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  #1  
Old March 10th, 2011, 10:01 AM
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1995 D90 SW #314, 59 SII 88 HT
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Salvaged / Rebuilt Title

What is the consensus on a bad title? I have seen 3 trucks in the last week that have not had a clean titles. For me I would never purchase a truck without a clean title unless it was crazy cheap where I could part it out. I would be more inclined to purchase a clean imported truck. I would also be more apt to purchase a truck that needed cosmetic or mechanical work... Stuff you can fix, you can't fix a title.

What do you guys think? Is there a general rule of thumb for diminished value? 30%? 40%?
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  #2  
Old March 10th, 2011, 10:34 AM
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barry f
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I feel the same way you do. Most of the trucks coming up are trail rigs and they are priced right to have fun in them but they are not the kind of trucks worth stripping for parts.

I have a friend who used to swear that buying a salvage car is the best use of money. He bought a jag R type for as he put it pennies on the dollar. I think he dropped 14k on the wreck. He then proceeded to spend 20k to make it as good as new. As soon as he was done he sold it for 28k. He never mentions salvage titles anymore.
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  #3  
Old March 10th, 2011, 10:47 AM
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it is because of the crazy inflated prices for the inferior NAS trucks that everyone wants so badly. Back when a NAS Defender was the only way to legally obtain one, maybe that made sense. Or if you really wanted the jeep-like rollcage and jeep-looking black soft top, but don't have 20-30k for a nice one, then perhaps a salvage truck would make sense. But really I don't think it will work for most people.

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Originally Posted by jamespierce View Post
What is the consensus on a bad title? I have seen 3 trucks in the last week that have not had a clean titles. For me I would never purchase a truck without a clean title unless it was crazy cheap where I could part it out. I would be more inclined to purchase a clean imported truck. I would also be more apt to purchase a truck that needed cosmetic or mechanical work... Stuff you can fix, you can't fix a title.

What do you guys think? Is there a general rule of thumb for diminished value? 30%? 40%?
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  #4  
Old March 10th, 2011, 10:57 AM
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thomas
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Quote:
Originally Posted by jamespierce View Post
What is the consensus on a bad title? I have seen 3 trucks in the last week that have not had a clean titles. For me I would never purchase a truck without a clean title unless it was crazy cheap where I could part it out. I would be more inclined to purchase a clean imported truck. I would also be more apt to purchase a truck that needed cosmetic or mechanical work... Stuff you can fix, you can't fix a title.

What do you guys think? Is there a general rule of thumb for diminished value? 30%? 40%?

I am not sure what the laws are in Oklahoma.

In NJ you can have a title "cleaned or re-issued" basically brought from salvaged to a normal title with a state inspection, and documented work. You will never get rid of the history of the salvaged title though. I have looked at different titles for non-Defender cars.

For Example: I have a friend that bought several a stolen recovery cars (Audi, Porche, Mercedes) for stupid cheap at auction, he had to get a new titles for them.... My thoughts when considering buying a car with a dinged title depends on how long you plan on keeping your depreciating asset.... Most cars are depreciating assets.
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  #5  
Old March 10th, 2011, 11:51 AM
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Land Rovers are not investments
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  #6  
Old March 10th, 2011, 12:02 PM
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your depreciating asset.... Most cars are depreciating assets.[/QUOTE]
Someone should tell that to my ex roomate and his inmigration attorney.
about 10 yrs ago he was becoming a legalized alien in the states he did not have any ties to the states so he could show ice a legitimate reason for staying.
so his then attorney suggested he invested in something to show he wanted to remain in the us, according to my ex roomate his attorney suggested "investing on a new car"....
so the idiot purchased a new car.
3 yrs later the little toyota corolla gets totaled... he was pissed to learn his market value was lower than insured value... he was upside down.
who the "f" suggest a vehicle as investement?
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  #7  
Old March 10th, 2011, 12:24 PM
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I bought my 90, and it turned out to have a "exceeds mechanical limits title" issued in Nevada a few years back. Here is my take on what happened: I was flipping through the paperwork, and noticed that a PO appeard to have inadvertently checked the box saying the mileage was incorrect on a bill of sale. Nevada then issued EML title. PO titled in hawaii and florida as clean (he wasnt a shady guy- he didnt even realize that is what happend). I saw EML on carfax, but didnt really care. To me, the truck is in great shape and I know when something has been replaced. The paperwork and mileage on carfax and oil changes supports my claim. But, in the end...the title has a brand in Nevada.

I did the exact same thing 3 years ago with a car that I bought and went to title at the DMV. I was on my way to the DMV and didnt read the title, and checked the box that says the mileage stated is incorrect...and listed the mileage. Luckily, I noticed it while in line, and the PO got me a new title. All was kosher. I believe people make the mistake, as I did, because you misread it and think it reads....the mileage stated is correct....and list the mileage. But, in VA, silence is golden, and no box has to be checked UNLESS there is a problem. So, some of us ritards read it and instantly i am checking a box to say it is correct and listing the mileage.

Long and short is...check the paperwork. If the title has a marking, understand the damage and what you are getting into. -30 to 40% for a NAS with fixed twisted frame, or major work done. But, for no work done and in great shape....you have to be the judge based on the situation. Also understand what the definition of the brand is...salvage to me is bad, but in my case...EML...makes sense why it is titled as such.

