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It all depends on why it was totaled/reconstructed in the first place. Since cars are totaled when repair costs exceed 50-75% of the car's value (depending on what state you're in), an older car can be totaled for simply cosmetic reasons since they're worth less and easily totaled - even $2k in body work will total an otherwise mechanically sound older car like a '95 Volvo or Honda . Now a newer car that's been totaled is a problem since it could have sustained over $15k in damages and that's major. It all boils down to why it was totaled, are there before and after pictures and are the repairs top notch.
If it's been totaled due to flood damage RUN! These are problematic cars that are not easily restored and may have a lifetime of quirky electrical problems.
Buying a reconstructed car is no different than buying any used car. Do a Carfax, get a pre-purchase inspection, make sure the frame's straight and if it all checks out and you like the car buy it BUT don't pay more than 60% of the value of a comparable car with a clean title since that's all it's worth and plan on keeping it for a while to get your money's worth out of it since resale is harder. And contrary to all the bull you hear, you can get insurance on it from most companies but since it's worth less they will pay out less if it's totaled again or stolen so don't pay too much for it! I own a reconstructed car presently and it's the best car I've ever owned and I only paid $1800 for it and spent another $1000 to bring it up to top notch mechanical standards (major tune up, new belts and hoses, rear brakes). A great deal and it looks and drives fine with no problems at all, so if it's a good car that checks out I can think of no disadvantages to buying such a car!
Keep in mind this food for thought: an new car gets rear-ended and incurs $5000 in body damage. It gets to keep its clean title. A 10 yr old car with the same damage would be deemed totaled even though the damage is identical. A clean title, therefore does not mean an undamaged car.
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Can a rebuilt title be cleared and will there be any problems retitling a rebuilt title car if I buy one in Indiana?
no, once it has a reconstructed title it will always be...
What kind of title should I ask for if I buy used farm machinery at auction?
The acutal purchasing title should come with the items when you buy them.
Should you buy a box c title car?
If you wish to.
Can you buy a salvage vehicle?
Yes, and in most states if you rebuild/restore the car to roadworthiness you can get a totaled/reconstructed title. Don't pay too much, they are worth much less than a comparable clean car and the value is often subjective.
If you are going to buy a car with a salvaged title how much less should it book for than the same car with a clean title?
1500
What is a reconstructed title mean?
A reconstructed titled car is a car that was severely Damaged/Totaled and then a repair person or shop builds the car back up well enough to pass inspection. One should be very carefull if buying a vehicle like this because seller might not take it back or give refund. Vehicle might look fine at first but fit and driving ability may be weak or altered and when you get ready to sell the car yourself, it may be difficult or you may have to take a huge loss. NEW ANSWER A reconstructed title is a salvage car that has been repaired to be roadworthy. They are not always severely damaged, it just depends on the value of the car at the time of damage. It doesn't take much to total an older car, it takes a lot to total a new one. Personally, I would only buy a reconstructed vehicle that was at least 8 yrs old and I'd get it inspected by a pro prior to purchase. Sometimes a small fender bender will total an otherwise decent car. Keep this in mind though: a reconstructed car is worth about 60% of the value of a comparable clean titled car.
How do you buy salvage vehicle?
If you mean totaled cars that have yet to be repaired, go to an auction or tow yard. If you mean a salvage car that has been reconstructed to roadworthiness, try Craigslist. There's lotsa salvage vehicles being sold there under the guise of being a clean titled car! But sometimes there's honest seller who are selling totaled/reconstructed cars for what they're worth, which is roughly 60% of the price of a comparable clean titled car.
What documents do you get from a dealer when you buy a used car with cash?
You should get a bill of sale AND the title of ownership.
What do you need to get from the person that you buy the car from besides the car?
In addition to the car, you should get a signed, notarized title. The title demonstrates that ownership of the car was transferred to you.
How should i Buy used motorcycle from individual who still owes the bank?
Depends on how much they owe on the bike and if the price of the bike includes pay off to their bank and you get the title. If there is a lean holder on the bike and after you buy it you don't get a title then no I would not buy the bike.
What to you need to get from the person that you buy the car from?
When you purchase a car you should get the history of the car, as well as the title. If it is possible, you should try to get a warranty.
How should I be able to get a title check?
The only way to find out if your car is legitimate is to first check for the vin number. Then go to the DMV and ask if it has a title or not. One should never buy a car from a stranger with no title. It will make insuring it very difficult.
