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Old 10-16-2008, 12:02 PM   #1
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Salvage Title

Whats the biggest difference between this kind of title

i hear the only difference is you cant have full coverage?
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Old 10-16-2008, 12:04 PM   #2
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Old 10-16-2008, 12:07 PM   #3
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Value of the Bike you cannot sell if for as much as a nonsalvage tittle Duh

A salvage title is an automobile title with a notation that the vehicle has been damaged in excess of approximately 70% of its previous market value. This notation gets applied to a title when an insurance company pays a total-loss claim on a vehicle, but then allows the owner to retain or buy back the vehicle at its post-damage market value, which is often negligibly low. Often a vehicle is still safely driveable even if technically considered a total loss by an insurance company, particularly with older vehicles where even minor cosmetic damage would cost more to fix than the vehicle's original market value.

A junk title is a similar notation to a salvage title, but generally indicates that the vehicle is not roadworthy.

A rebuilt vehicle is a salvage vehicle that has been repaired and restored to operation. These vehicles are often severely damaged before they are rebuilt and refurbished parts are typically used during reconstruction. In most states, an inspection of the vehicle is required before the vehicle is allowed to return to the road.
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Old 10-16-2008, 12:17 PM   #4
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Old 10-16-2008, 12:52 PM   #5
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Quote:
Originally Posted by NoFear View Post
Value of the Bike you cannot sell if for as much as a nonsalvage tittle Duh

A salvage title is an automobile title with a notation that the vehicle has been damaged in excess of approximately 70% of its previous market value. This notation gets applied to a title when an insurance company pays a total-loss claim on a vehicle, but then allows the owner to retain or buy back the vehicle at its post-damage market value, which is often negligibly low. Often a vehicle is still safely driveable even if technically considered a total loss by an insurance company, particularly with older vehicles where even minor cosmetic damage would cost more to fix than the vehicle's original market value.

A junk title is a similar notation to a salvage title, but generally indicates that the vehicle is not roadworthy.

A rebuilt vehicle is a salvage vehicle that has been repaired and restored to operation. These vehicles are often severely damaged before they are rebuilt and refurbished parts are typically used during reconstruction. In most states, an inspection of the vehicle is required before the vehicle is allowed to return to the road.
That differs. It depends on what state it was titled in when it was totaled. I believe it ranges from 40-75% of the value.
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Old 10-16-2008, 12:52 PM   #6
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Old 10-16-2008, 12:53 PM   #7
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Quote:
Originally Posted by k5gsxrman View Post
1.they are different colors
2.one is a salvage and the other is regular title
3.one implies that you were begining to stunt and then looped the bike like Terrance lol
4.it hard to reregister a salvage bike
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Old 10-16-2008, 01:00 PM   #8
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They are not necessarily different colors.
Many people say salvage titles are red. I could be mistaken but I believe a red title means there is some sort of legal restriction on the vehicle, such as a lien.

They just have the word salvage printed on them.
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Old 10-16-2008, 01:13 PM   #9
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Quote:
Originally Posted by k5gsxrman View Post
1.they are different colors
2.one is a salvage and the other is regular title
3.one implies that you were begining to stunt and then looped the bike like Terrance lol
4.it hard to reregister a salvage bike
1) they are different colors in some states. Not in others. Some states don't issue salvage titles. Some states don't issue junk titles. May not apply if it is a TX title but I'm just saying, don't go out in the world thinking that all salvage titles are different colors. Once you get an R title issued they look just like a normal title only they say "rebuilt" on them.

2) obviously.. but really the only different between the actual bikes is normally the insurance branding it. If someone had liability ins only and took their GIX out and bent it around a post, then bondo'd up the fairings and sold it, it would have a clear title. If someone dropped a bike and cosmetically damaged it to exceed a certain percentage of the bike, it would have a salvage title.

3) if its a new bike and you damage the side fairing, front fairing, tail fairing, break the mirror, dent the tank, you probably just totalled it. So it doesn't mean someone looped it. Could have just lowsided. I've bought salvage title bikes that passed state inspeciton as is.

4) Its relatively easy to re-register a salvage title bike. It depends on the state it and you are in, but normally you just have to get it inspected and pay your taxes on it. Call the DOT they will walk you through it.

Oh, and by the way, you should know that some states don't have R titles, so if the title was transferred to one of those states and back into TX, it would eliminate the salvage or the R title branding... its calling "title washing." thats what carfax is for. You should also know that some states dont recognize R titles and require any rebuilt vehicle to pass its own advanced inspection before they will allow it to be registered in that state. I just sold an R title bike to a man in PA who complained about this to me (I was not aware of this).
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Old 10-16-2008, 01:13 PM   #10
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most salvage titles are red
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Old 10-16-2008, 02:02 PM   #11
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in texas salvage title will turn into a blue title, it just says rebuilt on it.
banks wont finance a salvage title bike
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Old 10-16-2008, 02:29 PM   #12
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In NY, the VIN on a rebuilt title has a letter at the end. Does it work that way here?

I assume from the above post that to be totaled in TX, the damage must reach 70% of the value? (50% in NY).

How hard is it to re-register a rebuilt car in TX? Is the inspection tough?
In NY, you need every receipt for EVERY part used to repair the car. If they are used parts, they go back and run the VIN to ensure the parts arent stolen. I have heard stories of cars taking 3 days to pass the state inspection.
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Old 10-16-2008, 03:14 PM   #13
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Quote:
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most salvage titles are red
I have a salvage title for my track bike that is blue. It looks the same as a regular title but has "salvage" written on it.
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Old 10-16-2008, 03:28 PM   #14
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is it true that you can only get liability on a salvage titled bike
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Old 10-16-2008, 03:48 PM   #15
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Quote:
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is it true that you can only get liability on a salvage titled bike

no
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Old 10-16-2008, 03:53 PM   #16
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so you can get full coverage, but I assume that you would not be fully covered in the event of an accident since the bike's worth is not greatly diminished in the eyes of the insurance adjusters?
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Old 10-16-2008, 03:53 PM   #17
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I dont think you understand... salvage means you can't get it registered. A salvage title is just issued for the transfer of the paperwork. You have to get it street legal and inspected and get a rebuilt title before you can get it registered. So salvage title means you can't drive it. So insurance is the least of your worries.

Some insurance companies won't let you get full coverage on vehicles that have had a salvage title. My friend's nationwide office would not.
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Old 10-16-2008, 03:54 PM   #18
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so if I buy a bike w/a salvage title I have to get it inspected and then fight to get a rebuilt title just to get it registered before I can LEGALLY ride around the streets?
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Old 10-16-2008, 03:57 PM   #19
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yeah thats what they told me when I had one. And I've gone through the process in other states too.

Its not HARD... its just sometimes difficult to find out what you need to do to get it legal. Call DOT and ask em before you buy the bike. Either that or if it looks like it should be street legal tell the seller you'll buy it if he gets it registered. Make him do it.
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Old 10-16-2008, 04:02 PM   #20
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wow, thanx for the heads up....was looking at a bike w/a salvage title....my offering price just dropped drastically
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