Can I consider buying this Corolla with 'rebuilt title' ?

[radhak]

I've tried to get some sense of what 'rebuilt title' means, and seems like if the discount is steep enough, it might be worth it. Or is that being overly simplistic?

This CL advt says
Toyota Corolla 2008, Drive very Good.Transmision Automatic.Rebuilt Title; only damage Front Bumper y Fander Right; replase for Parts New.Airbag Good. Miles: 46 313. .PRICE FIRM.

The blue book says this car should sell for around $11,000. Is that a good difference to make sense? Will I have trouble insuring the car, or selling it five years later?

The pictures make it look pretty good

 

[Ryan]

Yes - insuring and financing can be an issue depending on the company. Also - you might as well consider it worthless in 5 years.

The worst mistake you could make is thinking the car is alright based on how it looks cosmetically. Considering it had enough significant damage to the front end to salvage the whole car, you can kiss any crumple zone protection goodbye. It might "look" ok, but the car will never perform the same in the event of a crash.

Watch this video for a crash test: http://www.youtube.com/watch?v=yjxM9chAe1k

Stay away from it - your life and well-being is not worth saving a few bucks.

 

[gorb]

7500 for a corolla with a salvage title? no thanks

 

[radhak]

7500 for a corolla with a salvage title? no thanks

Is that a diss on the price, the car, or the 'salvage' part?

That price for any 2008 car is pretty good, but for the 'rebuilt', right?

And is there any difference in 'salvage' and 'rebuilt'?

 

[HybridSquirrel]

Is that a diss on the price, the car, or the 'salvage' part?

That price for any 2008 car is pretty good, but for the 'rebuilt', right?

And is there any difference in 'salvage' and 'rebuilt'?

'salvage' means it is still considered damaged by insurance. it also isn't road legal. 'rebuilt' means it was rebuilt by a certified shop from salvage status and is street legal.

 

[ch33zw1z]

Salvaged title? Move along...

 

[SuperSix]

Ask for pictures of the damage.

 

[bruceb]

It would all depend on why it has a salvage title. Also check with the local DMV to be sure you can get a registration and plates for it. And I would try to talk them down to say $6,000 for it.

 

[mmntech]

'salvage' means it is still considered damaged by insurance. it also isn't road legal. 'rebuilt' means it was rebuilt by a certified shop from salvage status and is street legal.

If its been in any sort of serious collision that would warrant this, I'd stay away. Crushed body panels are one thing, chassis damage is another. Even if it has been "certified". Personally I'd take that money and use it as a downpayment towards a brand new one. Despite the higher costs, it's under warranty and you know what you're getting.

 

[Greenman]

'salvage' means it is still considered damaged by insurance. it also isn't road legal. 'rebuilt' means it was rebuilt by a certified shop from salvage status and is street legal.

That's not the case in my state. Salvage title cars are completely road legal if they have been repaired. The title will always say "salvage". I had a Ford Focus that was a salvage title, got it cheap and it was a great little car. Got side swiped and the other fellows insurance paid me fair value for it.

 

[soccerballtux]

Yes - insuring and financing can be an issue depending on the company. Also - you might as well consider it worthless in 5 years.

The worst mistake you could make is thinking the car is alright based on how it looks cosmetically. Considering it had enough significant damage to the front end to salvage the whole car, you can kiss any crumple zone protection goodbye. It might "look" ok, but the car will never perform the same in the event of a crash.

Watch this video for a crash test: http://www.youtube.com/watch?v=yjxM9chAe1k

Stay away from it - your life and well-being is not worth saving a few bucks.

staying away is overrated. I got a 2006 tC with 2008 engine (20k on it) rebuilt title in 2010 when people here said RUN! for $7200 (would have cost $11-13k otherwise back then) and it's doing great.

 

[Ferzerp]

staying away is overrated. I got a 2006 tC with 2008 engine (20k on it) rebuilt title in 2010 when people here said RUN! for $7200 (would have cost $11-13k otherwise back then) and it's doing great.

Have you been in a major accident with it yet? If not, you aren't addressing his point at all.

 

[thedarkwolf]

As long as the price is right I wouldn't have a problem buying one. I bought a mustang with a rebuilt title years ago. The biggest problem you will have is finding somebody that will buy it when you are done with it. Took me forever to sell that mustang and it was way WAY cheaper than the same car with a clean title. Most people are like the people in this thread that think rebuilt = death trap.

 

[yhelothar]

I had a salvage title Miata that I been through a pretty bad frontal wreck in. I walked out without a scratch. I also was lucky there wasn't any mechanical issues associated with the prior damage. YMMV. It's definitely worth checking out if it was rebuilt properly though. But if it is, you may have yourself a deal.

 

[HybridSquirrel]

That's not the case in my state. Salvage title cars are completely road legal if they have been repaired. The title will always say "salvage". I had a Ford Focus that was a salvage title, got it cheap and it was a great little car. Got side swiped and the other fellows insurance paid me fair value for it.

I am pretty sure it varies by state. I also think Salvaged cars mean that insurance paid them off, and Rebuilt means it was totaled, but insurance fixed it anyway?

