effect of salvage title on value?

seery · 11-01-2007, 08:00 AM

Hi,
I've got a 1970 911T that I bought back in 1999 with a salvage title. I rebuilt the engine (from a 1971) and fixed the car up mechanically. I used it as a daily driver for a few years and then have left it sit in the garage for the last few years while I worked on the house. I am in the process of getting the car back on the road but it needs some rust repair in the front pan and a spray job, the car was orginally orange, then black at some stage and white when I bought it.

My question is, is it worth putting a lot of money into a car with a salvage title or would I be better of selling the car as is and looking for a car with a clean title and matching numbers?
It seems how ever nice I fix the car up it will always have a black mark against it having a salvage title. It's ok if I keep the car forever but what if I want something different in a few years and I can't get rid of it?

Any advice would be helpful

tsiegwart · 11-01-2007, 08:49 AM

Is it still a "salvage title"? Or at one time was it a "salvage title"? There is a difference, a lot of states don't even let you register the car with the title from the salvage. They require that the car be inspected and proven "road worthy" and at that point the "salvage" is removed and the car is re-titled. Likewise, transfering a true "salvage title" is difficult.

With a clear title after post restored inspection, the fact that it has a "salvage title" in it's history certainly impacts the value.

At some point however, the history of the car becomes so long, does it make the car any worse. How many long hoods have been "completely restored" and recovered from rust. How is that any different in drivabiltiy than a car which was restored from a crash. I guess it depends.

I would say that it does certainly impact the value.

seery · 11-01-2007, 09:22 AM

When I bought the car the title stated "salvage" and when I changed it into my name it still stated "salvage" I am not sure why it was salvaged but in CA I don't think you can remove that from the title. It does not look like it was crashed but it could be a theft recovery or something and the insurance company wrote it off.
Check out the DMV website on salvage titles,

http://www.dmv.ca.gov/pubs/brochures/howto/htvr16.htm

tsiegwart · 11-01-2007, 10:53 AM

Well, I guess it's hard to tell. The buyer is going to know with CARFAX or Autocheck that the vehicle was salvaged anyway. I just don't know how hard it would be to re-title that car in another state.

That being said...

It's a long hood, which appears to hold it's value very VERY well and you are in the state of CA already, which aurguably holds the most people who want that car. So it's doubtfull you wouldn't be able to sell it. It's just hard to know the price point.

don911 · don911's Garage

The pool of buyers will shrink not only because of the salvage history but if financing is needed some banks won't do a vahicle loan for it. I looked at a salvage car when I was buying and my bank's policy was no loan. I would have had to do a higher rate non auto loan to finance.

Macroni · Macroni's Garage

The effect is not as great on long hoods. They are of limited availability.
It all depends upon the re-build.

keez · 11-02-2007, 06:07 PM

Just went through this a couple of years ago...purchased a 65 chevy II nova with a salvage title in Cali...stayed as a salvage title when I registered it in my name in Cali. Brought it out to Maryland to use and they issued a straight clean title for it. No problem, no questions, no inspection....just sold that same car in Maryland and still stating a clean title. I don't know what would happen if I brought it back to Cali to register again but now it's running around Maryland with a clean title. And my understanding is that Carfax doesn't track older cars.

techweenie · techweenie's Garage

The impact of a salvage title on a car's value declines over time. from 20-30% on a near-new car to maybe 10% on a longhood driver.

Exporting such a car to any of several other countries will remove the 'salvage' designation if the car passes scrutiny.

speedracer07 · speedracer07's Garage

Thre Is Allways Some One Out There Who Just Likes That Car No Matter What Regardless Of The Fact That The Car Has A Slvage Title ,i Say If You Really Love Porsches And That Particulary Car Is Winking At You ...you'l Wannna Buy It With Out Thinking Too Much Of Any Conseqences Down The Road .

If You Do A Good Job Of Building It Right ,most Of Entusiasts Want A Driver Not A Collector/garage Queen.