Salvage title in FL

I've been reading up a bit on this, but it's a new subject, so let me know if I've got it wrong so far..

I'm looking at getting a used car with low mileage. The vehicle I want is expensive, and I've come across a couple with salvage titles on ebay. My thinking so far is that it could be problematic, but it could also be a good deal. I would want to have it inspected first, and tell the inspector that I am looking for any possibility of lingering flood damage, frame damage, etc... and that I want any evidence of odometer tampering, some parts look too old, etc.

Now, I understand that there's an issue on resale, but if the car works well, and I get it for half the cost, then I don't care. The reality is if I get it cheap enough, that I'll lose more money on the non salvage vehicle because it will have cost twice as much, and the depreciation will basically be double as well. It's hard to take a bigger loss than paying top dollar for an expensive car that depreciates quickly. I'm planning on keeping the car for a while anyway, so long as it works and runs properly.

I do have some questions, though... like what other questions should I be asking? If the salvage dealer says they can provide docs of all repairs made, and the inspection comes back clean, what other issues are there?

For instance, if FL then I'll have to get inspected for FL title, right? One dealer says I can skip all this by retitling in another state. This brings up all sorts of issues... like can I do that if my license and home are in FL... then how do I retitle down here? Can I retitle down here? If FL has history in their database of car as salvage, seems like that wouldn't help.

Also, what about extended warranties? Can I even get one?

Also, what are FL particulars for insurance? Am I going to have problems getting insurance? Will they insure for lower value? Does it make a difference whether I've gotten new title in another state? If everything works well, and repairs done right, is it possible to get clean FL title?

You get the idea...

I work in insurance so I have somewhat of an insight on these cars. I was considering the same thing.

Flood damage -- DONT DO IT. They typically have problems you can see with the naked eye and you will be putting money into it for the rest of the cars life which most likely wont be long.

Reconstructed -- If done properly, it would be ok, just would need to be inspected by a mechanic first.

Recovered Theft -- Best bet. Some may be missing seats, stereo equipment, other valuable things that are easily replaceable or have ignition problems but most of the time dont take much to fix and be reliable. Some have nothing wrong with them at all.

About Financing -- Some banks will not provide the loan on Salvage titles. You may want to check on that first

Warranties -- Most likely not. If you are at a salvage dealer they might have something but I doubt it.

FL Title -- No idea

Hope this helps. If you need somethin else, just post or PM me

Welcome to your first post on AF.
Proceed with caution on salvage or flood damage cars.
They can have damage that will bite you in the rear many times and even years later.
If you buy one buy it dirt cheap and do not depend on it for your only daily transportation.
Good Luck
MT

Finance is not an issue... I'd pay cash.

It would be my daily transport which is why I'll be as careful as necessary. If I have to pay two mechanics to check it out, or whatever, that's fine... the savings are $10k or over for the cars I'm looking at (Jag S-types with under 30k miles)... that's it's worth investigating a dozen cars before I find the right one.

I'm not likely to shell out the cash for an extended warranty on a regular car... I'm only even asking because it's salvage...

What about insurance rates?

Also, how do I know for sure why it's salvage? I'd love to get one that's theft loss with no damage, but is there some way I can know that other than the salvage dealer's word, asking them for any paperwork, and a mechanic's inspection?

Remember... I'm looking at these on ebay, so I need to have all inspections, paperwork, etc exchanged before the auction ends because I'm legally on the line at the close of the auction. I've been watching the auctions, and I've seen what look to be a few sweet deals go down, but I'm going to make sure I do this the right way.

I understand there's risk in everything, but I'm I guess what you'd call an advantage player. I had over 60k in equity built in when I bought my house... I once got a dealer to cut me a check to drive off with their car, etc... it's all in understanding the numbers and the process... and the pitfalls... and how to avoid them.

Input appreciated...

It may be just me, but I would be very careful about a theft recovery especially on a high performance car. Over revving the engine and other like activities might not show up under even close inspection. I would rather have a small front engine car driven by granny that was hit from behind and repaired.

Which all comes back to the idea that it's a good mechanical inspection that matters most... and an especially thorough one... but how do I know for sure why the title is salvage? I pulled a carfax... or whatever ebays version is on one of the vehicles, and it doesn't specify why it's salvage.

Also, it did say there's a potential problem with the odometer reading... but it didn't say why. The sequence of mileage readings were in the right order... I couldn't see a reason why it would say there's reason to doubt the mileage... but it did give an odometer warning.

Does this happen automatically if it's salvage title, or is there something about this vehicle I'm missing that might trigger that?

There may be a lot of problems that the best mechanical inspection will not show.
Like flood damage to wiring and switches electrical parts and computer systems.
The wiring and computers may start shorting out from hidden damage and water corrosion a year or years from now and give you all hinds of fits and hidden engine trans and rear end damage
or hidden body damage.
That is why you should proceed with caution.
And you can never depend on as your only transportation.
Ask yourself why they are giving you such a good deal on it.
Good Luck
MT

A salvage title is just what it says.
It has been sold for salvage or totaled out by a insurance co. and sold for scrap.
Then some one comes along and buys it back from junk yard or insurance co. and patches it up and sells to someone that thinks they are getting a bargin.
But is really getting a junked out car. :lol: :grinno: :lol2: :biggrin:
Best of luck with it. MT

Well, I've heard good and bad... the reality is that any product is worth exactly what someone is willing to pay for it. In some cases, the salvage title alone even if there were absolutely nothing wrong with the car would drop the price in half or worse because potential buyers balking.

More likely, of course, is that there is some issue. General consensus seems to be that flood damage... salt water in particular is particularly to be avoided... which brings me back to:

Is there any way to tell WHY a car has received a salvage title other than carfax and mechanical inspection? Is there some way, for instance, to tap the manufacturer's database to see if they've nixed the warranty for a particular reason... or find out who insured it previously and why they wrote it off... or anything other than just seeing a salvage notation on carfax?

I am not really up on it.
Does carfax give who owned it last.
The last owner could give you some good info on it.
Also your insurance agent may be able to trace the vin no. and get some info on it.
And ask him about carrying insurance on it with a salvage title.
Not sure about manf. having any records except what warranty work was done and origional owner.
If you know someone in dealership they may be able to get some info for you.
Or on the bright side it may be a good sound car but not much of a way to know untill you have drove it for several years.
Good Luck MT