There is no difference. Honestly, it's a sales technique. Salvage has become such an ugly word that people say rebuilt title now. It also depends on what state you're in. Some states call them rebuilt titles. In TX, they are salvage titles but under the notes section, it says rebuilt. Only three kinds of titles now. Clear, Salvage, and Non-repairable. Clear doesn't mean it has never been in an accident or is even a good car. Clear just means that no major repairs (totalling) went through insurance. Salvage title is very broad. A car could have been flooded, accident, theft recovery where the insured was payed off before the car was found, or things like that. Non-repairable is just that. You might be able to repair it but you won't be able to reassign the title in USA. These cars that are fixable are often sent out of the country. Look at the car as you would regardless of title just to see if the car is any good. If you decide the car is good enough to buy, then negotiate and use the title to your advantage. Unfortunately, with high demand cars, the discount is a lot less than a typical under $10K car. In all honesty, with a clear title car, you never know what happened to it and how long the parts will last. With a salvage title car, the car was just inspected, repaired with brand new parts or an equally good used part. If not for resale value, I would say the salvage car is your better bet. Also, salvage cars usually can't get any kind of bank financing so we sell them as cheap as possible since it is going to a cash customer. In theory, wouldn't you rather have a car that you know what was wrong with it and know that it has been repaired to "like new" status than a car that you have no idea what hell it has been through? Some people have a preconceived notion that "salvage" means bad. I sold a 2001 Ferrari 360 with 1200 miles on it for $110K in CA. He could have bought one himself back then for $150K but he knew he was getting a good deal. I bought the car for $83K. I figure if you can get a $28K 350Z for $20K, you did good.

 

TK2005
thx really good info good help

 

Personally, I'd pay about 50% of retail blue book... roughly.

 

I believe salvage cars can't be insured. I tried to buy a commute car that has a rebuilt/salvage title, my insurance agent said they wouldn't cover it.

 

wow in what state was that?

 

I have owned 3 salvaged cars (Integra, Prelude, Z) all have been insured! Mercury will pay roughly 50-60% of fair market value. When inspecting your car, Mercury will draft you a quote of the fair market value based on the condition of your car. If you agree to the amount you sign and thats all! Be aware that the insurance co. will bill you as if your car was never in an accident. On the Z I got quoted $16,500 for a 2004 Base 11k miles, and pay $110 a month for full coverage on a $500 deductable.

And my Z runs just as good as it did before the accident. The key is to do it right at a low cost. Dont listen to anyone if you can a good deal. I paid $5000 for the Z and spent another $6000 to fix...thats a total of $11,000 and its insured for $16,500...I think its a great deal! How many of these guys can say that!

 

yeah thats a great deal man. where did you buy it from auction?

 

Exactly! And that's precisely the reason you don't pay good money for it! Yes, it could have been simply a theft recovery... but, as a buyer, you don't know that for sure. It could have just as easily been sitting at the bottom of the ocean.

No, as a buyer, you probably don't. But, any professional appraiser worth their salt can tell you if it was in any kind of accident.

Wow. Spoken like someone who sells them. How the heck do you know this car was repaired that well?? You don't. This thing could be held together with chewing gum and paperclips for all you know. They could have used parts off a used Z from the junkyard with 3 times the miles.

Better bet? Better bet than another low mileage car that has all the original factory parts on it?? You've GOT to be kidding!

I don't think I need to point out that there is a BIG difference between a Z and a ferrari. And there is a BIG difference between saving $40K and $8K. And there are probably more used Zs for sale in my state alone than there are 360s in all of the US. You also found the right buyer for the right car. I can only hope he is as lucky when he wants to resell that ferrari.

 

50%?????? what if it was just a fender bender and it was in perefect condtion all the parts were new? its still the same car, only a little paper that says rebuild

 

I can see people's points of view. My view is of course biased to my business. Whoever bought a rebuildable Z for $5K stole that thing. I almost never see one go through auction in TX. The nice rebuilders go over $10K. You got a great deal. I fully intended to get my Z through auction but seeing how I am going to be using it as a personal car, I wanted it my way. It's hard to find the color and trim you want when you only see a couple a month. Though some people do throw cars back together with "gum and paper clips", most people building cars that have an initial investment of over $10K don't do business like that. I guess I have my clientele and they trust me enough to tell other people about me. I am not one of the rebuilders that glues cars back together.

 

CARFAX is my response to most of that. CARFAX will let you know what happened to the car.

 

You stole that car...luck SOB.

 

Doesn't carfax (when it DOES tell you anything about the car - don't get me started on that) just tell you if it was totalled by insurance company? Does it really say "car found at bottom of Hudson River, then totalled by insurance"??

 

Well, good, I'm glad we agree. Bottom line: unless you know what you are doing or have someone in your stable highly experienced with this stuff, you should not buy a salvaged car.

As far as price .... as others have said, we were asked what we would pay. Considering I never keep a car very long and resale is VERY important to me, I wouldn't pay much at all for a salvaged car because i'm going to have a HELL of a time trying to resell it.

 

Ha....ha... I did!

Believe me when I say my car didnt look appealing when I saw it at the auction. The whole front end was missing, bumper, support, radiator, condensor, horns, lights, fenders, wheels, the whole right suspension along with back bumper, support, tail lights, rear hatch was damaged, wing, driver side mirror was broken......needless to say it look jacked!

In all..it was mostly cosmetic damaged and replacing new parts with some front end damaged, but what I think finally took it to salvage title was the missing air bags. I also had help with my auto body shop who gave me 30% off all parts bought from the dealer. Very cool guy!

 

In 2000 I bought a Salvaged 1998 integra gsr with 7000 miles for $9000. I totaled it 8 months later and my insurance paid me $12,500 for it. It was never involved in an accident before that but the motor was on a pallet when i bought it. They put the motor back in it and it ran just as good as any of my friends cars. As far as I know state farm will insure it just like a regular car. It was my first car and I didn't care. I never knew I was gonna make 3500 off the deal. If I had the opportunity to buy a second Z. I'd buy a salvaged one just so I can beat the sh*t out of it!

 

lol same thing happend to me with Integra LS

 

Well said....but if you chose not to beat the crap out of it, it can also serve as a great daily driver!