What does Salvage title mean?
- Thread starter prnebs
- Start date
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Back2PA
Well-known member
- Joined
- Jul 26, 2015
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It means the rig was totaled at some point, then purchased and rebuilt. Aside from the problems you might have with such a vehicle you will have significant difficulty selling it, and value will be well below one with a normal title.
It definitely does not mean minor body damage.
It definitely does not mean minor body damage.
JW of Opechee Shores
Well-known member
Be very careful of something with a salvage title. We have had a lot of flooding in the country this year and a lot of units that insurance companies wrote off as totaled but are sold as salvage. They may have gotten water damage that doesn't show now that it has dried out but it will be a problem down the road. Very few salvage ones are from small accidents: they wouldn't be totaled and ones that are damaged enough to be totaled need to be repaired by experts unless you are going to do the repairs and keep it. It will be near impossible to sell later.
JDOnTheGo
Well-known member
I'm no expert but I believe banks will not loan money for the purchase of a salvage vehicle. That may not affect you but it may make it harder to re-sell down the line.
Unless the reason for the salvage title was very clear, the repairs were well documented, and it could be easily inspected; I would not consider it. If it was due to water damage, I would not consider it.
Unless the reason for the salvage title was very clear, the repairs were well documented, and it could be easily inspected; I would not consider it. If it was due to water damage, I would not consider it.
Gary RV_Wizard
Site Team
All of the above are maybe, or even likely, true. An insurer will declare a "total loss" if the cost or repairs + the salvage value (what a scrap yard would pay for it) exceeds the ACV (fair market value of the vehicle before the damage). The owner gets a check for the ACV and the coach is then sold by the insurer for it's salvage value. In many states, the title that goes with that coach is marked "Salvage" or similar wording to denote that the vehicle has been scrapped.
Whether that "scrap" is badly & permanently damaged is not always clear. Often the cost of repair is high because of the huge amounts of labor needed and professional shop labor is expensive (think in terms of $100/hour). Individuals with the skills, or shops that have spare capacity, may buy the "salvage" and work on it as time permits, and it is often possible to completely restore the coach. My Dad owned an auto body shop and always got his own cars that way, buying a "totaled" high end car from the insurer and fixing it in his spare time. He would drive it until another nice one came along and then sell it.
On the flip side, somebody could buy the same salvage and do a quick & dirty repair that leaves hidden parts partially repaired or maybe even unrepaired. That's the risk, and the reason that most states mark the titles as a warning.
So, a vehicle with a salvage title may not always be a bad one, but the buyer needs the skills to discern whether the repairs were complete and safe, or whether some shyster just did quick & dirty cosmetics. If you can't do that, or hire an inspector who can, probably best to avoid such vehicles.
Whether that "scrap" is badly & permanently damaged is not always clear. Often the cost of repair is high because of the huge amounts of labor needed and professional shop labor is expensive (think in terms of $100/hour). Individuals with the skills, or shops that have spare capacity, may buy the "salvage" and work on it as time permits, and it is often possible to completely restore the coach. My Dad owned an auto body shop and always got his own cars that way, buying a "totaled" high end car from the insurer and fixing it in his spare time. He would drive it until another nice one came along and then sell it.
On the flip side, somebody could buy the same salvage and do a quick & dirty repair that leaves hidden parts partially repaired or maybe even unrepaired. That's the risk, and the reason that most states mark the titles as a warning.
So, a vehicle with a salvage title may not always be a bad one, but the buyer needs the skills to discern whether the repairs were complete and safe, or whether some shyster just did quick & dirty cosmetics. If you can't do that, or hire an inspector who can, probably best to avoid such vehicles.
T
TonyDtorch
Guest
a salvage title can also come from a stolen vehicle recovery.
Gary RV_Wizard
Site Team
State laws vary, but generally no. Many states require that the seller disclose any information he may have available, i.e. he is prohibited from hiding any info. However, the current owner may not not have asked, so he won't know and thus cannot disclose it. Less-than-ethical brokers who traffic in this sort of rig may purposely avoid obtaining any info that might be negative, this eliminating the need to disclose it to future buyers.
aguablanco
Well-known member
Call your insurance agent and see if a vehicle with a salvage title can even be insured.
RichH
RichH
BinaryBob
Moderator Emeritus
prnebs said:
No. The only revelation is that whatever damage involved is higher than the ACV of the vehicle.
