"Total Loss" wasn''t disclosed at time of sale. | FerrariChat

"Total Loss" wasn''t disclosed at time of sale.

Discussion in 'Ferrari Discussion (not model specific)' started by CChung, Mar 17, 2013.

This site may earn a commission from merchant affiliate links, including eBay, Amazon, Skimlinks, and others.

  1. CChung

    CChung Formula Junior

    Dec 10, 2003
    286
    Southern California
    I have a friend who bought a 355 from a Ferrari dealer about 5 years ago. Then recently he tried to get an estimate of how much his car is worth now from a non-Ferrari dealership. When they ran a Carfax report on the car it showed it was declared a total loss by the insurance company six years ago, which totally shocked him. It was not disclosed as a total loss vehicle at the time he purchased it. What's also surprising is that the Carfax had a footnote saying it wasn't reported until last month of the total loss by the insurance company! And they ran an Auto Check report and it showed a clean history! I don't understand how something like this could take 6 years to finally show up on the Carfax report. I truly believe the Ferrari dealer didn't know anything about the total loss at the time of sale but we would like to know what legal right and recourse my friend has in dealing with this situation. I will not disclose any dealers involved. Thanks for any advice.
     
  2. bpu699

    bpu699 F1 World Champ
    Owner Silver Subscribed

    Dec 9, 2003
    17,429
    wisconsin/chicago
    Full Name:
    bo
    Sounds like at errror. Someone typed the wrong VIN.

    Can you find out where or who totaled it, and call?

    Bo
     
  3. wax

    wax Five Time F1 World Champ
    Lifetime Rossa

    Jul 20, 2003
    52,320
    SFPD
    Full Name:
    Dirty Harry
    Agree.

    Clerical error.
     
  4. roadracer311

    roadracer311 Formula 3

    May 6, 2009
    2,398
    San Francisco
    Full Name:
    Paul
    If this was in California, and turns out to not be a clerical error, the dealer would still have a lot of incentive to make it right. This is the sort of thing that a dealer could lose his/her license over (if it is salvaged, and wasn't disclosed, *and* they refused to make it right).
     
  5. PassionIsFerrari

    PassionIsFerrari Formula 3

    Aug 15, 2004
    2,454
    I am going through the exact same circumstance right now, and am very interested in opinions or even better some facts....

    I bought a 2010 Jag XF Portfolio about 4 months ago....had a completely clean carfax....looking to sell the car now and a carfax popped up in Feb reporting it as a stolen vehicle over a year ago...now nobody will touch it because it has a dirty carfax.....carfax has a note that even thought it was stolen in 2011, then didnt report it until feb 2013....The dealer said he didn't know (and I believe him, he bought it at a dealer auction, how the hell would he know that)...

    but the fact is I sold something different then what I was told...whether by honest error or not...I feel like I am entitled to the difference in damages and I feel like carfax is the one that should be responsible...
     
  6. anunakki

    anunakki Seven Time F1 World Champ
    Owner Rossa Subscribed

    Oct 8, 2005
    78,512
    Las Vegas Nevada
    Full Name:
    Jerry
    I think this is called **** happens. its not fair. its not fun. But no one did anything dishonest and the urge to blame someone or 'make them pay' needs to be put aside in exchange for rational thought.
     
  7. toggie

    toggie F1 World Champ
    Owner Silver Subscribed

    Nov 30, 2003
    19,036
    Virginia
    Full Name:
    Toggie (Ron)
    I'm no expert, but I think your situation possibly might be much worse than finding out about a salvaged title.
    If your car was stolen prior to you buying it, then technically, you do NOT own it now.

    If the original insurance company paid off the car to the insured owner when it was stolen, then that insurance company is still the legal owner.
    None of the people who bought the car since that time have any ownership in the car.

    I could be wrong, I have no legal training, but every thing I've heard over the years about buying stolen goods isn't good.
    You need to have someone look into this right away I think.
     
  8. bpu699

    bpu699 F1 World Champ
    Owner Silver Subscribed

    Dec 9, 2003
    17,429
    wisconsin/chicago
    Full Name:
    bo
    If you buy a car through a dealer, the title is guaranteed clear by law... Read that in Legal Files...

    Bo
     
  9. JeremyJon

    JeremyJon F1 Veteran

    Jul 28, 2010
    7,569
    Calgary, Canada
    if the Carfax reports can be that out of date, that's not good at all, given the dependance buyers have of it
    there must be some recourse as a buyer, but then again, if the Carfax shows clear at the point of sale, i don't see there is legally, not really?!
     
  10. yelcab

    yelcab F1 World Champ
    Consultant

    Nov 29, 2001
    13,379
    San Carlos, CA
    Full Name:
    Mitchell Le
    In California, a dealer license is bonded for this very reason. I would at least check with DMV to see where to go with this.
     
  11. brnmw

    brnmw Rookie

    Jan 3, 2013
    18
    TEXAS
    If the individual in question can't find any evidence of "Fire", "Inherent damage" from collision, water or otherwise I also would say clerical error... I mean to call a vehicle a total loss I would imagine something would stand out.
     
