What does a rebuilt vehicle mean under "ledger" section of title?
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I recently bought a car off of a friend, and just now noticed that on the title it says, REBUILT VEHICLE under the LEDGER section of the title (NEW HAMPSHIRE). What does this mean? Is this a bad thing?
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Answer:
probably means it was wrecked at one point and the cost to fix was higher than the value of the car. As long as it was fixed right it isn't necessarily a bad thing
Emily J at Yahoo! Answers Visit the source
Other answers
Ugh... It could be a very, very bad thing indeed. In most states this means that at one time the vehicle was declared a 'total loss' by the state and it has now been repaired and retitled for sale. Being a total loss could mean that it was involved in a horrendous crash, burned, flooded, etc. OR it could be as simple as a fairly minor incident that deployed the air bags and cost to repair exceeded the value of the car. Every vehicle sold should have a declaration of prior damages attached so see if you can dig that up. Carfax may have info on the vehicle also though I would go straight to the source -- your 'friend' and ask him/her what the heck is going on. If they sold you the car without telling you it was in a crash and had been repaired you may be able to force them to refund your money.
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