Tips for Buying a Used Elise or Exige including information on SALVAGE titles - Page 2 - LotusTalk - The Lotus Cars Community

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post #21 of 35 (permalink) Old 06-17-2013, 01:38 AM
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Quote:
Originally Posted by 65535 View Post
So, I'm fairly new to the idea of buying a car sight unseen. This is a great list, but how can you be confident of the condition of the vehicle based on the word of the seller?
Same way you gain assurance on anything out of sight - ask the seller lots of questions, get them to take specific photos, and finally, best of all, get someone local to check the car. Ask on here for mechanics familiar with our cars in the location you are buying from, or even members here will often help.

Finally - it isn't that expensive to fly to see a car for final verification

Hope that points you in the right direction



I bought my car from a dealer on the other side of the country. I agreed the deal before I even knew anything more than the VIN - have had it seven years now
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post #22 of 35 (permalink) Old 08-05-2013, 04:35 PM
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Salvage vs Rebuilt: There seems to be alot of confusion on the "Salvage" vs "Rebuilt" title.
I can mainly speak on Florida rules, but I think that most states have the same definitions.
A Salvage title is a car which has been considered a "total loss" by an insurance company. This happens quite frequently on our beloved Elises and Exiges, because the front and rear clams are expensive to replace and other parts and labor can be quite costly as well. A car with a salvage title cannot be driven on the road.
A Rebuilt title is a former Salvage title car which has now been rebuilt and deemed to be safe and roadworthy by the State DMV inspectors.
A car cannot be driven on the road until it is inspected and has a "rebuilt " status title.
Then there is the "Certificate of Destruction" or CD titled car. This is a car which is deemed to be unrepairable by the insurance company and can be only sold for parts or scrap. This car can never be driven on the road! Best to "Stay Away"!
Hope this helps.........

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post #23 of 35 (permalink) Old 09-16-2013, 07:42 AM
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If a buyer wants to setup having the car shipped to them rather than coming to get it themselves, is there any way you can be sure it is actually shipped to them? Rather then them trying to then claim they never received it after ?

I've heard of a lot of paypal scams working this way, just wondering what the normal practice is for a car that gets shipped.
Thanks.
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post #24 of 35 (permalink) Old 10-04-2013, 08:17 PM
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Is there any way to get a rebuilt title certified as a regular title or get insurance for full coverage of a rebuilt title? I read most insurance companies won't insure rebuilt titles or only up to 40% of estimated value of a non-rebuilt car

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post #25 of 35 (permalink) Old 10-06-2013, 06:15 AM
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Insurance companies have no problem insuring at full retail value.
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post #26 of 35 (permalink) Old 10-07-2013, 06:33 PM
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Thanks I checked with my insurance progressive and they said as long as the car was properly repaired a rebuilt title would be treated the same as a regular title. That opens the opportunity to some good deals

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post #27 of 35 (permalink) Old 10-14-2013, 04:29 PM
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Buying a car sight unseen is always a risky adventure. Pictures never show you everything. Check the area around where you're planning to buy the car and see if there is someone who has a business of performing pre-inspections. Try to find someone who is familiar with the Lotus. They should provide you with a thorough report and numerous pictures and they typically charge anywhere from $3-$500, but it's an investment well worth the money. Ask for a sample of a previous report/inspection that he's done.

Good luck.
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post #28 of 35 (permalink) Old 02-06-2014, 06:45 AM
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Very good info on salvage title cars. I did a Vette salvage, would not do it again,
even though I got lucky and managed get a clean title. Traded for a new BMW.
Didn't dare sell it to someone.....
10K on A048's?, I wish....Got about 5K on rears, proves I'm having lots of fun.....
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post #29 of 35 (permalink) Old 04-23-2014, 06:39 AM
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Originally Posted by qball View Post
Check to see if it's been dropped from any significant heights in it's past.
How would you know?
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post #30 of 35 (permalink) Old 11-19-2014, 06:20 AM
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If you're in the market for an Elise, make sure you check out this thread w/ 3 excellent videos of things to look out for in a used Elise:

http://www.lotustalk.com/forums/f259...-video-237633/

Best of luck!
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post #31 of 35 (permalink) Old 02-22-2016, 06:32 AM
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Hi, does anyone have experience with a rebuilt title and insurance in MI ?
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post #32 of 35 (permalink) Old 02-22-2016, 06:42 AM
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Hi, does anyone have experience with a rebuilt title and insurance in MI ?

Do I have experience? More than you'd believe. Will any of it apply o you? Likely not.

I say that because the lady at the SOS just handed me a clean title when I registered the car. I didn't notice at the time, so I didn't think anything of it. I was insured through Geico who, as far as I know, has a policy to not cover Lotus in the state of Michigan. My VIN slipped through though, and they were super irked when I filed a claim at Grattan (their policy excluded racing, not track days. Again, specific to Michigan).

They are cheap and horrible to deal with on an actual claim. Id only use them if you honestly bet on never actually needing them. Otherwise, pay extra for literally anyone else.


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post #33 of 35 (permalink) Old 02-22-2016, 07:18 AM
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A clean title. Would be nice! I had never thought that track days could be covered, or that some companies will not insure a Lotus - I'll check my company (State Farm) on both these points..
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post #34 of 35 (permalink) Old 02-22-2016, 07:33 AM
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A clean title. Would be nice! I had never thought that track days could be covered, or that some companies will not insure a Lotus - I'll check my company (State Farm) on both these points..

If you are getting a loan, make sure your bank/credit union will allow a branded title, too. Some won't.

Also, do not ask your insurer about track days!! Simply ask for a copy of your policy document. Look for the section titled something like "exclusions". I went to State Farm after Geico dropped me (tee-hee) and my policy with them made it very clear that anything on a track is not covered.

Lastly, don't get a car with the LSS shocks or you'll hate life on the Bosnian roads that are SE Michigan.


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post #35 of 35 (permalink) Old 11-11-2016, 06:05 PM
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What is the different between a salavage title and a rebuilt title?
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