Why would anyone buy a repaired car with a salvage or rebuilt title?

45

Asked by Jan 29, 2015 at 08:30 PM about the 2007 Chevrolet Corvette Ron Fellows Limited Ed. Z06

Question type: Shopping & Pricing

I am forced to sell my dream car a 2007 Ron Fellows Corvette, but the car is a rebuilt
wreck and it has a Rebuilt Title. I have learned that dealers can not take them in trade and
banks can not loan money to buy them. Yet I have saved a very special vehicle from the
chop shop, but why would anyone else want to buy my rebuilt wreck?

11 Answers

10,810

Rebuilt title cars cant be financed because you can no longer carry full coverage insurance on a car that has been totaled. That's why dealers don't want them. That doesn't mean it cant be a good car for someone. There is a market out there for them, but you cant get the same amount of money that you can for an insurable car. whoever buys it will likely have to pay cash.

1 out of 1 people think this is helpful.
25

That is not true. It may depend on your state, but here in Missouri dealers can buy them and customers can get full coverage. Not every company or dealership will. Companies can decide by themselves if that is what they want to do. We do it at our dealership all the time and are able to easily find insurance for our customers. Maybe try selling in Missouri....

1 out of 1 people think this is helpful.
25

PS... As far as loans, that is another rule that is decided by the lending company. It is harder to find a lender that will take them, but there are some.

1 out of 1 people think this is helpful.
10,810

Where I live it is true, you are correct, laws vary by state. However, there will be some kind of difficulty in selling the car because of the salvage title. That said, it doesn't mean nobody wants the car, it just means that it will appeal to a certain type of buyer. Generally it means that you won't get as much money for the car as a clean title vehicle, for people who aren't scared of salvage titles, there are good deals out there.

1 out of 1 people think this is helpful.
Best Answer
2,035

If I couldn't afford to buy my used dream car. And found one salvaged that was affordable and I planned on driving it forever, I would buy one if it was properly rebuilt and had cash on hand to make the deal.

1 out of 1 people think this is helpful.
2,035

And yes murpheyd , I am glad you saved that Corvette from the chop shop she is beautiful.

10,810

I agree Steve, but anyone buying a salvage title car needs to check with their insurance company to make sure they can get the coverage they need.

12,495

You have to remember, insurance compainies will total a car IF the cost of replacement or money given for a replacement is far less than repairing the vehicle wrecked. What used to be totaled, had major frame, suspension, and replacement body parts cost way too expensive. As the labor costs went up, total body parts were replaced instead of hammering them out, the insurance totaling went up. So what may be wrong with say a Ron Fellows Corvette was a Porsche driver doing the elevation on just fiberglass repair, or a stolen stripped car needing tires, wheels, engine and transmission. $24000 bill on a $20000 or less total. In California where the back of the junk yard cars are being turned into RAT cars, most have been totaled, yet the DMV will give a complete, through inspection and issue a special tag and allow them back on the street. So it really depends on the reason the car was totaled. Corvette lovers always pour more into their love, compared to what it is worth in the real world. I'm $15,000 upside down on my corvette, but it's worth it. It has never been in a wreck. 1969 with over 350,000 miles.

10

How much for your car?

1 out of 1 people think this is helpful.
12,495

I just added a dual FiTech throttle body EFI system to it. Spent 4 1/2 days doing a top to bottom/underneath detail on the car. 10 grand for the engine, 2 for the 5 speed trans, 10 on the paint, (14 years old) 3.5 grand on the EFI and new parts, new tires, and the original American racing S200 rims, new drive train and breaks. Inside new, but original gauges, and working on getting the temp gauge replaced. $45,000? Show winner or placed in a lot of car shows. It have this listed in my will to go to my daughter. Original owner, and never wrecked or crashed. Mechanically sound. Has not seen rain since 1987.

12,495

New EFI dual throttle body

Your Answer

Add photo

Related Questions

Corvette

Looking for a Used Corvette in your area?

CarGurus has 20,764 nationwide Corvette listings starting at $3,499.

ZIP:
Get More Money for Your Car
Be seen by 20 million shoppers. Create Your Free Listing

Search Chevrolet Corvette Questions

Chevrolet Corvette Experts

#1 John Carson
John Carson
Reputation 2,150
#2 carGrrl
carGrrl
Reputation 1,360
#3 Vincent Parker
Vincent Parker
Reputation 1,240
View All

Related Models For Sale

Used Ford Mustang
329 Great Deals out of 45,942 listings starting at $2,000
Used Dodge Challenger
143 Great Deals out of 24,419 listings starting at $8,500
Used Porsche 911
95 Great Deals out of 4,430 listings starting at $11,900
Used Dodge Charger
231 Great Deals out of 27,478 listings starting at $1,997
Used Dodge Viper
3 Great Deals out of 439 listings starting at $24,995
Used Chevrolet Silverado 1500
2,010 Great Deals out of 160,767 listings starting at $1,995
Used BMW M3
58 Great Deals out of 1,928 listings starting at $6,999
Used Ford F-150
2,425 Great Deals out of 211,459 listings starting at $895
Used Cadillac CTS-V
12 Great Deals out of 505 listings starting at $7,995
Used Mercedes-Benz SL-Class
59 Great Deals out of 3,089 listings starting at $3,500
Used Ford Shelby GT500
6 Great Deals out of 529 listings starting at $21,994
Used BMW 3 Series
1,038 Great Deals out of 35,400 listings starting at $900

Used Cars For Sale

2017 Chevrolet Corvette For Sale
3 Great Deals out of 10,456 listings starting at $44,711
2016 Chevrolet Corvette For Sale
8 Great Deals out of 1,841 listings starting at $42,999
2015 Chevrolet Corvette For Sale
11 Great Deals out of 715 listings starting at $39,900
2014 Chevrolet Corvette For Sale
6 Great Deals out of 789 listings starting at $38,685
2013 Chevrolet Corvette For Sale
7 Great Deals out of 346 listings starting at $26,999