Come look at this! Are you shopping on your lunch break? They joke about girls having a $1,000 lunch
break shopping for shoes online. This looks more like a $15,000 lunch break. I’m looking
for another car. Whoa, look at this great deal! Whoa is right. It’s a rebuilt title. What’s wrong with that? Should I buy a car
with a rebuilt title? Cars can have salvage titles, AKA rebuilt
titles, for lots of reasons. It may have been wrecked in an accident. It may have had water
damage. It might have been reported stolen. But a salvage title means someone declared
it a total loss. It isn’t a total loss. The car is right there.
And look at the price. It’s cheap — Rebuilt cars are much cheaper than other cars,
because they have far less value. Rebuilt or salvage titles mean at one time, someone
said the car lost 3/4 of its value or more. And rebuilt titles mean your car insurance
rates will be higher. If the car has a mechanical failure or is in an accident, the insurer
may not reimburse you as much or cover the damage. I don’t know if I can afford a conventional
car. You just have to go in with your eyes open.
Is a cheaper car worth the risk of major repairs in the future, higher insurance premiums and
a lower resale value? I plan on driving this car until the wheels
fall off. Then you could consider a salvage title vehicle.
But you need to research the car’s history. Something rebuilt from a wreck is a maybe,
but you’ll always want to have the rebuilt car inspected by a mechanic before you buy
it. And don’t rely on their mechanic to tell you the problems, because they’ll always understate
the problem. Do you think they’ll lie about what’s wrong? Not as much as some dealers. At least this
dealer is listing the car as a rebuilt title, instead of trying to pass it off as a perfectly
good car. But you want to get a car history report and mechanic inspection in any case. Should I buy a car with a rebuilt title? If your insurer will insure it, you can afford
the insurance rates, get a good inspection by a third party and are willing to take the
risk — yes, you should. You’re making me concerned about it. If you know what needs to be done and get
all of the necessary checks done, you could get a dirt cheap vehicle that wasn’t ruined
in Hurricane Sandy. So go check it out, but go with your eyes open.