Salvage title

[BigSimp]

I have noticed recently that insurance companies are rushing to total bikes for little more than cosmetic damage. It's not hard racking up a cosmetic repair bill in the 5k range and if you own am 06 or older that's a total. No frame, fork or engine damage, just plastics, stator cover, upper stay and bang you now have a totaled bike. So lets say you invest your own money to properly fix the bike, and you come on hard times and try to sell. But as soon as you mention salvage title folks want to cut your price in half. I have seen it here many times, and I don't get it. Seriously, a person would make more money parting the bike out that trying to sell it whole. I know there are scam artist all the time trying to get over, but if a bike was listed as salvage and you were local and could check it out, why all the low balling. My bike is salvage, get hit back in Oct. The bike was stripped to the frame, frame was verified as straight, and I have completely rebuilt the bike. I would feel very offended if I was going to sell and someone tried to low ball me because of the salvage title. I haven't had any problems with my insurance co, it has full coverage. Other than the CHP inspection I had to do, I haven't had to do anything other than register my bike.
So what's up folks why do salvage title rebuilds get such a bad rep?

 

[CrashBomb]

Some states won't re-title a salvaged vehicle for use on public roads.

People see "salvage" and assume "wrecked." No one wants to inherit someone else's headaches.

It might look alright on the outside but a lot of times after a collision things never line up again properly and there can be a lot of hidden damage that isn't fixed by a repaint.

 

[Dweezel]

It wasn't always that bad, My dad and another guy used to run a biz doing nothing but fixing and reselling totaled cars. they'd get two totals, cut and splice what was needed, under carriage etc, unibodys, whatever it took within reason and still make money. they had a good biz and sold lots of cars cheap. Then some news show like 60min did this special on salvage cars in the mid 80's, and literally within a month they were out of biz. Yes there are hacks out there, as there are in every biz, and yes you have to inspect what you buy, but I've bought, and built several S titled vehicles with NO problems, it's all in the quality of the work. Hell I went 11.90's @ 117 in the quarter, and burried a 155mph speedo in one! Car felt like you were going 65 the whole time. It's all in the quality of the work.

Now bikes I'd say yes they are a little harder to spot damage in, there are no specs on frames, and if there's a slight twist you may never notice it, but it could throw the whole bike out of whack. But cars have dedicated measurement points, and there are specs on what is acceptable for repair work and what constitutes a "square" frame/body (now you know what most of those little useless holes are for in the bottom of your car

) but if it's just plastics etc I don't see why you should shy away from a bike.

 

[BigSimp]

I understand your points but I am not talking about a repaint, I am speaking of a rebuild. And from what I have seen all states will retitle a salvage vehicle as long as the unit passes the state specific inpesctions, they just wont give it a clean title. It will have some sort of rebuilt salvage title to let you know it was at one time salvaged.

 

[S-R Racing]

MO is a good state to work with, after having rebuilt as you stated,11 bikes total now. 4 have been busas,with good results on the resale,maybe taking a $500 hit on the selling price. In MO you can take a salvage title & after proper inspection by the DMV (state police) they will issue a prior-salvage title. All have been great bikes but 75% of people will use that as leverage for a better price. If it a good bike, sometimes it may take longer to sell but the right buyer will come along

 

[S-R Racing]

----------------------------------------------------------------------------------------02 frame & forks, '07 body, '06 everything else

 

[S-R Racing]

All of these were rebuilders

 

[Vic_E55_2001]

IF bike was total loss it will get salvage title most of the time. If it was reported stolen and insurance paid off it will be Salvaged even if bastards never started it and carried it away nicely.

I`m a buyer, I don`t give a crap WHY if was salvaged if it cost the same as not salvaged. so you slash the price or I will buy somewhere else.

 

[Projekt]

There are too many unscrupulous sellers out there that will not fully disclose all of the flaws that were corrected. As a buyer you can never know the truth behind a salvage bike. That is, unless you are extremely mechanically savvy, you can't trust the statements made by a seller/rebuilder.

 

[Professor]

If you have two identical bikes in front of you. Bike A has been "￾fixed"￾ and has a salvage title. Bike B is just as clean but has never been hurt. Both can be bought for 6k. Which are you going home with?

Ok Bike A has been reduced another $250 is that enough for you to take a chance? Hmmmm not me.

I have seen many salvaged title bikes that had missing fasteners, small damaged parts, Scratch here/there, etc. Rarely do they get put back together perfectly like one that has not been apart.

You are going to have to make the price right to make me want to buy it.

 

[ks-waterbug]

Works both ways... Have a cousin in the business for over 20 years!
In Ks they list the reason for salvage title, Flood, Theft, total loss, etc..

