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!

Hammy,
A salvage title has more to do with the cost to repair the car VS the value of the car. I don't think it has anything to do with the registration. Salvage titles are usually put on by insurance companies when cars that are damaged beyond their worth are resold. Just my $.02 and I'm probably wrong.
Phatnine11

Salvage title means the car was a total loss from the insurance company. Getting full coverage may be a chore. And when you decide to sell it, the title issue alone will dramatically cut the price you will get for it. Stay away, unless its too good of a deal to pass up.

Also, someone must have rebuilt the car to be road worthy. Depending on the type of loss, you may have big issues down the road (accident, flood damage, etc).

And if you suspect flood damage, run away from the car as fast as you can.

Paul

Ok, makes sense. How come so many sellers claim they salvaged it due to back registration fees? Plain dishonesty?

Their stupid or lying. Do a carfax, that should show the type of loss

But if you get it cheap enough and you don't want full coverage it could be worth buying it. If anything just for the value (cost to what you get) of newer reliability for the new family (if it checks out). Get a carfax

Why would they salvage (total) a car over past due reg.? Sounds fishy to me.

Get a jetta TDI

Mike

Jetta TDI's are nice! But she's currently has an '03 2.0 Jetta she's tired of and wanting something else.

Salvage over past registration sounded way fishy to me too, which is why I had to ask. Lots of dishonest folks these days!!!

Oh yeah, if the buyer wants to finance the car, they are probably going to be in a world of hurt.

The batteries went dead on my Mom's Prius. Insurance company totaled the car and salvaged it. That car gets sold at auction to someone that replaces the batteries and sells the car to your buddy.

Salvage Title...

Then that scenario would be the safest purchase (next to a stolen/recovered car). Keep in mind insurance, financing and resale value

Hmmm. I worked at Toyota for a while and those batteries are pricey when they go out.

There would be no financing. Just cash.

How much more for insuring salvaged title? NOT full coverage, no financing.

If liability only, no change in price as they wouldnt be paying you to replace the car - you would be on your own there. And for a liability only policy they don't check your title

Interesting. Thanks for the great info everyone.

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.

I bought a 2001 Powerstroke last year.
Best I can tell its the value vs. the repair. But there has to be a formula of some kind.
This truck had a trade in of $14k. It sold at an auction in Seattle for $6600. Changed hands again here in PDX. This guy fixed it for $2000. I bought for $8800.
Because of the stigma. I'd only buy a salvage titled car unless you plan to keep it till the wheels fall.
Going to be a challenge with the truck. I'm looking for 550k miles. Bought it with 88k.
Just turned 102k.

I agree with driving it until the wheels fall off. A salvage title car with little or no history is a non-marketable car IMHO.

Pay more and get a clean title if you think there's any chance you'll want to sell the car in the future...

Well put. It's all about benifitting the insurance co. But whats worse? A newer car thats worth $20k that had 10k damage (having a non salvage title), or a lower dollar vehicle that had a minor repair that brought it past the inurance co.'s value to cost and is now a salvage? I own 2 old rabbit p/u's... the one that has a salvage title that is tighter than the everything original one, I can't even find any damage.

Salvage may be worth buying to drive the wheels off? Not so sure about a sissy prius tho...

Mike

You need to check with your agent, but some companies will not insure a salvage title.

Yeah, you wouldn't want to end up with a car that has the floorboards rusted through, the frame rails rusted through, the suspension ears cracked, the rear brakes seized, a two foot square hole in the front trunk for a long gone air conditioning compressor, doors that won't close, no emergency brake, no heat, no AC....

Prius I know something about.

Don't buy a salvaged Prius. It is a $3500 - $4000 battery pack swap as a minimum. The electrical system is critical and a slight ding in the back can cost big bucks. That's where the car's "normal" 12v battery sits. That battery is a $250 dry cell special, $300 if Toyota installs.

Flip-Side: A "totalled" Prius is as excellent choice for EV components as they are rock solid. The battery pack can still be used if you get a young enough set.

Good Luck.

2nd Prius owner - Ummm, my scientist/teacher wife's 2nd one that is...