What happens to accident vehicles that are auctioned.

[Nikhil Malhotra]

There are several Genesis that have been in accidents and are auctioned. Are these vehicle OEM parts available somewhere ?
How does this work in the United States ?

Some of the rear ended and side impact vehicles have perfectly intact interiors that can be sold as OEM for less.

 

[Mr. Incredible]

I don't understand your question about OEM parts.

when a vehicle is in an accident and the insurance deems it a total loss, they pay out to the insured, then auction the vehicle to recoup some of the payout.

the vehicle is then flagged at the DMV as a salvage or totaled vehicle, but there is nothing stopping you from buying it and repairing it yourself, OEM parts can be had from a dealer, or buy 2 of them and piece them together.

I bought 3 1995 4runners that had been stolen or wrecked from auction, paid $3,500 for all 3, was able to piece 2 fully running vehicles together from the 3, and sold each for $5,500K as a salvaged repair. out of pocket for me was $4,600 with the parts and purchases, and I made a $6,400 profit.

I have a friend that does this for a living. buys, repairs, and resells totaled vehicles, in some cases he can get the salvage title reversed from the DMV if he can prove the vehicle was rebuilt correctly and it passes a road safety inspection.


a Totaled or Salvaged title here in CA doesn't mean much, no different than a normal title, except that insurance companies are allowed to cover them for 50% of market value.

so if you have a 2018 G80 and market value is $45k and you total it, you get $45k,, if you have a 2018 G80 with a salvage title, you get a max of $22,500 if you total it again.

 

[Nikhil Malhotra]

Thanks , that was what i was thinking . Someone buys these cars and repairs and gets the DMV registration and sells the cars.
Some of these cars are really looking very good -
2015 Genesis 5.0 - for under 9K
https://www.copart.com/lot/54366838

But the other cars that have been in rear ended or front ended collision - do they rip the car apart and sell part i.e just the engine / internal / seats etc ?
Is there a market for just the parts (i called these parts OEM parts , since they are ripped out of a Genesis)

 

[Mr. Incredible]

Thanks , that was what i was thinking . Someone buys these cars and repairs and gets the DMV registration and sells the cars.
Some of these cars are really looking very good -
2015 Genesis 5.0 - for under 9K
https://www.copart.com/lot/54366838

But the other cars that have been in rear ended or front ended collision - do they rip the car apart and sell part i.e just the engine / internal / seats etc ?
Is there a market for just the parts (i called these parts OEM parts , since they are ripped out of a Genesis)

yes there are many places that dissemble totaled cars and sell off the parts, Ecology wrecking yards and the like, ebay is full of them, I have bought from them frequently when I was building hot rods or rat rods. Some great deals on seats, motors, cross members, etc. .

 

[Electrode]

A friend is a high end body work guy and I asked him about salvage vehicles. There was no hesitation: Too risky, avoid like the plague.

 

[Mr. Incredible]

A friend is a high end body work guy and I asked him about salvage vehicles. There was no hesitation: Too risky, avoid like the plague.

a high end body guy I could see that logic, but for every one high end guy, there are 3 dozen shade tree body guys..

 

[Joe7Bros]

My understanding of this subject: SALVAGE title vehicles are NOT road-worthy and your DMV is likely to refuse registration; a RECONSTRUCTED title "implies" the vehicle was repaired properly and was deemed roadworthy by a qualified inspection (if your state has that) station. MOST states retain the salvage or reconstruction branding on the tile regardless of where it came from; check out this link: https://www.cars.com/articles/2014/09/storm-surge-beware-of-title-washed-cars/

 

[Mr. Incredible]

My understanding of this subject: SALVAGE title vehicles are NOT road-worthy and your DMV is likely to refuse registration; a RECONSTRUCTED title "implies" the vehicle was repaired properly and was deemed roadworthy by a qualified inspection (if your state has that) station. MOST states retain the salvage or reconstruction branding on the tile regardless of where it came from; check out this link: https://www.cars.com/articles/2014/09/storm-surge-beware-of-title-washed-cars/

state specific lingo,. in CA a salvage title simply means it was paid out as a total loss. at some point., has nothing to do with road-worthyness.

 

[Joe7Bros]

It will if you try to register in PA

 

[EdP]

state specific lingo,. in CA a salvage title simply means it was paid out as a total loss. at some point., has nothing to do with road-worthyness.

Right, with 50 states and 50 sets of laws, it can vary. Here in FL a salvage title is what you get to prove ownership while you rebuild and then apply for a rebuilt title that will allow you to get insurance and register for road use.

CT had a similar deal and the car had to be inspected before registration.

Of course, "totaled" is a financial term, not an assessment of actual damage. With electronics in cars today, it is possible to have a large dollar damage from sensors and computers and have minimal chassis damage compared to a 15 year of Escort. .

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[Electrode]

Here's a good link on the subject: Tips for Buying Rebuilt Cars - Consumer Reports