What are some issues with buying a car with a salvage title?

#1 (**permalink**) 03-20-2009, 11:01 PM

I'm not buying I'm selling but want to know what, besides the title, would keep someone from buying the car. It's a 96 Cavalier with 84k miles on a rebuilt motor. It looks really nice and runs great, but it was rear ended. The damage isn't so bad to the trunk, but the trunk rim was bent so the insurance company totaled the car. Part of the settlement was a salvage title but I can keep the car. I might drive it, I might sell it as a point A to point B car for $1,000 OBO. What does anybody think?

#2 (**permalink**) 03-20-2009, 11:01 PM

People are fearful that a car with a salvage title is a piece of junk and /or a time bomb. They think you are just trying to unload it before it explodes. It is foolish but ......if you drive it for a year, you will have gotten your money s worth out of it , proven that it is safe and durable and someone who knows and trusts you will probably pay more.

#3 (**permalink**) 03-20-2009, 11:01 PM

if you sell ... the bank will not want to loan on it ... so you would have to accept a cash offer from who ever wants it ....

either that ... or if the person who buys it from you somehow did manage to get a loan for it .... they would probably be charged huge interest rate for the loan .... I tend to think a bank would not touch it these days ...

#4 (**permalink**) 03-20-2009, 11:01 PM

if you sell ... the bank will not want to loan on it ... so you would have to accept a cash offer from who ever wants it ....

either that ... or if the person who buys it from you somehow did manage to get a loan for it .... they would probably be charged huge interest rate for the loan .... I tend to think a bank would not touch it these days ...