rebuilt title ??? define

what does REBUILT title mean ? , I assume a vehicle has been wrecked beyond standing value to repair , therefore TOTALED , is sold cheap and a shop rebuilds the vehicle to running status and sells to recoup their work expense , does this mark dramatically effect the resale value ?

(quoted from post at 18:39:17 10/28/15) what does REBUILT title mean ? , I assume a vehicle has been wrecked beyond standing value to repair , therefore TOTALED , is sold cheap and a shop rebuilds the vehicle to running status and sells to recoup their work expense , does this mark dramatically effect the resale value ?

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The way I understand it, different states have different rules for a rebuilt title. Some states put a rebuilt title on a vehicle with as little as $1200 in repairs. Someone else should have more information.

You are somewhat right. Usually, after the insurance pays off, if the value is close to the payoff, the insurance company takes the title and
as a replacement you get a salvage title. You then repair the vehicle and have it inspected by the state and show all your receipts for
repair parts and if you are lucky, you get a rebuilt title and then can license the vehicle. The problem is, some older cars, parts are so
expensive, that it don't take much damage to produce a total. Some cars if the airbags deploy, they are so expensive that alone can cost as
much as the car is worth to replace. I have seen minor damage total a vehicle due to the price of parts and labor.

An R title shouldn't effect resale value, although it might scare off some buyers.

In illinois, a rebuilt is issued whan a salvage title is converted to an active title. A salvage title can be issued for many reasons ie abandoned vehicle, theft recovery, collision total loss, comprehensive loss, ie, hail, fire, tree fell on it ect. Even a police impound vehicle.

If you are thinking about buying a rebuilt title car make sure you can find someone that will insure it before you buy it.
This is especially true if you borrow the money to buy it and will be forced to carry full coverage to cover the loan.

Insurance co when writing off a vehicle (total loss) and paying off the insured, must submit said title to the state and it is re-issued as a salvage title (not legal for road use). Vehicle is then auctioned off and could be parted out or bought to re-build. If rebuilt, new owner must have a state appointed inspector complete a recertification of title after inspection for safety and reciepts for parts (to prevent cars from being stolen to sell parts) Then new owner sends recertification and salvege title in to state and recieves a title with either "rebuilt" on it or " previously issued a salvage title" typed on it. Any loan institution and/or insurance co that doesn't factor the loss of initial value in is a fool. Loan and settlement values are always based on actual sales records or "book value" of all "rebuilt" vehicles sold and not "all" vehicles. I built them and sold them for 20 yrs. Got out of it for all reasons listed above. Not to mention the harassment from inspecting officers who didn't think it was becoming of them to have to do this. I've had a lot of cars/trucks that I couldn't have afforded any other way . Now-a-days I just don't see the profit margin and you had better plan on driving the wheels off it before selling to come out financially. Build just one and sell it and have someones daughter have an accident in which the air bag fails to deploy and causes more injuries and/or death, and I don't envy you. Basically you "own" that vehicle and any of it's safety related problems forever.