Salvage Title - Value impact??
Extreme HDF Member
Joined: Jun 2011
Posts: 10,216
Likes: 224
From: Glendale AZ
I had my Honda looked at by a body shop before i bought it and there are fewer things required for the DMV to deem it road worthy than you'd think. The body shop said he would fire an employee if he did the repairs on it but he'd buy it. Told me if it can be aligned (wheels) then buy it, if it can't don't. That's what I went by and did. For a bike, there's a hell of a lot to look at. If it just got wet that's diff but you really don't know and their not going to tell you just that the things the DMV deem road worthy have meet minimum requirements. I got a 12k honda for 6500 but I can show you what I bought and had to deal with it. Hell every time it rained the inside would fill with water.
Road Warrior
Joined: Nov 2006
Posts: 1,462
Likes: 121
From: Northern Illinois
So I am hearing anywhere from 25-40% loss of value with a salvage. Blue Book has it at $16,000 so even with a 40% loss....looking at $9600 which might be able to get him close to. But I am hearing Blue Book is on the high side...and there's plenty out there in the $12,000 range with 10,000 miles with a clean title. Been watching Craigs list religiously (Omaha / Kansas CIty / Minneapolis) and only seen 1 street glide that came close. I am looking for an '07 or newer...I want the bigger motor and 6 speed....they obviously seem to be a lot harder to come by in my price range.
THANKS for ALL of the input....guess I'll keep my eyes open for a great deal...and hopefully my laying awake in bed at night thinking about this one will go away...
Steve O!
When you are looking at Craigslist, or whatever, don't judge the field by asking price and think you are priced out of the market. Actual selling price is usually a couple thousand less on late model Harleys, sometimes 3 or 4 thousand less.
Outstanding HDF Member
Joined: Nov 2006
Posts: 2,144
Likes: 10
From: Mass
As an insurance agent I can tell you that I don't know of any companies that insure a salvage title vehicle for full coverage. Liability only at best. Of course if you don't tell the company that it's salvaged they usually don't check but don't count on coverage actually paying off if you have an issue; so misrepresenting it isn't in your best interest.
I spent a lot of years in the car business and now the insurance business; I wouldn't touch a salvage title vehicle.
I spent a lot of years in the car business and now the insurance business; I wouldn't touch a salvage title vehicle.
Stellar HDF Member
Joined: Jul 2009
Posts: 2,476
Likes: 193
From: Las Vegas, NV
..sorry...that's not accurate....here in Mass it is not a bid deal putting one back on the road..repairs have to be completed per the appraisers estimate, or explained if changed, then it goes to a state inspection...if it's fixed right, it passes inspection, then it's back on the road it goes...how do you think a lot of body shops make extra money?...they buy totals at auction, fix and sell....I work for a major carrier, 15+ years in insurance...
So your carrier will insure a previous total loss full coverage as long as it passes the inspections? Question for you (because I'm curious): once it passes all the inspections does it have a clear title in your state? If so that seems very odd to me. As a consumer I'd always wonder if the bike/car had been salvaged before. I know that here in NV if it has a salvage or "rebuilt" title no one I know will insure it knowingly full coverage. The value is most certainly affected so I wonder: How does your carrier compensate an insured when there is a loss on a previously salvaged vehicle? (I'm not questioning your answer being correct in your state, but I'm curious how it works there as it's just good information for me)
When I lived in the Detroit area I knew someone who purchased an '88 Iroc Z Camaro that had been rebuilt and the title was branded as such. Even though it passed all the state inspections it drove sideways and the inner wheel well was cut out because the shock tower wasn't pulled out properly so when you'd turn the wheels one would hit it. There is no question that putting previously salvaged cars back on the road happens all the time but I don't believe for a moment that the so called inspections actually do much.
I've seen so much crap over the last 20 years that I'd rather pass on on a salvaged vehicle.
Tourer
Joined: Jun 2011
Posts: 305
Likes: 0
From: NH
I bought a salvaged Honda Civic and Progressive insured it just fine. If it gets totaled they will give me full value making it double what I paid for. The only down side is your never going to be able to sell it...ever. No one will buy it and your stuck with it. Thats fine on my Honda since I will keep it till its junk which most do. A bike, well very few keep it till its junk so keep that in mind.....
Intermediate
Joined: Jan 2011
Posts: 46
Likes: 0
salvage ain't so bad
its only $12,500...if all of the tins are replaced....new wheels & tires...fairing etc....over a sun faded scratched 2007 ....you might be farther ahead..........heck on a merican chopper they take a frame and motor...then build a bike...(kinda like a salvage)....if you like it buy it
Road Master
Joined: Aug 2006
Posts: 1,113
Likes: 36
From: Ormond Beach, FL
You asked.... I would not touch it with a 10 foot pole. This past winter I found 4-5 2006
Street Glides with less than 5000 miles for $11500-13000. This would be a better buy IMO.
Street Glides with less than 5000 miles for $11500-13000. This would be a better buy IMO.
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Outstanding HDF Member
Joined: Nov 2006
Posts: 2,144
Likes: 10
From: Mass
So your carrier will insure a previous total loss full coverage as long as it passes the inspections? Question for you (because I'm curious): once it passes all the inspections does it have a clear title in your state? If so that seems very odd to me. As a consumer I'd always wonder if the bike/car had been salvaged before. I know that here in NV if it has a salvage or "rebuilt" title no one I know will insure it knowingly full coverage. The value is most certainly affected so I wonder: How does your carrier compensate an insured when there is a loss on a previously salvaged vehicle? (I'm not questioning your answer being correct in your state, but I'm curious how it works there as it's just good information for me)
When I lived in the Detroit area I knew someone who purchased an '88 Iroc Z Camaro that had been rebuilt and the title was branded as such. Even though it passed all the state inspections it drove sideways and the inner wheel well was cut out because the shock tower wasn't pulled out properly so when you'd turn the wheels one would hit it. There is no question that putting previously salvaged cars back on the road happens all the time but I don't believe for a moment that the so called inspections actually do much.
I've seen so much crap over the last 20 years that I'd rather pass on on a salvaged vehicle.
When I lived in the Detroit area I knew someone who purchased an '88 Iroc Z Camaro that had been rebuilt and the title was branded as such. Even though it passed all the state inspections it drove sideways and the inner wheel well was cut out because the shock tower wasn't pulled out properly so when you'd turn the wheels one would hit it. There is no question that putting previously salvaged cars back on the road happens all the time but I don't believe for a moment that the so called inspections actually do much.
I've seen so much crap over the last 20 years that I'd rather pass on on a salvaged vehicle.