salvage titles

[will]

could someone explain what this is or means,
can you still register the car,is there a chance it could turn up stolen and I loose the car?

I heard the term but never really knew what it ment!

thanks!
Will

[68z302]

As far as I know this means the car has been written off by an insurance company.
It doesn't mean the car was in a bad accident either. Insurance companies write cars off even if they've been somewhat vandalized but overall but what an enthusiast would consider minor. Say the interior was sliced up.
Salvage title cars are great for parts but to put one back on the road you'll always have to deal in the fact it was once a write off so the value will be lower IMO.
Hope that helps http://www.yenko.net/ubbthreads/images/graemlins/biggthumpup.gif

[69LM1]

I don't think that there would *normally* be any issue with theft recovery. If the car was stolen and then branded with a salvage title, then it means that the ins company paid the owners claim and then wrote the car off. There is one type of title that is out there, I cannot remember the name, but basically it is a no rebuilder type and you cannot get it registered, at least here in Louisiana.

I had a BMW Z3 that I bought for 4,500 with VERY light damage (basically a new bumper and bumper shock) and drove around while I fixed it. I did not have any trouble selling it.

Just make sure that it is a deal, and do not pay top dollar for it.

Just my .02,

Rich

[Canucklehead]

i've bought cars with the salvage title and the only problem i had was that it had to be inspected before it was registered. Other then that it was fine. Insurance companys look in their books and if the repairs are worth more then the car, then they write it off. For alot of these older cars they claim for new parts which skyrocket the estimate. Sometimes you can buy the slavage and fix it with used parts for half the price. In most cases they don't look at collector value.

[elcamino]

Salvage title means BUYER BEWARE!

[ QUOTE ]
Salvage Titles
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A salvage title is issued for a vehicle that has become a "distressed vehicle". A vehicle becomes "distressed" when one or more major component parts (such as bumpers, fenders, transmission, engine, hood, doors, frame, tailgate, body, etc.) have been wrecked, destroyed, damaged, stolen, or are missing to the extent the total estimated damage is from 75% to less than 91% of its pre-damaged cash value. The vehicle owner's insurance company will determine the amount of damage to the vehicle. The regular title is replaced with a salvage title.



A vehicle with a salvage title cannot be plated or used on public roads until it is recertified by a specially trained police officer and retitled. Through March 1990, vehicles retitled for road use were identified as "REBUILT" on the front of the title. Beginning April 2, 1990, the words "This vehicle was previously issued a salvage title" are used in place of "REBUILT". Since 1989, salvage and rebuilt titles are orange in color and list the vehicle's color and non-salvageable major component parts.



NOTE: Vehicles with only flood damage may be titled as salvage vehicles.



Motor vehicles, motorcycles, trailer coaches, and titled trailers are subject to the salvage law. Mobile homes, ORVs, and watercraft are not included.



Salvage Titles for Late-Model Vehicles



A late-model (newer) vehicle is defined as:

A vehicle 8,000 pounds or less manufactured in one of the last six model years, or
A vehicle 8,001 pounds or more manufactured in one of the last 16 model years.


Michigan Dealers



When a Michigan vehicle dealer acquires a late-model distressed vehicle not yet titled as salvage, and the vehicle's estimated cost of repairs is between 75% and less than 91% of its pre-damaged value, the dealer must apply for a resale salvage title within five days.



The Michigan dealer must complete both an Application for Original Michigan Salvage Title (TR-12) form and an Application for Michigan Title - Statement of Vehicle Sale (RD-108) form in the name of the dealership.



If a Michigan dealer acquires a vehicle already titled as salvage (either in Michigan or in another state), the dealer does not have to obtain a resale salvage title. The dealer (only those holding both a B and C license or holding both a B and R dealer license) may sell the salvage vehicle using the reassigned salvage title. If the salvage title is from out-of-state, the dealer must submit both an RD-108 and a TR-12 with the out-of-state salvage title. The TR-12 should identify the damage to the vehicle.



No plate or permit (including a dealer plate) can be issued or used until a rebuilt title application is processed.



