About any time an insurance company figures repairs will exceed the
book value, they write it off as totaled and off it goes to salvage.
Often, the owner turns around and buys it back for the salvage value
directly from the insurance company. My own father has done that a
number of times.
It could also be that the owner had no idea of the value, and didn't
have the funds to put into repairs (like an engine overhaul) and had
it hauled to a wrecking yard. lady I know was going to do that with a
'68 Mustang. When I told her what it might be worth if it was
restored, she reconsidered and is in the process of restoring it
herself.
Anyway, it could have been in salvage for a week, or decade, or 30
years. How long it sat, especially the older cars because they were
prone to rust, can make a big difference, as can where it sat...
Nevada desert, snow belt, SE humidity, or salt air?
Remember that many of the old cars you see restored to become show
pieces and command top dollar, were found in barns and fields, etc,
where they sat for decades. There is little difference between sitting
in a field for 40 years where the license expired and was never
renewed; or it was placed into "non-op" status"; and sitting in a
salvage yard.
Many buyers do not care about a car's history They only care about
it's present condition. They don't care that road salt ate the entire
floor pan and it had to be replaced. It's covered with carpet. Who is
gonna see it? There are some who will back off, but most won't as long
as any restoration work was done properly.
Your friend might consider getting the car inspected and appraised. It
will cost a few bucks, but it's something which can be presented to
prospective buyers to help take away any fears they might have. That's
what I did with a 66 FB I sold a couple of years ago. With those done,
the deal was closed "sight unseen" (they did get to see photos with
the report).
On 25 Jul 2005 21:01:43 -0700,
casteele95thbgheavy@yahoo.com wrote:
>Have a friend with a 66 Mustang in very good to excellent condition
>(restored, I think) but the title -- this is in California, if that
>makes any difference -- has "Salvage" on it. He wants to sell the car,
>and is concerned about the 'salvage' thing. What impact does that have
>and, if a negative one, is there any way around it? What impact does
>'salvage' have on the value of the car.
>
>Thanks!
>
>Christopher A. Steele
Spike
1965 Ford Mustang fastback 2+2 A Code 289 C4 Trac-Lok
Vintage Burgundy w/Black Standard Interior; Vintage 40
16" rims w/BF Goodrich Comp T/A gForce Radial
225/50ZR16 KDWS skins; surround sound audio-video.
"When the time comes to lay down my life for my country,
I do not cower from this responsibility. I welcome it."
-JFK Inaugural Address
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