buying a car with salvage title?

[Twistid 5,000+ posts]

ive been looking at buying a new(er) accord... 02-04 accord... i can find lots with low miles... usually around 50k for only about 10k ... most with nice packages, leather, 3.0 v6, moonroof...

considering the car has been "ebay inspected" and completly repaired, any reasons not to go with a salvage title? would it have different insurance rates than a non salvage car?

i just love the look of the 02 accords with the nsx type lights, or the newer ones with the triangle type lights (both coupes of course)

Click to read more...

 

[maldecido33 10+ year member]

I didn't think you could get full-coverage insurance on a car with a salvage title.

 

[Twistid 5,000+ posts]

no full coverage? dont you have to have full coverage on a vehicle if your still paying for it?

 

[mtlhead 10+ year member]

I didn't think you could get full-coverage insurance on a car with a salvage title.

why not? thats just giving more money to the insurance company...and them screwing you in the long run by saying, oh well we'll give you this much money for your car (if it gets totaled) since it was a salvaged title

...thats probably not what really happens...just saying its more money for an insurance company, and they would probably be stupid not to let u do full coverage

 

[maldecido33 10+ year member]

Might be that you can't get collision... My girlfriend was in a similiar situation recently. Wrecked her car, the insurance sayed it was totalled. They were going to buy it from her for $x,xxx and then let her buy it back cheaper with a salvage title, but said they would no longer off collision insurance for it; only liability.

I'd call your insurance company.

 

[crunktimes.com 5,000+ posts]

You might have trouble getting a loan with anything that has a salvage title, I don't know this for a fact but would imagine it is one of those things they probably don't do.

 

[Twistid 5,000+ posts]

my parents said they would take out a loan and pay it for me until i ship out (then i have to pay them back what they payed) ... or i can buy my moms land rover since i backed it into a pole and messed up the bumper but i dont want a v8 that gets like 15 mpg , so its not a problem of getting a loan, they would get nice rates

 

[Propimp 10+ year member]

i tried buy a car with a salvage title and my CU would giove me a loan for it.

 

[jiggy2dmax 10+ year member]

You can insure a salvage car once its been inspected in your state. You can't get full coverage, the warranty is void, and no bank will give you a loan for it.

Depending on where it got hit, a salvage car can last just as long and be just as reliable as any other used car. If it was hit on the side, the quarter panel, rear , etc, and the body work was done correctly, it may be a good buy.

 

[rtillaree 10+ year member]

in many states you cannot carry full coverage on a salvage vehicle, collision only, no comprehensive...(full coverage has nothing to do with warranty, has to do with vehicle reliability based on the insurance safety board)...also very few finance companies will approve a loan on a salvage vehicle, nationwide.

however you can take out a personal loan and use that money for the vehicle as neither party will have issue with that...if you can get a personal loan that is, which you said your parent would be getting, so no prob really...

in a handful of states you can repair the car to prior loss condition, meaning that you can fully repair the car and have it re-certified and then the salvage brand comes off the title, this only works in non-rollover cases...

i'e re-built tons of totals and had many salvaged vehicles and it's ok for someone like me who just drives them to drive them and not really worried about losing them...but if your average joe and your car is stolen, or picked up in a tornado, your SOL and many people cant afford that type of hit...

it's best in most cases to just avoid the salvage cars unless your capable of taking that risk...

basically salvage cars = good for second/third car but not good for primary...

 

[Safe-N-Sound215 10+ year member]

i tried buy a car with a salvage title and my CU would giove me a loan for it.

//content.invisioncic.com/y282845/emoticons/wow.gif.23d729408e9177caa2a0ed6a2ba6588e.gif

Translated to english:

I tried to buy a car with a salvaged title, and my Cu wouldn't give me a loan for it.

 

[jiggy2dmax 10+ year member]

Do you know what state he lives in? Because not all states even have car inspections.

No, but if has been reported to the insureance company and your buying it off a lot, they do need to inspect it before retitling it. Many cars will have stamps on the inner parts of the fender after being inspected.

 

[jiggy2dmax 10+ year member]

I just did a search on Craiglist and for around 12k you can get an Accord in the condition your looking for, although I searched NY's craiglist the price difference shouldn't be too off.

For 2-3k savings, its not worth buying a salvage car.