Salvage title Bronco?

[rockriders]

Found a pretty nice set up but it has a salvage title. I never buy salvage title vehicles because of resale value but I feel this is a still a very good deal at 15k. In short it has a new 302 long Block, C4 tranny, 4 barrel car, PS, tilt, hard top, lift, 33" tires & wheels and AC. PS, tilt and over very clean interior & exteror. It looks great. Really just worried about resale value down the road. What do you think?

 

[Ratch]

If you buy something because of resale value, you might want to pass. If you are buying it to drive and enjoy then it really shouldn't matter. Just my opinion.

 

[Whoaa]

^........I agree, exactly!

I buy and re-sell a lot of daily driver cars. I refuse to deal in ANY cars w/ a rebuilt/salvage title....mainly because of the scum-bags that deal in these types of cars, and secondly the baggage-story excuses that comes with the car & damaged title.

Hot rods and collector cars are different. Lots and LOTS of early Camaro's in the world that started life as a 6 cylinder, but now are a beautiful SS big block 4 speed car w/ a branded title.
People that deal in collector cars, such as early Bronco's, generally speaking could care less about what the title says and base their opinion and value based on the merits of how it appears today. It does hurt the resale a little..but very little, and mainly its *not* the asking price thats hurt, but the sell-ability because it does slightly narrow your buyers market.

EDIT: just made a quick re-read of your posting. It seems like you're looking at $15k early Bronco. For $15k it better be dam nice, probably not much margin in re-sell w/ a branded title...unless its super nice!

 

[NicksTrix]

do you know why its got a salvage title. was it totalled out after a big wreck years back?
I'd want to know the solid facts and really know what you are buying. might want to talk with your insurance co to see how they feel about the title as well. don't want to get stuck after the fact.

 

[rockriders]

Here in Cali you don't get much of a rig for 15k. It seems very clean but of course I have to inspect it first. I typically keep my toys for around 5 years and either upgrade or move-on so resell value is important. The owner has no idea why it has a salvage title.

Here are some pix:

 

[markw]

I went through the same thing. I bought a '68 that's in pretty decent shape but will have a salvage title because the original owner only wanted to use it off road as a hunting rig and declared it destroyed rather than pay non ops fees. Never was wrecked just beat on. But, I have to ask how much I want to put into it....

 

[smokinjoe]

Nice looking truck. My EB has a salvaged title, didn't faze me but I also didn't buy it w/ resale intentions. Does the body match the frame? Could that be a reason for a salvaged title?

I actually in an odd way felt more at ease buying one w/ a salvaged title b/c from what I've read the inspection process the smokey's do to bring a salvaged truck back is pretty extensive at least in Texas

 

[DirtDonk]

The resale value is pretty mercurial with EB's right now anyway. Hard to tell what the perceived loss of value would be at this time. The stated KBB value for my last car ('04 model) was only $400 less for a slavage than for a perfectly pristine title. Once I saw the car, I had zero qualms about buying it.

Owner had no idea why either, but had been assured it was never in an accident (bought it at auction). I wondered how anyone would know, and also why it would be salvaged by an insurance company if not wrecked.
Took me a few months to figure it out, because literally ever body panel was original as far as I could tell. No Bondo anywhere, and no tweaked struts or anything.
Finally discovered a nice big 10" long slice in the floor pan where someone had run over something hard (like a piece of metal most likely). I'm guessing the insurance company would not accept a patch panel fix and replacing the whole floor (if even possible) was too expensive. Hence a total and salvage. But only a guess.
Love the car though, and got way more than my money's worth.

Paul

 

[sykanr0ng]

The resale value is pretty mercurial with EB's right now anyway. Hard to tell what the perceived loss of value would be at this time. The stated KBB value for my last car ('04 model) was only $400 less for a slavage than for a perfectly pristine title. Once I saw the car, I had zero qualms about buying it.

Owner had no idea why either, but had been assured it was never in an accident (bought it at auction). I wondered how anyone would know, and also why it would be salvaged by an insurance company if not wrecked.
Took me a few months to figure it out, because literally ever body panel was original as far as I could tell. No Bondo anywhere, and no tweaked struts or anything.
Finally discovered a nice big 10" long slice in the floor pan where someone had run over something hard (like a piece of metal most likely). I'm guessing the insurance company would not accept a patch panel fix and replacing the whole floor (if even possible) was too expensive. Hence a total and salvage. But only a guess.
Love the car though, and got way more than my money's worth.

