Why salvaged title?

i recently bought a tacoma which appears to be in great shape, but the dealer said it has a salvaged title, yet gave me no info why... can anyone help me with a vin# search??? the vin # is 4TAVN73K8SZ069400. thanks.

 

Salvage title can be for several reasons, first and foremost an accident where the damage exceeded the value, then repaired, or, like mine, it was stolen, had some minor front end damage, very minor, again a total then buyback, EZ fix....

Could also be water damage total...

 

You need to ask @sente3, he's the man!

 

I'm on it. Should get the report tomorrow or so.

Yeah there is a lot that can contribute to a salvage title. As you said, it can be minor things that happen to be pricey and total the car or a huge problem that actually ruined it. Also, totalling is a finicky thing. It's not unheard of that insurance companies will go to a shop that is known to be pricey if the reasonable repair costs is close to the cost of the vehicle. That way, they can pay out for a car and not have a now-further "risky" car on their policy, or for some more convoluted financial reason. So sometimes a vehicle gets totaled unfairly, then the owner buys it back with a salvage title.

 

Here it is. Interestingly enough, it doesn't show anything about a salvage title, let alone a reason for it. It does, however, state it was listed as Excluded/Exempt. Does WA have any weight/other limitations on titling? IIRC, some states don't require registration or some other DMV stuff after a certain age or if they meet other certain criteria. Or it could be that Toyota bought it back. I may be mistaken, but I believe if a vehicle is bought back by the manufacturer, then it gets excluded/exempt. If it was indeed salvaged, and the dealer you're buying from is a Toyota one, perhaps they are related.

https://www.diigo.com/item/pdf/5gt7b/78is?k=b6b631741e0e77bb1af2fe2679d8a8fc

 

intersting, thanks for taking the time to look it up for me. i'm going to contact the dmv and pester them about it. it sucks that the title is branded "salvaged" for no reason.

 

Just Curious why does having a Salvage Title bother so many??

Most All my vehicles are .

 

Often times, a salvaged vehicle has had some serious damage. Like a major collision or water damage. And those can lead to bigger issues such as unnoticed frame damage or dormant electrical issues, respectively. In general, salvage vehicles are a much bigger risk. But if you have good insight into what the cause was for the salvage, and you are okay with the condition as well as risks, you can usually get a salvage vehicle for much less. It's a gamble.

 

Most of mine were salvage too. I just want to take a minute to thank all you people who wreck their trucks and let me buy them and put then back together.

 

Well I am going to do my best to make sure my truck does not end up being one of yours then...

 

Me too!
I buy junkheaps and make em awesome again. Most I've ever paid for a vehicle was $300. It's not just about the money for me though. I enjoy the experience of fixin something that nobody else would.

 

I personally have no issue with salvage in many situations. But there are a couple of significant things to consider if you are considering buying a salvage title.

1) some insurance carriers will not insure a salvage titled vehicle. Make sure the one you want to use will provide the coverage you want

2) salvage titled vehicles typically are worth 1/2 to maybe 3/4 of their non salvaged peer. So @sincity73, hopefully you got a great buy. If you paid close to normal retail for what you bought, you might want to be considering options other than more K-Y.

 

Both are excellent points. I usually make sure I mention at least the first one. I'd forgotten, so thank you. It's a fairly major factor that a lot of people never account for, as most people seem to not know about this.

 

Those are very good and valid points. Hopefully OP got it for a steal, and plans to keep it. One reason I don't mind a salvage title is that I don't care about resale value, because I keep things until they die, and then they sit in my back yard, because eventually, I'll revive em. I don't sell. (Except my first car, got rid of that. It burnt up. Totally unsalvageable.) That's one of my rules I tell people that consider buying salvage- if you're worried about resale value because you plan to sell it down the road, don't do it. If you intend to drive it til the wheels fall off, go for it.

 

Also be aware, many banks will not loan money for a salvage vehicle. Yes, the points listed above must be taken into account.

 

Then different states have different rules .

Then we also have reconstructed titles .

It is just a paper work government thing .

It gets bought on a Salvage title one waves the magic wand says a few words .

Gets it inspected pays the proper bribes or rather donates to a foundation fund

A few weeks later the reconstructed title shows up after only getting lost a few times in the mail

 

In my state, all that gets checked is horn, wipers and washer fluid, horn and crack free windshield. Air bags don't even need to function. Crazy easy.

$50 for inspection to also check its not stolen.

 

i'm happy with what i got, but like clearwater bill said, the problem is insurance. i found one that would cover me but its pricy.

 

Interesting all my insurance agent ever asks for then is the VIN

I could see if your insurance is for full coverage for a 2017 then they might be a little picky

I never even thought about a Bank I never had any loans for vehicles