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Should I buy a car with an open title?

Should I buy a Salvage Title Car?

  • I'm 16 years old and about to get my first car. I found a 2008 Nissan Sentra SE-R Spec V for $12900 and only 28,000 miles. I'm definitely interested in it however it has a salvage title. I checked the carfax report and it has "undercarriage impact" and was "towed from the scene". I'm not completely sure about what the undercarriage is. I assume it's literally the bottom of the car however, I want to know how that can possibly be damage. This car is at my local nissan dealership so I don't know if that's a good thing. I, as well as my parents, worry about the maintenance and insurance of a salvage car as compared to an unwrecked used car. Should I buy this car?

  • Answer:

    "One of the most common questions I’m asked about from those buying cars on Craigslist—or any other online classified website—is what’s up with all the cars with salvage titles for sale? Are they a good buy? Should they even be considered? The short answers are no and no. What is a Salvage Title When an insurance writes off a vehicle—effectively saying that after an accident it will cost more to fix than its worth—the DMV issues a special “salvage title” to make sure no one buys it without knowing its history." "You should also know that your insurance company may not even be willing to issue a new policy on a vehicle with a salvage title. There are other concerns. Can you pay for the vehicle with cash? Banks, credit unions, and online lenders all have different policies concerning vehicles with salvage titles. Getting a car loan on the one you’re looking at may not be possible. Besides all that, the insurance company would not have written the vehicle off if the damage was not more than what the vehicle was worth—or very close to it. Either way, as an ex-Internet Manager for a major car dealer, I won’t take the risk and even consider a vehicle with a salvage title for myself. I counsel my friends to walk away from these unique vehicles, as well. After all, they were written off and issued a “salvage title” for a reason." http://www.thecarconnection.com/news/1056006_craigslist-beware-salvage-title-vehicles http://www.kgw.com/news/consumer/Beware-of-salvage-car-titles-120909699.html

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Iwould shy away.............When you go to resale it it will be hard to sell. Depreceation for the salvage title generally is between $2000 to $4000 bucks. Buyer Beware

joe t

Only if its well below kelly bluebook fair condition price. To get a idea for what salvage cars sell for, look on craigslist and type in the key word "salvage." That seems like a lot of money for the car. The insurance shouldnt be any more then a clean title car. Most people will say not to buy one but I would say only buy one if the price is good, something like half price because youre takeing a risk. I know poeple who bought them and never had a problem and saved a lot of money. Just bring the car to the mechanic and get a good inspection done. 12.9k sounds like way too much. I would make a offer of find a different one.

Ryan

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