Salvaged Cars: what do I need to know to live with them?

Give me the skinny on salvaged cars

Insurance? Financing (if possible)? How to tell if the repairs are decent?

Any advice would be appreciated.

Thanks.

Case by case basis. If you can see pre-repair photos it helps alot.

As well state by state. Some states couldn't care less, others require a special inspection before allowing them back on the road.

On the other end, when you go to sell it some day, buyers can be squirrels. Many seem to feel entitled to the likes of a 90% discount simply because it was wrecked previously.

Insurance is varied, check with your carrier. Most will insure it for liability only, but not comp/coll. Some won't insure it at all, others will write it for everything. Just be sure you understand that if you do get full coverage, the value will be significantly less...like 40-50% less.

Finance...very unlikely. Most banks want no part of them.

Repairs. If it was a newer car that was hit hard enough to total, you may want to take it to a shop you know/trust to have the check it out for repair quality if you're not 100% confident to do it yourself. If it's an old car, then cosmetic damage could total it, so use your discretion.

Also be sure you understand the laws of your state. Some states won't allow them to be titled/registered.

"Why" is a big factor too. Many people (pretty legitimately) argue that you can never truly "fix" a flood car, for example.

foxtrapper wrote: As well state by state. Some states couldn't care less, others require a special inspection before allowing them back on the road. On the other end, when you go to sell it some day, buyers can be squirrels. Many seem to feel entitled to the likes of a 90% discount simply because it was wrecked previously.

I think I may be one of these squirrels. No, I don't want to buy a salvaged car and deal with all the BS unless I can get it for about 90% discount.

Not that I get my kicks by insulting people selling their cars, but I ask before I go, and on the rare occasion that a seller says not salvage and I go only to find it clearly is, then I don't feel bad with an extreme low-ball.

Progressive insures them no problem, state farm and geico will not.

On an older car the value is not as negatively effected as on a new one. Take lots of photos of the repairs, it makes selling one easier.

Florida requires an inspection after car is fixed. It is very basic, essentially they check the VIN. They charge aprox $85 to process the paperwork and inspect the car.

rcutclif wrote: I think I may be one of these squirrels.

We're likely talking at cross purposes.

I agree with you with regards to wrecks pulled from the junk yard and claiming "lost title".

I was referring to my own totalled vehicles that I've had on the road for years since, fully legal and driveable.

I've got a salvage car. It was well repaired and the only downside was that someone cheaped out on the replacement headlights. I've fixed that and we're good. It's a bit liberating, actually. When my wife clobbered a curb on a wet roundabout and damaged the nose, it wasn't that big a deal. Insurance was easy enough, I just asked my broker. The purchase price was not 10% of a non-salvage car, but it was a decent discount.

One of the most famous Miatas in the world has a salvage title. It's been called "the best car I've ever driven" by several magazines. Nobody's ever realized it was a wreck.

MX6 has a salvage/rebuilt title. Insuring it isn't a problem, it's been under 3 different companies now. I don't know that selling it is relevant, as it would fetch on the very high end of price these cars sell for in the year 2015. So like... THREE dollars.