Maxx1

I'm looking at a used S2K that has supposedly only sheet metal damage. It still needs the bumper hood and fender painted.

Is there a standard percentage to deduct for a rebuilt titled car?

Fapout

No standard percentage that comes to my mind, they're harder to resell though as a lot of banks don't lend on salvage/rebuilt cars.

hirev

I am an insurance broker, a salvaged car has no value for comp and coll coverage due to the salvaged title. expect values to be half of normal car values even if the car is fine in your eyes, it is the world that does not value these cars.

2slow2Bfurious

does that mean that no insurance company will cover a salvage title vehicle for comprehensive and collision. Basically only liability insurance is all you'll have on a salvage? So you SOL if you're involved in an accident that's ur fault.

Tripleblackap1

My friend and I have bought cars at the auction, fixed them, and then sold them. Cars get sold for 10% of payoff by the insurance company.

I had a 1999 Acura RL, back in 2004, I got T-boned, not my fault! The insurance company gave me $17500, and offered to sell me the car for $1750. I didn't buy it so it went to auction. We saw it at the auction. Someone bought it and fixed it.

Half is generous for some cars, and fair for others. It always sucks to sell salvaged/totaled title cars.




Fapout: I didn't know you hung out in car talk also.

rioyellows2k

IBased on what we see here, about half of rough book or less than half of KBB "poor." Insurance companies pay less than nothing for your "salvage" titled car. Banks won't lend on Lemon title or Salvage cars in most cases.

TheDonEffect

You can still get comp coll coverages, most insurance companies will extend coverages, yes, even the big ones as they regularly do. When they total the vehicle, they typically get it appraised (yes there are companies who specifically appraise salvage title deductions).
It really depends on the vehicle, an older vehicle that costs under 5000 grand won't have much of a deduction vs. a high end expensive luxury car or sportscar.
For instance, a 240sx, EG, or CRX will be worth generally the same as a clean titled car. Will you get buyers knocking down your door? No, but at that age most of the clean titled cars are crap anyway.
S2000s? Different story, 25-50%?
It's a real hard thing to pin down since it fluctuates dramatically, but generally strictly looking from a book perspective, 25-35%, but of course market conditions may vary and you'll be hard pressed to find a buyer generally.

Fapout

I try not to but occasionally I have to earn my keep on this site. Yo do you have a carfax account? I'm looking for one ran on this VIN... WBSNB93506B583719

hirev

My experience is with California, perhaps in the rest of the country it is not so black adn white. the title report you get when you buy a salvaged car says "salvaged title" right on it, it is the kiss of death in terms of value.

this does not mean that you can't get a great deal on a nice car that has been fixed right, but do not look to Calif insurance companies to offer coverage for physical damage, there is not "average" price on a salvaged vehicle, just look on Kelly blue book site or edmunds.com,etc....for a salvaged value, it ain't happening.

Abdizzle

The 50% value thing is something that people seem to fabricate. I sold my Salvage title AP1, 8 months ago for $9K. My bro sold his Salvage title Evo IX for $17K with 30K miles.

Salvage does not = half value. Look at the 550's/CLS's high end luxury cars that were repaired and put back into the auction, they typically sell for 75% of a clean titles value and depending on demand slightly more.

Better yet get involved in buying/selling/repairing auctioned cars and then you have ground to speak. Many cars are sold by insurance companies in auctions when they have no business being there.

There is a huge market for salvage title cars as much as people here believe otherwise. Some buyers acknowledge that a piece of paper that says Salvage title means absolutely nothing when the car is properly repaired or in many cases didn't deserve a salvage title to begin with. I personally show buyers a before and after so they have a solid understanding of the extent of damage or lack there of. The G35 I'm driving now has a Salvage title and needed a fender/headlight/rim which I bought on G35driver in the same color and slapped on.

Edit: Basically it depends on the car, it's condition and many other factors. I'd say sure 50% for a partial repair that is in pure shit condition. If it's fixed, runs and drives right, no way.