| Author |
Message |
JRV (Jrvall)
Intermediate Member
Username: Jrvall
Post Number: 1506
Registered: 11-2002
| | Posted on Wednesday, May 21, 2003 - 1:39 pm: | |
Taek,
The title doesn't change. The car will be on a Clean Original Title (or whatever type title it now has). Just like a new car title. The states vary as to what the Title looks like appearance wise. In Texas for example it's a large watermarked document of title. But the documents themselves do not change from one type catagory to another.
As far as Ins. goes, it will have to be changed by the owner from the original pre-resto "covered value" (ie:purchase price) to a "stated or replacement value type policy. On old cars this is SOP to require coverage for "Stated Value", because of market fluctuations or difficulty finding relivant value data that an insurance company will accept.
A good company for high dollar old cars is J.C. Taylor & Co. classic & antique auto insurers. |
Taek-Ho Kwon (Stickanddice)
Member
Username: Stickanddice
Post Number: 460
Registered: 11-2002
| | Posted on Wednesday, May 21, 2003 - 1:25 pm: | |
Reading through the ebay 348 thread got me thinking on something.
If I purchase a restoration project and bring it up to concours condition, how will this thing be titled? I don't think a buyer for this type of car would generally care, but I'm just anal retentive like that. It's not for carfax reasons either since the car is too old to be on carfax on the first place.
Just wondering when it comes time to registration, insurance, etc.
Cheers |
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