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The Terminator
Terminator Talk
Would you buy Rebuilt/Salvaged?
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<blockquote data-quote="Corbic" data-source="post: 16484567" data-attributes="member: 171475"><p>Yes and no.</p><p></p><p></p><p>You've been able to insure and finance rebuilt vehicles forever.</p><p></p><p>Some states have whacky laws with the titles and inspections, so always validate that.</p><p></p><p>The catch with insurance and finance however is the branded title does hurt thr value of the car. So be sure to ask them about that.</p><p></p><p> I know USAA for example, a branded title is 15% off bluebook value. So a $20k car, you could only finance a max of $17,000 and if you total it you'd only get $17k.</p><p></p><p>Now mind you, they also will finance 110% Bluebook and cover up too 105% in a payout on a normal title vehicle. So a $20k car you could borrow $22k (to cover taxes, etc) and when you smash it you could get $21k.</p></blockquote><p></p>
[QUOTE="Corbic, post: 16484567, member: 171475"] Yes and no. You've been able to insure and finance rebuilt vehicles forever. Some states have whacky laws with the titles and inspections, so always validate that. The catch with insurance and finance however is the branded title does hurt thr value of the car. So be sure to ask them about that. I know USAA for example, a branded title is 15% off bluebook value. So a $20k car, you could only finance a max of $17,000 and if you total it you'd only get $17k. Now mind you, they also will finance 110% Bluebook and cover up too 105% in a payout on a normal title vehicle. So a $20k car you could borrow $22k (to cover taxes, etc) and when you smash it you could get $21k. [/QUOTE]
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Would you buy Rebuilt/Salvaged?
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