[flintbobbi]

I've been perusing websites (ebay, autotrader, etc.) and see these autos with salvage titles every now and then. Some demonstrate autos with little damage, saying "an entire carlot" was hit by a hurricane and the insurer totaled the entire lot rather than do individual cars.

Sounds dubious to me, but nonetheless, makes me wonder. Others indicate they have been fully repaired. I know how little damage it sometimes takes to have an auto considered "totaled" by an insurer. Many are quite driveable.

So what's the deal? I have not checked with either the state to deteremine how difficult it would be to license an auto with a salvage title, nor have I checked with my insurer to see if there is an increased cost to insure them, if they can be insured at all.

Anyone have any insight here? Just curious. The family van has 125k miles on it (Dodge Grand Caravan) and so we are in the market for a new G.Caravan, Sienna, or Town and Country...before the hot summer heat hits and the wife and kids get stranded somewhere.

Thanks, Flint

 

[Seminoles3]

Flint- I was wondering the same thing myself ? They have a Burg 400 on Ebay right now about 90 minutes from me in Daytona that fits the Salvage criteria. States that it was hit by fresh water.

 

[allwalk]

I don't know about the states but up here in Canada once a bike (serial and vin numbers) have been tagged salvage it is extremely difficult if not impossible to get one cleared or certified to be used on road again.

 

[gdavis13]

I purchased my bike from the same guy selling the flood bike. My bike was wrecked and salvaged by the insurance company. The guy purchases the bikes from the insurance company and do some work to restore it to a saleable condition. Florida also inspects a salvage (rebuilt) bike and remove the salvage tag from the title. HOWEVER, they replace one of the VIN tags with a rebuilt tag from the Florida DMV. So even though the title is clear, the bike is still considered salvage. When I took my bike in for the 6000 mile service, the service man ran out to tell me that my AN400 was a rebuilt bike and was surprised that I already knew. I tried to trade it up to an AN650 recently and that salvage sticker caused a $1000 reduction below the book value on the stock AN400. That was with the GIVI screen and trunk attached. I have since decided to keep my AN400.

 

[drspencer48]

I'm in the auto business, and deal will "Salvage" titles all the time. A salvage title is issued when insurance companies have to pay off on total losses. They can be from accidents, flooding, theft, etc. It doesn't matter whether they were damaged or not. IE - in a theft, missing long enough for an insurance company to pay off, then found intact.

It can effect the value of a vehicle thousands of dollars. A dealer is required to disclose when they sell a vehicle with a salvage title in most states. If you plan on keeping the vehicle for a long time, because you WILL have a hard time selling it at anywhere near market value, I maybe would consider one that was stolen, after a thorough inspection, for a greatly reduced price. I wouln't consider a rebuilt or flood salvage vehicle other than for parts.

 

[flintbobbi]

followup questions...

So, Salvage titles impact both purchase price (lowering it) when you go to buy the vehicle, but also decreases the value of the vehicle as a trade-in.

Given I typically keep vehicles til they are dust, the second issue is not a big deal, and the first one could be good for me when I want to purchase.

Since I typically get a very good inspection on a used vehicle when I go to buy it, I have two followup questions...curious if anyone (Gary or Dr. Spencer?) has an answer.

1. Are the vehicles more expensive to insure because of the salvage title?
2. Can you get a service plan to cover the vehicle? I'm not fond of these, but since the vehicle has been damaged, might be a good idea to obtain. In fact, does the salvage title cause the factory warranty (like the powertrain coverage) to be voided?

Thanks for any info. Flint

 

[drspencer48]

Your insurance rates wouldn't be any higher, but what they would give you for it should it be totaled, will be effected by the salvage status.

As far as the warranty, a manufacturer's warranty could be effected should the vehicle have prior damage or flood. A theft with no damage shouldn't effect the coverage, but would give them an out for "grey area" claims.

Most aftermarket service contracts exclude salvage title vehicles. If they don't, they would probably look hard at any claim that could have been caused by a prior repair.

In other words, I think your on your own for the most part.