OT: Salvage titles, What's the skinny |
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OT: Salvage titles, What's the skinny |
Hammy |
Mar 31 2012, 11:04 PM
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#1
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mr. Wonderful Group: Members Posts: 1,826 Joined: 20-October 04 From: Columbia, California Member No.: 2,978 Region Association: Northern California |
So a friend is in the market for a used 2nd gen Prius, and have been noticing a huge amount of them in private sale are salvaged title, usually due to the owner not wanting to pay back registration fees and salvaging the title??
I'm a bit uninformed on the subject, so What's the downside to a salvage title, is it higher insurance rates? I've been searching and have yet to find a definitive answer. Any info appreciated! (IMG:style_emoticons/default/beer3.gif) |
Black914_4 |
Apr 1 2012, 07:57 AM
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#2
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Member Group: Members Posts: 272 Joined: 11-January 12 From: AR Member No.: 13,994 Region Association: South East States |
Reg. fees have nothing to do with titles that I know about.
I would not have a problem buying a car with a salvage title myself. Just have to find out why it was salvaged. It could be simple and stupid or something major. Some states will salvage over a dented fender. No biggy, it was repaired and is good as new. Guy on ebay selling a 914 has that problem. I know one state is real bad about that, N. Carolina maybe. Can't remember. Fender bender and they salvage it!. If it was flooded, or bent frame, or cut in half, etc I would be concerned. I tried to buy a 911 a couple years ago. Salvaged title due to fender bender when it was only 1 yr old. Repaired to new condition. Only had 30K miles on it, Show room condition. Booked at $40k, Had them talked down to $23k. I tried 10 banks & credit unions and could not get anyone to finance it! Even at half price. Biggest problem. IDk about insureance. Call yours and ask. I'm sure they would give you info. I don't think it would be an issue. |
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