Buying a car with a theft recovery title... Should I do it?
09-22-2010, 08:29 AM
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Buying a car with a theft recovery title... Should I do it? I found a super clean 2002 Acura RSX type-s with only 64k for $6000. The only problem it has is that the blinkers don't work, so I would just get those fixed. I talked to the guy, and he said it has a salvage title as a theft recovery vehicle. What does this necessarily mean to ME? Should I look elsewhere, or should I take the offer?
09-22-2010, 08:39 AM
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If it's still clean, the reason it has a salvage title means the insurance already paid the previous owner for it. If it was missing for long enough, they make it a total loss and pay out. If it comes back, they'll usually send it to auction. I'd get the carfax and go through it real well before buying it though.
09-22-2010, 05:23 PM
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As long as the car has a blue title, you should be fine. It will say "salvage" in the remarks on the title. If the title is pink, that means it will require an inspection and rebuilt affidavit will have to be filled out along with a $65 rebuilders fee pls the title transfer fees.
09-23-2010, 09:26 AM
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Back in 80s & 90s when I was rebuilding total cars, a typical 'salvage title' discount was 20-25%. That should still hold true. More than 50% of buyers will not even consider buying a car with salvage title, and most dealers will not take one in for trade.
