Expert: Steve - 9/13/2009

Question
I am interested in buying a used car for my teenage daughter in colorado.  It's a 1998 honda accord LX sedan 4D, 4 cyl 5 speed manual.   The private party selling the vehicle informed us the title was a salvaged title.  He bought it this way.  He was told the original owner had the vehicle stolen and title was salvaged even though the car was recovered. I called my insurance company and they said that didn't sound right.  He is also asking over private party Kelley blue book due to lots of extras, (new tires, sound system, rims).  Does this sound right, it didn't make sense to me.  I'm leary about buying a salvage vehicle because the payout for Uninsured Motorist protection would be a very low amount, correct.  Any comments or suggestions appreciated.  Thanks

Answer
Hi Julie,
First off, stay away from a salvage title vehicle. They are never rebuilt nearly as good as factory. Value is less then half of book.....It sounds like someone is trying to take advantage of you. I myself would never drive a salvage title vehicle, and definitely not let my children drive one. What is your budget????? Also Uninsured motorist has nothing to do with salvage, you may have that confused with collision....Please do not buy that car, and also please let me know of other questions, as i may be able to head you in a better direction!

Steve