Question for the experts and everyone else too. I just bought a 1971 Sport which is a little rough but straight and little rust. Pretty beat up everywhere a person could roll over a rock. Used as a hunting rig for 20 years. Owner didn't want to pay fees so he declared it junk. The only way I can title and register it now is with a salvage title. I can't even do that till it's roadworthy and I get the inspection done. How much will this affect the value? It will be a stock uncut 3 on the tree U15 Sport with front disc conversion as only mod. Your thoughts are most welcome. Thank you, Mark
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Salvage title
- Thread starter markw
- Start date
MPG_Bronco
Full Member
IMO, a salvage title is just a word on a paper, for these bronco's it really matters what state the bronco is in. any bronco purist won't care if it's 'salvage' if it can deliver the 'goods' (run, drive, dependable, robust)
you get the gist.
you get the gist.
On many cars the rule of thumb is $.50 on the dollar.
With a Bronco that has been repaired well (as it sounds like your plans are solid) I would not worry about it too much. Insurance might require a little creativity but even at that I would not be too concerned.
With a Bronco that has been repaired well (as it sounds like your plans are solid) I would not worry about it too much. Insurance might require a little creativity but even at that I would not be too concerned.
Broncobowsher
Total hack
- Joined
- Jun 4, 2002
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- 35,130
For a trail rig, doesn't really change value.
For a restored street ride it can hurt a lot. The nicer it is made, the more it hurts.
An $8k trail rig that will never have a straight panel, the value is in the parts in the end, might only hurt the value $500. But a $40k resto could hurt it upwards of $10k over a clean title and the same build. It can make it worth it to find a cleaner starting point.
For a restored street ride it can hurt a lot. The nicer it is made, the more it hurts.
An $8k trail rig that will never have a straight panel, the value is in the parts in the end, might only hurt the value $500. But a $40k resto could hurt it upwards of $10k over a clean title and the same build. It can make it worth it to find a cleaner starting point.
The good thing about this truck is that it's never been wrecked. Had I known the whole story I wouldn't have bought the darned thing but I did so this is what I have to work with. The cool thing is that it's very complete and will make a nice stock restoration which seems to be pretty popular right now.
Whoaa
Bronco Guru
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- Sep 26, 2014
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- 1,059
Only shallow, inexpereinced classic car people really care what the title says. The overwhelming majority of ALL classic car people place "value" on the machine for how appears in front of them, not what the title says.
I can't tell you how common this is in the Camaro world, but suffice to say there are LOTS of classic Camaro's w/ junk/salvage titles. And even more car's that left the factory as a automatic 6 cylinder, but now is a big block 4-speed with SS/RS emblems and will fetch $40k+ easily. Only the super purist types really care about "numbers matching" for muscle cars, and even a smaller percentage for classic Bronco's.
I buy and sell a LOT of modern used cars. In the world of modern daily driver cars it makes a HUGE difference. In fact I won't even deal in ANY modern car that has a salvage title, and choose NOT to deal with anyone that sells modern cars with salavge titles.....to shady for the reputation of my business. A few years ago the market was flooded with all of the salt-water impregnated cars from the hurricanes in Southern states w/ salvage titles. This brought the subject to light for many people that had no idea.
I can't tell you how common this is in the Camaro world, but suffice to say there are LOTS of classic Camaro's w/ junk/salvage titles. And even more car's that left the factory as a automatic 6 cylinder, but now is a big block 4-speed with SS/RS emblems and will fetch $40k+ easily. Only the super purist types really care about "numbers matching" for muscle cars, and even a smaller percentage for classic Bronco's.
I buy and sell a LOT of modern used cars. In the world of modern daily driver cars it makes a HUGE difference. In fact I won't even deal in ANY modern car that has a salvage title, and choose NOT to deal with anyone that sells modern cars with salavge titles.....to shady for the reputation of my business. A few years ago the market was flooded with all of the salt-water impregnated cars from the hurricanes in Southern states w/ salvage titles. This brought the subject to light for many people that had no idea.
gnpenning
Bronco Slave
If he or you have the old title. Can't you register it in another state first to get the title in your name then bring it back?
