[DeTomaso] Salvage title
MikeLDrew at aol.com
MikeLDrew at aol.com
Tue Oct 21 12:53:46 EDT 2014
In a message dated 10/21/14 0 52 53, gudmundfroiland at yahoo.no writes:
> Is there any on this list that know how to get a car back on the road
> when the car has a salvage title? Thanks
>
>>>The rules differ from state to state. In general though, there is a
process whereby a car that has been salvaged by the insurance company can be
demonstrated to a competent authority to be mechanically and structurally
sound, and then that car can be registered for the road, and fully insured.
You'd have to investigate the procedures for each state.
One of the ways a 'good' car can be salvaged is by an owner failing to
insure it properly. For instance, let's imagine a guy is trying to save money
so he only has his Pantera insured for $10,000. He gets into a minor
accident that damages his front fender. If repair costs exceed 80% of the
'value' of the car, the insurance company can declare it a total loss, pay off
the owner, and then the car becomes salvage. Now, he (or somebody else) can
buy the wrecked car back from the insurance company, and repair it, but it
will always carry the 'salvage' mark.
I've seen a couple of really beautiful Panteras that had salvage titles for
this reason. One of them suffered an interior fire; it was a very simple
matter to replace the dash, center console, carpet, seats, headliner, wiring
harness, gauges etc. It hardly even damaged the paint. Yet that car (a
'74 USA GTS, that was repainted solid red) was on a salvage title. The
owner had a difficult time selling it but eventually somebody saw the car for
what it was, not for what the paperwork indicated, and paid full price for
it.
Bottom line is, a perfect Pantera can be on a salvage title, and a total
rustbucket POS can be on a clean title. The condition of the car is the only
thing that's really important.
Convincing the authorities of that is a different matter though....
Mike
-------------- next part --------------
In a message dated 10/21/14 0 52 53, gudmundfroiland at yahoo.no writes:
Is there any on this list that know how to get a car back on the
road when the car has a salvage title? Thanks
>>>The rules differ from state to state. In general though, there is a
process whereby a car that has been salvaged by the insurance company
can be demonstrated to a competent authority to be mechanically and
structurally sound, and then that car can be registered for the road,
and fully insured. You'd have to investigate the procedures for each
state.
One of the ways a 'good' car can be salvaged is by an owner failing to
insure it properly. For instance, let's imagine a guy is trying to
save money so he only has his Pantera insured for $10,000. He gets
into a minor accident that damages his front fender. If repair costs
exceed 80% of the 'value' of the car, the insurance company can declare
it a total loss, pay off the owner, and then the car becomes salvage.
Now, he (or somebody else) can buy the wrecked car back from the
insurance company, and repair it, but it will always carry the
'salvage' mark.
I've seen a couple of really beautiful Panteras that had salvage titles
for this reason. One of them suffered an interior fire; it was a very
simple matter to replace the dash, center console, carpet, seats,
headliner, wiring harness, gauges etc. It hardly even damaged the
paint. Yet that car (a '74 USA GTS, that was repainted solid red) was
on a salvage title. The owner had a difficult time selling it but
eventually somebody saw the car for what it was, not for what the
paperwork indicated, and paid full price for it.
Bottom line is, a perfect Pantera can be on a salvage title, and a
total rustbucket POS can be on a clean title. The condition of the car
is the only thing that's really important.
Convincing the authorities of that is a different matter though....
Mike
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