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post #3 of Old 08-22-2014, 07:40 AM Thread Starter
GenCoupeGeek
Why so serious, Bro?
 
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Garage
(Thread Starter)

I purchased my car with 5,500 miles on it and a rebuilt title. I got it for a steal. In my case the car was stolen and the insurance company paid it off. When the car was recovered, a rebuilt title was issued after inspection by a dealership certifying the car as roadworthy. Once a title is killed, it cannot be revived... regardless of why it was killed.

The rebuilt title in the case of the car you are looking at is because the car was totalled by the insurance company. This means that the insurance company paid the car off and probably sold it with a salvage title at auction to recoup some of their losses. Whoever purchased the vehicle restored it to operational condition and applied and received a rebuilt title for the car so that it can be registered again.

I would approach this car with caution. Have it fully checked out by a competent shop to look for potential problems that may end up costing you an arm and a leg later. Cars that have been rebuilt are only certified to be roadworthy... that does not mean that they don't have significant mechanical issues. If the car checks out, then you might have found yourself an excellent deal. Keep in mind that the warranty died with the original title so you are on the hook for any future repairs as Hyundai will have nothing further to do with the car. Also, you may find that resale value of the car is further diminished when you re-register it. If you plan to keep the car until the wheels fall off, no big deal. If you think that you are going to trade it in for another car later... forget it. You'll be lucky to get salvage price for the car regardless of what shape its in.

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