Home     Links     Contact Us     Bookmark  
 
   Homepage      News      Legal Forum      Dictionary  
Home : Legal Forum : Insurance & Registration

What classifies a car title as "branded", "reconstructed", or "salvaged"?
Find answers to your legal question.





What classifies a car title as "branded", "reconstructed", or "salvaged"?



    




Terry D
BER= Beyond economical repair. Stay away from them.


Giovani
On the front of the title will unavoidably say somewhere
reconstructed or salvaged

This is when the car was totaled in an accident,damaged more than 70% of the vehicles book value. The insurance company towed it to an insurance yard and was purchased by a repairman, then , fixed by him for re-sale.

The title is branded to let all buyers ,for the life of the vehicle ,to be aware of this.

If your considering buying a repaired car,the vehicles value is automatically 20% less than full book value. I have seen many, and would say 40% of them were damaged in a way were if repaired by an average body repairman, they would still be 99.9% the same as a non accident vehicle.(most of these had the damages to the rear of the car)
The other 60% are damaged in a more critical way, to be vague.

It would not be logical to pay full book value a branded car as the same amount of money can buy you a non accident car. When it is time for you to sell it it will require you to offer a 20% price discount to incline a buyer to buy it over a non accident vehicle.

example/ 04 Chevy blazer book value...............................$14,...
one with branded title........less 20%...............................--$ 2,900
___________
new book value......................................

Searching for a very discounted sale price, buying a branded car can be logical. I have bought many.

Prior to buying I would, pay a $75.00 fee to a good body shop to pre-inspect the car.Any seller not agreeing to let you do this means walk away.

good luck
John


mbrcatz
Rating
I'm not sure what you mean by branded.

Salvage title, means, that the car was a total loss. That means, there was enough damage, that the cost to repair the damage was more than the car was worth. Now, if you've got a $500 POS with two broken windows, those windows make the car a total loss.

If someone BUYS that car, that the insurance company totalled out and put a salvage title on, and they want to put it on the road again, they have to fix the windows - make it roadworthy, pass inspection, etc. Once they do that, they can change that salvage title for a "reconstructed" title.

A car with a salvage or recon title is worth about HALF what the KBB private party sale says it's worth, so if you're thinking about buying one, keep that in mind. If KBB says it's worth $6,000, if it has a salvage or rebuilt title, it's REALLY only worth $3,000.





 Enter Your Message or Comment


User Name:  
User Email:   
Post a comment:




Legal Discussion Forum

 Can a person who doesnt have a drivers license buy a car and get insurance?
...


 Transfer of international license into a US one?
In which US states can one transfer an international license into a US one?...


 Can you drive someones car in the state of Ohio without insurance?
If that person's car your driving has full coverage?
Additional Details
i thought insurance applied on the car not my driver.
my mom said that what the insurance people said. i ...


 Illinois/DMV?Road test?
so i want to know how many tries do you get to get your license and how many chances u get to take da road test?...


 Cheap insurance for Yong driver and what older car?
...


 Who is the registered keeper of a lease vehicle?
Not sure how to complete insurance application....


 Motorbike theory test?
Would like to know if I would have to do a motorbike theory test if i already have a car licence as I am interested in doing my direct access test....


 How do I transfer a vehicle into another name?
My dad and I are both on the title for my car. The car is leased, can I get the car put in just my name?
Additional Details
I guess I meant to say registration. our names are on the ...


 How do i get car registered?
bought from individual seller and he bought it from some lady years back but he never got it registered in his name and now i have it.so how do i go about getting it put in my ...


 Car lean and no title now?
i "bought" a car on 1-22-09, at my bank. well i bought it from a kid with a loan through my bank. we both signed the title and my bank said they had to send the money and the title to gmac ...


 Question about drivers license in New Jersey?
I'm 17 turning 18 in a few months. I don't have my permit yet, but the DMV site says I can get my provisional if I pass the road test without having a learners permit. Would just like some ...


 Hi- cap license in CA?
Im still kinda new to guns and even newer to california and I need some help... does anyone else know if i can get a hi-cap license in cali? I would really like to get a glock 23 but i cant find one ...


 Getting My Permit at 15?
Ehh im currently 15 yrs old right now and is gonna take driver ed in spring break, just wondering how long do i have to wait to get my permit if im already 15 ???
cause 15 is when you get your ...


 What is totalling with insurance...?
when your car insurance company says, your car is totalled...
dumping the car, the only choice we have...?
can we argue with them, to get it fixed, if you were emotionally attached to your ...


 Do doctors use own car or use another car?
...


 How do I go about getting a hardship license ?
I am 15 and have good grounds to get a hardship license. How do I go about getting one?...


 If i cancel my car insurance with directline...?
if i cancel my car insurance with directline before the 14day cool off period is over do i get my deposit back?
Additional Details
No i actually have the insurance but i want to cancel ...


 Wrong date on the title?
I sold my car in a private sale and I accidentally signed the title for february 12th instead of the 2nd. can i get in any trouble for that? could they make me take the car back? please help....


 I had a car signed over to me, but I dont have a driver license?
My grandma cannot drive her car no more and is on life suppost and signed to be tooken off in a week. She didnt want her son ( my uncle) to take her car or have any of her prize possessions due to ...


 Was in car accident this morning, have a few questions regarding insurance...?
The vehicle that hit me has liability coverage (good for me, bad for them) anyways, they moved recently from PA to WI. Under PA law they had to carry at least liability, and from the looks of it, ...




Copyright (c) 2009-2013 Wiki Law 3k Tuesday, July 29, 2014 - Trusted legal information for you.
Archive: Forum  |  Forum  |  Forum  |  Links
0.044