Rebuilt title???
Thread Starter
Burning Brakes
Joined: Aug 2008
Posts: 845
Likes: 12
From: LAKE BARRINGTON IL
Rebuilt title???
Hi guys,
I am looking to buy a 72 corvette, BUT it has a rebuilt title b/c it was in an accident, is it worth less??
even if it was put back together???
is it harder to resell??
any thoughts??
thanks,
factor
I am looking to buy a 72 corvette, BUT it has a rebuilt title b/c it was in an accident, is it worth less??
even if it was put back together???
is it harder to resell??
any thoughts??
thanks,
factor
Safety Car
Joined: Oct 2007
Posts: 3,729
Likes: 267
From: Austin Texas
Corvette of the Year Winner 2017
2016 C3 of Year Finalist
Not worthless, but it can scare off some buyers.
To protect yourself,
You need to Identify the damaged area,
and get a complete and full Vehicle inspection.
By someone who knows Vettes extremely well.
To protect yourself,
You need to Identify the damaged area,
and get a complete and full Vehicle inspection.
By someone who knows Vettes extremely well.
Racer
Joined: May 2008
Posts: 323
Likes: 0
From: ********** New York
Being it has the salvage title already I'm sure it has been inspected. However I would check with your local DMV I know in NY A salvage title requires what is called a 907A . It has to be inspected by the police tomakesure no repair part are from a stolen car. I dont know the process if it alreay has the salvage title but better safe thensorry so a call to your states DMV will solve that.
As for the salvage title I would definately have the vehical throughly inspected as 69Vett said frame damage ect. Personally I would be looking to pay 40-60%MAX of cars value UNLESS the car was stripped 2 the frame body off resto and repaired NO EXCEPTIONS. Salvage titles are only issued to a car that the damage exceeds more than 80% of the vehical value ,which to me mean wrapped around a tree.
As for the salvage title I would definately have the vehical throughly inspected as 69Vett said frame damage ect. Personally I would be looking to pay 40-60%MAX of cars value UNLESS the car was stripped 2 the frame body off resto and repaired NO EXCEPTIONS. Salvage titles are only issued to a car that the damage exceeds more than 80% of the vehical value ,which to me mean wrapped around a tree.
Race Director
Joined: Mar 2006
Posts: 14,112
Likes: 28
From: Florida
He posted it had a rebuilt title, not salvage title. That should mean that it has already met all the criteria in his state and is road legal and should be as safe to drive as a normal titled car.
It will always be worth a little less than a normal title, but it is anyone's guess as to how much. It certainly will never get the big bucks.
If done properly, a rebuilt is every bit as good a car as a clean one, just not worth as much. I've rebuilt lots of wrecks.
It will always be worth a little less than a normal title, but it is anyone's guess as to how much. It certainly will never get the big bucks.
If done properly, a rebuilt is every bit as good a car as a clean one, just not worth as much. I've rebuilt lots of wrecks.
Team Owner
Joined: Jul 1999
Posts: 65,492
Likes: 230
From: Orange Park Florida
:toe tap:
Melting Slicks
Joined: May 2001
Posts: 2,812
Likes: 4
From: Gig Harbor Wa
I broke my front and rear fenders and hood surround and replaced steering box, tie rod and strut rod.
I got lucky that I had good coverage so no rebuilt brand for me, but you can see that it doesn't take much to get the 80%.
I agree you should have the car inspected, but you are probably fine.
Also the 40-60% is a little low. I think worst case this car would be worth 80% of that with a clear title as long as the work was done correctly.
Melting Slicks
Joined: May 2001
Posts: 2,812
Likes: 4
From: Gig Harbor Wa
To answer your other question, yes it will be harder to sell. Anything like a rebuilt or salvage title will scare away some buyers, but you will find, there are a lot of people that don't care when it comes to older cars. I would bet that most cars that old have been in a fender bender or two.
If this was a 2005, then you would have a very hard time selling it and BB427's 40-60% is more in line.
If this was a 2005, then you would have a very hard time selling it and BB427's 40-60% is more in line.
Team Owner
Joined: Jan 2006
Posts: 37,637
Likes: 3,118
From: Crossville TN
You don't get a 'salvage' or 'rebuilt' title by having a "fender bender". I believe the car has to be officially totalled out by the insurance company to get those documents. Call the Motor Vehicles Bureau in your state to ask about the specifics of those type title documents. The 'rebuilt' title may have gone through a state inspection to be coded that way.
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Racer
Joined: May 2008
Posts: 323
Likes: 0
From: ********** New York
He posted it had a rebuilt title, not salvage title. That should mean that it has already met all the criteria in his state and is road legal and should be as safe to drive as a normal titled car.
If done properly, a rebuilt is every bit as good a car as a clean one, just not worth as much. I've rebuilt lots of wrecks.
If done properly, a rebuilt is every bit as good a car as a clean one, just not worth as much. I've rebuilt lots of wrecks.
