OK someone school me on owning an Auto with a salvage title!

[Killer]

Whats the cons on this?

[Alpha Dog]

Everything, unless your the dealer. Don't do it, unless its for the lease

[Killer]

Ive got an auto that is wrecked and will be totaled. I plan on fixing it up and driving it but will have a salvage title I believe after this.

[LWD]

Resale will be bad. A dealer will give you little for it on trade in; a private consumer will sue you when they find out it's a salvage title after you don't tell them.

LWD

[BTGuard]

IF you do your research a salvaged vehicle can be a heck of a find. IF IF IF! My dad recently bout an 07 dura max extended can with a salvage title for right around 20,000. The only thing wrong with it is the driver door seal doesn't deal quite right. Other then this its in perfect condition. That's probably a 30,000 dollar pickup. A 10 k discount for a door being slightly out of whack is a pretty good deal.

[sharkhunter]

If your planning on keeping the car or truck it can be a heck of a deal. I bought a 2005 Maxima that had only been damaged in the rear. The car was like brand new with only 55k on it. I bought it for 6k and my wife at the time drove it for 5 yrs. You really need to know the extent of the damage that was done and repairs made. I would also have a mechanic look it over top to bottom. I would do it again in a heart beat.

[Charles]

CON: Salvaged Title. If you ever decide to sell you will take a huge hit and have select market of buyers. If you plan on using the vehicle until it can't go no more this doesn't apply.

PRO: Salvaged Title. You should be able to buy it for pennies on the dollar.

[Dale]

Depends. If it is your vehicle and it was wrecked and totaled but still servicable no problem. Just keep in mind that its only resale value after that will be salvage value.

My wifes Intrepid was hit by a deer and totalled by ins. company. We bought her a new car and elected to keep the Intrepid, they did deduct the salvage value from the settlement. I put a passenger side quarter panel I got from a salvage yard on it, and it became my daughters first car. We had no issues getting registration or inspection.

[Killer]

What about insurance coverage on the salvage title auto?

[flyby]

I've had my Tundra for about 6 years with a salvage title.

Original registration was cheaper- due to the lower value of the vehicle because of the salvage title.

Cost for the vehicle was a little over 1/2 of what I would have paid for an equivalent without salvage title.

Zero problems getting insurance on it. Lower insurance rate due to the lower value of the vehicle.

Zero maintenance issues since I've had the vehicle.

Only downside I see is resale when I sell it, but since I paid a lot less for it originally, I don't see the downside. And, I'm not going to sell it anytime soon.

[Dale]

Our insurance company had no issues with it. We just dropped the coverage down from full to just liability as the cost of full coverage was more than the car was now worth.

[firemedic2105]

Several years ago someone I know had a car that their daughter had totalled when she rear ended another car. No frame damage but insurance totalled car due to cost to repair. Bought totalled car back from insurance for pennies on the dollar after getting the settlement from the totalled car. Rebuilt front end himself with salvage yard parts, got it painted, and put it on a $100/square Super Bowl pool as the final prize. Sold out pool and came out way ahead.

All that to say, you have options

[Smart]

Resale will be bad. A dealer will give you little for it on trade in; a private consumer will sue you when they find out it's a salvage title after you don't tell them.

LWD

The title will say salvaged so the private consumer wouldn't win anything..

[C.Read]

My first car was a salvage titled car. 98 Ford Mustang flood car. It had been gone thru, interior cleaned, motor problems fixed. I bought it for $2500 and drove it for over a year, sold it for 2K. That was 14 years ago and still see it in town every once in awhile.

[Killer]

Thanks for all the info guys!