Quick question about salvage title

Pitch Black · Nov 13, 2004

I have a friend who has come to me asking for info regarding a car he's interested in. Apparantly its a 2001 GT that was in a pretty good accident. The car's been repaired and is in mint condition (new seats, pass. door, fenders etc.). They are asking $10K for a basically clean low-milage 01 GT but it has a salvage title. What the heck does that mean? Good idea or not?

gforcejunkie · Nov 13, 2004

Pitch Black said:
I have a friend who has come to me asking for info regarding a car he's interested in. Apparantly its a 2001 GT that was in a pretty good accident. The car's been repaired and is in mint condition (new seats, pass. door, fenders etc.). They are asking $10K for a basically clean low-milage 01 GT but it has a salvage title. What the heck does that mean? Good idea or not?

I'm no expert and this only applies to the state of Texas.
Assuming the car is in good condition and the frame isn't bent or anything,
you have to apply for a reconditioned title.
There's a form to fill out (download from internet), provide receipts and get an inspection sticker.
Not too hard. A friend of mine did it for a salvage title motorcycle he bought on ebay.
The only downside is that a bank/savings & loan/credit union won't
loan much $ for a salvage or reconditioned title.
Other than that he might take a hit on resale value.

GTn00b · Nov 13, 2004

in missouri when you have a salvage title you have to have it inspected by the state troopers, then a normal inspection, then you send papers to the state and 6 to 8 weeks later you get your title, my buddy bought a 95 5.0 that was a salvage title, bought it for 2800 and needed a new front end.

tomustang · Nov 13, 2004

Pitch Black said:
I have a friend who has come to me asking for info regarding a car he's interested in. Apparantly its a 2001 GT that was in a pretty good accident. The car's been repaired and is in mint condition (new seats, pass. door, fenders etc.). They are asking $10K for a basically clean low-milage 01 GT but it has a salvage title. What the heck does that mean? Good idea or not?

the salvage title means it was basically totaled, R title is what it's classified as ex: reconstructed, water damaged, seized, totaled and so on.

that's WAY too high of a price to ask for a salvaged title. remember that the title of the car holds the value of it. i wouldn't take it for more than 8 grand. the title is what it's worth.

also under the salvaged title, any warranty by ford is void. and of course whatever problems that occur in the chassis (dented frame) cause of the damage will remain there

stang9gt · Nov 14, 2004

GTn00b said:
in missouri when you have a salvage title you have to have it inspected by the state troopers, then a normal inspection, then you send papers to the state and 6 to 8 weeks later you get your title, my buddy bought a 95 5.0 that was a salvage title, bought it for 2800 and needed a new front end.

My last stang was a salvage title car and I will never buy another. The state finds ways to screw you and it took me almost a year to finally get the Reconstructed title for mine. It was rediculous. You have to send in pics of the car fixed from every angle, then wait 6 weeks to get a reply. There is no way to talk to anybody about progress, they fail it and you have to wait another 6 weeks and keep doing it.

Pitch Black · Nov 14, 2004

Damn. I'll pass on the info. Thanks guys

Go HoTO! · Nov 14, 2004

One of my best friends family's has a shop that specializes in putting together cars that have been in accidents, stollen, etc... and selling. Most have R titles.

There are some things to keep in mind when buying a car like this:

1 - How bad was it actuallly damaged? A $5,000 car does not need to be hit very badly to get an R Title. While a brand new BMW might have had $40k worth of work done on it.

2 - Any car on a used car lot could have been in an accident...a very bad accident, still have a good title and not show up on any reports. My friend Vic had a 2001 Cherokee. It was hit to the tune of $21,000 worth of damage. Insurance gave him a check and he had it fixed on his own and traded it in an a new car. Clean title, no car fax data showed up when I ran it three weeks after someone else bought it.

3 - Do you know the person that did the work?

4 - Pay no more than 80% of the loan value for the car. If you pay the right price, an R title car can be a good buy.

5 - If you keep your cars a long time, then an R Title is a good way to go.

