Salvage Title, what do I need to do?

[kochevy67]

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.

[Muscle Car PWR]

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!!

[Vegas69]

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

[71RS/SS396]

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

[Rick D]

Originally Posted by kochevy67

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.

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

[kochevy67]

Originally Posted by badrs69

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

The main difference is you own a shop and are certified to rebuild it sounds to me like he is not. As far as washing titles they are clamping down big time. Try and use Broadway Title out of Alabama and see what happens, I am telling you they are hip to that. You may get a title but you will most likely have the SOS Police knocking on your door to inspect the vehicle and check to see if it is hot.

Either way I wouldn't touch a rebuild with a 10 foot pole. Just my .02

[strtcar]

Thanks for all your input. I'm leaning towards not taking the car, the hastle of it just isnt worth it. Especially if I want to sell it in the future the new owner will be going back and fourth. With the amount of money that will be dumped into it, I will wait for a clean one.