how bad is salvage title?
Thread Starter
Joined: Apr 2005
Posts: 2,169
Likes: 1
From: Dallas, TX / Boston, MA
how bad is salvage title? my DD 3rd gen got hit... only cosmetic damage, but the first estimate i got was $17xx
the lady's insurance company is taking the blame and came out to do an apprasial, they said my car is worth $26xx and want to declare it a total loss. i plan on keeping the car and fixing it. they'd deduct a $500 salvage value if i keep it, so i'd get $21xx from them.
we didnt have this 'salvage title' crap in MA, so i dont fully understand the implications of it. how bad is it really, and is there any way for me to avoid getting slapped with that?
the lady's insurance company is taking the blame and came out to do an apprasial, they said my car is worth $26xx and want to declare it a total loss. i plan on keeping the car and fixing it. they'd deduct a $500 salvage value if i keep it, so i'd get $21xx from them.
we didnt have this 'salvage title' crap in MA, so i dont fully understand the implications of it. how bad is it really, and is there any way for me to avoid getting slapped with that?
On a older car that isn't really a collector item personally i wouldn't worry about it. The salvage title will hurt you when you try to sell it, obviously some buyers shy away when they see it has a salvage title. I have never titled a vehicle with a salvage title in TX, but i would guess you will have to get the car re-inspected and i believe some insurance providers wont offer full coverage on a salvage titled vehicle. I had a motorcycle that i bought wrecked and rebuilt in OK, on the inspection the lady just checked to make sure the vin numbers matched up and then to get full coverage my insurance wanted to appraise the bike. Do a google search for texas salvage title and I'm sure you can find the exact process for getting your car retitled.
I'd just tell them to pay you & not call it totaled because you plan to keep it & don't want a salvage title. Tell them if they total it, you are going to take them to court for more money since it's a 'collector' car 
12 Second Club
Joined: Aug 2007
Posts: 508
Likes: 0
From: Rowlett
take full pictures of it all and the process of fixing it, in case you go to sell it with that salvage title, and someone questions it, you can give them the explanation and pictures.
just a thought.
just a thought.
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Search for some insurance threads, there were some in this section over the last month or two & a few people that work for insurance companies chimed in. Get with them & maybe they will have some better/more specific information about your choices.
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I was in the insurance claims biz for 10 years & unless procedure has changed, they will settle with you for your agreed total loss figure less the salvage value, then let you keep the car AND title intact. Only Carfax will reveal the wreck. I've retained salvage for myself & from friends several times. That is the only way to keep the title clean. The pics are a good idea for resale, since a total loss by an insurance company is economic, not structural or safety related. You can confirm this by talking it thru with the adjuster you are dealing with. Good luck! Griff