.. IMHO... I kind of feel that Classic Cars... & Early Bronco are 2 different items.. Now if your were lucky enough to really have a Sweet Bronco, then a org title might be wanted. But I'll say 85% of our Bronco are Less than perfect. So I just can't believe a Salvage title being a problem, unless it's of an Insurance Co. just not wanting to cover your 45 year old Ride. ...
.... People wanting to buy a Bronco will simply look over your project & a price will be negotiated.
.... People wanting to buy a Bronco will simply look over your project & a price will be negotiated.
67686977
Sr. Member
Won't hurt the value at all if you keep it. If you do much work on it, you most likely won't get all the money you put in it if you sell.
Bottom line, it will hurt the overall value. Someone will use that against you in a financial negotiation, it is the way of the world. How much is anyone's guess. I would make sure that you will have no issue registering it (sounds like you covered that already with the California DMV) and also understand how insurance will be impacted by a salvage title.
My sense is it will be an issue of some sort, whether insurance or overall value. There isn't any way to get an original title, it's long gone and the owner died. It is what it is now. I didn't ask the right questions and the seller wasn't exactly forth coming. Oh well. I have two options: Part it out to get it out of my shop, try to re sell as is, do a basic restoration and hope for the best. If it had a lot of nice trail rig parts on it I'd do it up that way but it's as stock as stock gets. The fixes are easy, no rust to speak of. I'll have to take the gamble. I have a really nice one I'm working on for my personal rig, this one was for my wife. She's not happy.
Can't you apply for a "bonded title" or "lost title"? I know the PO said they declared it junk but what does that mean? Is there paperwork to file with the state?
In AR, I just call up and say "remove XYZ" off my assessment and the car/truck is gone. Nothing to file with the state just don't renew the tags and you pay nothing.
Worth a shot....
Tim
In AR, I just call up and say "remove XYZ" off my assessment and the car/truck is gone. Nothing to file with the state just don't renew the tags and you pay nothing.
Worth a shot....
Tim
smokinjoe
Bronco Guru
^ I don't think a bonded title can replace a salavaged title. A bonded title (at least in Texas) is to get a title when the title itself has been lost AND the DMV still carries the vehicle on it's books (regardless if it's been registered). I believe TX carries them like 12 years since the last registration or something like that.
With that being said, my Mustang HAD a bonded title b/c I lost the original, hadn't trasnferred it yet, of course I found the original like 3 wks later, the bond has long since expired and it's a regular title now.
My second point, my EB is on rebuilt title.
Resale, it will affect you IMO for the uninformed, inexperienced buyer(like Whoaa said). At least in Tejas, if a vehicle is declared salvage and then reuilt (and a rebuilt title is issued) that means the vehicle has been THROUGHLY inspected by some not so nice people w/ the DMV. I believe it's quite the inspection to get a salvaged reversed to a rebuilt in Tejas. So for me, I know it sounds silly, it was almost a security blanket of sorts.
My buddy's truck had full coverage, (early 80s Chevy stepside 4x4), his kid got in a fenderbender, little comsmetic damage but the ins. comp. totaled it, he bought it back and fixed it (like for sub $1K) but it had a rebuilt title after that.
Bottome line IMO: If you're building this for you, who cares??? I don't plan on selling mine, so all I cared about was a solid base. If you're building this not thinking long-term possession then yes, maybe a quick flip may be in order.
Non-Monetary, negotiating, for sale question: What's the difference between a rebuilding a rig that has a rebuilt/salvaged title and some rusted-in-half tub we found lying in a field? Just a piece of paper!
With that being said, my Mustang HAD a bonded title b/c I lost the original, hadn't trasnferred it yet, of course I found the original like 3 wks later, the bond has long since expired and it's a regular title now.
My second point, my EB is on rebuilt title.
