96bounder wrote:
When I purchased my bounder it came with a certificate of destruction issued in florida.I took this to my local dmw and was issued a ky salvage title.I then made the repairs keeping all my reciepts and affidavit as to what work was done and having local sheriffs office inspect vehicle(vin numbers on title and coach must match) went back to dmv again and was issued a "Branded Title".
The title is different in color and has "rebuilt vehicle" listed on it. In my area rebuilt vehiles generally sale for about 55%-65% of book value.
Be very careful with any vehicle with a destruct or parts title as Kentucky is the ONLY state where you can do this and you have to live in KY to do it. Fla is one of the worst states for issuing destructt titles where in GA the same amount of damage it would have a salvage title.
In most states you CANNOT get a tag for a salvage title vehicle... it has to be a rebuilt title which you can get after rebuilding and having it inspected. In GA this inspection cost $118 and they come to the vehicle.
OP, if you plan on keeping for a long time and if you can get it for less than $20K and you are sure the only damage was to the ceiling and if you can get a tag with the current title then MAYBE.
DSDP Don wrote:
A rebuilt vehicle with a CA salvage rebuilt title can be driven on the highways.
That pretty much applies to most states. Some states are easier than others, and some are cracking down on the process. I have a friend that made a good living buying totals at auction, reconstructing them and selling them. The state in which he was operating began to make it harder to get a rebuilt title by requiring a trip to the state's capital rather than the local DMV for the paperwork. NJ did this as well about 10 years ago - I would have to take half a day to go sit in Trenton to get a title. It's not worth it.
There are really good deals to be had if done right but I personally wouldn't buy a reconstructed vehicle unless I did the work myself or was familiar with who did the work. There's a reason the insurance company totaled them: they're too expensive or dangerous to repair. Someone will be looking to cut corners in the reconstruction in order to make a buck. My friend had an eye for finding "easy" repairs where an adjuster might have been a bit overzealous in his/her estimates and I wound up with some pretty good deals.
With regard to the original topic, I would believe water damage could result in a total loss. Water damage is taboo among insurance companies since it could lead to all sorts of trouble later on. I reconstructed one flood total myself. Just one. I'll never do it again. It's not terribly costly compared to a collision total but it's EXTREMELY tedious and requires complete dismantling of the vehicle for proper cleaning, disinfecting and replacement of electronics in order to be done correctly. I would not rely on a stranger to have done it correctly if their interest is in "flipping" it.
All that being said, and the reason I'm posting again is to emphasize that you will likely be "stuck" with this vehicle if you intend to move or sell it out of state. I have not had good luck in selling "R" title cars outside of NJ. Each state's rules for reconstruction are different. Selling from NJ to NY, for example, requires that the buyer go through the reconstruction process all over again in NY (paperwork, receipts, secret inspection, etc.).
It depends on what they're defining as a "salvage title". A lot of people refer to rebuilt titles as "salvage titles". I've bought, sold and reconstructed a few "salvage" vehicles.
A true "salvage" title means that the vehicle you're buying has been deemed by the state as needing reconstructed in order to be put back on the road. I've bought several such vehicles, reconstructed them and obtained legitimate titles that are good for registration. In NJ, this requires an inspection by the State Police where they take your car into a garage and pick it apart as you wait. You are ultimately issued a "clean" title with an "R" in the top right corner indicating that the vehicle has been reconstructed. Again, some refer to this as a "salvage" title, but is good for registration.
In general, however, these "R" titles are not transferrable from state to state. If I were to buy a "salvage" vehicle in any state, I would make sure that it's been reconstructed and titled to the state's satisfaction and that the title I get upon sale is good for registration. I would buy the vehicle with 2 assumptions: 1) I would never want to sell it (because the salvage title would scare most buyers away) and 2) The price would be substantially below retail given the risks associated with resale.
I would put the value of a properly reconstructed vehicle at around 2/3 of NADA retail at most.
A true "salvage" title means that the vehicle you're buying has been deemed by the state as needing reconstructed in order to be put back on the road. I've bought several such vehicles, reconstructed them and obtained legitimate titles that are good for registration. In NJ, this requires an inspection by the State Police where they take your car into a garage and pick it apart as you wait. You are ultimately issued a "clean" title with an "R" in the top right corner indicating that the vehicle has been reconstructed. Again, some refer to this as a "salvage" title, but is good for registration.
In general, however, these "R" titles are not transferrable from state to state. If I were to buy a "salvage" vehicle in any state, I would make sure that it's been reconstructed and titled to the state's satisfaction and that the title I get upon sale is good for registration. I would buy the vehicle with 2 assumptions: 1) I would never want to sell it (because the salvage title would scare most buyers away) and 2) The price would be substantially below retail given the risks associated with resale.
I would put the value of a properly reconstructed vehicle at around 2/3 of NADA retail at most.
