What extent of damage is required to result in a Salvage Title? Ebay sale...

I believe a title gets the Salvage tag whenever an Insurance company buys it back. IE, the insurance company thought it was cheaper to pay-off the policy then pay for the repair.

I would avoid salvage cars, even if they are fixed, chances are there is frame damage and they will never be 100% again. Plus you will have a very hard time selling it should you choose.

Best,
dsd

 

The seller also has a hat trailer..........

http://cgi.ebay.com/ebaymotors/Custom-Display-Hat-Trailer_W0QQitemZ160114392051QQihZ006QQcategoryZ66470QQssPageNameZWDVWQQrdZ1QQcmdZViewItem

Ask him if he'll throw in the hat for free.......................

James in Denver
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The Golden State Warriors could use that tonight for sure!

 

It depends on how much it was insured for.

 

As far as I know, if the car costs more than about 60% of its value to fix it back to original condition after an accident, than the Ins. company (or MVD) will give it a "Salvage Title" and sell it at Auction. Sometimes the owner has the option to buy it back first from the Ins. Co. before it gows to Auction. Be careful of Salvage Titles and especially Exotics. Also look out for Flood cars. Those cars clean up real real nice by after a few miles they become a big problem.

 

It would probably boil down to what value the car has to the prospective owner.

Insurance company judgments do not always make sense, and sometimes a great value can be had as a result.

But for certain the salvage title will follow the car.

Again, that could be of least importance if the value and long-term usage is there.

 

The story doesn't sound right. I would try for a "no stories" car.

 

As an Insurance Broker the general rule of thumb followed by most insurers
nationwide goes like this :

$$ VALUE OF THE VEHICLE
- MINUS THE SALAVGE VALUE
______________________________

EQUALS NET VALUE


If the then total damage to the vehicle exceeds the above net value then
the vehicle is declared a total loss and then required to have a Salvage Title.

An exception would be if a vehicle were damaged due to water,especially salt water then the vehicle would be a total loss under any circumstance.

 

Thanks!

Good to know this info.

 

just to carry this on a bit:
Net value might still be a workable car if labor and exotic parts are the consideration keeping it from being rebuilt. Labor can almost always send some cars over the limit.

 

That's not strictly true, and it's unfair to the great specialists that are able to rebuild complete wrecks.

I know specialists who rebuild severely damaged cars, and since the frame is rebuilt on a very accurate rig and the weldings are made accurately by a higly experienced craftsman, the final result is that often these cars have better torsional stiffness than new!

Admittedly, to do a full frame rebuild job requires a ton of money, which is why very often people would rather scrap cars like Lambos or Ferraris - it's the cost of the repairs, not the feasibility. However on rare classics and racing cars such total rebuild jobs are common practice, and the results are excellent if the work is carried out by the best specialists.

 

Net, net..Damage to the front suspension and panel would not justify a salvage title on a $140-150K car. There is more to this story..Also, the claim is that it was damaged while at the dealership??

If this were the case Ferrari or the dealership would handle the repairs?

Seems there is a bit more to this..

 

All very mysterious if the damage was as minor as he tries to make it sound the car would still have a clear title. Also, is it just me or does it appear that this car has 550 wheels that are just coated black.

 

Wouldn't a theft recovery warrent a salvage title?

 

Salvage Title = (Repair cost) > ((What insurance co. pays insured) - (What insurance co. sells leftovers for))

In the case of specialty cars, the leftover parts (i.e. the damaged car) can be worth quite a lot.

 

Theft Recovery does not automatically equal a "tainted title"

I was at a BMW Dealer and saw an X5 fall off a lift, wonder if something like this may have happened?

-dsd

 

The car in question here is not an SA.

 

dsd, the poster says it is a salvage, but I have a hard time believing the whole story is it had some damage at the dealership to the front and suspension.

Salvage status is at the insurance company's discretion based on what the feel are the economic consequences of repair vs auction. It definitely bears a deep look-see. A $100K 575 has got my interest. Hey, that leaves enough to replace the valve guides when they fail!