Cars can become "total losses" for many reasons, with no way to
differenciate why it was written off by the insurance co. DMV lables them
all as salvage. With a specialty model, it could easily be unavailability
of parts, ie I have a Ford Falcon Squire wagon, and the wood grain trim is
unobtainable. One parking lot scrape, and no amount of money could repair
it (why I have begun to horde NOS woodgrain).
I've also seen middle aged models that have hard depreciation totaled with
little or no damage. A 1997 Escort with 25,000 grandma miles would be
totaled simply if it needed a new front bumper cover & paint, what with
todays labor rates and all.
Insurance shouldn't be a problem, as I wouldn't bother with anything above
comp and collision on a salvage titled vehicle anyway. You'd pay premiums,
but if you filed a claim, the fair market value of a branded title vehicle
would be used to settle any collision claim.
The biggest hang up is that salvage vehicle transactions usually cannot be
financed. It's the banks that have a big problem with them, and the main
reason dealerships hit the trade value so hard.
If it came equipped with factory SRS airbags, make sure it has them now.
The cost of airbags is also a common reason to total a vehicle, and often
the body is repaired, and the steering wheel / dashboard covers replaced,
but no airbag inside.
David Riker
davriker@pacbell.net
http://home.pacbell.net/davriker/
http://community.webshots.com/user/fool4mg
----- Original Message -----
From "Bill Hunt" <Billh at aaai.com>
To: <spridgets@autox.team.net>
Sent: Saturday, April 23, 2005 1:35 PM
Subject: Salvage vehicles could be LBC
> Does anyone own or have experience with salvage vehicles? I'm currently
> looking at a truck that has a salvage title and am wondering about the
> specific issues. I've done some research and haven't found anything
> definitive yet. Here in CA you can register one and this one is but I
> wonder about insuring (plan to call them Monday) and any other issues.
>
> This truck appears in nice shape based on the pictures I've seen so far
> and about 3K-4K less than the going price. I may go look at it tomorrow
> and determine that in person though.
>
> TIA
>
> Herby
> 63 MKII Sprite (Herbytoy - patiently waiting)
> 62 MKII Sprite (the "resto-mod" driver)
> billh@aaai.com
> www.herbytoys.com
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