Is there a place, maybe something similar to kelleybluebook.com where I can go and find the salvage value of a vehicle...or some other easy way to do it. Thanks.

 

I play with salvage car/trucks. Typically most rebuildables sell at wholesale auction for 30% of retail value for salvage title vehicles. Clean titles go for 20-30%more. This is an average. Stuff is worth whatever someone is willing to pay (time of year and economy effect this). Trucks, quads, motorcycles, and classic cars will often sell for much closer to retail value than basic every day types of vehicles. If you are buying from a wholesaler who sells to the public expect him to add another 10-20%.

I like to buy cars with salvage titles since they are cheaper and they are mostly cars for me or family. We tend to keep our cars until they aren't worth much any how. So we try to save the money up front. Anyone can rebuild a salvage title in IN, but other states vary. Check the laws in your state before buying a salvage title car!!!

There are plenty of bargains out there at auction. There are also plenty of losers. Most who play this game are burned on occasion by unseen dammage or missing parts. I don't allow my self to get caught in the heat of the moment ever. I set a value in my head and never go over it. I've lost several cars by $100. In reality it could be lots more. It just depends how high$$ you and one other person are willing to go.

What are you planning on buying?

Hope I helped.

 

Thanks for the help....Here's what's going on. My '91 Mustang was recently stolen and recovered but it was stripped clean. There is however NO body damage at all. The insurance guy came yesterday and declared it a total loss. I bought the car brand new and it has alot of sentimental value so I wanted to keep it and rebuild someday. Since this is my first time dealing with something like this I don't have a clue how it works. I would be willing to pay 20-30% to keep the car but now you have me concerned. What did you mean about checking to see if I can even rebuild it? Doesn't it just get a salvage title but you can do what ever you want with the car? I looked on line last night but could not find any info on salvage value type stuff. The KBB on the car in the condition it was in was $4065. I am trying to dig up all my photos and receipts for the insurance company to show the car was worth much more than that but it's my fault for not carrying additional insurance. If I were to sell the car in the condition it was in (before the theft obviously) I would not take less than $12-14,000. I know I would probably never get that for a '91 but that's what it was worth (to me) and that would just cover the parts invested in it. Thanks again for any help.

 

I also have a 91 LX. It is a emerald green hatch. I bought it as total from a private party so it has a clean title. It will be gettin' a 351 with a turbo this spring Hopefully it will run mid 11's on low boost in street trim.


If the title stays in your name you won't have any problems. It will still have the same title as before. If the insurance company takes the title and brands it "salvage", you may have title issues. Some states only allow licenced rebuilders to rebuild salvage cars. In those states, without a licence you will not be able to title it. If you are able to title it in your state from salvage, it will most likely be labled "salvage rebuilt". This will hurt the value typically 20-30%.

If I were in that situation, I'd probably ask them for the car + their original cash offer. With most insurance companies, it may be a huge fight to get them to cover aftermarket accesories and hot rod parts. The car has little value to them and they will have the financial liability of taking it to auction. I think that is about the best you can do, unless you had supplimental coverage for the hot rod parts

Let me know how it works out.

 

Hey Bent6, just got back from a meeting with the insurance company. I took them all the receipts, photo's, a list of modifiactions, everything I could think of. She said it will take a couple of days to go through everything and get with the underwriters but she did say that they will not use blue book value. They are going to do it based on fair market value for my immediate area. What do you think about that? Is this a good thing?