I setup my wife's g/f with a car from my friend's shop. 6,000 original miles. Two door Alero and it's an '03. Car was hit in the front hard. Since it was leased, they did not give it an R Title. THIS HAPPENS ALL THE TIME WITH LEASED CARS. Car still has original warrently on it. Car is fixed and sold for only $7,000.

tomustang · Nov 14, 2004

there's a mustang shop up in dover (near harrisburg) umm... bill fox auto sales i believe. good guy

urban96 · Nov 14, 2004

no more then 7,500-8,000

codyGT · Nov 14, 2004

My 1993 Cavalier Z24 is a Previous Salvage vehicle. It booked at $3,200 I paid $1,200 for it. I have put 40,000 miles on it since Oct of 2003 so it was worth it.

There are alot of Camaro / Mustang rebuilders around here. People always seem to want to much for these things too. I have even heard the really dumb people state that " It is better then new " yeah sure.

No matter what after you buy one keep it. It will be of little value the second time around.

def1eppard · Nov 14, 2004

You always have to think....that will be on the title forever, so when you're trying to sell it, people are gonna see that its salvaged, and back away. The best thing to do is just back away and find something else you like. Same thing with lemons. Even if it is a REALLY nice car, it will be really hard to sell, or really hard to sell for a decent price.

Oh and when they say salvaged and its already been fixed, it probably has a rebuilt title. They're kinda used interchangeably.

NewbStang · Nov 14, 2004

My dad used to buy salvage cars and fix them...it used to be a good business when you were able to clear titles your self many years back...now only dealers can do that..(they can fix a totalled car have it inspected and get a clear title)

Having had many vehicles that were salvaged I would recommend buying them and fixing it yourself or a trusted mechanic...if someone else fixed it you dont know if they knew what they were doing...

My stang was salvage and whoever fixed it did a piss poor job..(they basically glued it together) anyway we had to put it on the machines and stretch it...however it worked out for me overall it cost me 12,000 for my 2003 GT with 3,000mi, all options w/ cobra wheels a and bumper

codyGT · Nov 14, 2004

I don't think any states allow a dealer to change the title ststus on a vehicle.

Do they?

I guess it is really up to who is buying the car. I wouldn't want a car that has been abused so I wouldn't want a 2001-2003 Mustang that has been totalled by an insurance company.

merc123 · Nov 14, 2004

Keep in mind that if a car is considered salvaged it COULD have been stolen.

NicksBullitt · Nov 14, 2004

Hope you got cash money because my bank would not loan me money on a 99 Cobra that was salvaged. They only wanted 11,000 for it and it had 22k miles. 10k for that gt is too much.

ChadS98GT · Nov 14, 2004

Yeah salvaged titled cars suck....I was sold one and didn't even know it!

Anyway salvaged cars are basically worth about half of whatever the KBB states.....so Whatever that is I wouldn't pay any more.....because you will kick yourself in the ass if you try and sell it in the future..

pookie · Nov 14, 2004

codyGT said:
I don't think any states allow a dealer to change the title ststus on a vehicle.

Do they?

I guess it is really up to who is buying the car. I wouldn't want a car that has been abused so I wouldn't want a 2001-2003 Mustang that has been totalled by an insurance company.

Check in Ohio, I dont live there ,but I might have been told that once.

Hammer1999Gt · Nov 16, 2004

Salvage cars are not always bad a few things to consider. How long do you plan on having the car if you plan on selling it within a year or two I would say no don't buy one. Buy one that is not fixed yet and get it done yourself. I wouldn't buy one already fixed.
I bought my car salvaged unfixed. I got a 99 GT Convertible for $7,000 and put $1600 in fixing it including a new paint job on the entire car. So for less than $9,000 I have a car that looks better than new with 60,000 miles. Salvage doesn't always mean bad damage. My car I drove home although illegal (didn't know at the time the guy told me it was fine). It was from California and wrecked in Michigan the inshurance company did't want to pay to have it sent back to Cali so they salvaged it.
If you are fixing it yourself mak sure you document everything all your parts you buy and take pictures. It makes the inspections go better. I had no problems with my inspection.

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