Need Opinions on Opportunity for a 71' Couple of pics added

[jtoney51]

A recent opportunity has presented itself to purchase what I believe to be a mostly original 71' Wagon. The Bronco is uncut, has the original 302 Motor with 63,000 miles. This truck has been garage kept for most of its time, and is virtually rust free ( not something I'm used to).

So the kicker is that about 10 years ago someone backed into the owner, while he was parked at the grocery store. They got it pretty good, driver side door and rocker panel need replacement, zero damage to the frame. The insurance company salvaged the truck and the owner bought it back. So I would be buying it with a salvaged titled, what are your thoughts on the title situation?

I guess the plan would be to purchase the bronco, fix it up and drive it for a bit and potential sell or keep it. I have two other 68' that I have been working on for the last two years that are also nearing completion.

Looking for thoughts, comments and opinions...

Pics to come

Thanks for the input..

 

[hyghlndr]

Pics would be nice. Given the repair needed it wouldn't be a "survivor" and worth a premium to the right buyer but it does sound like an excellent place to start a restoration. If you only plan to sell, might want to offer it up for sale before doing anything.

 

[Whoaa]

Salvage/rebuilt title status means a LOT less in the classic car world than it does in the modern daily-driver world of cars.

The overwhelming majority of classic car people are educated. They know and understand that insurance companies can brand a title, but the classic can be repaired and rebuilt to as-good-as or better-than-new condition.

Having the branded title certainly doesn't help the re-sale, but it doesn't significantly hurt it enough to be a deal breaker in most transactions.

What are you're intentions?

1) Get it road worthy and drive it as-is?
2) Do you plan to fix it up and flip it?
3) Fix it up and keep it?

 

[jtoney51]

Intentions..Unsure at the moment, more than likely fix it and drive it and enjoy it..

 

[sprdv1]

Intentions..Unsure at the moment, more than likely fix it and drive it and enjoy it..

All depends on the area. Pics would definitely help. Title of course is all dependent on where you live as well. state rules

good luck man

 

[jtoney51]

I live in Western North Carolina.

 

[broncosbybart]

Jim, as long as it can be straightened out and the price is right, I'd say go for it!

Not sure if you can drag your body guy along but it would probably be a good idea.

Salvage titles aren't too big a hassle as far as the DMV goes.

 

[Whoaa]

Lets cut right to the chase for some truly informed opinions..

Post LOTS of pic's and the asking price.

I have a strong opinion about buying/selling cars, and a strong opinion about small-minded people that are jealous or whatever because someone does.

There is nothing wrong with flipping cars, and there is nothing wrong w/ making money; its not illegal or immoral in anyway. In fact we all need to put beans on the table to survive. And there nothing wrong about changing your mind later as circumstances change.

Finding some old classic, buying and fixing it up can be very rewarding. And you should dam well get paid for your effort when you sell it. From a business perspective, you took all of the risk so you should make some money at sale time in the form of profit.

 

[roundhouse]

In some states it's a lot of work to get the salvage title changed back into a normal title where you can register it again


In GA the dealers and shops bribed enough legislators to pass a law where only a shop can get the state to inspect the repair so you can get a normal title

But titles aren't required in GA on 25 yrs old vehicles

But I don't think SC has salvage titles at all

 

[sykanr0ng]

North Carolina does have salvage titles, but to declare it salvage the cost to repair the damage must be more than 75% of the vehicle's fair market value.

I would be skeptical that the damage you are being told about is all there is.

 

[DirtDonk]

Yeah, but 10 years ago that Bronco was worth probably 2500 bucks, and a body shop would have easily quoted 2500 to 5000 to fix it (depending on whether they even wanted the job or not). That would easily equal a totaled vehicle, hence a salvage title.

Around here at least, minor damage totals even new cars all the time.
It's still not bad to inspect closely, and I'm not saying you're wrong to suspect. Just that it takes a lot less to total an old vehicle then you would believe sometimes.

Paul

 

[roundhouse]

Need Opinions on Opportunity for a 71'

You can't register a car with a salvage title? That seems odd, why would they give you a title for a pile of scrap metal that you couldn't drive?
If the price is right and you can fix it, go for it! Document all of the work done to it with pictures and receipts in case you decide to sell down the road.

Every state is different but GA anytime an ins co pays off a car as totaled and takes the car. The state changes the title from normal to salvage

GA has several different title types
Normal. Salvage. And rebuilt

If the car gets payed off by the ins co and sold at auction or bought back by the owner the title automatically gets changed from normal to salvage regardless of the type of damage.

If you wish to repair the car and get a normal or rebuilt title issued so you can get a license plate back on it the state inspects the repair and if it passes they issue a normal title or a rebuilt title depending on how extensive the damage and repair was
The state has the vehicle divided into 6 or maybe 8 sections
If more than 2 sections are repaired or replaced you get a title that has REBUILT in big letters at the top

If it's less than 2 sections they issue a normal title that does not reflect any repairs
Car fax will tell you. But the state will not tell you

GA does not require titles at all on vehicles older than 25 years
And on newer vehicles if you don't have a title. You can apply for a "bonded" title. Where you buy a bond from a company that promises to pay for the car if it turns out to be stolen years later. Same as bonding out of jail and the company promising to pay if you don't show up in court

Every state is different
From what I understand SC has no provision to change title types on totaled vehicles No inspection. No nothing

GA started the inspections to help prevent people using stolen parts to repair cars
You have to provide photos showing the damage before the repair and provide receipts showing the VIN of the vehicles you bought the parts used to repair it from and you can't paint it before the inspection , the inspector has to be able to see the welding etc


Being right next door to NC which requires a title for every car no matter how old
You can sometimes make money buying an old car advertised as "no title, parts car only". And bring it to GA where the DMV will register it as long as it's not listed in the national registry as stolen

GA won't issue a title. But will issue a "registration " allowing you to put a tag on it and drive it .

 

[roundhouse]

Sounds complicated, but seems to serve a purpose for you down there.

Makes it harder to slap a wrecked car back together and sell it to an unsuspecting customer

Makes it harder to use parts from a stolen car to slap the wrecked one back together

 

[Whoaa]

Makes it harder to slap a wrecked car back together and sell it to an unsuspecting customer

Makes it harder to use parts from a stolen car to slap the wrecked one back together

^....excellent points!

I buy/sell a LOT of daily driver cars. However I will not deal in daily driver cars w/ a branded title. Period. It is my experience that the folks dealing in this junk are always hiding behind some type of scam or illegal activity.

As an extension of my previous comments, the title status of "rebuilt/junk/salvage" means much less when dealing in hot rods, classic's, and other collectable cars. Most people in this demographic are educated car people and place value & purchase price on how the car appears now, not what the title says.
I can't tell you how many early big block SS 4-speed Camaro's there are in the world, but I can tell that many of them started life as a 6 cylinder automatic.
In the last few years early Bronco's have reached "collector" status, and there are several large rebuild shops around the country that use little more than the title when they rebuild them.

 

[jtoney51]

Okay, so it's been about a week or two since I posted about the potential of another Bronco, I am headed this weekend to take a look at it in person. I know it's hard to tell from a pic or two but this is what I have, let me know what yall think. I will have an post more pics saturday night.
I can see, Door , Rocker Panel, Front Fender and door post need replacing. He claims the front floors not damaged, and also claims zero damage to frame. This is all subject to inspection.
Owner is wanting $7500.00

Always appreciate the input

Thank you

Jim