Found an 02 with 74000 mi for 8500 with salvage title, I know its not the best deal out there but I dont have too much time to look for one.

My question is if I purchase the car and have it insured for liability, and was involved in an accident where the other person was at fault, lets say the s2k was totaled, how much would the other person's insurance payout for the car? the kbb for the 02 is around 11k for clean title one, so would they give me 5-6k for the car?

Im asking because my dad bought a tercel for $300 with a total loss title but was still drivable. He was hit by another car and the tercel was totaled. The person's insurance paid my dad $2500 for the tercel. I am so confused by this...

 

99% sure most insurance companies won't insure a savlage title car.

$8500 is way too much.

Where are you located/what is your zip code?

 

I thought salvage title cars can be insured but only for liability in CA, not exactly sure tho

Im located in Los Angeles, CA 91730. Ive been checking craigs every single day and cant find an ap1 for under 9k unless it is salvage title...

 

FWIW, the difference between an $8k S2000 and a $10k S2000 is huge. I would wait and save more.

 

My car had a salvage title and I have progressive liability insurance. I think any large insurance company will cover salvage title cars.

I think $8.5 is not so bad if the car drive straight and has no problems. I bought my 01 with 55k supercharged for $11.3 back in the summer.

When i registered my car, they taxed me for $6,800 so im thinking the insurance company do the same way, look up the value of the car under salvage title and give you that amount. so probably a 50-60% value of a clean title car.

 

It depends on your state laws and your insurance company. In MA you can't register a salvage car. It has to have a rebuilt title before you can get it registered and insured. Banks and insurance companies treat rebuilt titles like a clean title. You have no trouble getting a loan and the insurance co. will pay out the KBB value if you total the car (again).

Your state and your insurance company may be different. You should ask them.

$8500 may be a fair price depending on the previous damage and quality of the repair as well as the condition of the rest of the car. But no one on here can say 'yes, its worth it' or 'no, its not worth it' without seeing the car first.

Pete

 

Yep! Patience.

 

i bought my salvage 01 with 39k miles for 7500 about 6 months ago. i'm in colorado and american family has no problem insuring it for me. and they will pay the regular amount for the car if something happens to it, not some discounted salvage price or whatever.

also, my bro got an 01 clean title with 98k miles for 8k, so it just depends on how long you wait and what you want. i frankly don't care about salvage title as long as everything's still good...

 

There is no problem insuring salvage title cars. FYI I would find a cheaper S2K if you're looking the salvage route. You can find AP1's in the $7K range.

I sold my Salvage 02 with 85K miles for $8900 although it was in great shape.

 

thanks for everyones repiles,
Im planning on waiting to find a clean title one, but also Im going to pay a visit to my insurance and find out more info about salvage title cars in my state. Im hoping that they pay the regular amount if its totaled like theblackpearl said lol, but I doubt that they will do that in CA