Salvage Title, what do I need to do?
 

Looking to pickup a 1993 Mustang from a guy in Iowa. He is third owner. I ran a car fax and back in 1997 it had an got an salvage title. I asked the guy about it gave me a story about it being it from the front by orginal owner and they totaled it out. He said everything was realaced and the car drove straight. It doesnt run now, he is selling it as a roller. Should I be concerned? Carfax said no frame damage. What about trying to insure it? I'm in Illinois.

I wouldn't buy it.

RUN -- unless you're a professional and want to mess with it.

You might say you don't care "now" -- but when you go to sell it -- the same worry will be had by the potential buyers that you're now having.

Walk away the car is not worth the problem. You can't plate it in Illinois and you can forget about running the title through Indiana the Secretary of State is hip to that move.

Clean title vehicles are worth their weight in gold. I built a really sharp '90 GMC 1/2-ton pickup about 8 years ago and when I finally decided to sell it it was a pain with the salvage title. Even if it was salvaged from being stolen and stripped with no body damage it is still tough explaining to a potential buyer. Buy a car with a clean title!!

I'd be surprised if financing is available on a salvage. I ALWAYS think of resale.

Everything mentioned above and it's worth 50% of the market value at best.

That's not completely true. Yes you can't get plates or Ins for a salvage title car but you get plates and registration and Ins for a rebuilt title car in IL and in most states. I have at least 5 body shop that thats all they do is buy salvage cars from the auctions here in IL and they rebuild them. Then you take them to the Illinois Secretary of State police to get them inspected and then they get a rebuilt title (if it passes the inspection). I'm not saying that I would do it BUT there is a BIG market for here and in many states. I also know IL is trying elminate rebuilt titles, but that is going to take some time becuase there are some BIG salvage companys trying to make sure that dosen't happen. Also title washing from sate to state still happens all the time. On the IL title application there is one box that needs to be checked for salvage/rebuilt title and if it's not than WOOHOO for the guy getting his title back that is now a clean title. Yes I know you can still carfax it but that is not full proof. we had a customer a few years ago who bought a car brand new and came to sell it to us a few years later (we had a used car dealer also) and we ran a carfax and it came back a having a salvage /rebuild title. Carfax had ONE number wrong in the vin when they entered it in their system.

Now as far as this Mustang was it a salvge title and now it has a rebuilt title or dose it still have a salavge title?? Yes value is way less but how much is a 93 Mustang worth these days any way unless it is a cobra or a low mile one. Also what do you plan to do with it?? Build it into a drag car or high end show car?? Depending on what your going to do with it should help you decide if its worth what he is asking. Just my .02

Would you still be willing to go through with the purchase if you know it has a bent frame/chassis? Are you willing to not be able to resell it? If you answer yes to both of those questions then go for it. If not walk away.

Mustangs are a dime a dozen,just find another car.