Question on rebuilt title??? - Chicagoland Sportbikes
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post #1 of 7 (permalink) Old 10-11-2005, 02:52 PM Thread Starter
i need a new bike, this one is trashed
 
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Question on rebuilt title???

Thanks to Jschaffer I was able to get a vin check on a 1998 Mazda i am suppose to buy today....the car had a salvage indiana title and was sold to the current owner with a rebuilt title...
The car looks good and drives fine...it has around 76k miles on it.

Is this car a good buy or should i still be looking around...what are the implications of the salvage and rebuilt titles??????
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post #2 of 7 (permalink) Old 10-11-2005, 05:30 PM
I do it in the dirt!
 
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Salvage title means it was damaged or wrecked, cannot register it. Rebuilt means it was fixed/repaired/rebuilt by someone and was inspected by the state, and you can register it. Cars do take a value hit with a rebuilt title, simply because it says rebuilt. I know of some rebuilt cars that run better and last longer than brand new ones. Lots of times car dealers get crashed cars from dealer auctions with clear titles and fix them (and you never know unless you tear into the car and look for signs of body repair). Again, not a big deal as long as they fixed it right.

Bottom line is now that you know it has a rebuilt title, you have some more leverage for negotiating price.
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post #3 of 7 (permalink) Old 10-11-2005, 05:42 PM
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I always thought rebuilt had something to do with major repairs such as frame damage, ect... At what point does a car or bike get titled rebuilt or not?




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post #4 of 7 (permalink) Old 10-11-2005, 05:45 PM
freaking newbies, man there slow, ha ha ha
 
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Quote:
Originally Posted by CHI1000RR
I always thought rebuilt had something to do with major repairs such as frame damage, ect... At what point does a car or bike get titled rebuilt or not?
my old f3 had a rebuilt title because it was stolen, plastics were beatup and spray painted, sold as salvage at an auction, and then inspected by the state after the guys that bought it at the auction replaced the plastics and lights. Rebuilt doesn't necessarily mean anything major. You'd be surprised how little damage it takes for insurance companies to hand out salvage titles.
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post #5 of 7 (permalink) Old 10-11-2005, 05:51 PM
bwa
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Quote:
Originally Posted by ashwingop
Thanks to Jschaffer I was able to get a vin check on a 1998 Mazda i am suppose to buy today....the car had a salvage indiana title and was sold to the current owner with a rebuilt title...
The car looks good and drives fine...it has around 76k miles on it.

Is this car a good buy or should i still be looking around...what are the implications of the salvage and rebuilt titles??????
the VIN check didn't list repairs/accidents?
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post #6 of 7 (permalink) Old 10-11-2005, 08:22 PM Thread Starter
i need a new bike, this one is trashed
 
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No the vin check listed no major repairs/accidents or theft.
Just got back after picking up the car..
I took a nice long drive and looked over the car thoroughly 3 times...no signs of damage...car is running smooth and moving in a perfectly straight line at 40mph without touching the steering..
I got it for almost 2k under the NADA value + the guy needed to sell fast because he was moving......Hopefully I should not have any problems with the car in the future.
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post #7 of 7 (permalink) Old 10-11-2005, 08:43 PM
 
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Sounds like you did well.

There is a percentage of damage used to determine whether to salvage a car or not. I believe it's 33%. If it's crashed, and repair costs add up to 33% or more of the car's original value, it will be salvaged. An enterprising person can make repairs for a lot less than what the average dealer repair costs, take the car for a state inspection, and have the car titled as rebuilt if it meets state requirements.
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