NOTE: A salvage indicator on an out-of-state title is always carried forward to a Michigan title, even if the vehicle is damaged less than 75% of its pre-damaged value.



When a Michigan dealer sells a vehicle previously titled as salvage, the dealer must give a written or printed disclosure to the buyer. This document certifies the dealer informed the buyer the vehicle was previously a distressed vehicle.



Insurance Companies



An insurance company acquiring ownership of a late-model distressed vehicle through payment of damages must apply for an original salvage title using an Application for Original Michigan Salvage Title (TR-12) form.

If the insurance company takes ownership of the vehicle, the insurance company applies for the salvage title in its name.
The insurance company may allow the owner to keep the salvage vehicle if the owner wants it. In this case the title is not transferred to the insurance company. Instead, the insurance company applies for the salvage title in the vehicle owner's name. The insurance company completes the application but the vehicle owner must sign the TR-12. The owner's "regular" title should be submitted with the application for a salvage title.


Recovered Stolen Vehicles



When an insurance company pays a claim for a vehicle that has been stolen, the owner assigns the title to the insurance company. The insurance company becomes the owner of the vehicle. If the vehicle is recovered, the insurance company must apply for a salvage title if one or more major component parts are missing, destroyed, or damaged and not salvageable. This applies even if the estimated cost of repair is less than 75% of the vehicle's pre-damaged value.



Individuals



When an individual vehicle owner acquires a late-model distressed vehicle a salvage title must be applied for before the vehicle may be transported or towed. Owners may apply for an original salvage title at a Secretary of State branch office by completing an Application for Original Michigan Salvage Title (TR-12) form.


Salvage Titles for Older-Model Vehicles



An older-model vehicle is defined as:

A vehicle 8,000 pounds or less over six model years old, or
A vehicle 8,001 pounds or more over 16 model years old.


Insurance Companies



When an insurance company acquires ownership of an older-model vehicle, a salvage or scrap title is not required. The insurance company simply receives the title from the insured and reassigns the title upon resale of the vehicle.



Individuals



Older-model distressed vehicles are titled as salvage vehicles only on a voluntary basis. Vehicle owners are discouraged from applying for a salvage title on an older-model vehicle because it is not necessary. It is also expensive and often difficult to obtain a vehicle recertification in order to purchase a plate.



Salvage Vehicles from Another State



A vehicle with an out-of-state salvage title, regardless of the model year, cannot receive a Michigan recertified road-use title until:

The vehicle has been recertified and titled for road use in the state which issued the salvage title, or
The vehicle has been recertified by a Michigan salvage inspector using the TR-13B recertification form. (The TR-13B recertification form is available only to law enforcement officers.)

Applying For a Salvage Vehicle Title



An individual, business, or Michigan dealer may submit applications for salvage titles either at a local Secretary of State branch office or directly to Lansing, Michigan. A check in the amount of $15 made payable to "State of Michigan" must accompany all applications. When using the direct mail method, send all documents, fees, and the TR-12 application (and a RD-108 if a dealer) to:



Michigan Department of State
Out of State Resident Services Unit
7064 Crowner Drive
Lansing, MI 48918
Phone (517) 322-1473






[/ QUOTE ]

[x44d80]

Probably not alot of "salvage title" COPO Camaros rolling around. Probably just crushed them. I'd take any of them though.

[Redneck]

How about a little input from a rebuider-
Every week I buy and see cars with salvage on the title, some for parts and some to repair. I personnally don't repair "killed" stuff with major frame damage. Over the years I have bought a ton of wrecked, flood and fire cars that I have got in and drove them home from the "salvage sale". So in a nutshell it's not "buyer beware" as someone posted just common sense. I would like to think that anyone on this forum has enough common sense to look before you buy and ask lots of questions. Take it to a body shop or someone that knows what has been done and was it repaired correctly???
You can save some dollars if you don't mind the Salvage title and if the vehicle is several thousand cheaper than a comparable one because when you sell you're going to get less.
How about a 69 Yenko, all original w/ salvage on the title?? would this imaginary car only be worth 20K versus 120K for a clean title?? I don't think so

[JoeG]

Can't a buyer do a vin# search to see what a car has been thru--?

