Salvage title
Team Owner
Joined: Jan 2009
Posts: 73,568
Likes: 33
From: Somewhere in Mo
St. Jude Donor '09-'10, '14
I would see if I could get a regular title. Some places will let you have one if it's inspected by the state. It still shows prior salvage but it's less of an issue than an actual salvage title.
For a vette that I planned on keeping for a long time or a car I planned to dd until the wheels fell off I would consider one.
But be prepared if you ever sell it, no matter how good of shape it's in you'll have to sell it at a discount.
There's a dealer in Sedalia, Mo that has some prior salvaged cars on consignment. I'm thinking of buying one for my step son. Talked to the dealer and they said they have a few of his cars on their lot and have delt with them for 10 years and have had no issues with any of them. They buy them from insurance companies and repair and then consign them.
For a vette that I planned on keeping for a long time or a car I planned to dd until the wheels fell off I would consider one.
But be prepared if you ever sell it, no matter how good of shape it's in you'll have to sell it at a discount.
There's a dealer in Sedalia, Mo that has some prior salvaged cars on consignment. I'm thinking of buying one for my step son. Talked to the dealer and they said they have a few of his cars on their lot and have delt with them for 10 years and have had no issues with any of them. They buy them from insurance companies and repair and then consign them.
Heel & Toe
Joined: Aug 2011
Posts: 21
Likes: 0
From: Houston Texas
I have purchased and rebuilt several salvage title cars. I never had any insurance problems. One car that had a salvage title, I also wrecked and the insurance paid off in full they do not differ between salvage or blue title when paying. If you go to sell one of these cars you will get less but you also gave less. Also the purchaser of your car will need a personal loan as the banks will not lend money on a salvage title. After the car is old enough it reaches a point its only worth so much, about the same. I have driven for years 1 or 2 year old reconditioned cars for less than 1/2 the price.
Drifting
Joined: Apr 2011
Posts: 1,454
Likes: 6
From: Pittsburgh PA
I have purchased and rebuilt several salvage title cars. I never had any insurance problems. One car that had a salvage title, I also wrecked and the insurance paid off in full they do not differ between salvage or blue title when paying. If you go to sell one of these cars you will get less but you also gave less. Also the purchaser of your car will need a personal loan as the banks will not lend money on a salvage title. After the car is old enough it reaches a point its only worth so much, about the same. I have driven for years 1 or 2 year old reconditioned cars for less than 1/2 the price.
Much what I was trying to say.
Good point about the age. Many years ago had a R Title 93 Taurus that my then wife drove for years. Eventually sold it for $2500. Guy was buying it for his daughter and didn't care about the title. Had about 7 grand and my labor in it when it was practically new. So cost me $4500 for her to drive a nice dependable car all those years.
Bought the Vette I'm fixing to keep for myself. Figured if I ever need to sell, it will always be worth something to someone. Doubt I will make any money since it wasn't cheap and I am too obsesive compulsive to take short cuts. But I think someone will always want a nice Corvette at the right price. Heck, according to the other poster, I could always part it and get all my money back.
Last edited by fendermender; Nov 28, 2011 at 09:37 AM.
Racer
Joined: Apr 2011
Posts: 459
Likes: 1
Like has been said before, if you have the tools and talent to fix it, and maintain it yourself, then go for it. Here is an example of what can be done with a salvage car. This is my personal car that I mostly DD, and bought salvage. It took me about 9 months to get street legal again. She is still a WIP, but getting very close to complete. I went this round because there were customization that I wanted, if I owned a corvette. These mods were way easier and cheaper to do without a payment, insurance, and removal of the original parts. I built the car how I wanted it the first time.
http://forums.corvetteforum.com/c5-g...post1579334764
http://forums.corvetteforum.com/c5-g...post1579334764
Last edited by Fixed; Nov 28, 2011 at 07:17 PM.
Lifetime Member
Joined: Dec 2002
Posts: 10,702
Likes: 76
From: New Jersey
St. Jude Donor '05, '12-'13, '15-'16, '21
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