Salvage title jk value?

G

Gecko13

Member
Morning, I may be purchasing a built jku that has a salvage title but I’m unsure of the value. Without the salvage title it’s worth 60-70k. It still needs repair, hood, inner front fenders, windshield frame, it was involved in a minor rollover.
 
Honestly, the value is whatever you think it's worth to you. Typically, there's enough damage done to the vehicle that an insurance adjuster determined it would cost more to fix than it would be to just replace.
 
wayoflife said:
Honestly, the value is whatever you think it's worth to you. Typically, there's enough damage done to the vehicle that an insurance adjuster determined it would cost more to fix than it would be to just replace.
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Thanks for the reply, of course the adjuster isn’t factoring any of the aftermarket parts, LS, atlas, suspension l, axles etc. I was thinking half so maybe 30k but not sure.
 
Gecko13 said:
Thanks for the reply, of course the adjuster isn’t factoring any of the aftermarket parts, LS, atlas, suspension l, axles etc. I was thinking half so maybe 30k but not sure.
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I would be hard pressed to pay anything more than half of what the actual value is. I feel this way about Jeeps that aren't salvaged too.
 
Problem with salvage title, insurance companies will NOT insure it for anywhere near the current value, if they insure it at all.

I have a beater mini van that I bought with a salvage title. NADA had the value at $7000, insurance company told me $2500 max.
I bought it for $2000 and got PL&PD only on it.
 
kevman65 said:
Problem with salvage title, insurance companies will NOT insure it for anywhere near the current value, if they insure it at all.

I have a beater mini van that I bought with a salvage title. NADA had the value at $7000, insurance company told me $2500 max.
I bought it for $2000 and got PL&PD only on it.
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Yeah I haven’t heard back from my insurance yet on that but I was assuming that was the case
 
If you're never going to drive it on public roads and trailer it everywhere you go to play, shouldn't be a problem.

There are different kinds of insurance for toys like that, you can then insure it for a declared value. It will cost more on premiums.
 
Part of the problem with salvage title is financing. Even if you don't need to finance it, when you go to sell it most people need the bank to help out. Banks don't typically loan money for what they consider junk, when they do the interest goes sky high.
 
I looked into starting a build with a salvage title JKU. I talked to a guy in Phoenix whose business was buying salvage cars (small sedans, mostly Ford, Hyundai, or KIA involved in heavy corner collisions with less than 5000 miles on them.) His advice was "If you know what you're doing from the rebuild to the paperwork, you may come out ahead. However, experts even get burned from time to time." He was an artist and the process was quite impressive.

The most surprising thing I learned was that a majority of these "salvage" cars change hands two or three times before they're even fixed or parted. By the time it gets to you there's not much meat on the bone.
 
as mentioned, most insurance companies will not insure unless the rebuild is done within specific criteria, you'd be better off buying it as salvage (think pawn shop prices) pull the parts that you want and scrap the rest.

The insurer will take a bigger loss once they flip it to auction or scrap yard.

even with the parts you listed, do you know if they are in full working condition?
 
I have bought and built several salvage vehicles over the years. I build them myself and keep them for personal use for several years before selling. I could not come out ahead on one if I had to pay someone to repair it. I have never had a problem getting one insured in Tennessee.
 
I say buy it for the parts if they are in working order then get another stripped sport model and start the transplant.
 
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