[BBIGG BLOCK 396]

I have a good friend that rebuilds wrecked cars and some have salvage titles.As a matter of fact I purchased a 1995 chevy Blazer from him after he rebuilt it.It had actually been ran in a ditch and rolled on one side and was pretty warped,but had no frame damage.He actually built it for his wife as a daily driver.She drove the car for a year then he bought her a ImpalaSS.I purchased the blazer for my wife and sghe drove it until last year then I bought her a Suburban.My Sisterinlaw bought the Blazer ,drives it daily.It now has about 90,000 miles and knock on wood has never had any problems at all with this vehicle.I watched my friend rebuild this truck and it was all body work and replacing the complete top of the vehicle.The vehicle never had any wind noise,no leaks,and drove like new.When I bought it there was 14,000 miles on the truck.It had a salvage title.After my friend rebuilt the truck it had to be inspected by the Department of Public Safety ,which is the State Troopers Department here in Texas.They only inspect them to make sure no stolen parts are used to rebuild them.You have to show proof of all parts used and whom you purchased them from.I personally would not be scared to purchase a salvage titled vehicle as long as it did not sustain any major frame damage.But then again it depends on who rebuilt it also.I have watched my friend rebuild many salvage title vehicles and he has been doing this for about 10 years.He sells a lot of them and never has had any problems.My friend is an honest fellow and would not put someone in a vehicle that he would not put a member of his family in.Sorry to say that everyone that rebuilds vehicles ar not like that ,there are some that are just after the almighty $dollar$ and do not care.Those are the ones to watch out for.A lot of the vehicles my friend sales are also financed by banks and other financial instutitions,I do not believe there has ever been a problem getting one financed with a salvage title.When you get insurance on one here in Texas that has a salvage title immediately your agent knows it has a salvage title and can tell you certain information as to why it was salvaged.My friend only rebuilds S10 trucks,and blazers.But occaisionally something else.He now drives a Ford F250 Crew Cab Diesel that was totaled and has a salvage title and you can never tell this vehicle was ever in an accident.He purchased a complete new body with doors from Ford,he has about $14,000.00 total in this truck and it is a 2002 model and has 22,000 miles and is all leather and fully loaded.I have driven this truck many times and it is just like new!If you have any specific questions ask me and I will get the information from my friend.But I can tel you that all states are not like Texas when it comes to Salvage title vehicles.Many States are different and you would need to know the laws for each state.The bottom line is that a salvage title vehicle does not bring the most Dollars when you sell them,if the work is done correctly they are safe vehicles,some you can't tell there was anything wrong with them.and insurance companies issue salvage titles for many different reasons here in Texas.I also know a couple of people that have classic cars that have salvage titles and both of them were due to flooding.One is a 68 camaro,the other is a 1965 Impala SS.By looking at either of these cars you would never know they went through a flood.Both are show quality vehicles and neither owner has a lot of money in them.

Bobby Dodson

[JoeG]

[ QUOTE ]
."I personally would not be scared to purchase a salvage titled vehicle as long as it did not sustain any major frame damage.But then again it depends on who rebuilt it also." ----- Makes sense to me Bobby---I really don't have an issue with salvage titles--as long as the buyer is able to access the correct information on the salvage/damaged vehicle--- Unfortunately in too many businesses and institutions there are cracks and things that don't
come up to snuff usually fall thru them and find their way into some trusting souls life----There are a lot of reputable groups of restorers and dealers of whom I'M sure your good friend and many others belong to,but this is not the land of OZ .----- The Buyer beware comment unfortunately covers a lot of ground in today's scam/bam thank-you mame world ,and as was stated before, common sense questions and being able to access information on the vehicles condition before the repairs were done ,is in the long run better for all concerned,especially for the buyer.-------------- http://www.yenko.net/ubbthreads/images/graemlins/beers.gif