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Title not a big deal Posted by Ari [Email] ![]() ![]() In Reply to: Re: deer hit, Peter Van Dine, Thu, 7 Dec 2006 19:23:33 Members do not see ads below this line. - Help Keep This Site Online - Signup |
Laws vary from state to state, but chances are it would be hard to get a clear title - once the car has been totaled, it carries a Salvage title.
That said, what is so bad about that? I drove a car for 9 years and 160K miles with a salvage title. And the reality is that all a salvage title impacts is resale value. Some buyers will be scared away, so you'd need to drop the price. First, are you planning on selling the car anytime soon? And second, how much would you expect to get? The settlement price isn't that far off from a sales price, so maybe a salvage title will drop the price from $3500 to $2500 if you sell it right away. But once you've fixed the car up, you probably plan on keeping it. So say you do sell it in four or five years, with 160K. It'll be almost 20 years old with high miles - I don't think a salvage title will impact the price that much.
It may impact how much insurance will pay if it is totalled again. But as you've seen, that is a pittance.
posted by 192.249....
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