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Salvage Title- to buy or not to buy
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dcmcglor
Anonymous Poster
dcmcglor@edisto.cofc.edu
Aug 3, 2009, 4:13 PM
Post #1 of 5
(3815 views)
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Salvage Title- to buy or not to buy
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I am looking to get a Honda CRV. I found one for sale that has a salvage title. It is a 2000 CRV with 88,000 miles on it. Here is the sellers description of the repairs done to the car after buying it from an insurance auction
"This car had a salvage title. The car had minor front damage, the right front suspension and right front tire was replaced. Parts that were damaged right front strut, right front spindle (knuckle). The car was aligned by the Goodyear shop. All parts are dealer items, and there are no affects visually or mechanical."
What potential problems could this kind of damage have down the road? He is selling it for 60% of the kbb value. Either I can buy this crv with a salvage title or a 97 crv with 145,000 miles for a similiar price with a clean title. What would be the better decision?
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Hammer Time
Ultimate Carjunky
/ Moderator
Aug 3, 2009, 9:01 PM
Post #2 of 5
(3811 views)
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Re: Salvage Title- to buy or not to buy
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Do you understand what a salvage title is?
In most states it means the car can be sold for parts only and cannot be registered. It means the car has been totaled by an insurance company and wasn't intended to see the highway ever again.
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We offer help in answering questions, clarifying things or giving advice but we are not a substitute for an on-site inspection by a professional.
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Tom Greenleaf
Ultimate Carjunky
/ Moderator
Aug 4, 2009, 4:38 PM
Post #3 of 5
(3803 views)
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Re: Salvage Title- to buy or not to buy
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Here I believe it mean the cars damage and residual core parts value was in excess of it's value and rendered "salvage" such that a sale of such is AYOR and the auto maker has no more responsibility about recalls or much of anything to do with it. As said - it was a parts car. If repaired the value remains low.
What I believe needs to be done to use and register legally is a new VIN # is issued and it still will need to meet all state (harsh here in Mass) safety and emission standards.
If you are still interested I suggest having the car thoroughly inspected pre purchase by an independent shop for evidence of any non professional repair work.
Ask your insurance co and find out if it's all set if you proceed with this car and check with your DMV if there are special snags you may have to go thru.
Just be careful and bid low on a car like that and brace for something unseen,
T
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Sidom
Veteran
/ Moderator
Aug 6, 2009, 1:26 PM
Post #5 of 5
(3784 views)
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Re: Salvage Title- to buy or not to buy
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I'll just toss in my 2ยข for what it's worth. I don't buy or sell much but my buddy at work does a lot. He's had a few with salvaged titles. The only thing he had to do to get it register was to get an inspection from a Brake, lamp & smog shop. I guess CA only cares about the car being able to stop, the driver being able to signal he's going in the ditch & the car to have a clean tailpipe while doing the other 2.
The one thing we didn't know is, you can't have full coverage insurance on a car with a salvaged title, liability only. He had one that he was driving and had FULL coverage on it for 6 months. He went in to add another and that's when they found the mistake & informed him of this and they did credit the differance bewteen full & liability to his bill since they shouldn't have been charging him for those 6 months...........
The thing with some "totals" the amount of damage is rediculous. My daughter got in a accident with an older Sentra doing 10 MPH & hit a stopped car and the car was totaled. The only damage I saw was a bent fender & broken grill but the car was so old & value so low, they totaled it..............
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