Originally Posted by
Rpaczan
Ok, so do you know the reason for the rebuilt title? Pick one:
Unknown Reason for Rebuilt Title
Estate Sale
Theft
Seizure
Stolen Parts
Water damage
Fire damage
Also, when you provide the explanation please include the VIN so we can check on Carfax.
Here's some additional info for forum members on rebuilt titles to consider:
Is a rebuilt title insurable?
Yes , it is. You should get liability converage without problems. As to full coverage (comprehensive and collision), not many companies will cover rebuilt vehicles, most will not give you collision. However, large companies like State Farm, GEICO, AllState or Progressive are reported to work with rebuilt autos. Contact the company, provide your car’s specs and ask a quote.
Does rebuilt title affect insurance?
Yes, it does. It primarily affects the number of companies that will insure it and the value of your vehicle. While liability should not be a big problem, not every company will offer full coverage insurance on a rebuilt title, very few will offer collision and vehicle’s value will be lower, which is absolutely just. However, the rates should not be affected, so the lower the value the less you pay. Many rebuilt car owners are only happy with that.
Does rebuilt title affect value?
Yes, it does. The value of a rebuilt vehicle is lower that that of a clean title. But how much a rebuilt title affects the value of a car depends on a number of factors, such as age, the type and extent of damage, quality of repair works. Generally, such autos are devalued by as much as 15-50%
Adding to Rpaczan's post, If I remember correctly, various states have their own requirements for titles that have some kind of 'emphasis' on them. A 'rebuilt' title in one state vs a 'rebuilt' title in another, have differing requirements (and I believe some states may not let you register it). Now, this all comes from a place deep in my mind that may be wrong (even though those deep places are more often right).
If I was thinking of purchasing a car with a rebuilt title, I would check in-depth with both my current insurance company and current DMV. Future moves may or may not also come into play. An old saying 'caveat emptor' has a good application in this case (again, I believe it warrants mention and checking).