Totaled vehicles...sometimes surprising.
I’ve often wondered how the large numbers of “rebuilt” vehicles with “light damage” for sale can be real and not just a line of bs by the seller. Had one example years ago. Guy at work literally “ta...
Forum Discussion
bob_nestor wrote:mich800 wrote:
Insurance companies are not stupid. If it was totaled it was in their best financial interest.
They have a pretty simple formula, something like if the cost of repairs plus the salvage value exceeds the average price the vehicle could sell for when fixed, it's considered totaled. Once they tag a vehicle as totaled it gets attached to the VIN in the government's databases. That makes it difficult to license and insure it later. Trying to get a clean title after that requires a lot of work and jumping thru hoops.
But it can be a good hobby or business for someone who is handy mechanically. Ran into a guy in Alaska who was buying totaled RVs in the Lower 48, driving them to Alaska and rebuilding them in his shop over the long winters. To bad his mechanical and carpentry skills weren't quite up to snuff though. LOL
I have purchased multiple branded titled vehicles in my lifetime with positive overall results. It is not for everyone and definitely not for those that are risk adverse. I have never had and issue insuring or registering a rebuilt title vehicle. If you are the one trying to repair and convert from a salvage to a rebuilt title that is different animal.
