So my GN's "prior salvage", value?

[Crazy D]

My state recently changed the look of their registration. While before my registration made no mention of anything, and the title doesn't say a damn thing, now "prior salvage" is front and center on the new registration.

When I bought the car in Illinois I think it had "rebuilt" on that title. The guy I bought it from didn't say a word about it, but was eager to show me it had been appraised at $11,500. I called him halfway home (to Des Moines) for an explanation, though at that point I was already screwed. He didn't have one, really. Boy I'd love to kick that guy's ass.

Now, I read something about Illinois automatically determining a theft recovery "rebuilt", is that right? Because the car shows no signs of being wrecked, but one of the first owners was a police chief (as in, he could have bought it easily after the recovery).

Anyway, I never gave any thought about any of this since it wasn't listed on the Iowa stuff, I figured it was some stupid Illinois thing, and since the car didn't have any signs of being wrecked...
I was considering selling the car, but now I don't know what a fair price is. The car's the same car I HAD wanted $9000 bottom line for, but I know the salvage designation is an automatic ding (though again, I don't know where the "salvage" comes in, and the car's the same car I had asked 9k for). Here's a link on the car:

http://www.turbobuick.com/forums/showthread.php?t=165858

Opinions?

 

[bruce]

Boy I'd love to kick that guy's ass.

Opinions?

It's buyer beware, there's no reason to get mad at him, for your purchase. Hate to say that, but, it's the way the law is.


A clean, straight, unmolested car with always go for a good price. That said, I think the whole economy is due for a down turn, and some of the muscle car prices are going to take a hit.

 

[steve hughes]

I don't know what to tell you but just because the title says salvage doesn't mean it was wrecked. It could also have been stolen and recovered or stripped.

 

[DCVING 6]

Now, I read something about Illinois automatically determining a theft recovery "rebuilt", is that right? Because the car shows no signs of being wrecked, but one of the first owners was a police chief (as in, he could have bought it easily after the recovery).
QUOTE]

From what I've been told that is correct. Try and run a carfax on it. If it is a "theft recovery" it should say it on there.

 

[jdpolzin]

WOW, no offense man but DAMN I"M GLAD I DIDN"T BUY THAT OFF OF YOU!!!! You never mentioned that it had a problem with the title when I was interested in it. Sorry to hear about the bad luck. The way I see it, even though you don't want to hear this, is that cars with problems with the titles are definately not worth as much. Even though there may have never been any damage, it's going to look bad for potential buyers. ------Jeremy

 

[Crazy D]

WOW, no offense man but DAMN I"M GLAD I DIDN"T BUY THAT OFF OF YOU!!!! You never mentioned that it had a problem with the title when I was interested in it. Sorry to hear about the bad luck. The way I see it, even though you don't want to hear this, is that cars with problems with the titles are definately not worth as much. Even though there may have never been any damage, it's going to look bad for potential buyers. ------Jeremy

Yeah, haha, that would be because I didn't know there was a problem with the title. I thought "hmm, Illinois is stupid, but hey, my Iowa title is clean,and so is the car, so all's well".

And I'm sure nobody will want to pay very much for the car, so I'll drive it til it falls apart if I have to (perhaps a foreign concept to some).

I was hoping to get estimates of what the car is "worth" now, or what someone would pay, but barring that, we can just let this thread die.

 

[salvageV6]

"My state recently changed the look of their registration. While before my registration made no mention of anything, and the title doesn't say a damn thing, now "prior salvage" is front and center on the new registration."

If the title is clean sell it with a bill of sale and the title.

Toss the registration in the dumpster when you return the plates.

You shouldn't need that to sell the car.

You could sell it just the same nice way it was sold to you.

After all it's buyer beware.

Then again I'd just drive it until it died anyway.

If you could prove to me it wasn't totally rebuilt and it drove right and had the right motor and tranny in it I'd pay the proper price in my mind for the mods. and condition. I'd still lowball you however.

Already got two however.

 

[TURBOTIMMER]

I know on regular non collectible cars, a reconstructed title cuts the value of the car in half. I think its different story with our cars. I bought my white 87 T as a theft recovery. I basically bought it in boxes. For a long time, I refused to work on getting it back together because of the title status.

My advice. Keep it and drive the wheels off it. Its still a GN.

 

[Grumpy]

salvage title def hurts the car some BUT like other have said DRIVE it into the ground !!! Thats what I would do :biggrin: Is the milage "true" on your car ???? Usually the interiors are nicer than that at only 55k

 

[WIKEDV6]

I have sold GNs with rebuild titles; as a matter of fact I have three on had with rebuild titles. It could be from a wreck, flood damage, hail damage or theft recovery. All these cars comes with Salvage titles in Illinois when you buy it from an insurance auction. You have to have a rebuilder's license and a dealer license to obtain these cars from the insurance auction. Once you fix the car either from a major frame work from a wreck or just replacing the steering column from a theft recovery, you have to take the car to state inspection. Once the car passes the inspection, only then the car gets a rebuilt title so that you can sell it to the public. I also had a GN stolen with a rebuild title and got full compensation from the insurance. They also knew that the car had a rebuild title.

HTH
Prasad

 

[GNFURY]

As long as the car was repaired correctly, I would RATHER have a salvage title car. IF you want to keep the car forever, a salvage title car should be able to be bought for 1/2 of the price of a non salvage car. Who gives a **** if the car was wrecked 5 years ago. Its fixed now................

 

[NCTyphoon]

My GN was totaled a few years back. I bought it back from insurance and had it fixed, frame and all. If you did not know what it looked like after the wreck, you would never know it had been in one.Fixing the car was by far the best decision I ever made.Does your car run okay? Any signs as to what exactly caused it to have a salvage title? Did Carfax show anything? I could care less about what the resale value of my GN is now, because I never planned on selling it to begin with. If you are otherwise happy with the car, forget it, keep it and drive on like the others said

 

[WIKEDV6]

I also forgot to mention the fact that if the owner is able to buy the car back or take a cash settlement from the insurance company after it was stolen or wrecked in IL( in most cases if the car is 9years or older you can buy it back), you can fix the car back up and not have it inspected by the state because you still have the car under your name and it will never make to the insurance auction, therefore it will have a clean title. If you add that into the mix you never know what you are buying.I know few cars that’s out there like that too. The bottom line is if the car is fixed properly you shouldn't worry about anything especially if you are going to keep it forever.

HTH

Prasad

 

[Little6pack]

If you like the car & it runs, drives fine then I would say enjoy it.
If the car had problems right away then you have a right to complain.

When your done using the car & decide to sell it do the same thing. Just sell it. I bet there will be someone out there willing to buy it without investigation.