Turns out the El Camino I am looking at has a Rebuilt Title
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It might be difficult to get insurance on it or full coverage insurance.
You should receive substantial savings on the cost compared to a good titled vehicle and expect to get less in return when you sell it.
Almost every good car of this vintage has been rebuilt. So if the build is good, you might get a decent car out of the deal.
You should receive substantial savings on the cost compared to a good titled vehicle and expect to get less in return when you sell it.
Almost every good car of this vintage has been rebuilt. So if the build is good, you might get a decent car out of the deal.
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If the price is right, I would not worry about it. Inquire what was done to the car and inspect the frame.
1968 El Camino, 327, M20, 'Glass tilt front, Jag IRS....
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Explanation for why?
What state?
In CA for example it seems that nearly every car that has a claim filed gets "Totaled" and then a salvage title.
Incredibly minor damage may be cause for a "Salvage" title.
I watch some salvage auction sites so see this often.
If you are looking to do minor work and "Flip" it then you may have a concern.
If you are going to drive it for several years and pass it down to family, much less of a concern.
What state?
In CA for example it seems that nearly every car that has a claim filed gets "Totaled" and then a salvage title.
Incredibly minor damage may be cause for a "Salvage" title.
I watch some salvage auction sites so see this often.
If you are looking to do minor work and "Flip" it then you may have a concern.
If you are going to drive it for several years and pass it down to family, much less of a concern.
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On an old car, if properly repaired, a salvage or rebuilt title would not bother me in the least.
It depends,I bought a 1987 Monte Carlo SS in 1989 with 52000 miles on it.No motor,trans,wheels-tires,seats.I wanted a pro-street MC,so for me ,it was a great starting point even with the salvage title.The body was straight and rust free,except they walked all over the stock hood so I put a fiberglass cowl hood on it,got a used interior,a ford rear, and painted it Torch Red with a gray interior. I built a 548 ci motor and 4L80E trans to finish it up.I don't believe the salvage title will affect selling price very much in this case.However a nice stock or restored car may be influenced. Tom..
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Until you dumped a grip of time and cash into it and couldn't recoup any of it.😩
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A car xan get a salvaged title when repairs cost more than car. Body work is same per hour on a old car worth 6-8k as it is a new BMW. It coulda just had cosmetic issues but repairs being too much it got salvaged.
Not like buying a 2015 camaro with a salvaged title.
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Not like buying a 2015 camaro with a salvaged title.
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Exactly.
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When you own a salvage title vehicle, you pay the same premium for insurance as you would on the exact same clean titled vehicle. However, if your salvage titled vehicle gets totalled, the insurance company will be settling with you for much less than they would if it were a clean title. I know this because I once worked in the insurance and salvage business. There is a percentage that they deduct when settling a claim for salvage titled vehicles, but I do not recall what that was.
Steve
Steve
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An insurance company can issue a salvage title for a number of reasons. Collision, flood, fire, or even just being a recovered theft. The insurance company I once worked for sold a pickup truck on a salvage title because the owner shot himself in it and the bullet went through the roof, it was pretty messy inside. The truck wasn't too valuable and the repairs may have exceeded the threshold of what the insurance company could spend on repairs. I'm not exactly sure though on the reason for it to be salvaged at auction.
My state doesn't require a title so a rebuilt title means nothing here.
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Any old car built from the frame up is basically reconstructed.
reconstructed yes, but the actual title with a salvage title might turn off some potential buyers in the future. curious if a bank will make a classic car loan on a salvaged title vs a clean title and if the loan would be the same for both vehicles. jim
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