Paul

On modern cars if the airbags deploy the insurance company usually totals the car.
It really does not take that much of an impact to trigger airbags.

 

[67RT]

Check your insurance company limitations on insuring a salvage title vehicle. Many companies will not insure a salvage for whatever reason.

 

[Broncobowsher]

Surprised it took this long to mention insurance. Often the cost of insurance on a salvage title is enough to adjust the street value of a vehicle.

With a salvage title I would also be looking for the VIN on the frame to see if it matches the body and paperwork. You know it has been rebuilt, but to what extent.

 

[BRONCOchild]

Coincidentally, I was thinking about a '69 I bought without title to later find out it was salvage. I regret selling it. It was a blank canvas, but it was a driving project. Plus, it was converted into a half cab and I was into that!

However, I started worrying about insurance coverage and potential resale value. I sold it, lost a lot of money in the resale, but if I could have done things differently, I would have kept it.

 

[Whoaa]

Thats a nice looking Bronco! It's hard for me to imagine you could go wrong paying $15k for it.

As mentioned above, I don't deal in daily-driver cars w/ a junk title and I gave some reasons. Also because the banks are leery about loaning money on them. I don't loan money on daily driver cars with a junk title either...but I will loan money on about anything else.

Classic's and hot rods are different, and because 98% of classic car people KNOW cars and know what their looking at -they don't need some "book" to give them a value, plus most of the time they're using their own money.
I'll assume this is a non-issue for you, and you're paying for this toy w/ your own money.

This Bronco is another perfect example; base the value on the merits of the car as it appears now...not what the title says.

 

[rockriders]

I checked with my insurance agent, the title does not effect the rates. And since I'm not getting a loan, I don't have to worry about that either. At this point I think a thorough inspection and a test drive should tell me a lot about this rig.

BTW incase you guys didn't know you can insure a Bronco as a classic. My last car was a Cobra AC and it was something like $160 for 6 months at a value of $30k. So I'm expecting similar rate.

Update: got a insurance quote of $175 for 6 months on this particular rig.

 

[Piglet]

i've owned about 6 cars with salvage titles. in maryland title status has absolutely nothing to do with insurance rates. one car got a salvage mark because it was abandoned at a tow lot and the cheapest way for them to get a title to re-sell it was to apply for salvage title. one of my cars right now has a salvage title from the insurance company because it was a theft recovery, i have all the carfax/ documents/ auction papers to confirm this. and as far as re-sale goes as long as you disclose everything possible at time of sale and price accordingly it should never be a problem.

just my $.02

 

[gnpenning]

There have been more than a few threads on here about insurance. Thanks to them I checked into my Classic insurance on a car I have. I knew it had mileage restrictions. What I didn't know was that The coverage basically was for going back and forth to car shows and repair shops. If I stop for an ice cream or gallon of milk it wasn't covered. Very restricted use.

Some of the other things that have come out of these threads.

Is the policy a stated value or agreed value?

Will it pay if you take it off road?

Hope you have fun and welcome.

 

[67RT]

Hi, glad you can get the insurance. My point wasn't that it would affect rates. Some companies just will not offer comprehensive insurance on salvage vehicles, just a strange policy..

 

[sykanr0ng]

Hi, glad you can get the insurance. My point wasn't that it would affect rates. Some companies just will not offer comprehensive insurance on salvage vehicles, just a strange policy..

Possibly they think that some shaky repairs would make an unsafe vehicle which they do not want to be the ones paying for if there is an accident.

 

[rockriders]

Well I checked it out earlier today, it looked and (more importantly) drove really well. She just needs disk brakes and few little add's to make it my own. I put a deposit down so that I can pick it up Sunday. It's my first Bronco (Jeep guy) so I'll need some help with do's and don'ts. Thanks!

 

[roundhouse]

Yall are very confusing
In my state a salvage title means it's wrecked
A rebuilt title means it's been wrecked and fixed and inspected

A vehicle with a salvage title history means it got wrecked but not took bad. The ins co paid off and it's been repaired and inspected and issued a good title that makes no mention of the wreck or ins payoff Carfax will show it. But the title won't