Originally Posted by
performanceisland
I want to be very clear because a lot of people do not understand what a big difference there is between a salvage and rebuilt title. The vehicle was NOT sold with a SALVAGE TITLE!!! It had an Illinois rebuilt title. The vehicle had a prior salvage history, as it was totaled and previously issued a salvage title by the insurance company, but my company already completed the process of rebuilding the vehicle and applying for a rebuilt title.
A rebuilt title is the same as a regular title for ALL registration purposes and insurance purposes.
Salvage title vehicles cannot be registered OR legally driven until the vehicle is properly repaired, then passes inspections and finally gets a rebuilt title which can only be obtained using a licensed vehicle rebuilder, and proof of repairs, etc. Mine already had gone through that process which at times can be long and complicated and the new buyer already registered the vehicle with no problems.
These rules vary slightly from state to state, just like totaling threshholds (25%, 50%, 75% of damage etc).
Furthermore there is a lot more title types then just simply, salvage, rebuilt, original, but I wont get into that.
Sold for almost $11K. Keep in mind the vehicle was in tip top shape, no mechanical issues whatsoever, lots of maintenance done, so the buyer doesn't have to spend money on maintenance or repairs which is very common when buying a used vehicle. $1500-$2500 on a used amg mercedes easy if the vehicle maintenance was neglected.
You are correct in the difference between a salvage and rebuilt title. However, it is not in anyway the same as a clear title. It is a branded title forever.
- Many insurance companies will not insure a car that has ever been considered a total loss and received a salvage title even though it has been resurrected with a rebuilt title (State Farm is an exception to that).
- Many banks will not lend on a car with a rebuilt title.
- Most dealerships will not take a car with a rebuilt title in on trade.
- Some states, I think Georgia is one, get real fussy about issuing a title if the car has ever been rebuilt.
- Rebuilt titles may trigger a TMU (True Mileage Unknown) branding on title.
- Typical rule of thumb is a 50% reduction in retail value of vehicle if it has a rebuilt title.
It will never be the
"same as a regular title for ALL registration purposes and insurance purposes" . That said, the condition of your car as judged by the photos was much better than the only local 320AMG SLK I have seen.