Author Topic: Restore or scrap?  (Read 4665 times)

crossboss

  • Hero Member
  • *****
  • Posts: 720
  • ^ New engine project
    • View Profile
Re: Restore or scrap?
« Reply #15 on: January 15, 2021, 01:40:31 AM »
FWIW, I bought a car once with a salvage title and when I registered it in my name the new title did not say salvage; CA.




You got lucky...and the State of California just 'washed' the title for you!  lol
Just another T/A fanatic. A new project in the works.

67conv6cyl

  • Member
  • ***
  • Posts: 397
    • View Profile
Re: Restore or scrap?
« Reply #16 on: January 15, 2021, 12:30:39 PM »
I always thought that cars with salvage titles were worth less (even when fully restored correctly) because lenders wonít lend money on them....although I am not sure how that works in the collector car world. Does anybody know?

crossboss

  • Hero Member
  • *****
  • Posts: 720
  • ^ New engine project
    • View Profile
Re: Restore or scrap?
« Reply #17 on: January 15, 2021, 04:20:17 PM »
I always thought that cars with salvage titles were worth less (even when fully restored correctly) because lenders wonít lend money on them....although I am not sure how that works in the collector car world. Does anybody know?




A salvaged title will damage the value. Also, some states wont allow you to register and insure them.
Just another T/A fanatic. A new project in the works.

camaronut

  • Member
  • ***
  • Posts: 419
    • View Profile
Re: Restore or scrap?
« Reply #18 on: January 15, 2021, 04:27:56 PM »
I hope this is gonna be a labor of love. 
I know a friend with a 69 Z that was bought in similar condition.
Let me tell ya, this ain't gonna be cheap.
Hope the 69 Camaro buyers market stays hot.

Again, this brings up the incredibly popular subject of a rebody vs. repair / replace.

firstgenaddict

  • Hero Member
  • *****
  • Posts: 2867
  • caretaker of 1971 LT1's 11130 & 21783
    • View Profile
    • Groome Family Automobiles
Re: Restore or scrap?
« Reply #19 on: January 15, 2021, 05:19:46 PM »
I always thought that cars with salvage titles were worth less (even when fully restored correctly) because lenders wonít lend money on them....although I am not sure how that works in the collector car world. Does anybody know?
I thought the same, bought a salvage titled VW passatt for $4500 car got totaled - I told the insurance company upon purchase and then AGAIN after the wreck that it had a salvage title... they did not care one bit, paid off at Kelly Blue Book... I near doubled my money on the car and the wife drove it for 2 years.
James
Collectin' Camaro's since "Only Rednecks drove them"
Current caretaker of 1971 LT1's - 11130 and 21783 Check out the Black 69 RS/Z28 45k mile Survivor and the Lemans Blue 69 Z 10D frame off...
https://plus.google.com/photos/112392262205377424364/albums?banner=pwa

cruiserofland

  • Member
  • ***
  • Posts: 25
    • View Profile
Re: Restore or scrap?
« Reply #20 on: January 15, 2021, 05:44:14 PM »
Fwiw I had no problem registering and insuring my Grandpaís Ď77 F100 here in California after it was totaled by insurance. Took an extra form to keep the original CA blue plates (normally you surrender plates and get new ones when it becomes a salvage title), but getting the salvage restored title was straightforward, just needed a VIN inspection at the DMV and Brake & Lamp inspection at a certified shop to check that the salvaged car is again safe to drive (headlights level, complete brake system inspection, turn signals, hazards, horn, reflectors, reverse lights). Itís as far as I know the only time California requires a thorough safety inspection of all those items.
~Matt
'69 02D RS Z/28

crossboss

  • Hero Member
  • *****
  • Posts: 720
  • ^ New engine project
    • View Profile
Re: Restore or scrap?
« Reply #21 on: January 15, 2021, 06:25:41 PM »
Fwiw I had no problem registering and insuring my Grandpaís Ď77 F100 here in California after it was totaled by insurance. Took an extra form to keep the original CA blue plates (normally you surrender plates and get new ones when it becomes a salvage title), but getting the salvage restored title was straightforward, just needed a VIN inspection at the DMV and Brake & Lamp inspection at a certified shop to check that the salvaged car is again safe to drive (headlights level, complete brake system inspection, turn signals, hazards, horn, reflectors, reverse lights). Itís as far as I know the only time California requires a thorough safety inspection of all those items.




I had to go through this same situation many, many years ago when I bought my 1970 Boss 302 race car. It was never registered, and I had to have it smogged (that alone was not easy, with a race engine--the State of CA ref gave it an exemption), brake and light certified, and VIN check with the CA DMV. Eventually, I was issued a title. What a PITA.
Just another T/A fanatic. A new project in the works.

HawkX66

  • Hero Member
  • *****
  • Posts: 756
    • View Profile
Re: Restore or scrap?
« Reply #22 on: January 21, 2021, 12:50:06 PM »
I bought a 2017 Expedition Platinum totaled with a salvage title. Fixed it, applied for the paperwork and got it inspected. Received a title and insurance with no problem. VA.
Dave
69 SS396 X66 L34 M21 BS
Z23 711 U17 Hugger Orange
Semper Fi! USMC 93-02

Kelley W King

  • Hero Member
  • *****
  • Posts: 1302
    • View Profile
Re: Restore or scrap?
« Reply #23 on: January 21, 2021, 01:14:40 PM »
Vehicles can be totaled and sold by the owner. No one makes them mark the title salvage.
69 Z28 RS Scuncio Hi Performance
69 SS L78
67 SS Chevelle
64 Corvette
66 GTO Tiger Gold
77 Trans Am Special Edition

69Z28-RS

  • Hero Member
  • *****
  • Posts: 5740
  • owner since 4-Apr-1976
    • View Profile
Re: Restore or scrap?
« Reply #24 on: January 21, 2021, 01:45:16 PM »
I think the insurance companys do that, after paying off the owner as a 'total', they sell it thru 'salvage auctions' and that's when they generally lose their original VIN's..
09C 69Z28-RS, 72 B 720 cowl console rosewood tint
69 Corvette, '60 Corvette, '72 Corvette
90 ZR1 red/red #246, 90 ZR1 white/gray #2466
72 El Camino, '55-'56-'57 Nomads, '55-'57 B/A Sedan

 

anything