SOLD
- Thread starter OhioC5
- Start date
Yes, that's exactly how it works. Typically the insurance company will require you to wait a period of time in case it is found or recovered, then pay out if there is no sign of it by then. Then if it is found later you may be able to negotiate to buy it back from them (where it would receive the salvage title), or they sell it as salvage to someone else. Either of these would be sold at a price less than market value because they had already paid out market value for the car. Same thing if it is wrecked--they will pay you market value for the car, and you can sometimes negotiate to buy back the wrecked (salvage) vehicle for a portion of what they paid you (the salvage value), or keep the car and receive the market value minus the salvage value.
So bottom line is someone already received full value for the car when it was stolen and it looks like someone else bought it at a discount shortly after due to the situation/title issue. It's too bad because it looks like a really clean and nice car.
At least this one is still legit and can be bought and registered, etc. I saw one a while back in California. Not sure what happened to it but the title is branded such that it cannot ever be registered and/or driven again. It is basically just a parts car now, but it still looks and run fine.
kidsixpack
Active Member
- Joined
- Mar 11, 2010
IMO 24K is what that car would be worth with a clean title. Great looking car though.
KID
KID
seanconnery
Member
- Joined
- Dec 27, 2014
The lighting in the pics is really cool
6LE Designs
Member
- Joined
- Nov 23, 2011
If he's serious about selling it he's going to have to find a way to have it inspected and title fixed or drop the price. Someone already got paid out for that car, may not have been him but if he paid non salvage money for that car... well, don't know what to say.
Less miles and just as clean salvage car locally I just picked up for $9k. He either needs to do the work of getting the title cleaned up or come down to reality.
Not posting this to be an ass just trying to help as there are ways to get the title fixed... otherwise the price is ludicrous.
Less miles and just as clean salvage car locally I just picked up for $9k. He either needs to do the work of getting the title cleaned up or come down to reality.
Not posting this to be an ass just trying to help as there are ways to get the title fixed... otherwise the price is ludicrous.
In Ohio you can't fix titles. It's branded, there's no changing that any way. It's already sold for close to his asking price once, I don't think ludicrous is the right word, lol. I know who the the last 3 owners are.
To put the condition in perspective for anyone looking at the car. The last two GN's I've owned have been real low mileage cars. The first one had 19k and the second on had mid 20s on the odometer. This cars paint and interior blow mine away. It's a really nice car, someone will come along and be able to overlook the prior theft.
To put the condition in perspective for anyone looking at the car. The last two GN's I've owned have been real low mileage cars. The first one had 19k and the second on had mid 20s on the odometer. This cars paint and interior blow mine away. It's a really nice car, someone will come along and be able to overlook the prior theft.
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6LE Designs
Member
- Joined
- Nov 23, 2011
Congrats then if he already sold it! I didn't mean fixing in state, meant the MO (or is it Mississippi?) route...
C5 I was looking at the Ohio BMV site and it says that a fee would need to be paid and the vehicle would have to be inspected by state patrol before it can be titled and registered as roadworthy. Has this already been done? I see your point about it being a good looking car, however if the next buyer doesn't plan on keeping it forever, he/she will always have just as difficult of a time selling it as you are. I like the price and car. GL where is the car in Ohio?
The last 2 owners were my friends and the last owner plated it and has already had the inspection done. I agree, this is for the guy that wants a really clean car and has no plans on flipping it. The car is in Akron Ohio. There was another guy from this site that went to look at it. He couldn't live with the theft recovery, but he agreed, the car is absolutely beautiful.
vSICKsTURBO
Member
- Joined
- Aug 26, 2015
Failed emissions and was stolen less than a month later? Hmm. That sucks.
TURBOPOWERED68
David
- Joined
- Jan 31, 2006
I love these title conversations, who the heck drives a title? or takes a title to the car show? or creates memories with their kids with a title? Can't remember the last time i looked at any of my titles.
On the other hand for the guy looking to resell the car that is a different story.
BTW "the car has already been paid for so now it's worth less" is total BS.
Compare the car to other cars and that is what it's worth. deduct $100.00 for title blemish.
On the other hand for the guy looking to resell the car that is a different story.
BTW "the car has already been paid for so now it's worth less" is total BS.
Compare the car to other cars and that is what it's worth. deduct $100.00 for title blemish.
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