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How does "salvage title" work anyway?
Arlen Holder > wrote:
>On Sun, 08 Nov 2020 00:11:25 -0500, Steve W. wrote: > >> A salvage title means that the car has been deemed a total loss by >> someone and was written off as scrap. > >Thanks for your advice as I realize this is a "California-only" question. I think a lot of the California weirdness is intended to deal with people with million-dollar exotic vehicles. This is much less of an issue in the South. In Virginia, once a vehicle is salvaged, repaired, then titled as rebuilt, you get a REBUILT on your title, and have no serious problems with insurance. However, getting titled as rebuilt requires an inspection to make sure no stolen parts were used, and once you have REBUILT on your title the DMV now can't do any of the paperwork for anything locally, so any minor title changes have to be sent to Richmond where they will take several weeks. Once you have salvage or rebuilt on your car's title it is effectively not possible to get it removed in many states, whereas in some other states it can be done. So you will see people trading registration from state to state in an attempt to clean up titles on million-dollar exotics. This is apparently legal and not too difficult if you own additional residences in a number of states. --scott -- "C'est un Nagra. C'est suisse, et tres, tres precis." |
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#12
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How does "salvage title" work anyway?
>> After all that, you have the same car, with a different title
>> and different license plates, and a whole 'lotta less money. >> > >Forgot to add, your car is still a piece of crap That's the great thing about cars. If you wait long enough and you take care of it, your old piece of crap turns into a valuable vintage motorcar. That obnoxious kid with the broken-down old Stutz Bearcat? Now he is a distinguished elderly gentleman with an elegant but worn Stutz Bearcat. --scott -- "C'est un Nagra. C'est suisse, et tres, tres precis." |
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