salvaged title + insurance...

Dmarstroker · Jul 19, 2008

Hi all, Im looking into getting a daily driver and Im a newbie when it comes to this type of stuff . If I were to buy a vehicle that had a salvaged title and I get full coverage insurance then say supposedly I "total" it, would insurance cover the price that I paid for the vehicle? Or would you think that would depend on my insurance company? Im just throwing these questions out there 1st before I call up my insurance company so I dont sound like an idiot. By my guess I would think a salvaged vehicle would only be worth a few thousand. Please help me out if you have any info or knowledge, thanks in advance.

jimfitzgerald · Jul 19, 2008

I don't know if they will even insure a salvaged auto, but the most they would pay is the current value of the car, regardless of what you paid. I would NEVER buy a salvaged auto.

theconductor · Jul 19, 2008

My first mustang was salvaged. I had no problems getting insurance. In fact it's probably cheaper since you will get reimbursed for less. I do not however, remember what I would have been awarded for a complete total.

If you are just going to dd the car, don't worry about the title. I sold mine for the same amount of money that I bought it for.

-kyle

Dmarstroker · Jul 19, 2008

ok thanks for the replys, now Im getting an idea of what to expect when I give them a call tomorrow...

SVT32VDOHC · Jul 19, 2008

My 96 Cobra is a salvage title, my 91 notch is a salvage title. I fixed both. I have no problems getting them insured.

I fixed a 99GT 35th anniversary conv for my bosses daughter in 2005. It had 62K on it, and a salvage title, because I bought it as a theft recovery. In 2006, she totalled it...(spun out backwards into a cement/brick mailbox.) No body shop would fix it. So the insurance company said the blue book was like 10 grand, but since it had a salvage title, they could only pay him 7,500. So he took it, then bought it back for like 4,500 or something cheap. I fixed it for him again, and he ended up making money anyways...Moral of this story, is he still got a good amount for a wrecked, already salvaged Mustang that was 7 years old.

P.S. People who wouldn't buy a salvage title.....let me tell you something. I have mad many Mustangs that I bought wrecked, that still had clear titles. I fixed them right, drove them for a year, then resold them. Carfax said nothing about any previous damage or history. So even clear title cars, you still have too look them over good.

Mr. Rustypwnz · Jul 19, 2008

yep same way with my vert right now!!

Dmarstroker · Jul 19, 2008

SVT32VDOHC said:
My 96 Cobra is a salvage title, my 91 notch is a salvage title. I fixed both. I have no problems getting them insured.

I fixed a 99GT 35th anniversary conv for my bosses daughter in 2005. It had 62K on it, and a salvage title, because I bought it as a theft recovery. In 2006, she totalled it...(spun out backwards into a cement/brick mailbox.) No body shop would fix it. So the insurance company said the blue book was like 10 grand, but since it had a salvage title, they could only pay him 7,500. So he took it, then bought it back for like 4,500 or something cheap. I fixed it for him again, and he ended up making money anyways...Moral of this story, is he still got a good amount for a wrecked, already salvaged Mustang that was 7 years old.

P.S. People who wouldn't buy a salvage title.....let me tell you something. I have mad many Mustangs that I bought wrecked, that still had clear titles. I fixed them right, drove them for a year, then resold them. Carfax said nothing about any previous damage or history. So even clear title cars, you still have too look them over good.

Freakin sweet now I dont feel pressured into getting a "clear title" only car. Thanks for posting in this thread, I appreciate the input

SVT32VDOHC · Jul 19, 2008

Anytime

jimfitzgerald · Jul 19, 2008

SVT32VDOHC said:
P.S. People who wouldn't buy a salvage title.....let me tell you something. I have mad many Mustangs that I bought wrecked, that still had clear titles. I fixed them right, drove them for a year, then resold them. Carfax said nothing about any previous damage or history. So even clear title cars, you still have too look them over good.

That has absolutely nothing to do with buying a car with a salvage title. Obviously, any used car could have been wrecked. That's why it's "buyer beware."

SVT32VDOHC · Jul 19, 2008

I understand that, but I love people who say, I will never buy a salvaged title car. So they go and buy a clear title car that could have been wrecked in the past anyways.

