Been coming across a lot of bikes on Craigslist here in Honolulu with "salvage" title..... Some say only cosmetic issues, scratched fairings etc.
My questions
1. Would an insurance co really salvage a title for cosmetics?
2. If a title has been salvaged...the bike has needs to be re certified to be sold & does the reason have to be stated on title & or paperwork?
3. Lastly how much of average does a Salvage title devalue a bike?
Thanks all....& any other input appreciated!!!
Quote from: 118811 on November 17, 2012, 05:08:42 PM
Been coming across a lot of bikes on Craigslist here in Honolulu with "salvage" title..... Some say only cosmetic issues, scratched fairings etc.
My questions
1. Would an insurance co really salvage a title for cosmetics?
Yes, but don't be fooled, there may be hidden damage.
2. If a title has been salvaged...the bike has needs to be re certified to be sold & does the reason have to be stated on title & or paperwork?
Each state has it's own rules. The requirements for for getting a reconstructed title differ from state to state.
3. Lastly how much of average does a Salvage title devalue a bike?
Local markets rule, but I would say spend no more than half retail value. Collision and comprehensive insurance might also be a problem.
Thanks all....& any other input appreciated!!!
Thanks for the education Howie... [thumbsup]
Call your insurance company and ask them about insuring a bike with a salvage title. I know in S.C, State Farm will provide full coverage for a salvage title vehicle. I would not even have to get the title "cleaned up", though it would not be worth much to any perspective buyer down the road...
Here: http://www.ducatimonsterforum.org/index.php?topic=59435.0 (http://www.ducatimonsterforum.org/index.php?topic=59435.0)