salvage title
 

what effect does this have on car insuarance and a loan from a bank?

nobody knows?

As far as I know it means you can't get either. You can have the car reinspected if you have rebuilt it and I think then get a different title. The new title may say 'rebuilt' it depends on the state.

Don't bother.

Insurance should skyrocket, or they won't even bother giving you a quote.
Why would they want to pay out on a claim on a car which has almost zero resale value?

Banks would be very wary of financing such a vehicle for the same reason - the car has zero resale value.


-Ted

It could be really fun offroad, drive that thing through the mud, go airborn, drive the shit out of it. Or if your into mailbox smashin...

Unless there are laws in your area, rebuilt title car cost no less and no more when it comes to insurance. Like I said it may be different for you locally, but here in Ohio, I know people that deal w/these cars day in and day out and there are no problems getting insurance for them and it does not cost a premium. Hell my agent didn't even ask me about the title on my car, I was the one that told him it was rebuilt and he said it made no difference.

Hope that helps.

Well for me I got stuck with a salvages title, I found out two months after buying the car when I got the title. In Cali all you can get insurance wise is Liability no full coverage but it may be different for you. If you can find another car, unless you dont care about the resale value.

in florida, banks will not finance a car with a salvage title.

you can get insurance all day long but the salvage value for your car will be substantially less then the blue book value for the car.........which is pretty low!

where in florida are you located and where are you buying the car..........if its in miami, be careful

You can get full coverage on a salvaged car, I know someone who got paid very well infact after his car was hit in the street. (Well after it was repaired).