I was going to mention that occasionally you can find a flower amongst the weeds, but you need to have exceptional skills to know what to look for.
Gary said it better.
Gary RV_Wizard
Site Team
Good point, Tony. If the insurer paid the original owner for his loss and then the vehicle is later recovered, the insurer gets the title and that is generally issued as a "salvage" title. Often the reason is simply procedural, i.e. the insurers and the DMV already have a process set up to do that for total wrecks, plus the salvage title allows the insurer to sell "as is" and avoid any responsibility for the condition, which of course is "unknown" after a stolen vehicle recovery.
Some states and some insurers may have inspection requirements that are in place to make sure a salvage vehicle has been adequately repaired. For the state, "adequate" has mostly to do with vehicle safety factors; for the insurer they want to make sure they don't get asked to pay for pre-existing damage.
SargeW
Site Team
With many insurers the only coverage they will make on a salvage title vehicle is a liability policy. That means that if you or your rig sustain any damage in an incident, you are on your own. I found that out the hard way when as a younger guy I bought a Jeep that was Salvage Title.
Ironically, I had not had it very long when some guy lost control of his vehicle on the freeway in a rain storm and hit me, totaling it. For an RV I would not roll the dice with a salvaged rig.
Ironically, I had not had it very long when some guy lost control of his vehicle on the freeway in a rain storm and hit me, totaling it. For an RV I would not roll the dice with a salvaged rig.
JDOnTheGo
Well-known member
Ohhh Marty!! You're still a young guy!! ;D
SargeW
Site Team
Heck yeah, that is what I keep telling myself!
T
TonyDtorch
Guest
a simple carfax report or a search of the NICB (https://www.nicb.org/) data base should tell you when and why it became a salvage vehicle.
many insurance companies will lower the insured value of the vehicle because of a salvaged or reconstructed title even on a stolen recovery vehicle.
Because of the possibility of recurring liabilities the Insurance company is very quick to end their losses, total the vehicle to be done with it.
there are a lot of good vehicles that get over looked because of the fear of a salvage title. do some research and you could get a good vehicle at 1/2 price.
many insurance companies will lower the insured value of the vehicle because of a salvaged or reconstructed title even on a stolen recovery vehicle.
Because of the possibility of recurring liabilities the Insurance company is very quick to end their losses, total the vehicle to be done with it.
there are a lot of good vehicles that get over looked because of the fear of a salvage title. do some research and you could get a good vehicle at 1/2 price.
grashley
Well-known member
Gary is absolutely on target.
My wife was in a fender bender in my Miata in May. It is 15 years old, but in great shape. The repair estimate was $4200, and the NADA was $5225. TOTAL LOSS!! It busted the left tail light and bent the left quarter panel and deck lid. I settled for $3950 (less than value that required total) and had it fixed with used parts for $3200. If it had been totaled and I kept the car, in order to get my license plates back, it would have to be fixed, keeping all receipts and pass a rigorous state inspection. My insurance would sell me liability coverage ONLY.
My wife was in a fender bender in my Miata in May. It is 15 years old, but in great shape. The repair estimate was $4200, and the NADA was $5225. TOTAL LOSS!! It busted the left tail light and bent the left quarter panel and deck lid. I settled for $3950 (less than value that required total) and had it fixed with used parts for $3200. If it had been totaled and I kept the car, in order to get my license plates back, it would have to be fixed, keeping all receipts and pass a rigorous state inspection. My insurance would sell me liability coverage ONLY.
robertusa123
Well-known member
One insurance wright off
Two stolen and recovered once again insurance wright off
Three. Abbondand
Very riskey to buy. And their may be regerstration problems.
If its cheep enouf and your handey. Could be a deal
If not a supper deal. At lest 50% of blue book
And if you not handey. Run away. Ran fast and don't look back
Two stolen and recovered once again insurance wright off
Three. Abbondand
Very riskey to buy. And their may be regerstration problems.
If its cheep enouf and your handey. Could be a deal
If not a supper deal. At lest 50% of blue book
And if you not handey. Run away. Ran fast and don't look back
Badlands Bob
Well-known member
Run Run Run away from a salvage title. The only way I would ever consider buying something with a salvage title is if I needed it for parts or it was a travel trailer that I could haul to a hunting camp and leave it there forever.
If you want a road legal, registered and insured RV, avoid anything with a salvage title.
If you want a road legal, registered and insured RV, avoid anything with a salvage title.
