?'s For Car Sales Pro's

[mustangman2011]

How much value does a car normally lose with a Salvage title? Edited August 30, 2013 by mustangman2011

[TimTaylor751647545500]

Depends on if you're trading it in or selling to a private party. If you're trading in, it will impact the value/offer of the car pretty well.

[2highpsi]

  mustangman2011 said:

How much value does a car normally use with a Salvage title?

 

If I am appraising a Salvage title vehicle the general rule of thumb is 1/2 the clean title value.

 

There are circumstances where it is slightly higher or lower though.

[STEVE-O]

I agree half it

[miller11386]

1/2 clean value unless its something highly desirable.. then its just a tad over half clean value lol

[Not Brian]

I multiply the clean title value by zero.

[Drewhop]

  2highpsi said:

If I am appraising a Salvage title vehicle the general rule of thumb is 1/2 the clean title value.

 

There are circumstances where it is slightly higher or lower though.

 

This

[El Karacho1647545492]

  Not Brian said:

I multiply the clean title value by zero.

 

This.

 

From a business standpoint, it's a risky venture getting into a vehicle with a salvage title. You're putting your company name behind every car you sell, so a lot of guys will just call up a wholesaler to see what they'd buy it for and pass that number along to the customer. We have 0 interest in salvage title cars.

[mustangman2011]

Ok thanks for the info. A friend had bought some cars to flip. Two of them were salvaged but when he bought them they only had minor front end damage. He said wherever he bought them from wouldnt give him the history why they were Salvaged. Why would a insurance company Salvage a almost brand new car with hardly any damage?

[russian rocket]

  mustangman2011 said:

Why would a insurance company Salvage a almost brand new car with hardly any damage?

 

cost of repairs (including labor, transportation, new parts, ect..) exceed their value to repair threshold. if i remember correctly, its usually around 60-70% in ohio. meaning if all expenses add up to 60-70% of the cars value, they will more than likely total it

[Browning]

I will not buy a vehicle with a rebuilt title that is more than $1000. Treat them as beaters you plan to drive until it needs scrapped and you have no worries.

[IVRINGS]

Newer cars don't have many out in yards yet so body panels are dealer only and that can total a car fast if you start to add them up.

[El Karacho1647545492]

  mustangman2011 said:

Ok thanks for the info. A friend had bought some cars to flip. Two of them were salvaged but when he bought them they only had minor front end damage. He said wherever he bought them from wouldnt give him the history why they were Salvaged. Why would a insurance company Salvage a almost brand new car with hardly any damage?

 

Could be that there was more than just front end. I've seen instances where minor front end damage broke motor mounts and caused major drivetrain issues.

 

Was it that the previous seller WOULDN'T provide history, or COULDN'T. Big difference. I wouldn't buy from anyone who would stonewall me on the history of a car for any reason other than it's not accessible.

 

GL to your friend, make sure he makes it clear to anyone that buys the car from him that the cars are salvage title and being sold AS IS in a bill of sale to keep him safe.

[Jewtoys]

Banks usually won't loan on a salvage title car, so it may be a tough sale if it's worth a fair amount

[BBQdDude]

Can't you, once "rebuilt" apply for a "regular" title though?

[Mitch]

I don't believe so. Once the vehicle is declared a total loss by insurance, the brand stays on the title. Here's what I found from the BMV's website, this may be what you were thinking of.

 

  Quote

First apply for a salvage title in your name changing the status of your title from regular to salvage. (NOTE: The vehicle cannot be operated on the road while evidenced on a salvage title.) Upon completion of the repairs, contact the closest Highway Patrol Inspection Station and make an appointment to have a salvage inspection done (There is a $50 fee.). Take any receipts for repairs and new parts with you to the inspection. After the vehicle has successfully completed the inspection, take Form HP106 and your salvage title and proceed to any Title Office and apply for a "rebuilt salvage" title. After all of these steps have been completed, the vehicle is now operable for use on any road.