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I've read a lot of different things from sites off of Google but haven't really found a consistent answer. I'm looking for an LS1 powered car and I've been seeing some of these go for cheaper than normal prices, so there has got to be a reason. Anyone have some insight?
A car that has been totaled then is rebuilt. Basically thats it. If its inspected by the state patrol and then titled and taged, then it should be a safe vehicle to drive. But most people steer away from them.
They are drastically less valuable!
oh yeah and that.Quote:
Originally Posted by 9t8z28
Well, I'm 17 and money is tight so would this be a bad idea? I have my eye on an SS going for 13k with only 30,000 miles but looks beautiful. So yes or no?
Another note: someone told me "Rebuilt" means that the car was not paid for by the owner and the title was taken by the bank. After the title was taken the owner went to the DMV and got another title by saying that they lost the original. Basically being a stolen car. I have no idea if thats true or not, just what someone told me.
It means you own it for life unless you want to sell it for dirt cheap. In some states you can get a reissued title to get rid of the salvaged one...not in CA though.
That is not true!
13K for a 30,000 mile SS is waaaaaaaaaaaaaaaaay to much!
I would give em 4-5K
I got mine for 6K with 120,000 miles!
Ask the right questions like...Quote:
Originally Posted by LS1Powerhouse
Where was it hit?
What repairs were done?
Has it been inspected by the State?
And is it licenced?
Quote:
Originally Posted by 9t8z28
its a 2002 :) I don't know if that changes anything or not?
Nope, they are asking to much!
THAT is a bunch of BS!!
(In California) Anytime a car has a frame damage of up to 60%, its considered a clear title. 60% or more frame damage and it has what is called a "salvage" title. It is my understanding that they do not salvage stolen vehicles. Because stolen/vandalized vehicles can have new interiors, etc...and be resold for what they are worth. 99% of vehicles with "rebuilt" or "salvage" titles have been in wrecks or have been storm damaged, flood damaged, smoke damaged, etc...
The value of these vehicles is SIGNIFICANTLY less and once you buy one, it will be next to impossible to sell it for what you paid for it.
BUT, if you plan on just keeping the vehicle, I don't see why you would care. As long as you go through it with a fine tooth comb. Make sure that the airbags were actually reinstalled. Check to see if there is rust under the dash areas and/or under seats or in trunk. inspect underneath for welding, etc...
Be sure that it is safe to drive and inspected.
But really, its not worth it. For what you will spend on it, you can get a decent used car with the same options. Don't be impatient.
Not just frame damage..anytime a insurance company deems a vehicle "totaled" it is also a rebuilt title if someone buys it and repairs it. A vehicle is usually considered totaled when the damage repairs exceeds 80% of the vehicle value...but that varies depending on insurance companies.Quote:
Originally Posted by Anthracis
r-title can also mean theft where they stile the car took the rims and stero...
so... it doesnt' mean shit... you just have to check the vin!!!
Salvage can be issued for nearly any reason. Theft,Collision,Vandalism,Flood, anything.
In our family we have the 05 hd 2500 never had ANY damage but a stolen rear seat, thats salvaged, 02 civic we bought with 10k miles zero damage its salvaged due to theft and being missing over 30 days, 05 gmc sle salvage I bought with 8900 miles missing the rims stereo,seat, an 05 GTO with 100 percent factory panels and paint that I bought with no motor.and a 02 Hardtop camaro that was recovered with no motor and trans.None of my shit looks salvage guarenteed.
I tell you a 2002 SS is in the higher teens/20k mark still 13k is reasonable IF it hasn't been in a FLOOD or had half ass repair work.Put it on a lift,look at the floors,look in the crunch areas by the fuse block etc,look in the hatch pull the carpet quarter covers and feel for dents etc. these cars are famous for having buckled roofs, check the doors if they pop or shut poorly, you know the shit is junk, FWIW you're smoking blow if you think the cars worth 6k, I sell all salvage when I'm done for 75 percent of retail book and have NEVER had a issue.Only people who dont like my salvage is broke asses with no cash.
Quote:
Originally Posted by sercastiK
I agree 100%. You have to be careful though. At least in my state, the car doesn't even get inspected. The police officer signs the paperwork and goes about his/her business. Take someone you trust to look at the car with you. I would say 75% of retail is a fair number. I've owned "rebuilt" vehicles before and have never had much of a problem moving them.
I have a rebuilt title for my 99Z. It was in a front end collision, but not even the headlights were busted. A plastic piece in the intake busted and siezed the motor. That and along with the front end damage, the insurance co. decidied to "total" the car. I got it pretty cheap and rebuilt the motor and got a new front clip and hood, everyhting else is mint! Don't be affraid of a rebuilt title, just do your homework on the car. And as far as reselling the car, if you mod the car out, your never going to get the full value of the car anyway.
If you buy it, plan on keeping it
How much are these cars gonna be worth in another 2 - 5 years???
As long as it wasn't a flood casualty & the price is right I say go for it.
If it were a 75K car I'd think differently, but F bodies are old now & aren't worth more than 5-7K
No bank will loan more than that on a car that old either.
Is there anywhere online i can check prices for a rebuilt? Or can someone give me a rough estimate of what they'd pay for one? Its a 2002 Black Camaro SS. 30k Miles. Full Options. Auto Tranny. Looks Great. I plan on test driving it soon so lets just say that everything is mechanically fine with it. So what do you think?
Quote:
Originally Posted by LS1Powerhouse
Read above. I wouldn't pay more than 75% of retail. Some will say that's too high.
Instead of retail pricing, take 25% of wholesale pricing. I would not pay more than 10k for that car - and only if you plan to keep it a while, because if you sell it, you must disclose the fact it has a rebuilt title.Quote:
Originally Posted by superfastls1
eh Dan, that is light on the money, I have banks that loan 75 percent of retail on my shit. fwiw. my family has done several 100 salvage cars I have a statement of facts on EVERY car signed by the purchaser, If you sell a rebuilder with no SOF you are a fucking crook..
Statement Of Facts?
statement of facts is just what it says, it's a formal paper I use to state the repairs,previous hisory of a salvage car.