Best way to get more money on a salvage title vehicle in general is to document the rebuild process with photo's. Its buyer beware no matter who you buy from or what the title says! Used is used folks...

Case one (actually took place)
Vehicle one: 90's camaro hard loaded, low miles clean title
Vehicle two: Dirty title identical car same features...

Car one sold for almost double what car two fetched! Now the kicker, car one was involved in a one car DUI accident. Got wrapped around a telephone pole! Didn't get totaled but did get rebuilt (as a one owner ride).
Car two was also a one owner vehicle that had the misfortune of being parked in a garage that fell in on it. Cosmetically challenged... But an easy fix.

So, things aren't always what they appear... You can't tell a thing by just reading the title! Clean doesn't always mean clean and dirty doesn't always mean dirty

 

[thrasherfox]

LCD (Lowest Common Demoninator)

Often salvage is a bad thing (difficult to detect water damage to wiring, difficult to detect a slightly bent frame, etc etc)

A person purchasing a "Salvaged" anything (motorcycle, car, whatever) is rolling the dice in my opinion.

 

[GMbusa]

State Farm will only give me liability coverage for a salvaged bike. Also, most people need to finance stuff and banks don't want to have anything to do with a salvaged vehicle.

 

[hondpwr]

I bought 2 cars with salvage titles. I made real good money off both of them.

I think people get confused. As far as I understand or I was told you can't get a loan or insurance with a salvage title. But after you get it repaired and inspected by state police (in Va at least). You can get a clear title or one with salvage history. Then you can get a loan and full coverage insurance.

I'm not sure whey you would want to try to fix a bike. You can more money parting them out on ebay. I'm parting a honda now and will get over retail in parts.

 

[BigSimp]

I bought 2 cars with salvage titles. I made real good money off both of them.

I think people get confused. As far as I understand or I was told you can't get a loan or insurance with a salvage title. But after you get it repaired and inspected by state police (in Va at least). You can get a clear title or one with salvage history. Then you can get a loan and full coverage insurance.

I'm not sure whey you would want to try to fix a bike. You can more money parting them out on ebay. I'm parting a honda now and will get over retail in parts.

True after the bike has been repaired you can get full coverage and insure the bike with full coverage.
And the reason to repair a bike is becuase its really simple, insurance companies are really being cheap, and I can understand that, but if a bike doesnt have frame, swingarm, forks, subframe damage then its really cosmetic. Also I am sure anyone who lives near a motorcycle race track is also close to frame straightening shop as well. I just dont think you should write off a salvage rebuild off, just becuase the title says it was salvage at one point. I am not saying trust all rebuilds, of course you should do your homework, but I have seen many rebiulds that were as good as other used bike of the same year.
I can see an extra $500 off because its a rebuild, but not much more than that. There is no way you should get it for 50% cheaper.

 

[99'busa]

non salvage is always better than salvage so you have to compensate.

 

[hondpwr]

How do you even tell if it has a salvage history? I don't think you can do a carfax on a bike. Not sure if DMV would give any info unless its titled in your name.

 

[In10SS]

You're going to take a hit if you can't convince a buyer it's good as new.  If you can do that, they will still expect a good deal because they're taking a chance.  If there has been an insurance claim made for damage to the vehicle and it results in a total loss, the insurance company is required to inform the DMV.  In most states they distinquish between salvage, total loss, total loss rebuilt, damaged rebuilt and so on.  Someone in an earlier post mentioned VA law.  In VA, if damage exceeded 90% of value on a newer vehicle, it can't be rebuilt and titled(75% to 90% can be rebuilt).  The total loss threshold in most states is 75% of actual cash value. Once rebuilt, almost every insurance company will provide comprehensive and collision coverage, after vehicle is inspected.  Funny, but if you Total a rebuilt vehicle, you're likely to get very close to the ACV of a non totaled vehicle.  The insurance company is about the only buyer that doesn't automatically assume it's worth less because it was a prior total.  The adjuster settling the claim has to offer full value if no prior damage is found when doing the valuation.

 

[Mr Bogus]

anyone building up salvage or rebuilt vehicles would be wise to incorporate or have some kind of umbrella insurance policy..

If you sell that vehicle and it fails (either your fault or not) you are likely to end up in court.

I worked with "wholesalers" that did salvage vehicles and without fail, they ended in court eventually over non-disclosure etc even though they told the customer "everything" it came back to haunt them..

A good sales contract might be a life saver..

 

[captain]

I have the 07 busa that I am rebuilding, when I'm done you won't be able to tell that it was in a crash. I can see where folks wouldnt want to buy a bike that the title was salvaged unless you new the person and the bike before and after.