[fred jernejec]

I am interested in a GTO that has a rebuilt salvage title. How bad does this affect the value of a car? It was stolen in the seventies and was then recovered without interior. drivetrain numbers match . A very nice car but I am concerned about the title! Thoughts? thank you fred

[Chief of the 60's]

Originally Posted by fred jernejec

I am interested in a GTO that has a rebuilt salvage title. How bad does this affect the value of a car? It was stolen in the seventies and was then recovered without interior. drivetrain numbers match . A very nice car but I am concerned about the title! Thoughts? thank you fred

And who told you this? By the way, stories like, it was only keyed, they only broke all the glass, they only stole the interior, along with a couple of others are common B.S. stories. Unless you were there when it happen, Run Forest, Run!

[mgarblik]

Fred, if you are still in Ohio, I think salvage titles and rebuilt titles are not exactly the same. You might want to research that some. IMO, there is a large segment of the hobby who would not consider buying a vehicle with either type of title, period, no matter what. I count myself among them. Unless it was a one of a kind car, why take a chance on a salvage vehicle? The definition is so vague, rebuilt can mean almost anything. Most people think of a car with a rebuilt title as one that has been cobbled and sectioned together from two or more donor cars. Most people equate a salvage title with a car that has had an accident severe enough to total it, or a flood car or a theft vehicle. IMO, one with a salvage/rebuilt title that was put back together perfectly, would still be worth 25% less than a clean title car. JMO

[rustedgoat]

As an investment its worth what ever the parts are. Car wouldn't be considered "legit". No idea how an insurance company would look at this.

[1965gp]

How nice is it? Will it effect the value- absolutely. Would I buy it? If it was a quality build and there wasn’t evidence anything severe AND the price reflected the salvage title I would definitely think about it

[poncho-mike]

That's a tough call. I have a friend who has a 69 Ram IV GTO that was flooded by Hurricane Floyd in the late 90s. As soon as the water receded, we yanked the engine and took it to a machine shop. The interior of the car was gutted and we flushed the body with fresh water, then put it under heat lamps at a car dealership to get it dried out. The car was insured, and I encouraged him to part it out rather than doing a frame on restoration. He chose to rebuild it, and got it most of the way finished. It still lacks some interior work. He's in his early 70s and has thought about selling it, he even went as far as advertising it in Hemmings a few years go for around $50K. He's not the most motivated seller, so it never sold. I got the impression the flood title was an issue with most people.

I have no idea how much a salvage or flood title affects the value, but I'm sure it eliminates a bunch of potential buyers.

[1965gp]

When we had hurricane Harvey in Houston the guy that paints my cars said his other customers cars were totaled if the water touched them. He had a 69 Judge where the water got up to the bottom of the Rallye wheel- totaled it.

Pretty sure the insurance companies have an insurance policy on state of emergency disasters so it didn’t matter how much they totaled, and then they can sell the car as a parts car that gets shipped overseas.

Still- you don’t know and neither will the next buyer so the price has to reflect it.

[Simple Man]

Just curious. If I owned a car, free and clear, and it went through a flood, and I did the rebuild on it, why would the title change?

[Andretti]

Originally Posted by poncho-mike

...we yanked the engine and took it to a machine shop...

Back when I was on the bench we were all made aware of the health hazards (tetanus) of working on any flood damage vehicle. We all thought it was a good thing writing them off. Now, I wouldn't be as afraid and just take extra precautions. If in the future your friend becomes a little more motivated and lowers his price, I'm sure it'll sell quickly.
Fred, it's a personal choice and need to balance the pros and cons that come with it.

[Cardo]

Most of our cars for the amount of work that's been done on them probably ought to have a rebuilt title anyway. Once you've been into replacing floor pans, quarters, etc whats the difference? It wouldn't bother me if pictures documenting whats been done are available, and the workmanship is there to support it.

[Jerry H.]

I don't think it hurts the value on our cars as much as late model cars unless it is a high dollar car. If I were in the market and the price was right it wouldn't bother me. But I would definitely inspect it very carefully.

[Wick]

Never believe what you are told about salvage titles. During Harvey, my Z06 was completely submerged underwater with 6 feet of water in my house. I was contacted by the salvage buyer several months after insurance towed it off asking about the key fob. The buyer was very far north is what I'll say. He asked me about the car and the damage to it to which I told him up from it was completely under water. The buyer changed all fluids, replaced the seat tracks and it fired up. I saw it in an ad later with reference to a minor flood and the floors only were wet. Buyer beware.

[66sprint6]

It simply depends on the price.

[72projectbird]

Salvage titles on old cars dont bother me a bit. These cars are so old, you never know what they truly have gone through over the years, so as long as they're clean I'm happy.

I dont know about value impacts. New cars it really messes them up, but from what I've seen older cars dont matter much unless it's a undesirable car, or a plentiful one.

It's also pretty easy to obtain a clean title for a once salvaged car. Gotta jump through some hoops.

[David Jones]

If the deal was right, hop on board. Why not? Any 50+ year old car could have quite an unknown history behind it.

[400 4spd.]

When I was in the collision industry and had to deal with flood vehicles, water on the carpet was the determining factor. Reason being that wiring along the floor pan could be compromised and there could be seat belt and/or air bag wiring intrusion. It's all about liability, not customer satisfaction.

[stevep]

Take 50% off of the price.

[400 4spd.]

Originally Posted by stevep

Take 50% off of the price.

I agree completely. It's a real value killer, regardless of how nice the car is. Sellers rarely see it that way though.

[CraigGT37]

Fred,
I am in Ohio also. I had a cavalier that my son hit a deer with, the ins co totaled it but it only needed a bumper cover and hood. I bought it back for less than 10%of total cost. When i got the title back from them, it was a "salvage " title. To get it back on the road, i had to replace all damaged parts and make it road worthy then take it and all reciepts to state highway patrol to have it inspected. Once done, they gave me paperwork to take to BMV. The title I recieved back from them was "rebuilt". my ins company would only issue liability coverage on it at that point.
As far as value, i would say that it would de-value the car by 25-50% depending on what can be proven and how it was repaired.

[400 4spd.]

That's a good point regarding insurance values on rebuilt or reconstruction titles. Quite often only liability is offered.