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Discussion Starter · #1 ·
I have recently found a 68 GT/CS with a salvage title. No evidence of a wreck. Really nice paint and but the car needs the interior and the engine tranny cleaned up and installed.
The price is right.

This could have been just a dumb mistake of not getting the car verified back when purchased.
Simple thing..get a CHP officer to validate the VIN when filling out the lost title forms.

What is the opinions on the salvage title?
 

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I guess you never know, in ohio it could have been impounded, or junked and the salvage company obtained a salvage title, here you just have to get the car inspected by OSP to have a new title issued. If its a restore project anyway and the price is right go for it. I recently purchased a garage find, the owner who was 70 couldnt find any paper and owned the car since 1972, the plates expired in 1989, I just had to petition the local court to issue a new title, it cost me $250
 

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If the price is right buy it. I may use it against the buyer to try and get a better deal but it wouldn't bother me.
 

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I pulled my car from a junkyard and rebuilt it. Nearly everything that can be replaced was. Every bolt on the car has been removed and reinstalled by me. I have a salvage title because the car was in a JY. Does it bother me to have one. Not this car. Will it hurt resale. Who knows I don't plan on selling it. If it is a clear title and the car is worth the selling price to you go for it.
 

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Salvage titles can come about in many ways. Here's how mine got one:

I t-boned someone in my car back in 1993. At the time we were trying to sell it and we had a flyer posted in the back window with an asking price of $3400. The wrecked car went to a body shop of my insurance's choosing (I was 16 - didn't know any better) and as soon as the insurance adjuster saw the $3400, that was the value of the car. Body shop said >4500 to fix it. Car got totaled out. We bought it back from the insurance company and started restoring it again. We did all the work for $1800 in parts/paint.

No frame or other structural damage. Just sheet metal.
 

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What is the opinions on the salvage title?
If it's going to be restored to concours condition and could be eventually sold as such, you may have problems with the salvage status of the car.

If you're just going to rebuild it, drive it around and sell it as a restored car, you should be okay.

Something interesting though... a few years ago, I used my personal cash stash to jump all over a "I need the cash now or they're going to kill me" type deal. It involved my wifes cousins neighbors friend and a BMW Z3. Beautiful little car, low miles, excellent condition, etc, etc. I flew out West, paid cash for the car, drove it back East and when I went to my local bank to get a loan for the car (to replace my cash), the bank said no. The car had been stolen a few years earlier and popped a red flag on the CarFax report as a salvaged vehicle. The title did not reflect that it was a salvaged car. There was absolutely nothing wrong with the car. It was in excellent condition with no evidence of anything warranting a "salvage" title, but the bank would not loan money against the car due to the CarFax report and I had to build my cash stash funds back up.

I don't know if this is true with all banks, but it's something to consider. If you buy the car, fix it up and then try to sell it sometime in the future, would the next guy have a hard time getting a loan against the car?

Dave
 

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Salvage titles (wreck or junk rebuilds) are pretty common for cars sold cheaply (under market) on places like Craig's list.

Generally it is something that will haunt the car for its remaining life unless you "wash" the title which is considered illegal.

If you plan on keeping the car the rest of your life and feel comfortable with the repairs ... then buy it. Just be aware that its value to some future buyer will likely be 50% of a non-salvage title car.
 
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