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fwiw I bought a rebuilt title z07 2017 model 4500$ in alcantara upgrades shop added grand sport wheels over z06 I wanted and all the exterior side skirt front splitter winglets rear wing all stage 3 in c/f. 1 owner 14k miles I paid 60k 3 yrs ago. the pics were horrible the way the damage looked. but no frame damage(the d/s frame horn was replaced) but straight frame no firewall or a pillar damage. at 30k units produced it will never be a collector car I saved 10k off market price and my plans are to keep the car beat the snot out of it and have a blast building driving racing it.
for me it was a perfect solution and the car has been fantastic so far. any issues I had the shop fixed and its been on 3 road trips of 1500 miles plus in 3 yrs with zero issues. rebuilt can be an alternative IF you find the right car.
Do you need every obvious fact to be mentioned? Obviously the buy in is, and should be, much lower. Would you buy that car knowing after seeing that bunch of pictures of what it went through for say 10% off? 20%? What would make you buy it other than to strip it down for parts or maybe just an autocross only car?
Yes. If it is damaged body panels. You slap on salvage panels and the color matches, I got no problem. What the pictures show won't buff out anytime soon.
It would appear the obvious facts need to be mentioned when people constantly bring up the resale value of a salvage title vehicle.
fwiw I bought a rebuilt title z07 2017 model 4500$ in alcantara upgrades shop added grand sport wheels over z06 I wanted and all the exterior side skirt front splitter winglets rear wing all stage 3 in c/f. 1 owner 14k miles I paid 60k 3 yrs ago. the pics were horrible the way the damage looked. but no frame damage(the d/s frame horn was replaced) but straight frame no firewall or a pillar damage. at 30k units produced it will never be a collector car I saved 10k off market price and my plans are to keep the car beat the snot out of it and have a blast building driving racing it.
for me it was a perfect solution and the car has been fantastic so far. any issues I had the shop fixed and its been on 3 road trips of 1500 miles plus in 3 yrs with zero issues. rebuilt can be an alternative IF you find the right car.
I had a great experience with a rebuilt WRX with only 10k miles on it. I paid $16k for a car worth $24k. Drove it two years and the only thing wrong was a suspension bushing which cost $50 to fix. Then sold it for $16k.
I'd do it again, assuming the car was something I could do major repairs myself as the warranty was null and void.
The key is to get it for a low enough price that the lowered resale price isn't an issue.
I've heard getting full insurance coverage with a salvage title can be troublesome. Has any one had that experience?
nope I currently have replacement value coverage thru Erie insurance , State Farm before that. and my credit union loaned 75% of the current retail value at the time I purchased it
nope I currently have replacement value coverage thru Erie insurance , State Farm before that. and my credit union loaned 75% of the current retail value at the time I purchased it
Don't know. Might be the state? Brief Ai search says salvage, no. Rebuilt, yes but with certain conditions according to Progressive.
In Wisconsin, you buy a salvage title vehicle, repair it, have it inspected by the state and receive back a rebuilt title. For the inspection process, you have to show receipts where every replacement part came from, including the VIN of the donor car (If it came off another car). Some banks will not issue a loan on a rebuilt title, most credit unions will. Some insurance companies will not insure it, some will.
In Wisconsin, you buy a salvage title vehicle, repair it, have it inspected by the state and receive back a rebuilt title. For the inspection process, you have to show receipts where every replacement part came from, including the VIN of the donor car (If it came off another car). Some banks will not issue a loan on a rebuilt title, most credit unions will. Some insurance companies will not insure it, some will.
You know this, how? I think I know someone who might be wanting to do this. So what's the insurance like? Assuming they'll insure it? Higher, lower (since it is worth less than a non salvage car) or the same? Who will insure it?
Correct. However, it's still at my discretion as to how much involved I want to get with you or if I even want to.
I have no idea what this isn supposed to mean
Originally Posted by aklim
You know this, how? I think I know someone who might be wanting to do this. So what's the insurance like? Assuming they'll insure it? Higher, lower (since it is worth less than a non salvage car) or the same? Who will insure it?
the post above this is exactly how my car was titled rebuilt. Michigan state inspected insurance is the same as any clean title car. as I said earlier mine is fully insured for replacement value with Erie insurance currently its 800$ a yr. Erie and State Farm insured my car zero issues. in Michigan where I purchased my car you had to be a certified repair shop to go from a salvage to rebuilt. cant speak for any other state.
