Buy a Rebuilt Titled car or not????? - Corvette Forum
 
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post #1 of 2 (permalink) Old 05-16-2016, 02:21 PM Thread Starter
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Buy a Rebuilt Titled car or not?????

OKAY the big question and believe me I get a lot of answers / opinions / and just plain ????'s themselves....... Have been looking at C4's for a few months, alot of them are bad/worn out/ extremely high mileage cars. Well I found a Black with gray interior 1993, beautiful car, new tires,can eat off the engine type car. Cruise doesn't work-- no big deal there BUT it has a REBUILT TITLE from N.Y. ( I'm in Va.), Carfax said title was recorded in error and should have been corrected, car then sold in N.J. attached Rebuilt title, , present owner said it was stolen in N.Y. and no damage but insurance paid it off....last owner before this one said is was in accident and rebuilt....did a investigation thru Va DMV and it states car was in accident and 71% plus..........so who do you trust and do you take a chance???? $6500 for a 54Kmile car is good but can you ever resell if needed??? That is the question I guess..... how much does the title reflect on the cars trade in/retail/wholesale prices ?????....................
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post #2 of 2 (permalink) Old 05-17-2016, 03:24 PM
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It will (I think) always reflect a rebuilt title. A car that is in an accident is often "totaled" if the repair cost exceeds the blue book value.

For example, I had a 95 Chevy S10, my daughter crashed it and the repair costs were $4,000 (estimated) more than the blue book. The insurance company paid me for the value of the truck and THEN I bought it back. I fixed it and drove it for years before I junked it. The title was always a rebuild title but who cares, it ran great and I kept it until the truck was beyond economic repair.

In your case it seems there are conflicting stories but if the insurance company paid it off and then it was recovered the only way to retitle the car is to issue a rebuilt title; in my case there was damage but was easy to fix.

I recommend buyer beware and think about your future with the car; for me I keep them until they cannot be repaired/fixed/maintained economically.
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