I could use some advice. I just went to look at a 2008 FX4 Supercrew that has a rebuilt title because it was stolen but not wrecked. The truck has 10,000 miles on it and it looks brand new! Everything works fine but the power adjust on the pedals but they are in the right position for me. He was able to tell me everything they did to it. He said he was pretty sure it was driven through a fence. He had a fender and hood repainted. He said the windows had been left down and it had gotten wet so they pulled out the interior carpet and dried and cleaned it. He said it had been through the mud and he did a major detailing to clean it back up but I cant see and signs of that at all. He has the original window sticker of about $42,000 and he is asking $23,000. What do you all think? I would apreciate any advice!

 

I would not know how it would be valued but I would doubt that just getting stolen would bring on a rebuilt title....

 

Agreed. Even with what the OP has said has been repaired and what the owner says it has been through, it doesn't sound like enough damage to have a salvage or rebuilt title. I think there may be more to the story. See if you can find out when all this happened and see if there is a police report and possibly an insurance report. Also if this is not the original owner contact the original owner and get the story. I'd do your homework on this before purchasing. I know if a vehicle has had any water damage even from leaving the windows down electrical problems can show down the road.

 

I would be very cautious, like efusilier said it doesnt make sense to have a rebuilt title with the little damage that the seller stated. You could call your insurance company and ask what would cause a vehicle to have a rebuilt title and if the damage the seller says the truck had would constitute a rebuilt title. Good Luck

 

If the insurance company paid off the owner for a stolen vehicle, and then it's recovered and repaired, it has to have a salvage title. Stay away unless you are prepared to drive it without full insurance. Most insurance companies won't give you collision or comprehensive coverage on a vehicle with a salvage title, and not too many lenders will give you a loan on one either.

 

I would be looking vary hard at the frame if it was off roaded since it was totaled out

Also i would go no more than 70% of book value

 

two words......

car fax

 

Don't do it the resale on those things is horrible after something has been through something like that the resale price is very low. I know you are prob not thinking of selling it as soon as you buy it but that is something to have in the back of your mind. Ive been there done that lost to much money......

 

Typically a rebuilt/salvage title is applied to any vehicle that the insurance company showed as a "total loss" which is stating that repair would exceed 70% of the vehicle value. If the insurance company's adjuster determined that the interior had to be replaced as well as the exterior damage the value would have exceeded this.
However, as previous posters have stated...getting comprehensive insurance on a salvage title vehicle may be difficult. Also, resale will be terrible.
Check out the article at Edmunds.com on salvage titles. They recommend avoiding these types of vehicles unless you plan on driving them until "the wheels fall off"

Good luck.

 

$18,000 - $20,000. Put $5,000 in an escrow account to cover any repairs. Start by replacing all fluids.

Take a long test drive first, and have a mechanic look at it.

 

Thanks everyone! I needed the feedback to slow me down! I didnt think about the insurance issue! I am going to call them and my bank in the AM. This guy seemed real legit. He isnt really trying to sell me on it. He has put 4000 mile on it himself and has had it for a year for one of his employees that didnt work out. It is really super clean underneath and inside. The question in my mind is did it get rained in or end up in a creek! He buys salvage vehicles and fixes for his company trucks. He was keeping this truck but it sounds like he doesnt need as many employees right now. Thanks again for the advice!

 

I was an adjuster for 31 years and helped craft the salvage title law in Virginia. The salvage title laws are different in every state. What triggers a rebuilt title in one state might not in another so you can't go by just what the title says. Some of the reasons for a rebuilt title are triggered by legitimate reasons of warning future owners but some of the reasons are triggered by new car dealers to increase sales of new vehicles. Some states will clean titles on recovered thefts and some will not.

As has been said, the rebuilt title will sharply cut the value of the vehicle should it ber wrecked or if you sell it. You might plan on driving it into the ground but what will you do if it is totaled?

 

I have looked at several "salvaged" title cars here in Texas for daily commuters. I will not pay more than $5000 for one because I know there will be no resale and I will have to drive it until the wheels fall off. Which may not be bad, but safety is a concern. I would not buy a truck this way because I need it to pull, etc. Beware, as there are a LOT of scam artisist rebuilding salvaged cars here in Texas. It really spiked after Katrina.

 

I respectfully disagree, atleast in Texas a stolen truck would get a salvage tittle. After it goes in to an auction and gets sold the new buyer must get it inspected and fix any minor issues to change it to a rebuilt tittle. Atleast that’s how it has worked in my personal experience

 

*heads-up* ...

The thread (and previous last post) is 12-years old. Just sayin'.
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