Edmunds Answers

Voted Best Answer

  • avatar MrShift@Edmunds 09/27/08 5:09 pm PST

    1. Severe depreciation in value, up to 50% of current book value

    2. Possibility that your insurance company may not insure it, or may challenge a claim even if they insure it.

    3. Voided factory warranty is automatic.


    So in other words:

    1. check with your insurance company

    2. pay a drastically reduced price from book value

    3. Find out exactly why it was totalled. No info, no sale. If it was stolen and stripped, that's not too bad. If it was flooded NO WAY. If it was in a wreck, well you'd need to know how bad.




Answers

  • karjunkie 09/27/08 5:09 pm PST

    Well, it depends on why it has a salvaged title. It could be from theft, flooding, a wreck. A salvage title just means that they car was declared a total loss by the insurance company. In some cases, that is just because it cost more to repair than the book value of the car, even if the repairs were purely cosmetic. Also remember that to register it, insure it or to use it on public roads, it has to go through a state DMV inspection which in many cases is a huge pain in the butt. Probably the worst thing about salvage title would be the resale. You would get virtually nothing for it if you try to resell it. Just be careful on buying a salvage title and make sure your own independent mechanic checks it out completely and you run a Carfax report at a minimum before you put any money down. Look at everything and know of what your getting into.

  • MrShift@Edmunds 09/27/08 5:09 pm PST

    1. Severe depreciation in value, up to 50% of current book value

    2. Possibility that your insurance company may not insure it, or may challenge a claim even if they insure it.

    3. Voided factory warranty is automatic.


    So in other words:

    1. check with your insurance company

    2. pay a drastically reduced price from book value

    3. Find out exactly why it was totalled. No info, no sale. If it was stolen and stripped, that's not too bad. If it was flooded NO WAY. If it was in a wreck, well you'd need to know how bad.




  • bucket2 09/02/09 8:44 am PST

    in all realityparts may go out every now and agin me i buy car before other people junk the cars are not that hard to work on your self most of the time your parts r cheeper

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