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Old 12-02-2012, 05:47 PM
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salvage title cleared?

I recently had a 06 f250 burn insurance declared it as a total loss. they called today and offered me 13,900.00 (bank says the loan value is 21,000.00) for it. they said the value of it is so low because it has a salvage title that was cleared. NO WHERE on my title does it say salvage or rebuilt. can that even be done? every thing i've read said you can get a salvage title transfered to a rebuilt one but could not completely clear it. I'm damn near certain my bank would've caught something like that when i took the loan out. so now i'm not sure what to do should i accept it or just go ahead and call my attorney and let him deal with them?
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Old 12-02-2012, 05:53 PM
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I'd do a little research before I accepted $8k less
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Old 12-02-2012, 06:02 PM
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yeah thats what i'm thinking just not sure where to start.
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Old 12-02-2012, 06:10 PM
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In my experience with claims, the insurance company will come at you with a low ball offer first hoping you just accept it. When you bought the truck did you get gap insurance? If so then gap would cover the rest. Also depending on the insurance company all of the aftermarket stuff you put into it has value. They should be factoring that in as well. With my state farm policy, anything I have recipts for that I have added to my truck will be covered. If you have an lawer that will look into this for you I would start there. I know here in WA a salvage tittle can be cleared but it will be replaced with rebuilt.
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Old 12-02-2012, 06:25 PM
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They are full of crap, your bank should have noticed if it was, hell the insurance company should have noticed it and disclosed that to you in the beginning. Dont take no bs from them. I once had the insurance pay me for a rubber bed mat, car seat, aftermarket cd player, and the fair market value of my fairly new tires, after they lowballed me.

Sent from my phone that somebody didn't help me get.
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Old 12-02-2012, 06:30 PM
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ask them one question.
Was your insurance premium lower than other people with the same year/model truck that had a clean no salvage history title ?

When they tell you no, then you tell them you want to be paid for your loss the same as them, which is fair market value in good condition from NADA or KBB.

Period.
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Old 12-02-2012, 06:34 PM
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Looks like a potential lawsuit, and if anything, I'd go after whoever sold you the truck and didn't declare that. banks are usually pretty good about catching that sort of thing but human error is never 0%. I'd talk to your attorney and see what they think, but I wouldn't except that with such a difference in numbers.
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Old 12-02-2012, 07:03 PM
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lucily i did get gap coverage hell i still owe 16000 on it. and at the begining they said if i could provide reciepts for the custom parts they would cover them hell i've sent them over 10,000$ in reciepts. i guess they think i'm just some dumb kid.. but are sadly mistaken.
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