Buying / selling vehicles...

[heavyhitter1k]

So my father-in-law and I are looking to buy / sell (ie flip) cars and probably more specifically motorcycles. The ones we are looking at are theft recoveries etc.

My question is this: How does the title status (Clean, salvage, rebuilt, etc) effect resale? I know that a salvage or rebuild title makes the value go down, but how much LESS desirable would it be to the average consumer? Theft recovery vehicles are basically just new ignition etc and they are good to go, the title status is just not perfect.

Also, how do most insurance companies view these? Can someone still get full / partial insurance to cover vehicles with a less than perfect title status?

Thanks!

 

[phylodog]

I believe insurance companies will limit the coverage they will allow on salvage or rebuilt titles. Financing may be more difficult to obtain for them also.

You'll want to keep these things in mind also: Indiana Auto Dealer Licensing Requirements at DMV.org: The DMV Made Simple

 

[Whitsettd8]

I had a salvage title on my GSXR 1000 and it was a flipping nightmare to get it titled and licensed at the BMV.
As far as my opinion goes I'll buy a salvage title as long as I can tell everything was fixed properly but your price better reflect it. I would think somewhere around trade in to lower private party value.

 

[heavyhitter1k]

Pricing WOULD reflect title status. For example I could have bought a 2010 sportbike (that is consider high on the sought out list) for around $2200. Book was $9k+ for private party sale. So even if I was in it for $4k, and sold for $5-6k, I'd be happy. Seems like there is money to be made.....idk

 

[mcolford]

Had a buddy that flipped a lot of cars back in the day... Seemed like a headache, and Im sure he had more than a couple problems along the way as far as titles, etc...

Side note, I personally, wont own a vehicle unless its a clear and good title. Too many *******s that think they can fix anything (especially on bikes).. Makes me too nervous.

 

[heavyhitter1k]

Had a buddy that flipped a lot of cars back in the day... Seemed like a headache, and Im sure he had more than a couple problems along the way as far as titles, etc...

Side note, I personally, wont own a vehicle unless its a clear and good title. Too many *******s that think they can fix anything (especially on bikes).. Makes me too nervous.

Understandably so. I know I have been burnt on 2-3 bikes personally due to seller's not being TOTALLY honest and forthcoming. It just seems like there is some middle room to make a few bucks. Slinging parts and service isn't generating much side business for me when most guys THINK they can turn a wrench themselves, and some can very well.

 

[mcolford]

By no means am I trying to discourage you. I mean if you can do this legit, and its something you love, then by all means, chase that dream. Just shedding what little knowledge I have seen, and personal preference.

 

[danmdevries]

There's more money in buying salvage/junk/classic/collectable bikes and stripping for parts.

Indiana is a horrible state for dealing with title issues.