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Salvage Title Devaluation Impact?

Forum: C3 General Discussion

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Salvage Title Devaluation Impact?

Posted: 4/12/04 9:01amMessage 1 of 8
m
Former Member
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Joined: 8/2/2003
Posts: 178
Vette(s): '69 convertible
How much of a decrease in value on a C3 does a salvage title have?

|headscratch|
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Salvage Title Devaluation Impact?

Posted: 4/12/04 4:12pmMessage 2 of 8
I
Lifetime Member
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Joined: 7/24/2003
Posts: 2155
Vette(s): 1982 Collector Edition #3413
In fair shape around/no more then $5,000. |hammer|
Be very careful of the frame. You'll be doing alot of repairs with this car. |cussing|

IRON 82
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Salvage Title Devaluation Impact?

Posted: 4/20/04 12:39pmMessage 3 of 8
d
Free Member
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Lisle, IL - USA
Joined: 6/18/2002
Posts: 125
Vette(s): 1973 coupe Under Construction
what does having a salvage title meen in terms of actually owning the car? Does it interfere with getting a liscense or anything like that?
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Salvage Title Devaluation Impact?

Posted: 4/20/04 1:10pmMessage 4 of 8
l
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COLUMBUS, MS - USA
Joined: 1/11/2004
Posts: 331
Vette(s): 1972 Coupe; 350 4-speed with GM sidepipes; Classic White/Saddle
The values and responsibilities associated with owning a salvage-titled vehicle vary from state to state. The principle benefit of a salvage title is that (typically) the owner is exempted from insuring or licensing the vehicle. This is because the state assumes the "salvaged" vehicle to be un-roadworthy. Consequently, you cannot legally operate a salvage-titled vehicle BECAUSE it is assumed to be un-roadworthy!! |no-no|

The offices of your state DMV and/or your county tax assessor will have the definitive answers for the salvage title laws in your state. |thumb|

If you intend to drive it now, properly title it now. Otherwise, how do you expect to keep in touch with us from the slammer? |laugh|

John
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Salvage Title Devaluation Impact?

Posted: 4/20/04 8:18pmMessage 5 of 8
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CUYAHOGA FALLS, OH - USA
Joined: 12/2/2003
Posts: 6424
Vette(s): 1975 C3 Red, T-Tops, Black Interior. All I need is time and money! Getting there!
In Ohio, you can't drive or license a salvage title car. Just own it. You can make arrangement with the Ohio Highway Patrol to have the car inspected and passed, allowing you to convert the salvage title into a regular title. It's history still shows it was a salvage title. I'm guessing other states are similar, but I don't know. |headscratch|
On the "Tail of the Dragon"
(some day, no strike that, October 2008 it turned red, still in progress!)

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Salvage Title Devaluation Impact?

Posted: 4/20/04 8:37pmMessage 6 of 8
r
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Terrell, TX - USA
Joined: 4/20/2004
Posts: 5
Vette(s): My son and I buy, sell, and restore Corvettes. Specializing in C3's. We've owned/restored nearly 100 Vettes.
I've sold several with a salvage title- Today I sold a white 75 for 5,000. Nice driver- would have went the 7 range. Salvage definately has an impact- not as much to someone just looking for a car they can drive+enjoy. Also- in the state of Texas the vehicle in question is issued a "salvage certificate" After the car has been repaired it goes through a precise examination by the State highway partol to be eligible for a Blue salvage title.

|UPDATED|4/20/2004 8:37:46 PM (AZT)|/UPDATED|
|COLOR=BLUE| |/COLOR|Robelvisstreet
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Salvage Title Devaluation Impact?

Posted: 4/20/04 9:39pmMessage 7 of 8
d
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Lisle, IL - USA
Joined: 6/18/2002
Posts: 125
Vette(s): 1973 coupe Under Construction
thanks for all of the advice, does anyone no anything specific to Illinois?

|UPDATED|4/20/2004 9:39:02 PM (AZT)|/UPDATED|
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Salvage Title Devaluation Impact?

Posted: 4/20/04 9:42pmMessage 8 of 8
m
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Joined: 10/21/2003
Posts: 1220
Decripid, try the Illinois Sec. of State website. http://www.sos.state.il.us/home.html Type in salvage title in the space. I think on the first thing that comes up, click the "cyberdriveillinois". Gives some info on inspecting. Note- JUNK title cannot be registered. Salvage OK with inspection. Mike
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