Salvage title in Ohio?
 

I'm looking at a vette with a salvage title. Car had been fully restored with full documemtation/receipts then was in a barn fire. Needs a windshield to be road worthy, cosmetic damage was smoke and needs full strip and paint. Anyone ever deal with getting Ohio rebuilt title inspection and any gotcha's I should look out for? Car is priced fair for condition but no room for suprises with inspection.

Thanks,
Frank

Re: Salvage title in Ohio?
 

my first question, why was it put into salvage

Re: Salvage title in Ohio?
 

I don't know what your level of experience is with valuations of totaled vehicles-

You can't base the valuation of a totaled vehicle off of KBB, NADA, or any other "book" values- they simply don't apply. Totaled vehicles, even if they are rebuilt to appear and function exactly like a brand-new vehicle, really have no value beyond their per-pound scrap value and/or parts value. Their only real value, is whatever use you can get out of them.

As an example, I owned a vehicle many years ago, that I purchased brand new for about $11,000. When it was about a year old, with about 12,000 miles on it, it was hit by another car, and totaled by my insurance company for cosmetic damages (no structural damage). The insurance company wrote me a check for almost $11,000, and I immediately turned around and purchased the vehicle back from the insurance company for about $1,500. I repaired the cosmetics for not a lot of money, and continued to use it just like I had been before the collision, for years. Nobody could have ever looked at it and been able to tell that it was anything other than a nearly-new low-mile vehicle, but the flagged title meant that it basically had no value beyond whatever use I could get out of it.

This is ESPECIALLY important when it comes to insuring a rebuilt total- for example, if you bought a car that would have been a $30,000 car if it had a clear title, but you only paid $15,000 because it was a rebuilt total, and then it catches on fire and is destroyed, your insurance company might cut you a check for $3,000. They don't care how much you paid for it- they're only going to pay you what it was actually worth, which was almost nothing, because it was a rebuilt total.

Sorry to get long-winded, but I've seen people screw themselves pretty badly over cars that looked like a good deal to them.

Re: Salvage title in Ohio?
 

He said it was in a fire. ;)

Re: Salvage title in Ohio?
 

Correct, it was in a fire and the damage is windshield delaminated from the heat and clear coat discolored and started to peel. I still have to take a close look at it to be sure nothing more wrong. It currently has a salvage because the insurance paid out for a total loss and owner kept the car. I had't thought of the insurance aspect so appreciate the input, will be calling Monday after I take a closer look at the car on the weekend to see if the car is what it's supposed to be.

Re: Salvage title in Ohio?
 

I haven't done any, in the last dozen years but, I used to rebuild Motorcycles and put them back out, into the world. State Patrol has an inspection station not far away and they were always good to me. Most often all they were concerned with, is the receipts, for the parts. As long as they were satisfied I wasn't stealing bikes to rebuild others, they would move me along.

Re: Salvage title in Ohio?
 

6130, the cause of the damage was fire, i wanted to know what the actual damage was. it the fire was so hot it caused some frame warpage, i or any other average person should stay far away. But clear coat and windshield damage in my opinion is minor and at the right price I would buy such a car in a second.

Re: Salvage title in Ohio?
 

Thanks for the feedback. I called Hagerty, the agent had to put me on hold to confirm but if it gets a road worthy inspected rebuilt title and I can supply pictures they are good to cover like any other classic with no restrictions. They will even cover the car in it's current state but no colision or liability, just comp. I will definitely be giving the car a solid once over. Thanks again.

Re: Salvage title in Ohio?
 

Personal message. I can probably provide some insight to your inquiry after 44 yrs. in the Insurance Industry and handling many salvage claims. Cell 330 447 1785. Leave message if unavailable. Dick K.

Re: Salvage title in Ohio?
 

It comes down to what "the right price" is.

I've seen a lot of people pay WAY too much for vehicles with flagged titles, and being faced with losing a ton of money because of it.

Re: Salvage title in Ohio?
 

all you have proved is some people are stupid, which has nothing to do with my question to the op

Re: Salvage title in Ohio?
 

David, I wouldn't call them "stupid".

They were simply people that didn't know that no matter how good the vehicle looks and drives, it doesn't have any significant value if it's ever been declared a total loss.

Re: Salvage title in Ohio?
 

ok, then they are ignorant and that still has nothing to do with my first comment

Re: Salvage title in Ohio?
 

I don't see the point in applying derogatory labels to them. They're just people that don't know any better. Not everybody is an expert in every area of their own lives. I certainly couldn't be my own doctor.

I used to manage auto repair shops, and had a pretty good eye for this kind of stuff when doing pre-purchase inspections. I discovered a lot of rebuilt totals that were not declared as such by the sellers, and in doing so, I saved a lot of prospective buyers a lot of heartache. These were normal families, who thought they had found a good "deal" on a used car, and I was able to protect them from the financial predators that were seeking to victimize these good people.

Re: Salvage title in Ohio?
 

if they are not educated in this they are ignorant. Admitting ignorance in a subject is an honest position. I admit ignorance every timer i ask a question.

Amd none of this still has nothing to do with my original question to the OP.

Re: Salvage title in Ohio?
 

Thanks for the input. We couldn't agree on a price so ended up walking away, it wasn't priced as a sweet deal because it was a salvage but the car was as advertised. Ragtop 69 Vette 350-350hp matching numbers 4 speed.

Re: Salvage title in Ohio?
 

Probably for the best. The term "numbers matching" is meaningless on a salvage title car.