salvage title

[xtreme10]

Ok, new to the site and just trying to get some info on this. I have owned a trailer previous, so I am not new to the camping world, but I came across a really awesome deal at the insurance auction and jumped on it. I bought a 2010 keystone springdale bunk house with hail damage for $8000. I contacted the previous owner myself and he confirmed that it was indeed just hail damage. super nice trailer and everything is power.

So my question is, I received the title today and ready to go get it registered. The title is pink, salvaged and I have already paid all sales tax at the auction on it. My question is, when I received the title, they sent some paperwork with it for rebuilding it and getting it signed off on. But I believe they probably send this packet out with all the vehicles they sale since its mostly salvaged cars. Does anybody know if all you do is register it and it stays pink or can you get it back to blue title?? This is in Texas.

thank you for helping.

[Gdetrailer]

SprinklerMan wrote:

dockmasterdave wrote:
I found out the hard way that FL vehicle ins does not "cover it" while it is connected to your vehicle.
It only covers damage done to others property.
A simple call to your ins agent would be 10 minutes well spent.

Thats the norm , it covers the trailer for liability , not replacement unless you pay for it .

It is up to the INSURANCE COMPANY not the state that determines what exactly they will "cover" once you get past all the STATE MANDATED LIABILITIES.

Call a DIFFERENT INSURANCE COMPANY and you most likely will get a different answer (even in Florida)..

You can also ask your vehicle insurance for a "RIDER" for your trailer which will cover the trailer and contents when not connected.. These riders are often very inexpensive to add it will be much cheaper than a separate "policy"..

Pretty good chance adding a trailer rider will only cost an extra $30-$40 or so a year to your auto policy..

Insurance companies make a killing selling SEPARATE POLICIES..

[Gdetrailer]

westernrvparkowner writes "Might want to re-read your homeowners and vehicle insurance policies. They are only going to pay a claim based on the value of the property lost. They are going to value a salvage titled RV at near zero, regardless of what anyone paid absent some agreed valuation appraisal. In this case, the buyer paid around $8000. That is either a lot to lose, or insignificant, depending upon an individual's financial situation. And these forums also answer questions for others in similar, but not identical situations. I would bet the OP could withstand the loss of $8000, but someone putting the proceeds of selling their home into the purchase of a three year old diesel pusher costing over $100,000 with a salvage title might very well be financially destroyed if they had an uninsured total loss."

Umm.. we are having a discussion in the TRAILER FORUM, not Motorhome forum. We are also discussing a FIVE YEAR OLD TRAVEL TRAILER, NOT A THREE YEAR OLD DIESEL PUSHER.

A huge difference between a travel trailer that originally cost perhaps $25K vs a motor home that cost upwards of $150K or more.

Perhaps you should re-read your RV "policy".. Your RV policy is going to reimburse just the same as your vehicle insurance which is TODAYS "VALUE" MINUS YOUR DEDUCTIBLE, IF YOU ARE LUCKY, you may even get less than what you think you might.

The ONLY DIFFERENCE is your RV policy will cover whether you are hooked up or not..

Putting a lot of unnecessary money into an insurance policy for a depreciating asset is a lot like dumping your money into a toilet..

Insurance companies are in the business TO MAKE MONEY.
They are not a "charity", they are GAMBLERS but they only gamble when the "odds" are in their favor.

For a $8000 trailer in which the OP paid cash for it is pretty much a no brainer that the OP is comfortable in some "risk" So really the insurance card guilt trip laid on here often really should not be of much concern.

The OP got a pretty decent deal (although most likely not as good as the seller since they had to "buy out" the insurance co in order to "keep" the trailer, they most likely got the trailer paid off then bought it for salvage price then flipped it and turned some profit).

The downside is the OP DOES have some work to do, from a quick check of the Texas DMV it looks like the OP will need to apply for a "reconstructed" title..

Most states do not allow salvage titles to be registered for plates (salvage title is given to allow salvage yards to hold the item and to use or sell off the parts), Texas from my quick glance is one of those states.

OP needs to check with their local DMV to get all the correct procedures and paperwork..

[SprinklerMan]

dockmasterdave wrote:
I found out the hard way that FL vehicle ins does not "cover it" while it is connected to your vehicle.
It only covers damage done to others property.
A simple call to your ins agent would be 10 minutes well spent.

Thats the norm , it covers the trailer for liability , not replacement unless you pay for it .

