C5 Prior salvaged title
Thread Starter
4th Gear
Joined: May 2014
Posts: 4
Likes: 0
C5 Prior salvaged title
Hi, Im hoping somebody can shine some incite on a huge problem I have come across. I recently bought a 2000 from a guy in Iowa, the laws in Iowa don't require a title to be marked with prior salvaged if it is more then 10 years old, so the title was clean, didn't ever think anything of it, the car is beautiful! I bring it home to Minnesota and we have different laws for the title, they want to mark the title back to prior salvaged even though in Iowa it had a clean title. I feel like I got SCREWED! Does anyone know how much less a prior salvaged car is worth than normal, and if there is anything I can do?
Le Mans Master
Joined: May 2006
Posts: 5,814
Likes: 414
From: Pittsburgh suburbs Pa.
Hi, Im hoping somebody can shine some incite on a huge problem I have come across. I recently bought a 2000 from a guy in Iowa, the laws in Iowa don't require a title to be marked with prior salvaged if it is more then 10 years old, so the title was clean, didn't ever think anything of it, the car is beautiful! I bring it home to Minnesota and we have different laws for the title, they want to mark the title back to prior salvaged even though in Iowa it had a clean title. I feel like I got SCREWED! Does anyone know how much less a prior salvaged car is worth than normal, and if there is anything I can do?
Race Director
Joined: Jan 2008
Posts: 16,028
Likes: 170
From: oregon
you've taken a loss
there is no law saying you have to disclose a salvage title, it would only be fraud if it was clearly marked as a clean car and it wasn't, even then, as you say, their state law is different over 10 years. had you ran a carfax you would have found it. mileage tampering is the other big deal with these cars. it's not illegal to do on a car over 10 years old. texas is the only state i know of with a law against mileage tampering on cars over 10 years
salvage cars sell on average for 60-70% of going rate if they have been repaired correct
there's nothing you can do to make a long story short, enjoy the car and never buy car for more than $1000-2000 dollars without running a carfax
extremely large number of people who are selling used cars seem to be dishonest and or leave things out, you have to be on guard
there is no law saying you have to disclose a salvage title, it would only be fraud if it was clearly marked as a clean car and it wasn't, even then, as you say, their state law is different over 10 years. had you ran a carfax you would have found it. mileage tampering is the other big deal with these cars. it's not illegal to do on a car over 10 years old. texas is the only state i know of with a law against mileage tampering on cars over 10 years
salvage cars sell on average for 60-70% of going rate if they have been repaired correct
there's nothing you can do to make a long story short, enjoy the car and never buy car for more than $1000-2000 dollars without running a carfax
extremely large number of people who are selling used cars seem to be dishonest and or leave things out, you have to be on guard
Last edited by racebum; May 26, 2014 at 10:02 PM.
Instructor
Joined: Jun 2007
Posts: 179
Likes: 0
From: Guntersville Alabama
I do not believe there was any Fraud in this case. It would seem that the laws in Iowa got you on this one. In reality there is probably not a thing that can be done. Hopefully it will be a lesson learned.
Roland
Roland
Pro
Joined: Jul 2010
Posts: 666
Likes: 2
From: western springs illinois
Hi, Im hoping somebody can shine some incite on a huge problem I have come across. I recently bought a 2000 from a guy in Iowa, the laws in Iowa don't require a title to be marked with prior salvaged if it is more then 10 years old, so the title was clean, didn't ever think anything of it, the car is beautiful! I bring it home to Minnesota and we have different laws for the title, they want to mark the title back to prior salvaged even though in Iowa it had a clean title. I feel like I got SCREWED! Does anyone know how much less a prior salvaged car is worth than normal, and if there is anything I can do?
No 10 year rule?
Complaints
http://www.iowadot.gov/mvd/omve/complaint.htm
If a deal is too good then it is
Melting Slicks
Joined: Apr 2009
Posts: 2,479
Likes: 36
Ah dude, you should have had it checked! I can't stress that enough. Even if Carfax is clean, you need to always have it inspected. Yes, it is definitely worth a lot less. I'd go as high as 50% less. These cars are not made like most cars because of the bonded body glass-fiber/plastic panels and delicate electronics. A lot can go wrong with a salvage title especially when you don't know what the previous damage was.
Personally, I would do everything possible to get my money back. Best of luck to you!
Personally, I would do everything possible to get my money back. Best of luck to you!
Race Director
Joined: Dec 2000
Posts: 19,304
Likes: 85
From: San Diego CA
Based upon what I've seen, salvage cars are typically worth 50-70% of what a non-salvage vehicle is worth. The good news is that many are repaired well and most people can't tell by driving one. If you are planning to keep the car until it's worth a few thousand dollars, the fact that its title is stamped salvage means little. If everything works, the alignment is good, and the body panels and paint look good, it may only the name "salvage" that bothers you. My MX5 is a salvaged car, but it doesn't bother me at all.
Last edited by Dave68; May 27, 2014 at 11:44 AM.
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Melting Slicks
Joined: Feb 2009
Posts: 2,857
Likes: 234
From: SW Nuh Hampsha
2018 C5 of Year Finalist
I don't know the answer to your dilemma, but if the prior owner doesn't do anything for you compensation-wise, you may have to seek an attorney's advice on this one. Just out of curiosity, how did Minnesota know that your car was salvaged if the title was clean?
Race Director
Joined: Jan 2008
Posts: 16,028
Likes: 170
From: oregon
if i was the OP i would look into why the car was salvaged.
Melting Slicks
Joined: Feb 2009
Posts: 2,857
Likes: 234
From: SW Nuh Hampsha
2018 C5 of Year Finalist
Thanks, RB, I didn't know those crafty devils at the DMV would actually search out histories. And your point about the extent of the damage is probably the most important one. 
Pro
Joined: Jan 2010
Posts: 669
Likes: 13
I'm in the twin cities and would be happy to look over the car with you to figure out what was damaged and how it was fixed. I have a fairly decent background with bodywork and have 2 salvage-branded C5's, I can pick out repaired area's pretty quick.