An "*** for every seat" sorta thing goin on here it seams... We know there are different levels of Corvette ownership and types... certainly apparent reading here.. Most of us wouldn't toach that C7 except as a low dallar gamble.... Challenge that it appears... we are grateful that there are those of us Corvette types who care enough to love em and fix em!... Poor sick C7. 😒
the post above this is exactly how my car was titled rebuilt. Michigan state inspected insurance is the same as any clean title car. as I said earlier mine is fully insured for replacement value with Erie insurance currently its 800$ a yr. Erie and State Farm insured my car zero issues. in Michigan where I purchased my car you had to be a certified repair shop to go from a salvage to rebuilt. cant speak for any other state.
While the insurance company can insure the "rebuilt" car, they might no want to insure it. If they do, it is up to them how involved they want to get.
How are the rates of such a car vs if it did not have a rebuilt title?
An "*** for every seat" sorta thing goin on here it seams... We know there are different levels of Corvette ownership and types... certainly apparent reading here.. Most of us wouldn't toach that C7 except as a low dallar gamble.... Challenge that it appears... we are grateful that there are those of us Corvette types who care enough to love em and fix em!... Poor sick C7. 😒
Who fixes the car up for resale doesn't make any difference to me. As long it isn’t something you can "wash the title" and sell it as though nothing happened, I'm good. TBH, I just don't want to be on the receiving end of a car with a washed title thinking it's not rebuilt.
While the insurance company can insure the "rebuilt" car, they might no want to insure it. If they do, it is up to them how involved they want to get.
How are the rates of such a car vs if it did not have a rebuilt title?
full coverage is full coverage. replacement value cant get much more involved. only c7 I owned but my clean title c6 zr1 was about the same cost yrly. neither ins company I used said anything about not wanting to insure it it was give them the details and pay the fee
full coverage is full coverage. replacement value cant get much more involved. only c7 I owned but my clean title c6 zr1 was about the same cost yrly. neither ins company I used said anything about not wanting to insure it it was give them the details and pay the fee
So you are thinking that if they are willing to insure it, rebuilt or no rebuilt on the title won't alter the rates?
So you are thinking that if they are willing to insure it, rebuilt or no rebuilt on the title won't alter the rates?
honestly I have no idea. I can only tell you what I pay for c7 z07 car for a 63 yr old guy no driving issues and no wrecks. I have it under parade insurance 5k miles a yr since it's my weekend car. do you pay more than 800 a yr? I have no idea if that excessive or not. since its replacement value and I have documented close to 80k in the car with the purchase price im hoping its a decent rate
In Wisconsin, you buy a salvage title vehicle, repair it, have it inspected by the state and receive back a rebuilt title. For the inspection process, you have to show receipts where every replacement part came from, including the VIN of the donor car (If it came off another car). Some banks will not issue a loan on a rebuilt title, most credit unions will. Some insurance companies will not insure it, some will.
You know this, how? I think I know someone who might be wanting to do this. So what's the insurance like? Assuming they'll insure it? Higher, lower (since it is worth less than a non salvage car) or the same? Who will insure it?
WELL..... For starters I have a Wisconsin license to sell vehicles. I have also done this process about 4 dozen times for my previous employer. After the vehicle is repaired, the state inspector would come inspect the vehicle on the alignment rack, yes it needs an alignment regardless what the damage was. If we replace a hood and fender on the car, we had to show receipts of where those parts came from. Either another car we purchased at auction or Keystone, O'reilly's, Autozone, whatever... The state inspector, a Wisconsin State Trooper, would look over everything and sign off on it or tell you that more repairs need to made and need to reinspect. For example, he failed a vehicle one time because the 3rd brake light was out. If this is something your friend wants to do in his garage, he still can, but instead of the inspector coming to him, he will have to make an appointment and take the car to the inspection station. The reason they came to us was because we had at least 5 cars for him to inspect. Any other questions or thoughts, I'd be happy to help.