What I'm saying is if it was wrapped rails are twisted car may never drive straight not every body guy can fix a frame perfect. I'm just covering all bases
You don't get a 'salvage' or 'rebuilt' title by having a "fender bender". I believe the car has to be officially totalled out by the insurance company to get those documents. Call the Motor Vehicles Bureau in your state to ask about the specifics of those type title documents. The 'rebuilt' title may have gone through a state inspection to be coded that way.
In any event he also told me with ALOT of red tape you can bring a salvaged title to a regular title if car .He wanred me it would not be easy
Safety Car
Joined: Oct 1999
Posts: 4,101
Likes: 10
From: NorCal
Not sure what area your in (east coast?), but here in CA the main draw back is insurance. With a salvage title (no 'rebuilt' titles here) the will only cover it for liability, since they already paid off on it and they will not fully cover it again. Not sure about places like Haggerty that do agreed value policies, but thats how it is for the majors like Farmers or State Farm.
The cool part is you can pick up that '72 for less than a clear titled one, and you can DRIVE it without worrying about hurting the value! Plus, liability only insurance is dirt cheap on an old car like that, at least out here.
Hans
The cool part is you can pick up that '72 for less than a clear titled one, and you can DRIVE it without worrying about hurting the value! Plus, liability only insurance is dirt cheap on an old car like that, at least out here.
Hans
Drifting
Joined: Mar 2003
Posts: 1,711
Likes: 2
From: Rochester NY
Salvage = totaled
Rebuilt = totaled, just a pleasent way to say it...
Melting Slicks
Joined: May 2001
Posts: 2,812
Likes: 4
From: Gig Harbor Wa
Drifting
Joined: Mar 2003
Posts: 1,711
Likes: 2
From: Rochester NY
yes agreed, but it did happen in an accident as stated...
Thieft Recover....
in the cases of car thieft... most sports cars would be beat on and red lined many times... not to mention aggressive starts and stops, most things an owner would not want to subject thier car too...
could be a flood car too.... you never know
Either way it is buyer beware... when it comes to rebuilds and salvage titles.
Thieft Recover....
in the cases of car thieft... most sports cars would be beat on and red lined many times... not to mention aggressive starts and stops, most things an owner would not want to subject thier car too...
could be a flood car too.... you never know
Either way it is buyer beware... when it comes to rebuilds and salvage titles.
Team Owner
Joined: Jul 1999
Posts: 65,492
Likes: 230
From: Orange Park Florida
yes agreed, but it did happen in an accident as stated...
Thieft Recover....
in the cases of car thieft... most sports cars would be beat on and red lined many times... not to mention aggressive starts and stops, most things an owner would not want to subject thier car too...
could be a flood car too.... you never know
Either way it is buyer beware... when it comes to rebuilds and salvage titles.
Thieft Recover....
in the cases of car thieft... most sports cars would be beat on and red lined many times... not to mention aggressive starts and stops, most things an owner would not want to subject thier car too...
could be a flood car too.... you never know
Either way it is buyer beware... when it comes to rebuilds and salvage titles.
and what makes anyone think for a split second that if the fabled NCRS can be so easily fooled into buying some rare vette as OEM, and then the state DMV's can NOT??
so the vette has a wreck, the car is fixed, even to the extent of swapping vin tags...a rather simple procedure.....think anyone is bothering to search for 'hidden' numbers???
if forging some engine stamp number is really so easy, think a phoney vin tag is any harder??? REALLY now???
all you need is a clean title, and all the rest can be made.....ALL the rest....
Got further news.....over the decades, NO state had ANY way to verify signatures on a vehicle title....clear title, signature of joe schomoe, and that thing was golden....transferred in a second....no id's required....
think about it for a second....how easy it was to go to the DMV and tag/title a car.....
NOW a daze they bother to walk out and look at the vin# on the w/shield....woopie doo.....
it's a USED car, get over it already.....
Melting Slicks
Joined: May 1999
Posts: 2,897
Likes: 0
From: Moon Township PA
While I would not buy a rebuilt/salvage titled car myself, I am sure others would as long as it is checked out very carefully by someone qualified to do that. I don't mean a casual going-over with a trained eye, but a real, honest to goodness check for hidden damage and poor repairs.
I have read that rebuilt/salvage titles can command a 50% reduction in value when it comes time to sell. And, as far as I know, aren't reuilt and salvage titles one in the same?
Go slowly and cautiously. Buyer beware.
Gary
I have read that rebuilt/salvage titles can command a 50% reduction in value when it comes time to sell. And, as far as I know, aren't reuilt and salvage titles one in the same?
Go slowly and cautiously. Buyer beware.
Gary
Burning Brakes
Joined: Jun 2004
Posts: 872
Likes: 3
From: Cortlandt Manor New York
If you can't find out why it has a rebuilt title and verify the repair then you should have it thoroughly inspected. If it passes a qualified inspection then you should only pay about 60% of its value. The questions you have are the same ones that will be asked of you when you want to sell it. A totaled car can be put back together but most will never be the same unless it is only sheet metal (fiberglass) damage.