So I've been scouting Mavericks as a project car for me and my son. I've seen one on Craigslist that says "salvage title." Sounds like once repaired you can get the car retitled as road ready, but the "salvaged" can never be removed from the history. Is this true, and if so, what does having a salvage history do to the value of the car?
On a newer car, it dramatically reduces the value of the car. I have owned several. They are great because one can buy them pretty cheap. On an older car, it just depends. If it has a salvage title because it was in a wreck, it could effect the value. If it has a salvage title due to being parted out at some point in it's life, it won't hurt it as bad. I think the bottom line, it will hurt the value some, as it will always have a salvage title. If I was looking to buy a project car, and it was 100% rust free and straight, I would still buy it with a salvage title and it wouldn't bother me in the least. If it has rust and even minor damage, I would look elsewhere.
Most people's concern with a salvage title is resale value. I don't have any experience with insurability factoring in there but overall I don't think either issue will be a concern with a Maverick. There's lots of them out there rolling around and turning heads that have that designation on the title. (As well as about every other kind of 60-70's muscle car). As a buyer, I'd certainly use it as a bargaining chip to get the best deal possible though
ive heard of people having problems geting insuarance for a vehical with a salvage title. talk to you insurance agent before buying a salvage title car.
I think if you transfer to different states,,, you can lose the salavage title. Gotta be creative and it`s still leagal. Check your states law and have some buddies in other states!
I have heard of losing that pesky little "S" on the title when titling it in another state but when you are talking about an older car only a purist is going to cringe and run from a salvage title. Most of us that know what it takes to build a car, it doesn't really make that big of a dent in the value because we all know that the car has been pretty much a ground up rebuild. You should check first as the other guys here have mentioned though. Good luck
For those of you keeping score at home... I just called the license bureau here in IL where I live and they say the only way to get the salvage title changed is to have the repair work done by a licensed/certified restorer. Then THEY (the restorer) would send in the salvage title along with their certification and a standard title would come back. She did not have a list, but apparently there are people who get the certification and can do the work and vouch for the safety of the car. She also said I could not register/swap the salvage title on my own for an IL salvage title while I wait to find such a repair place or better yet, somebody who would agree to let ME do the work, then check off on it and file for me. So far it doesn't sound too good as a project car. Rules in different states may vary. For what it's worth.
The rules on salvage titles are different from state to state ... they are the kiss of death here in Florida. I think a lot of exporters who do business with the Caribbean and South America probably had a lot to do with that. Some really nice cars that have damage exceeding book value can no longer be titled here, but are perfectly fine for parts, or export ...
Here is the vehicle he is looking at: http://cincinnati.craigslist.org/cto/1790616850.html I advised to pass on this car. I think it would have a bent frame.
i agree on passing up this car. way to much damage to deal with a slvage title issue. I also agree that the frame is most likely beyond repair.
I wouldn't bother with that car, pretty hard hit. Glad I live in a state that doesn't require titles for vehicles this old. My '72 that I've been driving daily for the past 4 1/2 years has a junk title, that was left open by a previous owner until the notary seal went out of date. So the car would be pretty well good for nothing in some other states, the guy I bought it from in NC was parting it out because of it.
If its worth going through the effort you could contact this place ...http://www.broadwaytitle.com/ Or... Get a VIN plate and clean title from another car, this is getting harder to do as most junk yards want the title of the car being scrapped, and most guys will not give up a title and VIN tag on a car. A guy in VA just contacted me today about this very issue. Im glad I could help him out...
Well, if it was my deal I would purchase the blue car in the add for parts only and make an offer reflecting it. Personally if the interior is in good shape, there is enough parts on it to warrant $5-600.00 to me. Above that, I would have to give serious thought to it as the car is guaranteed to have major frame issues and will never be right again. After that I would hit up the classifieds here (there's a good candidate '70 donor body with a title for $400.00 on there right now), or contact the people on here that buy 'em to part the cars out for a good donor body. Combine the best parts off of both of the cars and you'll have a decent looking maverick when you're done. Hope this helps, -Scott H.