Resale, it will affect you IMO for the uninformed, inexperienced buyer(like Whoaa said). At least in Tejas, if a vehicle is declared salvage and then reuilt (and a rebuilt title is issued) that means the vehicle has been THROUGHLY inspected by some not so nice people w/ the DMV. I believe it's quite the inspection to get a salvaged reversed to a rebuilt in Tejas. So for me, I know it sounds silly, it was almost a security blanket of sorts.
My buddy's truck had full coverage, (early 80s Chevy stepside 4x4), his kid got in a fenderbender, little comsmetic damage but the ins. comp. totaled it, he bought it back and fixed it (like for sub $1K) but it had a rebuilt title after that.
Bottome line IMO: If you're building this for you, who cares??? I don't plan on selling mine, so all I cared about was a solid base. If you're building this not thinking long-term possession then yes, maybe a quick flip may be in order.
Non-Monetary, negotiating, for sale question: What's the difference between a rebuilding a rig that has a rebuilt/salvaged title and some rusted-in-half tub we found lying in a field? Just a piece of paper!
MPG_Bronco
Full Member
sounds like your plans is to have a bronco with mods for your wife, IMO, if it's a solid foundation then I would keep it and do it up.
I honestly think, if the bronco is in that good of condition, don't worry about the value, enjoy it.
most bronco's in good condition with a clear title have so much rust that they should be declared 'salvage' but people spend the extra $$,$$$ just to bring it back to 'par'. the fact that yours doesn't need half of that money just to be functional brings you so much further ahead in the long run.
IMHO, don't fret about the 'clean' title... it's a bronco and having a salvage title gives character to the truck (it took a licking and kept on ticking)
I honestly think, if the bronco is in that good of condition, don't worry about the value, enjoy it.
most bronco's in good condition with a clear title have so much rust that they should be declared 'salvage' but people spend the extra $$,$$$ just to bring it back to 'par'. the fact that yours doesn't need half of that money just to be functional brings you so much further ahead in the long run.
IMHO, don't fret about the 'clean' title... it's a bronco and having a salvage title gives character to the truck (it took a licking and kept on ticking)
Pretty sure I'll just do this one and deal with the title. I have so many accumulated parts I won't need to buy much but a couple of body panels and the usual overhaul parts for the running gear. Only mod will be front disc brakes. Any thoughts on transmission? The 3 on the tree may limit the potential audience I think. I do have a NV3550 I could put in. Any thoughts on this? Thanks.
sykanr0ng
Bronco Guru
- Joined
- Aug 11, 2014
- Messages
- 5,363
If insurance is not an issue then the only problem with the salvage title is if you plan on flipping it instead of keeping it.
If insurance is an issue then getting another Bronco in poor condition but good title and using this one for parts would be the better idea.
With the right differential gears and tire size an OD 5 speed would be a great improvement for driveability.
The NV3550 is rated for low torque limit but with a mild engine should be no problem.
They have out of production for years and the manufacturer is out of business.
I saw this on another thread, an NV3550 replacement is available:
http://www.rsgear.com/products/transmissions/terminator™.aspx
If insurance is an issue then getting another Bronco in poor condition but good title and using this one for parts would be the better idea.
With the right differential gears and tire size an OD 5 speed would be a great improvement for driveability.
The NV3550 is rated for low torque limit but with a mild engine should be no problem.
They have out of production for years and the manufacturer is out of business.
I saw this on another thread, an NV3550 replacement is available:
http://www.rsgear.com/products/transmissions/terminator™.aspx
smokinjoe
Bronco Guru
I would like to make an additional comment.
!!!Document your build like no other!!!
Anytime a panel is off take a pic of the guts. Then someday, if you ever do decide to sell it you can help alleviate any doubts the buyer may have re: the title, seeing detailed pics of a build may help squash any doubts someone may have re: a vehicle being pieced together, know what I mean? My last two cents
!!!Document your build like no other!!!
Anytime a panel is off take a pic of the guts. Then someday, if you ever do decide to sell it you can help alleviate any doubts the buyer may have re: the title, seeing detailed pics of a build may help squash any doubts someone may have re: a vehicle being pieced together, know what I mean? My last two cents