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Discussion Starter · #1 ·
what exactly does it mean?

i got into an accident about 2 weeks ago. right fender got dented a bit and broken turn signal..



insurance of chick said its totaled so i had 2 options:

1)give them ym car and get $1,900 or

2) keep car, get $1,595 to fix it but with a salvage title.


i obviously went with #2.


anyone?
 

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I do'nt make mistakes.
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Alfred Neuman said:
what exactly does it mean?

i got into an accident about 2 weeks ago. right fender got dented a bit and broken turn signal..

insurance of chick said its totaled so i had 2 options:

1)give them ym car and get $1,900 or

2) keep car, get $1,595 to fix it but with a salvage title.

i obviously went with #2.

anyone?
If you plan on keeping it for a bunch longer, and you can fix it for less than $1595, you're ok. It will definitely kill the resale value though, so after its fixed it will be worth less than the money into it.
 

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You can always retitle in another state that won't show it and then bring it back and get a clean title. There might be a small infraction involved with this but it can be done.
 

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swinging a big stick
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bryce mcgarvey said:
You can always retitle in another state that won't show it and then bring it back and get a clean title. There might be a small infraction involved with this but it can be done.
I heard you can also get a clean title if you wire $15M to Nigeria.
 

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Happy Trails!
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bryce mcgarvey said:
You can always retitle in another state that won't show it and then bring it back and get a clean title. There might be a small infraction involved with this but it can be done.
As long as the insurance company does not report it to Carfax or NMVTIS you could do it -- the practice happens a lot. Only around half the states use NMVTIS, which is the national title info system. So, if you can bring your salvage title to a state that doesn't pick up the codes and is a non-NMVTIS state you're cool. A lot of titles used to be washed in TX, so I always used to check those cars out good if they came from there. I'm not sure if you can still get away with it as easily there now though.

EDIT: No I don't condone this behavior.
 

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bryce mcgarvey said:
You can always retitle in another state that won't show it and then bring it back and get a clean title. There might be a small infraction involved with this but it can be done.
Yes. Not disclosing a salvage title is called "fraud." :angel:

Which is not to say that it doesn't go on.

To the OP: a salvage title means the car has sustained enough damage for the insurance company to declare it a "total loss." Obviously not all salvage titles are created equal, since a wide variety of damage can result in a total loss claim.

Most buyers will avoid a salvage title, but there is still a market for such cars. In general, the market value will be about 50-75% of KBB depending on what exactly happened and what's been done (if anything) to repair it.
 

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Alfred Neuman said:
what exactly does it mean?

i got into an accident about 2 weeks ago. right fender got dented a bit and broken turn signal..

insurance of chick said its totaled so i had 2 options:

1)give them ym car and get $1,900 or

2) keep car, get $1,595 to fix it but with a salvage title.

i obviously went with #2.

anyone?
If you've already agreed and cashed the check stop reading now. :)

What would it cost you to replace your car with a similar car? If the number is >> $1900 you need to fight. I'd start talking small claims court. If you have legal insurance, use it.

If the other person is at fault, their insurance needs to cover your actual loss.
 
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