Honda Car Forum


 

Go Back   Honda Car Forum - Accord Parts Civic Tuning Acura Racing > Discussion > Acura Technical

Reply
 
LinkBack Thread Tools Display Modes
  #1 (permalink)  
Old 19 Jan 2014, 04:02 pm
Junior Member
 
Join Date: May 2013
Posts: 3
Default What should I pay for an Acura RSX?

My friend is in car selling business and he has a nice 2003 Acura Rsx with 78000 miles, it is grayish color with leather and a Navigation. It seems to be in a good condition and low miles, he wants $5500 for it and he told me today that it has a salvage title. So give me a good strategy to bump down the price. What should I pay? Thanks
Reply With Quote
  #2 (permalink)  
Old 19 Jan 2014, 04:17 pm
tim tim is offline
Senior Member
 
Join Date: Aug 2007
Posts: 119
Default

Be VERY careful of a "salvage title". Lots of those cars were buried in water/muck/mud and cleaned up but should be used ONLY as a PART car....not something you plan to drive. Your friend isn't being quite level with you! Here's what's considered a "salvage title".















Read this:















Resale value of vehicles with a salvage title[edit]































Vehicles which carry a salvage title may not be registered and driven on public roads in most states,[8] which impacts resale value.[7] Rebranding of the title is not permitted without having an inspection to verify that they meet all safety standards.[9] The inspection procedure may be complex,[4] and attempts to illegally circumvent the inspections are periodically reported.[10]















Industry standards followed by the National Automobile Dealers Association Appraisal Guides, Kelley Blue Book Market Report Official Guide, and the International Society of Automotive Appraisers devalue a motor vehicle that has a salvage title. Kelley Blue Book automatically rates any salvage vehicle as "poor" and does not value it at all.[11] The value of a vehicle with a salvaged title is usually 25%-50% lower than the vehicle's estimated value. These cars cannot be registered or operated on public roads or highways.















If the vehicle is rebuilt to a road worthy condition and has passed State inspection the difference in price is 10-25%. These cars have "rebuild" or "rebuild salvage" annotation in the title and can be registered and operated just like a new car.















Cars that previously had "junk" title and were restored to road worthy condition get new title and new VIN after state inspection. New VIN will not match any other VIN numbers on the vehicle doors or panels. Year of the vehicle is determined by title issue date. These are considered to be self assembled cars.















Title washing refers to transferring a vehicle's registration for the express purpose of removing a title brand.[12] The practice is legal, and practiced by the insurance companies themselves.[13] Title brands such as "salvage,""junk," and "rebuilt" are not standardized, and a vehicle which has such a designation may receive a clean title when registered in a different jurisdiction. Further, vehicles imported to or exported from the United States and Canada are issued a clean title, even if they have been involved in an accident. Other states have relatively lax inspection criteria to remove the salvage brand.[2]















Read ALL of it at the bottom link!!!!!!!!!!!! Buyer beware....I don't care what your "friend" told you. The info here is a fact...please read all of it below and be leary of any car with a salvage title!!!!!!!!!!!!































en.wikipedia.org
Reply With Quote
  #3 (permalink)  
Old 19 Jan 2014, 04:32 pm
Senior Member
 
Join Date: Aug 2008
Posts: 1,017
Default

Salvaged titled cars are worth nothing
Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT -5. The time now is 09:04 pm.


Attribution:
Honda News | Autoblog
Powered by Yahoo Answers




Powered by vBulletin®
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.6.0 PL2 © 2011, Crawlability, Inc.
HondaCarForum.com is not affiliated with Honda Motor Company in any way. Honda Motor Company does not sponsor, support, or endorse HondaCarForum.com in any way. Copyright/trademark/sales mark infringements are not intended or implied.