Is it safe to go for a used car that has title status as 'Rebuilt'. What else could I possibly lose apart from its resale value ?
Why was it rebuilt? Was there frame or water damage? I steer clear of these types of titles.
Yep salvage, rebuilt, even assembled titles, run away fast
As far as some else to loose, it could be your life if it fails driving down the highway.
If it's an older model it may have been involved in a minor fender bender. Insurance companies generally don't like fixing cars that are over 10 years old. So they total them. Especially if it's not a real popular car. Basically if the cost to fix it exceeds it's current market value it's totaled. For say a 1994 Ford Escort that may mean a $500 repair. Like a hood and front bumper. But on say a 2012 BMW it'd probably be smashed to smitherines before it'd be totaled. Be careful! Personally I wouldn't buy it. The money you save on the purchase can easily be spent on repairs once you start driving it. Run a vehicle history report like carfax and see what comes up. HTH. -Jim
All of these answers are correct ...but as Jim says ...it is the insurance companies that write them off. Repair shops look at insurance repair as a meal ticket & often rip them off. I bought a wrote off Jaguar XK8 for the convertible top & rear window ...which was in mint condition. However; the front end damage was superficial ...but when an upper & lower control arm is over $1,000. after taxes ...& there are 4 of them ...it is easy to understand the repair verses replace issue for an insurance company. Also consider the rental replacement vehicle price that some policies cover! I put this Jag back on the road & drove it for over a year ...keeping the mileage down on my other XK8 ...it was perfectly safe with minor front end damage & sold it later for a small profit. there are many convoluted situations to consider when buying rebuilt titles ...research is wise ...but in my opinion ...one can catch a deal. Always consider your personal safety first however. ...JJHXK8
Just bought a 2009 Chevy with a rebuilt title the reason it was branded was because the insurance company paid a theft claim the car had zero damage and looks and drives like new.I paid less than 40% of its current value.So you need to check the facts before you buy