QuestionHello, i have the opportunity to buy a 92 ford explorer at a great price, however it has been wreaked and has a rebuilt sticker. Not sure if a good deal and also i was told the laws may be changing in 2010 on ability to title rebuilds???? Can u help?
AnswerHi Beverly,
Unless there is a specific Tennessee state law in the works, I don't think you have anything to worry about. I haven't heard anything about titling changes for salvage vehicles; even if there were changes, it's unlikely they would affect you, since you would already have the vehicle registered.
Buying a vehicle with a rebuilt or a salvage title can be hit or miss. Being an older vehicle, you are safer. For example, vehicles are declared salvage when the repair estimate exceeds 70-75 percent of the value. It doesn't take much damage to total out an older vehicle, meaning it is likely to have received only minor to moderate damage.
With that being said, have the vehicle thoroughly inspected. Try to find out the extent of the damage. Is it a flood vehicle? Were the airbags deployed? Was the frame damaged? If so, your safety may be compromised. Getting a good deal is never worth compromising your safety. However, being an older vehicle of limited value, it may be possible it was declared salvage by a minor fender bender.
Just have it checked out thoroughly. Keep in mind salvage vehicles are usually worth about 50 percent less than non-salvage vehicles. Use NADA and KBB as a general guide.
