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Selling Car that was Declared a Total Loss

spyderdsm 387 33 March 16, 2013 at 04:03 PM
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Im selling my car that was declared a total loss by the insurance company back in 2006. I had it repaired and its been running fine since. Im in NY and the person who is buying it knows it was in a accident in 2006. Car fax shows "TOTAL LOSS VEHICLE Vehicle declared a total loss by an insurance company Collision damage reported" but I have a clean title. Im selling it to a private party and want to know if they will have a hard time registering the car and getting a title in their name.

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#16
Quote from spyderdsm View Post :
thanks for the reply.
The title I have is dated prior to the accident. The insurance company was geico. Both me and the other party had the same insurance company. I only had liability at the time of the accident and they declared the accident 50/50. They declared the car a total loss and only gave me 50% of the value of the car for property damage. They said I can do whatever I want with the car so I repaired it.
Good details - it would scare me that I didn't have any updates, though. I'd see if you could pull records before finishing off the sale. Contacting the DMV now wouldn't result in anything worse than when the new buyer tried to register/title it. I'd simply call and ask if they ever pushed any details through the state.
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#17
Quote from Formless View Post :
Good details - it would scare me that I didn't have any updates, though. I'd see if you could pull records before finishing off the sale. Contacting the DMV now wouldn't result in anything worse than when the new buyer tried to register/title it. I'd simply call and ask if they ever pushed any details through the state.
you think I should ask my insurance company Geico? Its funny, that Im still driving a car they declared a total loss and they still insuring it.
I just checked carfax and it states the title is clean(no salvage title according to them.)
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Last edited by spyderdsm March 17, 2013 at 09:11 AM
#18
Quote from spyderdsm View Post :
you think I should ask my insurance company Geico? Its funny, that Im still driving a car they declared a total loss and they still insuring it.
I just checked carfax and it states the title is clean(no salvage title according to them.)
You OP says CARFAX says otherwise?

Check with Geico, check with DMV. Cover all of your bases.
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#19
the new title given will be a Salvage title
you can get fined

http://www.dmv.ny.gov/salvage.htm
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Last edited by qldq March 17, 2013 at 07:24 PM
#20
Quote from spyderdsm View Post :
my title is clean. its the original title I got when I bought the car in 2005
No it's not. It hasn't been updated. It is pre accident.

Quote from spyderdsm View Post :
you think I should ask my insurance company Geico? Its funny, that Im still driving a car they declared a total loss and they still insuring it.
I just checked carfax and it states the title is clean(no salvage title according to them.)
As you can clearly see, Carfax is useless.
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Last edited by saladdin March 18, 2013 at 05:44 AM
#21
The person who is buying it knows it was in an accident, but did you tell them that it is a salvage vehicle? There's a big difference there. Since you are the seller and you don't want your buyer to have any problems, it would be your responsibility to go the the DMV and get a new title that reflects the exact status of the vehicle before you sell it. It doesn't matter what the title you have in your possession states as it is an old document and is worthless at this time.

If your new title doesn't indicate a salvage due to whatever reason such as length of time or failure of the insurance company to report to the dmv, then I'd make sure you state clearly on the bill of sale the accident and total loss declaration by the insurance company to cover yourself.
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#22
I guess the issue with a salvage title it paying twice for an accident given the age of the car NY says who would carry collision on a car that old. Like I said I would include the information in the bill of sale and let the buyer know you will help with any paperwork required to get the car registered , but if NY does not require the car damage to be listed i would not.

You "MAY" want to apply for a lost title so you have a new one and see what that one says Smilie
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#23
Update:
I told the buyer everything including that the new title given to him might be a salvage title and the car was totalled by the insurance company in 2006. He was OK with it and still wanted to buy car. We completed the transaction yesterday. I also wrote up my own bill of sale for my recording just to cover myself, stating he acknowleged the car is sold as is and also the title mght be salvage and the car was declared a total loss by the insurance company. The buyer was OK with that also.
I even told him I wouldn't be able to sell the car until I get an updated title and he insisted on proceeding with the sale.
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#24
hey you did full disclosure and that is all you can do, be happy and did you buy a new car?
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#25
Quote from komondor View Post :
hey you did full disclosure and that is all you can do, be happy and did you buy a new car?
No I didnt buy another car. Wife already has one and I use public transportation for work. For now, we dont need 2 cars in our household.
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#26
but now you lose your multicar discount Frown

i have a friend that had a 20 yr old jeep cherokee it was cheaper to insure it than lose the multicar discount.
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#27
Quote from komondor View Post :
but now you lose your multicar discount Frown

i have a friend that had a 20 yr old jeep cherokee it was cheaper to insure it than lose the multicar discount.
The multicar discount was only saving me $60. My Premium went down $330 by removing the Altima. I also have the multiline discount because I got my renters insurance with Geico..
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#28
can someone run a carfax for me? pm me
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#29
Quote from komondor View Post :
but now you lose your multicar discount Frown

i have a friend that had a 20 yr old jeep cherokee it was cheaper to insure it than lose the multicar discount.
The thread is old but someone else bumped it, so I am just going to play along, haha.

I just found it funny that you mentioned the multicar discount. I had 2 cars and put one into storage in my garage while waiting to sell it for a couple of months, so was carrying "storage insurance" for like $6 a month. Once we sold the car I called up to have it removed, they said my premium was going to go up like $30 a month since I was losing the multi-car+multi-policy discount! I just told them "Pretend I never called" and kept paying for it. laugh out loud
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#30
update:
Buyer registered car and got a clean title.
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