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I'm looking at a '94 Honda Nighthawk 1100 with 18K miles that's in good shape. The only strange thing is it has a salvage title. I spoke with the owner this morning on the phone and he said it hasn't been wrecked or anything. I'm not sure why it doesn't have a clear title, but it runs strong and the price is right.
Can anyone give me a ballpark guess as to what the insurance might be on a salvage titled bike? I've heard it can be way more expensive.
Posts: 5462 | Registered: Apr 2005
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posted
I don't think you can get it registered and insured, I think you have to do the work to get the title cleared first, or within a short amount of time. Which would be why the price is right. Although I'm not entirely sure on that, and it may differ from state to state. Still, I'd find out first if I were you.
Posts: 7954 | Registered: Mar 2004
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Salvage title vehicles are indeed more expensive to insure. It only needs to have been in an accident (you'd be surprised what qualifies) to earn a salvage title.
You should be able to get it both registered and insured with that title, though.
Posts: 4313 | Registered: Sep 2004
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quote:Definition of a Salvage Vehicle by The LOUISIANA DEPARTMENT OF PUBLIC SAFETY OFFICE OF MOTOR VEHICLES: After a vehicle has been salvaged (75% or more of the retail value as determined by the current NADA book) or dismantled, the vehicle must be rebuilt or restored, before the vehicle can be registered to operate on the highways. A title must be issued with the brand of "reconstructed."
All the definitions I found, for all states, said that the damage had to be at least 75% of the value, so not just in an accident. (Some states also give salvage titles to vehicles that have been stolen, but not LA.)
Posts: 7954 | Registered: Mar 2004
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Be aware, some states don't make a lot of distinctions about what they use the salvage "brand" for. (It's called title 'branding' btw). There are several states for which the salvage brand is used for any vehicle that the insurance company has written off. It was stolen and the insurance company paid off the original owner -- salvage. It was crushed by a cement mixer -- salvage. It sustained more damage than the insurance company was willing to pay to repair -- salvage. It was underwater, cut in half, made from a frame purchased at a junk yard -- salvage.
My advice...check with your DMV to see what the rules are. Find out where the salvage title is from first. You might need to clear the title first in that state and then get it titled in yoru state, for example.
then start asking questions. Not just "was it in a wreck" but exactly WHY has it got a salvage title. And ask for the reports from the insurance or whatever they can give you to back up the claim.
If it was stolen and recovered, that may be just fine, actually. As long as the state truly has it recorded as such, you'll probably be able to title it without too much difficulty.
Anyway...your last step before buying it. Find out where, in your local area, the really picky people (like police departments) take their bikes for repair. Have the bike brought there by the current owner for a thorough going over. Tell the mechanic it's got a salvage title and you want to have everything checked. Welds on the frame, evidence of it being under water? whatever they can think of.
Seriously -- be VERY skeptical. If it checks out, no problem. But you don't want a bike that's been welded back together by some garage monkey or had the burned out wiring replaced by someone's idiot cousin.
Posts: 22497 | Registered: Sep 2000
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quote:Originally posted by ElJay: Not in Louisiana, I just checked.
quote:Definition of a Salvage Vehicle by The LOUISIANA DEPARTMENT OF PUBLIC SAFETY OFFICE OF MOTOR VEHICLES: After a vehicle has been salvaged (75% or more of the retail value as determined by the current NADA book) or dismantled, the vehicle must be rebuilt or restored, before the vehicle can be registered to operate on the highways. A title must be issued with the brand of "reconstructed."
All the definitions I found, for all states, said that the damage had to be at least 75% of the value, so not just in an accident. (Some states also give salvage titles to vehicles that have been stolen, but not LA.)
Ah, what Bob said. Here, at least, a Salvage title is issued for pretty much everything.
Posts: 4313 | Registered: Sep 2004
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Oh, another thought -- ask the current owner to get a proper title for it. If he can't do that, chances are you can't either.
Posts: 22497 | Registered: Sep 2000
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Excellent advice, all, especially Bob, about the picky mechanic.
If the title gets cleared, it'd have to be by me. The seller just wants to unload it because his insurance payments are so high. But he's asking 1100 bucks for it, so it would be worth the hassle of clearing the title, assuming it checks out and I can figure out how to do it.
Posts: 5462 | Registered: Apr 2005
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Although I'm not entirely sure on that, and it may differ from state to state. Still, I'd find out first if I were you.