[xtreme10]

$30 a month for comp and collision

[xtreme10]

Did call insurance and they said no problem. They are quoting it today. So doesn't seem to be a issue

[dockmasterdave]

I found out the hard way that FL vehicle ins does not "cover it" while it is connected to your vehicle.
It only covers damage done to others property.
A simple call to your ins agent would be 10 minutes well spent.

[peaches_cream]

Only problem I can forsee is if OP wants to sell at a later date and new purchaser needs to finance. New purchaser would have trouble finding Insurance thus not be able to finance the RV.

[xtreme10]

SprinklerMan wrote:
You got a great deal on the camper , hail damage doesnt show if you dont wash it .You can set up look at most of the trailers around you and while you are drinking your adult beverage , you get to smile , because the guys next to you probably took a 15 year loan , with no money down ,on a trailer they paid list price for.

I was thinking the same thing. It's paid for and I think I got a good deal and won't get hurt on the deal

[SprinklerMan]

You got a great deal on the camper , hail damage doesnt show if you dont wash it .You can set up look at most of the trailers around you and while you are drinking your adult beverage , you get to smile , because the guys next to you probably took a 15 year loan , with no money down ,on a trailer they paid list price for.

[westernrvparkow]

Gdetrailer wrote:

RoyB wrote:
Not having Comprehensive Insurance in this state is a very expensive situation.

Hopefully you can get the right title and make things normal again... I would for sure talk with your local DMV where the trailer will be licensed and get your answers straight from the folks who knows.

Roy Ken

:R

Good grief! Get over the insurance thing..

As long as the OP bought it for cash or took out a personal loan or against home equity there is NO requirement from the bank for insurance..

There is NO REQUIREMENT for insurance in order to tow a trailer on the road either, your vehicle insurance will cover the trailer as long as it is connected to the vehicle..

There is NO requirement for insurance if it is sitting on your own land, your HOME OWNERS insurance will cover it..

The only time you would want to consider insurance is when your are setup in a campground.. But hey, the OP would be only out $8K if it freakishly burned down in a campground..

a 5 yr old trailer with hail damage.. Not easily resold, the OP bought it CHEAP..

It HAS NO VALUE to start with, why in the world would you consider paying an insurance company $200 or more a year to only get a few thousand back in case of a freak accident in a campground..

Next, you will most likely ask if the OP got a "warranty" with it.. :S

Might want to re-read your homeowners and vehicle insurance policies. They are only going to pay a claim based on the value of the property lost. They are going to value a salvage titled RV at near zero, regardless of what anyone paid absent some agreed valuation appraisal. In this case, the buyer paid around $8000. That is either a lot to lose, or insignificant, depending upon an individual's financial situation. And these forums also answer questions for others in similar, but not identical situations. I would bet the OP could withstand the loss of $8000, but someone putting the proceeds of selling their home into the purchase of a three year old diesel pusher costing over $100,000 with a salvage title might very well be financially destroyed if they had an uninsured total loss.

[randallb]

Bought a salvage titled trailer at a great price but want to try to get a clear title for it. Hmmm.
Randy

[xtreme10]

Lol. Yes it was bought with cash. I have title in hand, so no banks requiring insurance

[Gdetrailer]

RoyB wrote:
Not having Comprehensive Insurance in this state is a very expensive situation.

Hopefully you can get the right title and make things normal again... I would for sure talk with your local DMV where the trailer will be licensed and get your answers straight from the folks who knows.

Roy Ken

:R

Good grief! Get over the insurance thing..

As long as the OP bought it for cash or took out a personal loan or against home equity there is NO requirement from the bank for insurance..

There is NO REQUIREMENT for insurance in order to tow a trailer on the road either, your vehicle insurance will cover the trailer as long as it is connected to the vehicle..

There is NO requirement for insurance if it is sitting on your own land, your HOME OWNERS insurance will cover it..

The only time you would want to consider insurance is when your are setup in a campground.. But hey, the OP would be only out $8K if it freakishly burned down in a campground..

a 5 yr old trailer with hail damage.. Not easily resold, the OP bought it CHEAP..

It HAS NO VALUE to start with, why in the world would you consider paying an insurance company $200 or more a year to only get a few thousand back in case of a freak accident in a campground..

Next, you will most likely ask if the OP got a "warranty" with it.. :S

[2Bargos]

In KY you take salvage title and repair receipts to Local clerks office,after all the run around you will be Issued a "Branded Title"

Will say rebuilt vehicle on top of title and will be a different color than regular title.
My coach has a rebuilt title and tags and insurance are not a problem.

As for value it all depends on the unit and how it looks after repairs. Our local banks will on loan 50% of book value on a rebuilt camper, motorcycle etc.