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Thread: What does Salvage Title Theft Recovery really mean??

  1. #1
    Snap, Crackle, Pop.... Johnny B's Avatar
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    What does Salvage Title Theft Recovery really mean??

    I have heard it means when the repairs are more than the cars worth so it is salvaged....Is this true?

    But I just say a 2001 Integra Type R for sale with a salvage title "Theft Recovery".......

    Some people even say Salvage title Theft Recovery and No accidents..??...Is that BS??
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    Registered User ReVenGe's Avatar
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    well... my car is an insurance salvage. what hapened is that the car was "totaled" (dmg to car was more $ than vehicle worth) and then givin to the insurance company, who gave it to one of its workers, who then fixed them and auctions them off....

    then only differnce to me was that it took longer to get it registered cause the pin had to be re-entered into the system or something

    hence my weird license plate
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    DeeCeeFo' honda_pilot's Avatar
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    Parts of your info is correct. It is what happens when a vehicle's repairs are deemed too expensive to prove either profitable in the future, or the costs outweigh the vehicles current value. "Salvage Title" is a very generic naming to this status if you will, the specifics such as "Theft Recovery"; "Flood Damaged"; etc. tell another story.

    So you see this Salvage Titled ITR is so because it was stolen and/or broken into, and the cost of replacing/fixing it was too much. A car becomes "reconstructed" after it passes a rigorous inspection at a certified mechanics garage. There is a lot of paperwork involved and hence it is often times a difficult procedure re-registering them. Lots of times cars like these are actually auctioned off or given to salvage yards. Which in turn try to sell these cars for ridiculously low amounts of money, enough to just make a profit, to people who want s newer or nicer car who would otherwise be unable to afford one. They buy the car, damaged as it may be and pay for parts and repair. Almost always this method is a much cheaper method to obtain an otherwise more expensive vehicle.

    This ofcourse has obvious pros, but IMO the cons outweigh them. Resale on vehicles such as these is just about the greatest headache imaginable. If one were to try and sell the reconstructed car for a clean VIN price without disclosing the titles status it would be considered a con, and otherwise a reconstructed vehicle cannot sell for market value and most likely the only way to sell would be to lower the price so much you'd actually lose money on the entire ordeal.
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    Snap, Crackle, Pop.... Johnny B's Avatar
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    I also heard that if the car was stolen and missing for over 30 days the owner would get paid out the cars value from the insurance company.

    But if it is recovered after the 30 days it would be considered a salvage title from theft and the insurance company then auctions it off as salvage.

    Is that true?
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  6. #6
    integra fs ls_101's Avatar
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    yes, but the car usually has to have stuff removed by the thief to be considered stolen, my friends car was stollen, thats what happened when my friends lude was stolen
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    Your Powder Coater Running925's Avatar
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    It means that Someone jacked your ryde, stole your shit, & beat the **** out of it by ralley racing it through the woods.. and when it's finally recovered.. the Insurance company goes. "holy crap, thats a car?"

    (experienced.. my first car was jacked from my driveway in the middle of the night)
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    I'm made of meat! Jafro's Avatar
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    Being a Type R, I can guarantee you that it was stolen rather than wrecked. If it were an LS, I'd say it was wrecked.
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    Rotorphile. Kai's Avatar
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    I seriously see as many ITR's for sale as a theft recovery car as I do a clean title car. Damn theives.

    If it is a theft recovery, you better check under the hood to see if it still has a B18C5 in there. Some cheap people/places will rebuild them with B18C's, B16A's, even B18B's.
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    DeeCeeFo' honda_pilot's Avatar
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    Quote Originally Posted by Kai
    I seriously see as many ITR's for sale as a theft recovery car as I do a clean title car. Damn theives.

    If it is a theft recovery, you better check under the hood to see if it still has a B18C5 in there. Some cheap people/places will rebuild them with B18C's, B16A's, even B18B's.
    Good point
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    Snap, Crackle, Pop.... Johnny B's Avatar
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    Oh yah, I will go through the car thoroughly up and down......Underneath everything.

    To see if the subframe or inner fenders show marks from being straightened from an accident. The engine code...Everything. I don't trust anyone.
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    Senior Member Josh M's Avatar
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    Depends a little bit on what state its coming from. I dunno how it is anymore but when I was 16 I wanted a sports car, but obviously at that age you don't have a lot of money so I got one with a Texas Salvage certificate. Texas had something like more than 25% of the vehicle worth it was junked. All I had to do was replace the hood, a fender, and a wheel, and get it aligned and it was fine...........If I had a choice of salvage titles I'd want a repo or one that just had stuff stolen from it. I'm actually looking for a car right now with a salvage title that has no engine and no interior so I can do that all how I want to do it
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    I also heard that if the car was stolen and missing for over 30 days the owner would get paid out the cars value from the insurance company.

    But if it is recovered after the 30 days it would be considered a salvage title from theft and the insurance company then auctions it off as salvage.

    Is that true?
    i was also wondering about this. i'm still making payments on my car i bought in January of 2003. what if, my ride was stolen, and then recovered within the 30 days with shit missing and it's considered salvage title; would i still get paid out of the cars' value??

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    I'm made of meat! Jafro's Avatar
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    Quote Originally Posted by sxng9
    i was also wondering about this. i'm still making payments on my car i bought in January of 2003. what if, my ride was stolen, and then recovered within the 30 days with shit missing and it's considered salvage title; would i still get paid out of the cars' value??
    It depends on what you owe on it versus what its book value is. If the book value is less than you owe on it, and you don't have something called "gap insurance" then you'll get busted in the ass and wind up owing the difference. If your book value is more than you owe, then you're fine.

    But the worst part is that your insurance premiums will go way up. It's not your fault if it gets stolen, and it's not your insurance company's fault, either. So unless they catch the fuggers red-handed, you will wind up paying for that car in the long run in insurance premium hikes. So in any case, you don't ever want your car stolen. The insurance company will consider you a risk from that day forward. It won't matter how clean your driving record ever is. The history of your car being stolen will be on your "CLU report" for the rest of your life, and any insurer will quote your policy accordingly, and it's completely legal for them to do so.

    Hope that helps.
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    NASA-VA Hyper-Announcer Solracer's Avatar
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    The biggest thing about a salvage title is that the car will never be worth anything near its orginal value, even if it was all just cosmetic damage from a theft or wreck. Also some banks will not give out loans on salvage titled cars.
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