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Re: Salvage Titles Posted by Ari [Email]  (#2847) [Profile/Gallery]
(more from Ari) on Fri, 30 Mar 2001 13:05:02
In Reply to: Salvage Titles, WASSAAB, Fri, 30 Mar 2001 12:03:29 Members do not see ads below this line. - Help Keep This Site Online - Signup |
Salvage is just a matter of economics. If the quote to repair the damage is more than the book value of the car (or even close to it), the insurance company will total it. And the book value they use is astonishingly low. So depending on the year and condition of the car, it's surprisingly easy to 'total' a car.
As to resale value - yes, you'll take a hit. If I were you, I'd copy every piece of paper that you come across. You might be able to use it to convince the next buyer that the damage was minor. But with Carfax and other services around, know that it will be a mark that will impact resale - it will also make it harder to sell, because some folks will avoid the car, period. But as they say in real estate, price fixes everything.
I bought a 900T that was a year old with just 2K miles that had a salvage title. It had be hit in the rear quarter. The fix was great, and I drove the car another 160K miles. At 10 years old and 160K, the hit from a salvage title makes no big deal on the car.
If the car is pretty new, you'll take a hit on the salvage title if you resell it. If you want to keep it, you're way ahead.
, Fri, 30 Mar 2001 13:05:02 <-- Viewing This Message
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