Salvage Titles

[deck]

Got my hopes up on a couple of cars only to find they've had salvage titles at some point in their history (both seem to have clear titles now).

Being somewhat new to the early 911 game, I have a few questions. First, and most importantly, would you consider a salvaged car (I know why one was salvaged - relatively minor accident)? If so, how much do you feel it should affect the price/value?

The work since the accident has been performed by a respectable shop, so the quality of the car is there, just not the clean history.

Also, being that it can be difficult to run reports on theses older cars, I found this great site (no affiliation) and thought I'd share:
https://www.nicb.org/theft_and_fraud_awareness/vincheck

Thanks for any help.

[Eminence Gris]

The older a vehicle is, the less a salvage title matters. But it never *doesn't matter.* For a '70s car with salvage title, matching numbers and no visible repairs, I'd say -10%.

[Surf65]

Deck,

This is the perfect forum to get some really great opinions. I relied heavily on this forum and had been researching cars for about 9 months. There are some highly knowledgeable people here who can weigh in but I would start off by asking what are you looking for and what is your budget?

Obviously, a salvage title P-car will never sell for what an "A" title with matching numbers is going to trade for. There are some all original excellent cars that are worth over $70k.

Does this car have matching numbers if so then perhaps as much as the high $20's if everything else is in really good condition: no to very little rust, a solid paint job, interior and engine.

Consider a PPI prior to making a decision if possible so that someone that knows these cars can check the frame closely among other things. How much work is visibly needed on the car? Keep in mind, these cars are very expensive to work on and little repairs can add up quickly where the amount put in to your vehicle will never be recouped...I was the buyer of a car that was almost restored to a decent level but the prior owner got completely buried, north of a 50% loss. You don't want to be that seller. If the work has already been done and you can bid low I would consider it as these cars are very fun to drive...you will eventually want to drive fast so that's what is perhaps a little scary about a salvage title in a very light car that has had frame damage.

Salvage non matching -7k to teens.
Salvage, matching in good condition - high 20's.

Let's hear what others think....

Cheers, Matt

[dave29]

Just something to throw out there....a theft vehicle can also be considered a salvage car.

[Macroni]

IMO, If the car is in excellent knit, the title is of no consequence. Salvage titles need to be weigh against the results of a PPI. A car restored by a top shop w/ an excellent PPI will out weigh its original title.

[sithot]

Uh, just one more thing…. (Columbo)

http://www.carinsurance.com/kb/content26568.aspx

Q&A

If I purchase a car with a 'rebuilt' title from a dealer, and the car is involved in an accident and 'totaled' does the insurance company pay a lesser value on the claim compared to a car that doesn't have a 'rebuilt' title? Is the insurance rate lesser on rebuilt auto titles?

You may have a hard time finding someone to insure your vehicle for physical damage, which is the only coverage your question relates. Try a quote with us through Progressive.

Many insurance companies will not insure vehicles with 'rebuilt' or 'salvage' on the title. If you find a company who will insure it for comprehensive and collision coverages, if your vehicle is "totaled" in an accident. I believe they will pay a lesser value than a vehicle that does not have "rebuilt" or "salvage" on the title. This is the reason most insurance companies won't insure these vehicles. You may be able to get a classic car insurance company to give you insurance for a "stated amount."

If it is not a stated value policy, the insurance company will pay the vehicle's "actual cash value" (minus the deductible you choose). This takes the vehicle's depreciation into account.

You can obtain an auto insurance quote for a collector car with our partner Safeco and our partner Progressive will write a policy with a salvage title.


__________________________________________________ ____________________

My turn.

Here is my conversation with Hagerty.

I'm curious as to whether or not Hagerty would underwrite a collector car with a salvage title?

Hagerty: We can certainly consider it, but the car must be back and approved to be street legal for us to insure for full coverage.

That is reasonable but for the purposed of a "future loss" would the vehicle be deemed worthy of stated value loss "if" it were subsequently involved in an accident?

Hagerty: We would insure the car at the value it retains now and that would be the value you would receive in the event of a total loss claim. Of course a salvage titled vehicle may be worth less than a full original but we would take that into consideration at the time of the application.
____________________

So, that's all for now. Continue kicking the can down the road.

Tom

[MountainRoads]

Just something to throw out there....a theft vehicle can also be considered a salvage car.

I was going to make this exact same point. I came close on a very nice, original, low-miles US-delivery '74 Carrera. Classic ducktail with blue lettering over white body. Legit local dealer was asking mid-twenties. Only downside was the salvage title due to theft recovery early in it's history. Otherwise, it was a very nice car. I passed because of the stigma associated with the salvage title, but I occasionally wonder if I made the right decision.

1) Find out the reason for the salvage title. and decide if you can live with that.
2) Get a good, extra-thorough PPI from a knowledgeable source.
3) Realize you are buying this car at discount and you will probably eventually sell it at discount. NBD, if all you want to do is enjoy it.
4) On the plus side, you might not feel as guilty about personalizing or making engine mods

-MR

[72targa]

The ultimate salvage vehicle!

http://www.early911sregistry.org/for...-of-a-RHD-2.2S.

[blucille]

IMO, If the car is in excellent knit, the title is of no consequence. Salvage titles need to be weigh against the results of a PPI. A car restored by a top shop w/ an excellent PPI will out weigh its original title.

I wouldn't go that far....as others have pointed out, insuability and insurance values will be affected by a branded title....and then when you are ready to sell the car, I expect all the buyers like you, Luke, will be the last to come forward and want to buy the car.....you'll hear from all the low-ballers first.

if it's a hot-rod or otherwise modified car, that's one thing, but for a restored car, you are going to turn a lot of people off when they learn the title is branded.

Lewis

[sithot]

if it's a hot-rod or otherwise modified car, that's one thing, but for a restored car, you are going to turn a lot of people off when they learn the title is branded.
Lewis

A Restored Car With a Branded Title. That's one I think I'll miss.
The imagination runs wild and the story can only get bigger and better!

In a hundred years or so somebody will pass off the Beck 904 with the 904XXX VIN as legitimate.

Tom