 

[Throckmorton]

LOL, half the new price for a "rebuilt" 5 year old car.

 

[EagleKeeper]

Find out via the DMV the insurance company that salvaged the vehicle. They can tell you why such.

 

[HarryLui]

Different states have different laws, but there are generally several way a car can get a salvage title.

Crash, stolen, or flooded are the primary reasons.

http://usedcars.about.com/od/safetyratings/a/SalvageTitle.htm

If I know details of why it was declared salvage, and how it was repair to get it back to a rebuilt title, I might consider looking at it. I wouldn't buy it until I pay a mechanic too look at all the repair in details though.

 

[Arkaign]

Different states have different laws, but there are generally several way a car can get a salvage title.

Crash, stolen, or flooded are the primary reasons.

http://usedcars.about.com/od/safetyratings/a/SalvageTitle.htm

If I know details of why it was declared salvage, and how it was repair to get it back to a rebuilt title, I might consider looking at it. I wouldn't buy it until I pay a mechanic too look at all the repair in details though.

Truth. At least it's post-Katrina. Down here in TX, we got a "flood" (lol) of salvage-title recent model cars, and trust me, flood damage is a nasty nasty thing to have. I know a guy who bought an '04 7-series with salvage title for about half of market value, but it was nothing but trouble, electrical issues out the wazoo and then a strange smell cropped up in summertime that wouldn't go away.

 

[paperfist]

Get it checked out by a mechanic or body shop. Like with anything else the seller is either honest or sugar coating the problem.

I have a '07 focus that had hail damage that I bought 2 years ago for $3k and haven't had any problems 80k later.

It varies by state but here in NY banks take off a model year for valuation. So if you're buying a '09 they will only value it as a '08. You can get full insurane and if you total it you get full book value.

 

[Excelsior]

Folks, if it has a rebuilt title the OP doesn't need to "check" if it can get registered in plates. The person selling the car has clearly already gone through the DMV to get the rebuilt title. I know from experience. (I own two rebuilt cars).

Also, there will not be a problem getting in insured, but the insurance company would likely not allow collision coverage (just liability).

The most important thing with buying a rebuilt car is gauging the seller honesty, story of how the car got the title, having it thoroughly checked out by a mechanic/shop (just like a normal PPI), and getting a good deal on it.

 

[Zivic]

Folks, if it has a rebuilt title the OP doesn't need to "check" if it can get registered in plates. The person selling the car has clearly already gone through the DMV to get the rebuilt title. I know from experience. (I own two rebuilt cars).

Also, there will not be a problem getting in insured, but the insurance company would likely not allow collision coverage (just liability).

The most important thing with buying a rebuilt car is gauging the seller honesty, story of how the car got the title, having it thoroughly checked out by a mechanic/shop (just like a normal PPI), and getting a good deal on it.

I have dealt on rebuilt cars before. You can get collision coverage without issue. the car has value and the insurance will repair based on that "value".

 

[halik]

Ask for pictures of the damage.

This. May not be a bad deal for a commuter econobox and in FL you don't have to worry about compromised rust protection etc. No idea on pricing though.

 

[Black2na]

i can tell you the rear has been hit or atleast repainted as the emblems are not exactly in the stock locations. so pull up the trunk carpet and look to damage behind the carpet. PAY FOR A PREPURCHASE INSPECTION do this at a trusted dealer/mechanic. they will be able to tell pretty quick if the car is still sketchy. and people on here are correct the value of the car is considerably less then a clean title car hence its low price and no bank will touch it for a loan. but if repaired properly a rebuilt car is a great way to get into a newer car for much less money you just need to be very carefull about them. do the inspection it will tell you everything you need to know and if a buyer is unwilling he has something to hide. which mean just walk away. and if you get the carfax and figure out what insurance company totaled it you can get a copy of the repair order (minus customer info) and lets you know exactly what totaled the car. i did that when i bought my spyder salvage i needed it for the inspection process to make sure all the damage was fixed and fixed properly

also it was a pretty good impact if the firefighters cut the battery terminals. the corolla doesnt have the factory OEM terminals on it.

 

[halik]

i can tell you the rear has been hit or atleast repainted as the emblems are not exactly in the stock locations. so pull up the trunk carpet and look to damage behind the carpet. PAY FOR A PREPURCHASE INSPECTION do this at a trusted dealer/mechanic. they will be able to tell pretty quick if the car is still sketchy. and people on here are correct the value of the car is considerably less then a clean title car hence its low price and no bank will touch it for a loan. but if repaired properly a rebuilt car is a great way to get into a newer car for much less money you just need to be very carefull about them. do the inspection it will tell you everything you need to know and if a buyer is unwilling he has something to hide. which mean just walk away. and if you get the carfax and figure out what insurance company totaled it you can get a copy of the repair order (minus customer info) and lets you know exactly what totaled the car. i did that when i bought my spyder salvage i needed it for the inspection process to make sure all the damage was fixed and fixed properly

also it was a pretty good impact if the firefighters cut the battery terminals. the corolla doesnt have the factory OEM terminals on it.

Good eye