Salvaged/rebuilt title cars TABOO?

[macninja77]

im waiting on parts. guys like 25 years ago their was no salvage title cars were wrecked and reparied

 

[RSO 34]

and BAMMM your car is up to 15K worth of damage

value of car is around 30K

so the damage is worth half the cars value.
they total it

Most insurance companies won't total a car unless the damage is at least 80% of the ACV at the time of loss.

 

[LJSB]

an nsx that has been damaged can be properly restored so that it's as good as new. The problem isn't that it can't be done; the problem with a car with a salvage title is that there is a whole lot less financial incentive to spend the money needed to do the repair properly, and it's much more likely that a repair will be done cheaply rather than properly and completely. An nsx is very expensive to repair, which is why they are often totalled by insurance companies who know that the cost of repairing it properly would be more than the car would be worth. (and no, they don't brand a car with a salvage title when it needs a minor repair like bumper damage, so don't kid yourself.)

this ^^^^^^^

Someday I will rebuild a salvage NSX.

So far I can't put one together so that it makes financial sense. The cost of the car, the parts, used, or other wise, with labor brings me up too close to the full retail of a undamaged NSX to make it worth while.

 

[alum04org]

im waiting on parts. guys like 25 years ago their was no salvage title cars were wrecked and reparied

Not exactly certain what you mean with this statement, but will take indirect issue with it, because 25 years ago major USA insurance companies would secure a "salvage title" on any stolen/unrecovered vehicle automatically after it had been out over thirty (30) days - the logic was, if it ever comes back, it's gonna be damaged. These same ins companies have altered their "SOP's" over the years for better return on their "total losses." Sure, that's for theft-recoveries and you mentioned wrecked.
There have been "salvage title" regulations, and even "junking certificate" provisions, for over thirty years now in the USA, depending on individual state mandates. (The individual state requirements boost "title washing", but that is topic for another thread(s)).

Most insurance companies won't total a car unless the damage is at least 80% of the ACV at the time of loss.

Correct, depends on which state. My state is 75%.

this ^^^^^^^

Agreed.

 

[doctor z]

Thanks for infomative post Shawn. I never even figured in the part of the equassion where the insurance company owns the car and now recoups on auction sale. Simple math says "Totalled"... Without figuring in the auction recoup, I couldnt figure how mathematically it would benefit the insurance company. I had my CRX totalled for a simple front bumper cover rip. No amount of pleading could convince them that my CRX was not "Totalled". Dollars and cents rules, no matter what.

 

[LJSB]

1% factual knowledge mixed with 99% assumption and free association.:smile:
It becomes follow the bouncing logic.