Totaled car... previously salvage/rebuilt title... currently clean title- insurance payout?

Question

I brought a car that previously has a salvage/rebuilt title on it but it currently has a clean title in the state I currently reside. Will my insurance company look at the current title or the entire record of the car?My guess would be the entire record but I just want to make sure.

Thanks,
-Chris

Why would my insurance go nuts when they find out it previously had a salvage/rebuilt title? Its not like I lied to them. I gave them the VIN, its on them to do their research.

Answer 1

If you had a salvage/rebuilt title it will always be branded with previously salvaged. You can't go from a salvage title to a regular title, unless the DMV forgot to code it in their computer, this really does happen when a vehicle is coming from a different state and the DMV clerk forgets to put in the code for it. I know this because I used to be a DMV clerk in Nebraska!
If your title does not show prev salvaged or with any thing else showing it is salvage, I would suggest going to the DMV and have them verify it. That is a major deal! For resale, getting a loan(because they can't loan out the full amount because of it's condition). You really need to look at your title, if you can't find anything on it that says something about salvage take it back to the DMV asap, they need to fix it, it should not cost you anything considering it was their fault!

Would you like to buy a vehicle thinking it has never been wrecked? Do the right thing

Answer 2

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Answer 3

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RE:
Totaled car... previously salvage/rebuilt title... currently clean title- insurance payout?
I brought a car that previously has a salvage/rebuilt title on it but it currently has a clean title in the state I currently reside. Will my insurance company look at the current title or the entire record of the car?My guess would be the entire record but I just want to make...

Answer 4

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Answer 5

Car Totaled Insurance Payout

Answer 6

There is no problem with a prev. salvaged vehicle. I worked for the dmv, and that could mean a really banged up car that has been rebuilt, or it could be a car that had some minor damage, and the insurance company wanted to total it out. It will be forever branded a rebuilt salvage.

My insurance agent has never asked to see the title or even the vehicle, but mine are not rebuilt salvage.

When the car is a prev. salvage, it means it has been inspected by a highway patrol or other licensed agency, and deemed roadworthy.

A "clean title" has nothing to do with it being salvaged....it just means that there are no lienholders (loan companies/banks/debtors) listed on the title.

I had many clients in the dmv who absolutely loved buying rebuilt salvage vehicles, and had no problems.

Don't worry too much about it.

Answer 7

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Answer 8

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As for the insurance, yes, just go get insurance and you'll be able to show proof when you go to court, they will likely reduce your fine for providing the proof of insurance. If you don't insure the car, and go to court, you'll pay the full fine, plus any other costs. Regarding the pawned title.............Yes you still have to pay for the loan and will not receive the title until the debt is paid in full. I'm guessing interest rates on this loan are very high, poor decision, but it's already happened, so you must move on and learn from it. The damaged car is not payment by itself, the pawn was for an undamaged car, it doesn't make the loan go away, it just means that it's gonna cost you to fix the car, and you'll probably be sued by the people you wrecked into. Whether you choose to use the car, or purchase a new one, is up to you, but, you are digging a deeper hole in debt, and the old debts don't go away. Good luck.

Answer 9

It would be based on the current title on record,they each have a number and a sequence of letters/numbers indicating time/where/when the title was secured. If all documents used for that title were properly processed,then there should be no arguement,however,if there were errors,receipts not used to establish a value,or the treasury dept for your state didn't give a fair market value,then the insurance company will stall and delay payment. In order to receive more than fair market value for your vehicle,you would need to supply records indicating the improvements made,such as tires/rims/stereos/speakers. You can have all that in there,if you don't have the receipts,the insurnace adjuster has alot of leaway.

Answer 10

I don't know what your Insurance company will do, but when they see a clean title, but find out it was a salvage title, your coverage may go nutts