89grand
TJ Addict
Insuring a vehicle with a salvaged title shouldn't be a big deal. Financing one however might be more difficult.
Looking at a Jeep that has been repaired from an accident
- Thread starter Schat64
- Start date
Weird. I have State Farm and years back they told me they wouldn't give full coverage on a vehicle I was looking at because it was a branded title.
Financing a vehicle with a branded title is impossible as far as I know.
No major financial institution (and I've looked) or credit union offers auto loans on branded title vehicles. You could get a different type of a loan (i.e. a personal loan), but I looked into this years back and couldn't find anyone.
Makes sense from the standpoint of the lender.
Ok, so whats the difference between buying a Jeep that was damaged and repaired vs buying a Jeep that had all the control arm mounts cut off and new aftermarket mounts welded on in different places? Or buying a Jeep that somebody cut the frame in half and extended the wheelbase? Or buying a Jeep somebody installed axles that were intended for another vehicle? An engine swap?
Just my two cents:
I bought (albeit unknowingly a branded title 98 TJ). Had a clear California title and Carfax only showed it being in an accident in 2004 with left front bumper damage when it was registered in Ohio. Fast forward 3 years and I go to register in Colorado, and it now has a branded title. Seems at the time they were still implementing the reporting system to the national database and not all states were doing it yet. California to this day only inputs data it does not provide data to it. Colorado on the other hand reports and receives. The reason it had a clear CA title and Carfax report is that Ohio at the time was not reporting information to the national database. All this said, the Jeep runs great even though the supposed reason for the branded title is front left and right body damage as well as roof damage (like it was rolled). I see no signs of this. The accident in question being 15 years ago I am not to worried about it. What makes me more upset is that I paid for a clear titled vehicle and now I have a branded title vehicle. So I lost 60% of my value. What I am saying is don't trust Carfax, and do your homework on that one in terms of the title and where it came from. It may come back to haunt you even if it runs good.
I bought (albeit unknowingly a branded title 98 TJ). Had a clear California title and Carfax only showed it being in an accident in 2004 with left front bumper damage when it was registered in Ohio. Fast forward 3 years and I go to register in Colorado, and it now has a branded title. Seems at the time they were still implementing the reporting system to the national database and not all states were doing it yet. California to this day only inputs data it does not provide data to it. Colorado on the other hand reports and receives. The reason it had a clear CA title and Carfax report is that Ohio at the time was not reporting information to the national database. All this said, the Jeep runs great even though the supposed reason for the branded title is front left and right body damage as well as roof damage (like it was rolled). I see no signs of this. The accident in question being 15 years ago I am not to worried about it. What makes me more upset is that I paid for a clear titled vehicle and now I have a branded title vehicle. So I lost 60% of my value. What I am saying is don't trust Carfax, and do your homework on that one in terms of the title and where it came from. It may come back to haunt you even if it runs good.
OP
Thanks for the help I appreciate it and it’s a clean title I’m not financing it so that’s not a worry and I am going to look at it this coming weekend and the frame looked at to make sure it’s square and have a PPI and pre safety done for it to see what I’m getting into but as long as it checks I’m happy and it would be my second vehicle so it doesn’t have to be perfect just solid
hardtopper
Member
How long ago? My experience goes back 15 years, so I can't speak to anything they did before that.
There's a national database? Got any details on that? I didn't think the states work with each other at all on that kind of stuff...
OP
OP
hardtopper
Member
I had a random conversation with a neighbor yesterday, and he mentioned State Farm wouldn't insure a salvage vehicle for him. He thinks it might have to do with whether it was covered by State Farm before the accident, i.e., they'll only cover branded titles that they already had the policy on.
That never came up when I insured a salvage title vehicle with them, though. I simply asked my agent it was possible to insure it, having heard all the stories to the contrary, and was told yes without being questioned about the VIN. Maybe there's no strict policy and it just depends on how accommodating your agent is.
That never came up when I insured a salvage title vehicle with them, though. I simply asked my agent it was possible to insure it, having heard all the stories to the contrary, and was told yes without being questioned about the VIN. Maybe there's no strict policy and it just depends on how accommodating your agent is.
AAA through Travelers will only insure a salvage title for liability coverage.
My kid's first car was a salvage title, but not worth the extra cost of comprehensive coverage. We only paid a little over our normal deductible for it. Based on statistics, one of the 2 kids should have wrecked it, but neither did. I put a new battery and brakes on the 4WD Suzuki and it always worked.
My kid's first car was a salvage title, but not worth the extra cost of comprehensive coverage. We only paid a little over our normal deductible for it. Based on statistics, one of the 2 kids should have wrecked it, but neither did. I put a new battery and brakes on the 4WD Suzuki and it always worked.