What's the deal with Salvage/Rebuilt Titles?

[Geeto67]

Hey all,

 

So coming from NY I've never really played with cars that had "salvage" or rebuilt titles because there was never any way to register them and actually drive them.

 

But I have noticed that there are plenty of people driving salvage/rebuilt vehicles, or at least there seems to be a ton of cars on craigslist with tags and unclean titles. So what's the story? how much more is insurance? will I need some wonky insurance brand instead of Geico who I have been with for years? Any special hoops to jump through with registration?

 

The reason I ask is I was scoping out for a winter beater so I could take my daily driver jeep off the road and tend to some longer term service items that the truck needs (like welding in a floor pan). I have always wanted a manual trans BMW wagon (I've owned two e34's before and enough bmws that if I needed to fix one on the side of the road to get home I could) and I found one with a manual trans swap for a price that if it caught fire tomorrow I would probably be sad and pissed for all of about 10 minutes before hitting CL for another car. It's even a rare color that I like. The issue is that the title was branded as salvage two owners ago and I don't really want to drop what could otherwise be a good weekend at the beach on a car that I can't actually drive. I'm a mid 30's dude with a completely clean driving record and two non salvage cars on my policy already so it would just be an addition to my regular insurance (normally a third car is cheap to add).

 

So any advice?

[2 Sweet]

I bought my '92 Camaro in 2005 with a salvage title because it had damage to the bumpers, door, and fender from a minor accident. 100% legal to drive after inspection, which was mandatory after the previous owner wrecked and "totaled" it out. The biggest downside to a salvage is resale value which I didn't give a shit about because I barely paid anything for the car. Insurance doesn't cost any more than a car with a clear title. Nine years later and now over 240k miles, the car still runs strong.

 

In summary, if it's a super cheap beater you don't invest a lot in, don't be scared off just because it's a salvage title

[El Karacho1647545492]

A friend of mine has a salvage-titled Supra and she's having a bitch of a time registering it because where she got it (SC where she lived at the time) rules are different, and she doesn't have any receipts for the work performed to make it roadworthy again.

 

There will always be wonky hoops to jump through depending on the situation. I would never touch anything with frame damage, but cases where the repair cost of non-safety components > value and that's how it became "salvage" is no big deal.

[Geeto67]

yeah 1990s e34 bmws have been cheap for a while now so that even a minor fender bender would "total" the car. I'm trying to read up on salvage titles and there seems to be a difference between a salvage title and a "rebuilt" salvage title. as far as I can tell If the car is salvage titled then it has not been inspected and you need to show receipts for the work performed, if it is rebuilt salvage then the inspection has been performed and the car is ready to be registered like any other. The BMV's site has been helpful in this distinction but it doesn't say whether the car has to be re-inspected every time ownership transfers or once it is "rebuilt" it is like any other title.

[2 Sweet]

I would never touch anything with frame damage, but cases where the repair cost of non-safety components > value and that's how it became "salvage" is no big deal.

 

^ Yep

 

The BMV's site has been helpful in this distinction but it doesn't say whether the car has to be re-inspected every time ownership transfers or once it is "rebuilt" it is like any other title.

 

Inspection is just a one-time deal, once they give it the green light during the initial inspection, you're good to go. No more inspections no matter how many times the car changes owners after that

[Mark1647545493]

The BMV's site has been helpful in this distinction but it doesn't say whether the car has to be re-inspected every time ownership transfers or once it is "rebuilt" it is like any other title.

 

 

Only needs inspected once. I had my 87 Thunderbird inspected after a deer hit to the front. As long as you have proof of ownership for the major parts on the car at the time of inspection the car will pass then the car is issued a "rebuilt" title.

[Darkside]

Insurance is the same, I've had numerous rebuilt titles insured with State Farm. Some banks get goofy with loans but I never had any issues with credit unions. I've owned three rebuilt title vehicles so far, 2 were accident related with no frame damage and the other was a theft recovery.

[Second Gen]

I've had three salvage titles and two of the three were a real pain. One the damage was evident and easily fixed. The other two were a pita:

 

2000 Civic - Airbag issues in the cost of 2400 (Still did not trust it). Sold

 

2008 Scion TC - Hidden damage that showed up after a minor fender bender. Ended up getting a body shop to replace everything in front of the firwall to be safe (3k plus). Car is great now, but could have bought a clear titled car cheaper.

 

1999 Miata - Knew it was hit in the rear quarter and the rear pumpkin was damaged. Tig'ed the pumpkin and did a partial quarter (Painted). Was a fun car and did OK in the purchase * reesale.