| Author | Message | ||
| wayne skiles (Bad_tt)
Junior Member Username: Bad_tt Post Number: 112 Registered: 8-2002 |
Eric I'm in Calif also. The car does not literally have to go to a wrecking yard to be salvaged. Think you know that right buddy? | ||
| Charles J. Ligon (Exoticbro)
New member Username: Exoticbro Post Number: 17 Registered: 4-2003 |
Peter, I agree, with the high price of parts and labor, These cars do not have to sustain a lot of damage to be written off. Also when you figure the time to acquire parts and providing a vehicle. The $$$$$$ adds up quickly. | ||
| Erich Coiner (Erich)
New member Username: Erich Post Number: 16 Registered: 9-2003 |
In California, the car does not get a salvage title until you try to bring the car back out of a wrecking yard. You wreck a car, the insurance company decides that it is a total loss. They pay you off, and sell the carcass to a wrecking yard. Somebody, probably the wrecking yard notifys DMV that VIN such and such is gone for good. Now somebody comes along and buys the carcass, and fix it up. Before the car can be reregistered it must be inspected for safety and the CHP must assign a new VIN. Once now you go back to the DMV and get your licesnse plate, registration AND a salvage title. The car is now registered under the assigned VIN not the original. I would avoid a salvage title like the plague too many good cars in the world to take a chance on one. | ||
| peter brinzey (Ferraripete)
Junior Member Username: Ferraripete Post Number: 126 Registered: 11-2002 |
just a note...with the high price of parts and labor, even a slightly damaged 308/28/48 and testarossa can be easily totaled. with low cpi valuations of these cars , it is easy | ||
| wayne skiles (Bad_tt)
Junior Member Username: Bad_tt Post Number: 110 Registered: 8-2002 |
Arlie No salvage is the term Ins co's use when damage to repair is too great. They wanted to salvage A CAR I HAD that had an engine fire. It was only after I proved car was worth morethan they estimated did they relent and just paid the 31k it cost to repair it. bY THE WAY carfax TURNED NOTHING UP ON THIS CAR regarding the 31k repair! | ||
| wayne skiles (Bad_tt)
Junior Member Username: Bad_tt Post Number: 109 Registered: 8-2002 |
You are not supposed to be able these days to do that. switching from cetrtain states to other certain states used to work.If an insurance company calls it salvage the only way to "unsalvage" it is to getr that insurance company to file paperwork saying the really isn't salvage. GETING them to do that is near impossible for legal liability reasons. | ||
| Horsefly (Arlie)
Intermediate Member Username: Arlie Post Number: 1542 Registered: 5-2002 |
Perhaps "salvage" is the wrong term to be using. The term "total loss" is more applicable. A bad wreck would require more money to repair than the car is worth. Thus, a "total loss". However, a stolen vehicle would also require the insurance company to pay for a "total loss" because the car is totally lost! But if it were recovered, as some have been, it might not have any damage. So the car is still branded with the stigma of a "total loss" title. And then there are "flood damage" titles. And "previously damaged" titles. It seems that every state has it's own rules. The waters are murky. | ||
| Erik (Teenferrarifan)
Member Username: Teenferrarifan Post Number: 387 Registered: 2-2003 |
Can you change a car back once it has been salvaged? Is there anyway to keep an insurance company from salvaging a car? Erik | ||
| wayne skiles (Bad_tt)
Junior Member Username: Bad_tt Post Number: 107 Registered: 8-2002 |
I have insurance with USAA. I called in my new 348TS for coverage yesterday. They asked me if it had a salvage or clear title? Of all the cars I've ever insured with them (about 58) they've never asked me that before! I told them no it was clear but would they have covered it if it were a salvage title car? The girl said yes but if there were a loss that would be taken into consideration. These guys are learning the hard way I guess? | ||
| Nibblesworth (Nebulaclass)
Member Username: Nebulaclass Post Number: 721 Registered: 11-2002 |
My 0.02 : If I found, say a 308, 328, 348, or an older TR with a salvage title, I'd probably buy it assuming that: 1. Whatever damage resulting in the salvage was fixed 2. All electronics were checked out 3. All engine components were checked out 4. Chassis was not bent Assuming the above was in order, I think I would prefer a salvaged title. Why? 1. Initial cost of ownership is much lower 2. Because the resale is essentially already shot, I would be much more at ease with driving the living turd out of it. Just my opinion, of course. | ||
| George Pavlisko (Lrpman)
New member Username: Lrpman Post Number: 50 Registered: 10-2003 |
AMEN Sunny. My dad would look for salvage titled cars for parts to fix clean cars. Then scrap the parts, donor, car. One of our 300zx was a Florida Salvage then to MO. then to Ga. then back To Florida as a clean title. Mylegal begal chased it down. | ||
| Sunny Garofalo (Jaguarxj6)
Intermediate Member Username: Jaguarxj6 Post Number: 1011 Registered: 2-2003 |
Buy to drive, unless you have an Enzo and my lawyer contacts yours. Especially if the salvage title is an off color  Titles can be cleaned. The odds are not stacked in our favor. There have probably been some "clean title" cars sold that were formerly salvage in another state bought by unsuspecting buyers. If it was a one owner car with a comprehensive repair history from new, I'd consider one. | ||
| Jeff Green (Carguy)
Member Username: Carguy Post Number: 594 Registered: 10-2002 |
That's a heck of a good question Arlie! I know it's been discussed before and opinions vary. But I wouldn't be afraid to buy a salvage car if it's in proper order. Or a theft-recovery either. The key words are PROPER ORDER. Just have to buy at the right price. I dealer friend of mine was down south at an auction, and saw a '01 360 that was a theft recovery with less than 10k miles and appeared mint. The guy was asking $90k for it, and nobody bought it. I'd say that was a pretty good deal, but everyone seems to worry about resale values instead of driving and enjoying the car. I too am interested in what other knowledgeable Ferrari people have to say on this subject. | ||
| Horsefly (Arlie)
Intermediate Member Username: Arlie Post Number: 1541 Registered: 5-2002 |
The thread on Daytona prices contains debate concerning the prices of pristine "low milers" to ragged hulks needing restoration. Certainly some damaged Ferraris will inevitably end up with a salvage title. What's the concensus on the situation of salvage titled cars? Avoid like the plague? Depends on the damage? Let the car's condition speak for itself? Or does a salvage title put an indelible black mark on the car's history from which their is no escape? Or does it depend on the model? Salvage titled Daytona is acceptable, but not a salvage titled 308? What about a Testarossa or 348? What's the word? |