  12. David_S

    David_S F1 World Champ
    Silver Subscribed

    Nov 1, 2003
    11,260
    Mountains of WNC...
    Full Name:
    David S.
    Sorry, but WHAT?

    Yes, the title may be currently (or at one time) clear - but do a bit of searching on "title washing."

    Forgive me any honest dealers in Florida that may read this, but my own judgement - anything not factory new with warranty out of FL had better be looked at VERY closely.
     
  13. bpu699

    bpu699 F1 World Champ
    Owner Silver Subscribed

    Dec 9, 2003
    17,429
    wisconsin/chicago
    Full Name:
    bo
    What I was referring to was theft. If you buy a car from a dealer, and pay retail price, the car is yours. A buyer can't later claim that the car was stolen, and needs to be returned. You, as the current owner, get to keep the car. Either the original owner or dealer are SOL. If this were't true, no one would even buy a car, if you could "lose it" at a later point.

    There was an article on this in SCM, in the Legal Files section...

    Bo
     
  14. 335s

    335s Formula Junior

    Jan 17, 2007
    870
    SF Bay Area
    Full Name:
    T. Monma
    if in CA, you are most probably going to get a 100% refund...
    if in FL- it is the opposite: you will be SOL...

    its that diverse in terms of
    'recoverability"....
    FWIW










    ....
     
  15. Rifledriver

    Rifledriver Three Time F1 World Champ

    Apr 29, 2004
    36,749
    Cowboy Capitol of the World
    Full Name:
    Brian Crall
    He said nothing of a slavage title.

    I belive some here are assuming it is a salvage title.


    If it is a clean California title I agree with Jerry.
     
  16. TheMayor

    TheMayor Ten Time F1 World Champ
    Rossa Subscribed

    Feb 11, 2008
    104,768
    Vegas baby
    #16 TheMayor, Mar 18, 2013
    Last edited: Mar 18, 2013
    I have a question

    Can anyone actually TELL it was a total loss? I'm assuming a total loss would mean a major accident or flood or something significant redone.

    There should be some evidence. If there is none, then why not just assume it's the wrong information from the insurance company and ask for evidence or it be removed from Carfax?

    Why blame the dealer who sold it when you don't even know it's a problem with the car?

    The OP says "total loss not disclosed at time of sale". Really? How do you know?
     
  17. CChung

    CChung Formula Junior

    Dec 10, 2003
    286
    Southern California
    #17 CChung, Mar 18, 2013
    Last edited: Mar 18, 2013
    Thanks everyone for the replies. To clear things up, I'm not blaming the dealer who sold the car at all, nor am I in a position to do so. I did say I think the dealer didn't know of any problem with the car at the time of sale. The car looks like it's in mint condition and I cannot tell just by looking from the exterior that it was declared a total loss by the insurance company. The fact is that it is declared a total loss on the Carfax and would severely affect how much he gets for the car when he tries to sell it, as he tried. This person is a friend of mine and he looked through all the documents he signed at the time of sale if he unknowlingly signed something that said the car was declared a total loss. He found no such documents and he would have definitely remembered if told the car was a total loss, otherwise he wouldn't have bought it! I'm sure the dealer right now is looking into the insurance company that declared the total loss for more information if indeed it was involved in a major accident. Interestingly, his California title has a red rectangular box on the upper right corner that has numbers inside the box and above it saying "Vehicle History." It doesn't say anything about being a salvage car. Anyone know what this red box with numbers in it might mean? My title doesn't have any numbers inside the box.

    Incidentally, he did talk to a lawyer who informed him if the "total loss" is indeed authentic and not a mistake and it wasn't disclosed he should be entitled to full refund of the purchase price from the selling dealer and gives the car back, or compensation and he keeps the car. We'll see how this plays out.
     
  18. SrfCity

    SrfCity F1 World Champ

    It would seem that the dealer should make good on it and then chase down the auction place to get a refund from them etc. At any rate a total loss should have appeared if a PPI was done. Lastly, I don't think that you could get a loan on a total loss car if indeed this guy did, so maybe you could sick the lien company on the dealer? This wouldn't be the first time a shocker came up when someone decided to sell down the road.
     
  19. ferrarisun

    ferrarisun Formula Junior

    Feb 13, 2011
    960
    Seems like there are quite a few exotic cars on ebay with salvage titles. I have been told by 2 big insurance companies, that the way they deal with cars with salvage titles, when someone files a claim , if that salveged titled car is involved in anymore than a "fender bender", they will automatically total out the car, because they worry about liability, from whatever damage caused the car to incur the original totaled out/salvage title, in the first place. Wonder how many of the Hurricane Sandy, salt-water flooded cars, (exotic & late model cars), will be sold by fly-by-dealers all over the country, without the public knowing the history of the cars. A lot of that happed with hurricane Katrina. As some of the posters have mentioned, it can apperently take a long time for the salvage to show up on the car-fax, autocheck, or others. And there are still a lot of crooked dealers that will run those cars thru non-salvage title states, and then the title in hand is "clean" . But the car sure isn't!
     

Share This Page