out of it.

 

You're basically starting over with the NJ option AFAIK. It bears looking into and a call or two, if no other solution presents itself. I'm just throwing the info out there as a 'possibility' or option.

There my be some state arbitration at the DMV level. Exhaust that first obviously. It's a matter of getting in touch with the "right" person. Each state works by their own rules.