1991vert · Jul 19, 2008

SVT32VDOHC said:
I understand that, but I love people who say, I will never buy a salvaged title car. So they go and buy a clear title car that could have been wrecked in the past anyways.

that's how my car was..."clear title, never been in an accident! original paint!" yadda yadda yadda. people started recognizing the car and knew the previous owner. one said he hit a fire hydrant with it and had a whole new front end put on it. - i dont know how much of this is true. everything still had vin #'s and no radiator supp. damage. then another guy asked me if this was so and so's old car and he told me he kicked in the fender on it because he was talking trash to him. then there was clearcoat on the pass. side door. only panel on the car where there was clearcoat. these cars came with a 1 stage paint. then my friend SWEARS he saw it in a scrap book from a local bodyshop.

anyways, you never know. a lot of people lie. i could really care less though. the car looked mint when i bought it.

SVT32VDOHC · Jul 19, 2008

MY point exactly. It doesn't really matter.

My 91 Salvage Title.

MY 81 Clear Title.

After. Does it really matter what color the title is????

iwashmycar · Jul 19, 2008

1991vert said:
that's how my car was..."clear title, never been in an accident! original paint!" yadda yadda yadda. people started recognizing the car and knew the previous owner. one said he hit a fire hydrant with it and had a whole new front end put on it. - i dont know how much of this is true. everything still had vin #'s and no radiator supp. damage. then another guy asked me if this was so and so's old car and he told me he kicked in the fender on it because he was talking trash to him. then there was clearcoat on the pass. side door. only panel on the car where there was clearcoat. these cars came with a 1 stage paint. then my friend SWEARS he saw it in a scrap book from a local bodyshop.

anyways, you never know. a lot of people lie. i could really care less though. the car looked mint when i bought it.

SAAAME here. Except mine was supposedly some sort of road sign... It has a new fender on it so thats a dead giveaway, but it too was mint so i had to have it

Fett · Jul 19, 2008

RedFoxGT said:
It does when you resell it.

Not really, unless you are comparing it to an untouched 5.0. I would be willing to bet that a salvaged 2.3 conversion coupe wouldn't sell for much less than an original 5.0 coupe with similar modifications.

SVT32VDOHC · Jul 20, 2008

RedFoxGT said:
It does when you resell it.

Not a fox body.

Fett said:
Not really, unless you are comparing it to an untouched 5.0. I would be willing to bet that a salvaged 2.3 conversion coupe wouldn't sell for much less than an original 5.0 coupe with similar modifications.

I thought what RedFox said would be true....but I have a 9 picture before/after poster of my car framed at work. People are always staring at it, then must ask 10 questions. They ask what's done, is it for sale, do I still have it, how much, what year. They always flip out over the car. If it's parked out in the lot, people pull over to look for a for sale sign, then they drive off when they don't see one... I have told everybody that it's a 4cyl title, salvage title. They look at me and say "So what, it's clean." So, with that in mind, I don't think it will affect the sale at all. Foxes are rare around here. You don't ever see them on the road.

Shakerhood · Jul 21, 2008

I was looking at a wrecked Focus to fix and use as a DD but it has a Salvage Title and its too much of a PITA having to take it to the State Police for inspection after its fixed.

jrichker · Jul 21, 2008

The salvage title laws vary from state to state. When my 89 GT was totaled, I bought it back for about $140.
The insurance people told me they would not insure the car because Florida law forbids it. Even if I rebuilt the
car to factory new, they still would not insure it. I could only sell it for parts or use it for parts.
It actully said that on the replacement title I got when I bought the car back from them.

rj95svt · Jul 22, 2008

My 95 cobra has a salvaged title and it still has every factory ford body panel that it came with from the factory. The car has never even been wrecked or had any body damage. It had a small underhood fire that didn't even burn the paint on the hood. The engine wiring harness and fuel lines were the only things damaged in the fire. I've seen cars with a dent the size of my fist in the door that were totaled by an insurance company and I've seen cars with clean titles that have had much worse damage than should be fixed on any car.

The odd thing about my car was that when I got the title transfered my title doesn't say that it is a salvaged title.

SVT32VDOHC · Jul 22, 2008

You know the sad thing? Crooks here in Michigan are fixing salvage and scrap title cars, and retitling them down in KY and other states. By doing this in certain states, the title comes back clear!!! That's a felony and I hope they start cracking down on these people.

Stang2Man · Jul 22, 2008

I can tell you for a fact that Kentucky and Ohio both will put rebuilt or rebuilt salvage on the title my 92 GT was in Kentucky when I bought then I transferred it to Ohio. Have since moved to Tennessee. BTW, best I can tell Tn doesn't require stringent inspections on rebuilt vehicles like Ohio and Kentucky do. Don't know how other states do, but Ohio requires listing of all VIN numbers that replacement parts came from, and they inspect in only a few places in the state.

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