Originally Posted by
MiamiTVR
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.
you are correct with most of your statements, which once again A LOT of these rules STILL vary from state to state, insurance company to insurance company etc. For example here in illinois NOT actual mileage is a seperate sub-branding you can have a CLEAN (not clear) TITLE with the words, NOT ACTUAL MILEAGE once someone marks that box on title app its always there, but REBUILT is a BRANDING that does NOT have to have the words not actual mileage, this gets all very confusing from state to state. We Specialize in rebuilt cars so we know very well what the rules are in OUR state, and some others.
CLEAR TITLE is often misunderstood that it means it is not branded that is NOT true by definition,even though most people don't realize the difference, CLEAR simply means it is clear of any liens, loans and encumberances, and ownership is not in any way contested. So the term CLEAR REBUILT TITLE is as accurate as it gets for my vehicles description, I did NOT describe it as CLEAN title, which would be an original or duplicate title with NO BRANDING, there for I cannot say that it is CLEAN, because my title was branded rebuilt which i clearly disclose. A rebuilt title is no longer clean, it has a "smudge" forever its been "tainted" or "marked", remember when people used to "WASH" titles, by titling in states that didn't have rules in place for branded titles? Shady dealers would "Wash" a branded title through state lines and get a 'CLEAN" title, NOT a"clear" title.
Personal Example, had an instance of a 2003 slk32 amg with 40K miles on it, totaled, salvage title issued, rebuilt, rebuilt title issued, insured (by state farm), car was damaged in accident again, State farm valued the vehicle at almost $20K with the rebuilt branding (same as no branding at all), they paid the claim with no issues, and would not total the vehicle because the damage was only 50% of value, and they continue to insure it today. i speak from very extensive experience which took many years to learn.
Yes some banks may not want to loan money and some insurance companies may not want to insure, but others will.
I wont pretend I know ALL the rules for ALL the states, BUT I know them well for my state.
So here 'Ill correct this statement:
In my state a rebuilt title is considered the same as a regular title for ALL registration purposes however some insurance companies may not want to insure it. I know that State Farm does NOT care and will insurance the vehicle with No problems as will some other companies.