Comment still stands at $15.5k.
Tree Fell on my 04 100 series. What would you do? (1 Viewer)
- Thread starter WhySo100Serious
- Start date
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hoser
SILVER Star
Don’t forget local or CA vehicle.
Take the money and run- you don't want to mess with a rebuild. Just my $.02 but I've done that before and it was a hassle.
Who told you the title would be labeled as "Salvage"?
Unless you have some odd rules where you live the title would still be labeled as "Original" and a "Total loss" would likely show up on a Carfax.
I've had two vehicles that were total losses that we kept and repaired. The only time the vehicle should be labeled as "Salvage" is after you hand the vehicle and title to your insurance company and they sell it at a salvage auction. Unless things have drastically changed, this should still be the case.
Unless you have some odd rules where you live the title would still be labeled as "Original" and a "Total loss" would likely show up on a Carfax.
I've had two vehicles that were total losses that we kept and repaired. The only time the vehicle should be labeled as "Salvage" is after you hand the vehicle and title to your insurance company and they sell it at a salvage auction. Unless things have drastically changed, this should still be the case.
They would need a rebuilder license and certification through the state to bid at an insurance auction.
For about 90% of the US, if an insurance company pays a claim on a total loss vehicle, the MVD will instantly change the title to a salvage. The reason for this - techincally the insurance company buys your vehicle and sells it back to you. Insurance companys do not have a vehicle dealer's license, so by law they can only posess vehicles with salvage titles. Any time the insurance company takes posession of a vehicle it will have a salvage title. Every time an insurance company pays out on a total loss claim, the vehicle will have a salvage title. There are a few states with weird dealer laws that dont require the above process, but since there are only a few insurance underwriters - the process is pretty much uniform.
I have heard of a few cases of DMV mistakes and not branding the title as salvage, but the insurance companies pick up on that instantly when you go to insure a vehicle now that everything is electronic. They pull the claim history on every vin, as well as the MVD records.
In Arizona, the insurance company will not close the claim until the title is changed to salvage. There is 0% chance of getting around a salvage title brand in a total loss claim with a payout as of about 2010.
Both of our vehicles were in Illinois. Took the payout minus the "auction value" and repaired the vehicle myself. I was still able to keep full coverage on the vehicles.
How long ago? Illinois may be one of those states.
Its weird how much it varies with salvage titles. Some states dont even have a "restored salvage" option.
I do need some parts lol let me know lol
That ain’t no damage at all as a body man I buy it back knowing it’s structurally sound. Had the same thing happen to my bike. Insurance totaled it. Paid me out I bought it back for 3k. Fix the body parts boom 5k bike worth 20k. Get it back and fix it. I would.
