Price for a car with a salvage title?
If I buy a car with a salvage title, what should be the typical discount (compared for instance to the Kelly Blue Book value) such that it becomes an interesting deal? Does your answer depend on theft vs accident?
I forgot to mention something: I’m thinking about a car that has (apparently) already been fixed. Another detail: I live in California.
Each State is Different for Salvage Title’s… Find out from your County State Title Office or DMV what Your States Laws are.
I know Texas…
If you Buy a Salvage Car Your buying a Car that has Lost 55% of its value in most cases if rebuilt to full DPS ((Highway & streetable Standards)) Inspection for reinstatement.
If a Car is rebuilt and The SELLER doesn’t get you a clear Title for that car THERE is STILL something Wrong 95% of the time.
You can only Sell a Salvage Title Car in Texas to a Dismantler, Scale, Dealer, Rebuilder with Full salvage statement. If someone sales a Salvage Title car to a person looking for a good parts car You must sign title over date it and Make a “Bill of Sale” Stating FOR PARTS ONLY and Keep a copy for yourself and one for them. This is to protect you.
There are 4 states that will not except Insurance on a salvage title car on the road.
Last if you insure your car and is found to have a salvage title they can bump up your cost or cancel you at that very moment if it wasn’t disclosed when filing for insurance. And they don’t have to warn you. Also Insurance of salvage title car that Can get financed will be 1 1/2 to double more than non-salvage car.
Example
2002 Focus full coverage monthly premium 63.00 for average car
2002 Rebuilt Focus Full Monthly Premium 98.00
This might not help for your state but will give you and Idea.
Amazon.com- Buy Discount and Cheap Price The Power (9781439181782)- Rhonda Byrne- Books online
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