Buying a Salvaged title vehicle?

[THE beaver]

Has anyone actually done this? I am selling my jeep :( and looking for something nice but not to expensive which is an oxymoron. I found a sweet car and drove it, it seems fine but have no experince buying a salvaged vehicle. I would have a mechanic look at it of course but was hopeing to hear from someone with first hand experience that wasn't trying to sell me a car. Thanks

[Joe West]

You'll take a "hit" :D on resale value when you go to sell it... you'd better be getting a great deal on it now. If you are paying anywhere near low book... you are paying too much. My estimate (and this is my opinion) is that 1/2 or less of low book for a salvage title and then drive the thing into the dirt.

[THE beaver]

my plan was to drive it into the dirt like you said, its about 5k under the blue book value.

[MadCarlisle]

I would think the reason behind the salvage title is what needs to be looked at.

Was it a major total loss by the insurance company or a minor. By major, I mean was the structural integrity of the vehicle damaged and to what extent...

Minor would be the total damage was more cosmetic than structural. Sometimes the total of the parts with labor make it not worth the insurance carrier paying for repairs......

Try to find out what type of loss it was...a theft....or a bad accident then evaluate the vehicle with a good mechanic and body shop. You never know if structural damage repairs and welds were completed properly.

Sometimes a salvage titled vehicle is a great find

[jpotts]

I've been looking into salvage title Jeeps, but only for offroad use. I'd like to get my wife something to wheel. But, if I were looking for something to drive on the freeway, I would be really careful. Many cars today don't have solid frames and collisions can affect the integrity of the structure. Many have crumple zones that are designed to crumple upon impact. Even small accidents can cause these to give way. Make sure that either you really know what you are looking at or take it to someone who does and who you trust.

As was said before, if everything is up to snuff, you could have a great deal. Just make sure you know what you are getting.

[joe002]

I bought a salvaged Hyundai Accent. It was hit in the rear so the engine and suspension was not affected, and the frame was good. It looked clean when I actually bought it (a body shop fixed it up) and I got it for 1/2 low book. We drove it for 3 years with no problems, until my son rolled and totaled it. The insurance company gave us almost as much as we paid for it - because it was a salvage title - and because we got it for a good price. So, it worked out for us.

Don’t pay a lot for a salvage vehicle - remember it was totaled. Find out how it was totaled - I personally wouldn’t consider a vehicle that was in a head-on collision. Call your insurance company and ask them what they would give you if you totaled it (again) to get an idea what it is worth.

[AZXJ]

Some insurance companies won't allow full coverage on salvage titled vehicles.

Another thing to consider, if this is a Katrina vehicle.. don't buy it. (get a CarFax report)

Search the web, there are horror stories of people buying Katrina cars and loosing thier AXX's on them due to the salt water that they sat in..

Dave

[Fire Ball]

I bought a TJ with a salvage title knowing full well that almost nothing could be worse for a jeep than what I am gpoing to do to it :D

[AZXJ]

So that explains it! :D

[OlneyJeeps]

Some insurance companies won't allow full coverage on salvage titled vehicles.

Another thing to consider, if this is a Katrina vehicle.. don't buy it. (get a CarFax report)

Search the web, there are horror stories of people buying Katrina cars and loosing thier AXX's on them due to the salt water that they sat in..

Dave

Not that I know anything about this subject,as insurance agent for 15 years:

most insurance companies will never know that it is salvage title (how many times have you had to show title to insurance agent? Vehicle is insured for ACV, only time they would ever see title is if total loss ,in which case you would recover "value". Document condition, what you paid for it to prove value and should be no problem.

Carfax MAY show prior damage, but many states (including AZ) DO NOT mandate reporting. I personaly have run CARFAX on multiple vehicles and encountered gross misreporting (CARFAX has refunded fee to me 3 times). Bottom line: report worth a couple bucks, but don't hold to be full story.

See if you can find report of why vehicle was totaled. Without going into story, my 98 TJ was totaled due to mild rollover. Resulting damage:
hardtop cracked (replaced, cracked yesterday on unplanned LT run:eek:)
right rear corner smashed in ( pulled out, not TBT corners cover)
small dent in hood, ws frame, door, side of tub
worst damage side of tub dent (could do worse with one swing of 1.5lb hammer). Full crusher corner would cover, or might pull and bondo

GENERALLY insurance company will not allow buyback (but will sell to scrap yard) if:
airbags deploy
frame damage
other damage which makes vehicle "unsafe"