RE: [emrat:6728] Salvage title?

This is my experience with a salvage title.  I purchased a 2006 BMW 1200GS with a salvage title in 2010.  Along with the title, the seller had to provide a completed "Rebuilt from Salvage Disclosure" form (available from Colo Dept of Revenue as a download).  This, along with the salvage title, was all that I needed to get a new salvage title in my name within Colorado.  However, the seller also provided two other forms that were necessary for the seller to certify the bike for roadworthiness and licensing:

 

1 - A "Salvage Title Statement of Fact" that was signed by a State Patrol Inspector.  This form notes the work done on the bike to make it safe for the road.

2 – A  Colorado "Certified Vin Inspection" Form  signed by a State Patrol officer.  This form notes the location of the Salvage Stamp on the frame and that all documents and invoices were OK. 

 

If you are pursuing a salvage bike, make sure that these various forms are available, otherwise you may have to obtain and execute these forms for a future sale or to verify authenticity.  I purchased my BMW from the guy that did the repair work (actually minor stuff), and he seemed to know what he was doing.  Some 16k miles later, the bike has performed without flaw (except for one factory recall that was completed without question).

 

 

Hope this clarifies how a Salvage Title works.  By chance, I talked to a fellow last week that has a business that buys cars & trucks from a salvage auction.  They fix up the vehicles and I assume they do the same sort of certifications before reselling the vehicles with salvage titles to long-term owners.  It seems to be a profitable business.

 

BTW, I only had to do a vin inspection once when I purchased a new 5^th wheel trailer in another state.  Before I could get it licensed in Colo, I had to get a vin inspection.  Otherwise, a vin inspection has never been required for any vehicle I've purchased within Colo.

 

Jay Clawson

From: emrat@googlegroups.com [mailto:emrat@googlegroups.com] On Behalf Of Norm Wright
Sent: Wednesday, April 8, 2015 1:56 PM
To: emrat@googlegroups.com
Subject: RE: [emrat:6726] Salvage title?

 

I've had to do it every time, maybe that's a county option.

 

From: emrat@googlegroups.com [mailto:emrat@googlegroups.com] On Behalf Of Curtis Graves
Sent: Wednesday, April 08, 2015 1:35 PM
To: emrat@googlegroups.com
Subject: Re: [emrat:6722] Salvage title?

 

I affirm Tyler's statement. 

On Wednesday, April 8, 2015, Tyler K. <blimpie@gmail.com> wrote:

My private party motorcycle purchase did not require a vin inspection. Only time I've had to do a vin inspection is when purchasing vehicles from out of state.

--
Tyler Kohler

 

On Wed, Apr 8, 2015 at 1:32 PM, Norm Wright <lowrtax@gmail.com> wrote:

I suppose one should not be shocked that there are those who forge paperwork.  That's one of the reasons in CO if you buy a bike from a private party, the DMV or Sheriff must inspect the bike and confirm the VIN before issuing a new title.

 

From: emrat@googlegroups.com [mailto:emrat@googlegroups.com]
Sent: Wednesday, April 08, 2015 1:01 PM
To: emrat@googlegroups.com
Subject: Re: [emrat:6717] Salvage title?

 

How would a stolen bike get a salvage title, though?  Dumb question, I guess, but when you go to apply for a title (whether regular or salvage) don't they punch the VIN into the computer to see if it comes up as stolen before they issue a new title? 

 

IOW, I would think that the issuance of a valid title (whether regular or salvage) would pretty much be proof that a vehicle is legally owned.  After all, that's what a title is for, isn't it? 

 

The issue I would think might come up is where a motorcycle is stolen and then the VIN is put into the police database as "stolen."  Later on the bike is recovered and sold at auction with a valid (salvage) title to a bonafide purchaser (that is, a legal purchaser.) 

 

Some time after that, the cops pull said motorcycle over and run the VIN and it comes up as "stolen" because of the original theft report and the police database that has not been updated or corrected to show that the stolen bike was subsequently recovered and then sold with a salvage title.  This I could see happening. 

 

Martin

 

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From: "weverman@comcast.net" <weverman@comcast.net>
To: "Everman, Wayne" <emrat@googlegroups.com>
Sent: Wednesday, April 8, 2015 12:48 PM
Subject: Re: [emrat:6714] Salvage title?

 

Is there any truth to the rumor that the DMV can seize a bike with a salvage title, in the event that the bike is found to be stolen?  EWB

 

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From: "Dan Pilcher" <dpilcher@cochamber.com>
To: emrat@googlegroups.com
Sent: Wednesday, April 8, 2015 12:39:53 PM
Subject: Re: [emrat:6712] Salvage title?

 

Norm Wright has experience with this.

 

Dan

Sent from my iPhone

On Apr 8, 2015, at 12:22 PM, "'Martin Albright' via EMRAT" <emrat@googlegroups.com> wrote:

Hey, quick question for the group:  Has anyone here ever bought a bike with a salvage title?  I understand salvage does not always mean "wrecked and rebuilt" but it does mean that at some time in the past an insurance claim was filed and the cost to repair was higher than the then-current value of the bike. 

 

Reason I'm asking is every now and then I come across a salvage titled bike for sale that appears to be in good condition and I never know if I'm passing up a potentially good deal or if I should, in the immortal words of King Arthur and the Knights of the Round Table, "RUN AWAY! RUN AWAY!" 

 

Thanks in advance!

 

Martin

 

PS:  I understand salvage titles have severely diminished resale value but other than that I'm wondering whether people have had problems getting a title transferred, insurance (liability only), etc. 

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