. Salvage Titles

[CougarCJ]

Scott, here in Australia we actually have things called "expats". People who actually travel the world and end up living in a place where they were not born. Some are called "Americans"...

It is so nice for you to explain to the ferriners how things work in a place we only hear about on the wireless... :wink:

Two Boss 9's.

One stolen stripped of parts and dumped. Clean OEM metal, clean original paint, just missing parts. Salvage title in 1976. Dry storage since.

One rusted hulk pulled from the mud last week, missing the same parts. Owner has title.

Take both to the same restoration shop. Restore both to the same level, with the exact same parts/process. Document them fully.

Sell them. The salvage tile won't mean squat, and only an idiot would sell that one for less than the one with replaced metal.

Saying "a salvage title hurts value" is a simplistic one-size-fits-all answer. For a restored and driving/titled collectable (we're not talking a used Yugo here) it won't matter as long as the reason and restoration are disclosed.

The condition of the car and facts set the market value, not the wording on a piece of paper (to most intelligent buyers).

Starting a new on topic thread. :grin:

The above scenario is exactly why we have car specialty registries. Most of the registrars that I work with, make footnotes to all VIN's submitted. If the VIN with the rusted hulk is registered as such, it gets included. The one reported as stolen/recovered with a salvaged title gets that information included too.
Most include (or should include) the ownership chain, so-and-so sold it to so-an-so.

Another benefit of this VIN history: Suppose the engine or transmission from the stolen Boss9 comes to light. That VIN numbered engine could be submitted to the registry and either reunited with the current owner, or could be used as evidence to recover stolen property.

In Richard's example, when the 'restored' cars come up for sale, a prospective buyer can submit to which ever registry for a verification but should not divulge any owners personal information.

Many of these cars have histories that follow them in the various forums. Cars with known rebodies, cars with suspected rebodies, color changes, transmission changes, etc.

A few years ago there were several instances of extremely rusted / damaged Boss 302 front clips. These had titles, and the seller in both instances, offered to just mail the clipped VIN stamps, tags, and title. As I recall the Boss 302 forum was discussing the fact that those VIN's could only be restored as rebodied cars and the legality of VIN swapping. Those Boss 302 VIN's are forever in the Boss 302 registry as "Parted and Scrapped" or some other description. Hardly anyone in the Boss 302 world, will consider these cars anything but clones or rebodies.

Bad or questionable histories will hurt the value of these cars if prospective buyers do their due diligence. Smart money does their due diligence, caveat emptor.

 

[dalorzo_f]

You've changed the topic. :wink:

We were not talking front clips, or stolen cars, VIN tampering/fraud (federal crime) or a bad or questionable history... but the value of a car with a salvage title.

So on the title issue, not registries, how does that work in states like Masschussetts and Georgia, among others, that do not require a title??? :undecided

Or states the take the old title and destroy it, and reissue a new one?

So my point was the title issue is moot in most cases. As I stated, and your new points concur, its about "the car".

Agree 100% with buyer beware. Due diligence was exactly my point.

Value a car on what it IS, not what is says on a piece of paper.

Same price, the two cars in my example, I'll buy the salvage title... or both if I could afford them (or realistically even one!):tongue:

 

[CougarCJ]

Good for you, buy the salvaged titled car with the blemished history. Ignore the car history and pay full price for What it IS.
Just don't be surprised when you go to sell it, that people haven't forgotten the previous 'salvaged title'.

 

[BigJim]

Here's how it works in Illinois...

When a vehicle has suffered damage that would cost more to repair than the vehicle's market value, it may be declared salvage. It will be issued a salvage certificate of title ($4) and removed from the road―a salvage vehicle cannot be registered.

If a licensed rebuilder performs repairs on a salvage vehicle that bring it back to road-worthiness, the "salvage" branding on the title may be changed to "rebuilt." The vehicle may then be registered and used.


Inspections for Rebuilt Vehicles

Before this can happen, though, the vehicle must pass a safety inspection at an Illinois Department of Transportation (IDOT) Safety Testing Lane.

After that, vehicles 8 model years or newer must pass a salvage vehicle inspection. This inspection is performed by the Illinois State Police. It's not a safety inspection. Rather, the police are looking for signs that the vehicle (or any of its parts) was stolen.

You'll need to bring quite a bit of documentation with you to the salvage inspection station. A complete list is available in the informative Salvage Vehicle Inspections brochure.

In some cases, the inspectors will remove parts in order to access the vehicle's identification numbers. Generally, some or all of the following will be checked:

Public VIN
Transmission number
Body number
Federal stickers
Engine number
Frame number
Any mylar stickers

If any stolen parts are detected, they will be seized as evidence at the time of the inspection.

 

[GT/CS S Code]

"For Sale ... Boss 429 Mustang c/w VIN and salvage title ... needs some restoration work ..."

 

[GT/CS S Code]

Caveat Emptor!

 

[CALIF GIRL]

As a Deputy Sheriff, if I pull a car over and see it has a salvage title the traffic stop is going to take a while. I see a salvage title and I will do an investigation to determine if it is a stolen car.