I'm looking at a 2004 F250 crew cab 4x4 with a 6.0L and auto trans that I could get very cheap, BUT it has a salvage title. That puts the resale value in the toilet if I wanted to trade it in at a dealer, but what about a private party deal? The truck was not totaled, it is a recovered stolen vehicle. My concern is that if I went for the deal then for some reason decided I wasn't happy with it and tried to sell that I'd have a hard time selling it or risk not even being able to break even on it. Let me know your thoughts, thanks!

 

My bank won't give me a loan on anything with a salvage title.

 

Check your local state laws. Some states will have a provision that allows you to remove the salvage provision off of the title after the vehicle has been licensed for a certain amount of time.

 

Good to know redford, I'll look into that!

 

I know Washington state has that provision. My buddy purchased a pickup under the same scenario as the truck you're looking at (stolen, interior stripped). He kept it 5 years, got the salvage title changed to a normal title and sold it.

 

Az. is bad for that. They won't even let you get full coverage insuranse, if it has a salvage title.

 

What insurance carrier is going to give you Comprehensive insurance on a vehicle with a salvage title (ie vehicle has been totaled)?

Comprehensive coverage is to replace/repair the vehicle if it is damaged. When a vehicle gets below book value (ie to old) or is totaled you can no longer get comprehensive coverage.

 

Maybe I should have kept everything in one post... my bad. The seller says the insurance company marked the title non-repair flood damage. There is no evidence of water inside the rig anywhere, it's just muddy and banged up from 4-wheeling.

 

I love it how ALL salvage title vehicles come with a "nice" story.

"It was a minor stolen recovery, but don't worry it's all better now".

Like the thief's gently removed all the parts they needed, and then returned the truck to the owner. Nope, they didn't cut any un-needed wires, or joy ride in it. Nope. They went very easy, and even made sure to remove all the fluids before take that one and only single item they needed, and then left an "I'm sorry" note.

People always make it sound like it's the Insurance's fault for giving it a salvage title.


Problems you may have with the truck:

1. Resale value. Take what you think you can get for it, and now cut that in half.

2. Small market of people willing to buy the truck. Plus, from them, half of them will come to find out that their bank won't finance for a salvage title (or will find they can't put full coverage on it).

3. It's salvage for a reason. No matter the story they give you, it for a reason. You are buying it cheap for a reason. Expect to, and plan for problems you will find down the road .


I'm not trying to be a downer, but trying to let you know it won't be as rosey as you might think. However, you may find it's a good buy for you, but you need to think about the other side of the coin as well.

Me, I won't touch a salvage car. I take that back... I would only buy one if I wanted to make a race car out of it and planned on replacing everything anyways.

Good luck!

 

I appreciate all the info so far! I'm sure there is more to it than the seller is letting on, but I figured it was still worth looking in to. The photos don't look bad, but it's easy to take photos of a different rig or hide things in photos. I'll let you know what I find out.

 

You'd be surprised where those Katrina cars end up.

 

Ask for the V.I.N # and run it through this data base > https://www.nicb.org

It will tell you some interesting things, such as if it was a Hurricane Katrina flood car. Alot of them vehicles have shown up as far away as Washington state.

 

Ran it through the NICB, nothing came up.

 

I would pay for and obtain a Carfax as well.

 

Mine is a flood salvage, that is to say it rolled into the lake while trying to launch a small boat, and other than some minor electrical gremlins, it has been great. window switch, a relay, vacuum pump, window motor. The insurance company had it running before they even put it up for bid. I knew what I was getting, and I don't intend to resell it. I have had it for almost 4 years, and put over 100,000 miles on it. That being said, I dont think I would have bought it if it was a gasser, or had an automatic. I was able to get a bank loan, but only because it was running, and had no major body damage. Whatever you decide, I hope it works out well for you. As with any salvage, it is the luck of the draw.