Salvage Title
Joined: May 2007
Posts: 432
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From: chicago
RE: Salvage Title
I used to work for a credit union dealing with Repo and such. In a lot of states you can not cover a rebuilt or salvage title. every state is diff so check it out before you make the call to take the bike back. as for the insurance co. if anything happens to it again you will not get anything for the bike, most insurance co will not cover a loss on a total lossvehicle even if you have rebuildt it to factory spects. check that with your company too, again every state is diff.
If it was me I would keep the bike and use it for racing or stunting and take the rest of the monay and get a new 954you can pick them up on ebay or any local dealership for 4k. and comming in to fall you can prob pick one up cheeper then that.
Just my 2 cents.
If it was me I would keep the bike and use it for racing or stunting and take the rest of the monay and get a new 954you can pick them up on ebay or any local dealership for 4k. and comming in to fall you can prob pick one up cheeper then that.
Just my 2 cents.
Thread Starter
Joined: Aug 2007
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RE: Salvage Title
Thanks everyone for your responses. I appreciate it! I decided to keep the bike, it wont cost me more than 1000 to fix it. Of course, I had not choice of whether to keep the "clean title" because the insurance company decided it was totalled and I could not do anything about it. I am prolly gonna rebuild the title (reconstruct) and ride my bike. It is still in great shape with about a little over 5k miles; again other than the oil pan, only the front fairing broke. This insurance company is a good friend in my mind, hooking me up with 4600 for a bike I only paid 5k and I get to keep my bike! Word! I am feeling that! Again thanks all of you for ur quick response. May be I'll upload pictures when I get everything ready. If I decide to sell it, I'll let yall know! Peace! Ride safe and always wear that gear - even in my low speed crash I'd been f'd up if I did not have my textile Team Michael Jordan jacket on... I only got a shoulder contusion. God is Great!
Senior Member
Joined: Mar 2006
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From:
RE: Salvage Title
take pics of the damage to show to people if/when u decide to sell it....that way they know EXACTLY what was wrong before u fixed it.
also, i knowa family that totalled a car 3 times, and everytime got a decent amount of $ from insurance. bikes are different i know.
also, i knowa family that totalled a car 3 times, and everytime got a decent amount of $ from insurance. bikes are different i know.
Retired Moderator ans All Around Good Guy
Joined: Jun 2006
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RE: Salvage Title
ORIGINAL: ReSpEcT
I dunno, i'd think about this a few different ways, LoL...Your bike as it sits now, how much would it cost YOU to fix it? Keep in mind, your also keeping your bikes title in a CLEAN state....Now, the insurance writes u the check for 6300 and u buy back for 1700. They will in return give u ur bike with a Salvage title (you also pocket 4600).....A salvage title bike can NOT be registered in Louisiana (my state, i dont know about yours). Which means the bike needs to be rebuilt back to factory. everything that is broken needs to be replaced with factory OEM parts, and you need to keep the receipts...After the bike is complete and running again, the bike needs to go through a State inspection through the State Police (not just some inspection station). They will require you to show proof of ALL factory replaced parts. IF the bike passes their inspection, they will issue u paper work to send off and have the bikes title changed from Salvage to Reconstructed. Reconstructed means it was salvaged then rebuilt back to factory specs. Reconstructed also means the bike can be registered and is now street legal.....Now......When u resell the bike with reconstructed title, someone will know right off hand ur bike was wrecked and salvaged at one time. Which mans they will be nervous about forking out the cash (not knowing full extent of damages and if ur lying about how bad it was crashed), so its a little harder to get good money for it (but it can be done)......Now if u keep bike and leave the insurance check alone, pay out ur pocket to fix bike. Keep the clean title and when u sell it. Chances are noone will be able to tell u wrecked it. Which means u will most likely get what ur bike is worth or damn near it.............So u decide, is the 4600 worth going through all the trouble with a Salvage bike. Or is it just easier to keep ur bike clean and handle the business urself....Also keep in mind, when insurance write a check. Your insurance WILL go up every month, because u have a claim on ur policy......IS IT REALLY WORTH IT!!!!!......=-)
I dunno, i'd think about this a few different ways, LoL...Your bike as it sits now, how much would it cost YOU to fix it? Keep in mind, your also keeping your bikes title in a CLEAN state....Now, the insurance writes u the check for 6300 and u buy back for 1700. They will in return give u ur bike with a Salvage title (you also pocket 4600).....A salvage title bike can NOT be registered in Louisiana (my state, i dont know about yours). Which means the bike needs to be rebuilt back to factory. everything that is broken needs to be replaced with factory OEM parts, and you need to keep the receipts...After the bike is complete and running again, the bike needs to go through a State inspection through the State Police (not just some inspection station). They will require you to show proof of ALL factory replaced parts. IF the bike passes their inspection, they will issue u paper work to send off and have the bikes title changed from Salvage to Reconstructed. Reconstructed means it was salvaged then rebuilt back to factory specs. Reconstructed also means the bike can be registered and is now street legal.....Now......When u resell the bike with reconstructed title, someone will know right off hand ur bike was wrecked and salvaged at one time. Which mans they will be nervous about forking out the cash (not knowing full extent of damages and if ur lying about how bad it was crashed), so its a little harder to get good money for it (but it can be done)......Now if u keep bike and leave the insurance check alone, pay out ur pocket to fix bike. Keep the clean title and when u sell it. Chances are noone will be able to tell u wrecked it. Which means u will most likely get what ur bike is worth or damn near it.............So u decide, is the 4600 worth going through all the trouble with a Salvage bike. Or is it just easier to keep ur bike clean and handle the business urself....Also keep in mind, when insurance write a check. Your insurance WILL go up every month, because u have a claim on ur policy......IS IT REALLY WORTH IT!!!!!......=-)
Senior Member
Joined: Sep 2007
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RE: Salvage Title
ORIGINAL: HAVOC
ok but what your saying in your state atleast is that if a bike is salvaged out and it must be rebuilt using all oem parts and pass a state police inspection then why would anyone have to worry about buying that bike.. it obviously has been rebuilt and have the receipts to prove it along with it passing a stste (not just some hole in the wall place) inspection.. sounds like they would be confident in knowing that bike may have been wrecked but is all good now
ok but what your saying in your state atleast is that if a bike is salvaged out and it must be rebuilt using all oem parts and pass a state police inspection then why would anyone have to worry about buying that bike.. it obviously has been rebuilt and have the receipts to prove it along with it passing a stste (not just some hole in the wall place) inspection.. sounds like they would be confident in knowing that bike may have been wrecked but is all good now
Retired Moderator ans All Around Good Guy
Joined: Jun 2006
Posts: 4,859
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RE: Salvage Title
yea i understand what you mean .. almost all my bikes have had salvaged title and they were awesome machines... i wouldnt say i perfer a salvaged title but they are the best deals because people pass on them so quickly and dismiss the very idea of owning it . there are plenty of "clean" title bikes on the road that shouldnt be "clean" title just because their accident was never reported and was rebuilt and sold off as "perfect condition"
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