I guarantee I can sell my d90 for at least +8k, no questions asked, and I have thought about it. This excludes the tent I already sold and roof rack that I still have (another2-3k). So, in my case, it is an investment.
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  #8  
Old March 10th, 2011, 05:50 PM
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mark kellgren
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When I was shopping for my 110, I was looking for an NAS with a junked motor, since I wanted diesel and didn't want to pay a premium for a working V8. came across one on ebay that was an engine fire and it was just what i was looking for. I probably paid too much for it, but I'm happy with the end result. Had to replace the wings and front end stuff, but the frame is completely rust free. even the front seat fabric was intact thanks to to sheepskin covers. looks the fire was caught quickly. yes it's a salvage title, but I plan on keeping it forever, so I don't care.
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  #9  
Old March 10th, 2011, 06:59 PM
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GAAP insurance would have taken care of that hold as well as Agreed Value Insurance.


Quote:
Originally Posted by carlosz View Post
your depreciating asset.... Most cars are depreciating assets.
Someone should tell that to my ex roomate and his inmigration attorney.
about 10 yrs ago he was becoming a legalized alien in the states he did not have any ties to the states so he could show ice a legitimate reason for staying.
so his then attorney suggested he invested in something to show he wanted to remain in the us, according to my ex roomate his attorney suggested "investing on a new car"....
so the idiot purchased a new car.
3 yrs later the little toyota corolla gets totaled... he was pissed to learn his market value was lower than insured value... he was upside down.
who the "f" suggest a vehicle as investement?[/QUOTE]
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  #10  
Old March 10th, 2011, 07:22 PM
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great for builds- like 90 to 110/130 stretch, buggies, Tdi/diesel repowers, etc. However, those days seem to be gone as when the 90s are hitting 180k+ miles the title history seems to make little difference. Also, a major deal used to be financing, as salvage was all but impossible- again, these days they are too old in general to finance. Lastly, the super low <30k mile trucks need to have all the documentation and a clear title to bring top dollar. And a salvage title can and does sometimes limit your audience of buyers, hence lower demand, and corresponding lower value/sales price.
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  #11  
Old March 10th, 2011, 09:33 PM
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[QUOTE=Rugbier;270661]GAAP insurance would have taken care of that hold as well as Agreed Value Insurance.

yeah not very many people know of it the first time they make a big aquisition on credit.
but the bottom line is who suggests a pos toyota corolla as investment?
I can see other vehicles of particular interest but an $18,000.00 toyota corrolla?
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  #12  
Old June 11th, 2011, 10:57 PM
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Michael Christian
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Interesting thread. I just purchased my first (hopefully last D90) with a branded title of Actual Miles Unknown today. This is a 97 ST with ~34,000 miles on it and has had 3 owners before me. The branded title comes from a ODO failure that was replaced instead of repaired, common mistake that can hit the value 20%-30% for 97s. The records show that the ODO was replaced at 20K and the new ODO shows 14,701 on it now.

I was very nervous about this truck and walked away from it twice. As a true car guy I thought this was the kiss of death and I would never be able to get out of a branded title. I had a PPI done on the truck and it is in great shape cosmetically and mechanically but will always have a branded title. It comes with 25+ pages of dealer work history and repairs, so I feel comfortable with the history of the truck. I know that I could not have found a D90 in this shape for under $45+ in comparing it to ones found on Ebay, at Coopley and the shop in FL (sorry forgot name). I am in it for under $40. I can live with that and hopefully if I have to sell it one day, the next D90 owner will understand and know that he or she is looking at and pay for the value, but I do understand that it was a gamble. One that I was willing to take. In the mean time I plan on enjoying the heck out of this beautiful truck.
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  #13  
Old June 12th, 2011, 08:39 AM
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kevin
1994 D90 300tdi #730, SIII 88
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I think to answer the original question regarding a salvage title, one has to take everything into consideration. First, why does it have a salvage title? If you are okay with the reason or in the case that it was due to damage and you feel the truck was properly repaired, then the price of the truck vs. the price of a comparable non-salvage titled truck becomes the issue. As long the truck is priced as a salvaged title vehicle, you won't take a big hit if you in turn must sell it.
So it comes down to value and your comfort zone.
As was said, you can clean a title and there are more than a few ways to do this. But the salvage history is another story.
My biggest concern with the salvage title would really be the reason it was issued. I have seen a number of vehicles that were advertised as body damage (cosmetic) only when in fact there was major frame damage which was not readily apparent.
Fortunately, the Defender is a very simple and basic vehicle and as such most things can be repaired or replaced, including the frame.
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  #14  
Old June 13th, 2011, 06:35 AM
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just reread this thread, and another point to ponder- what about the trucks with clear titles that have should have been salvage? I have bought a 110 burnt truck disassembled that was clear, and a 90 that was toast also clear title. Point being if it is not reported as burnt, crashed, etc the title shows no 'history'. As always, buyer has to do due diligence these days, inspect and know these trucks.
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  #15  
Old June 13th, 2011, 08:28 AM
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kevin
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Yes and there is also re-titling with a different vin#. Some states are known to be very lax. I use a titling company which always gets me a title for my barn finds.
In the end though, it comes down value.
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