Title Status: Rebuilt

Memphis370Z

I've financed three loans through LightStream (SunTrust Bank) and, although the purpose of those loans were listed as auto purchases, the lender never once put a lien against any of the vehicles, nor did they request the VINs. I asked them about this and was told that they make credit decisions based upon the borrower's credit score and ability to repay. Further, I was told they are not interested in collateralizing these types of debt (auto loans) due to the administrative costs and low risk due to their credit decisioning model.

All that noted, did you have a different experience with LightStream? Did they request your VIN and place a lien against your Pacifica?

OxZed

Same experience here; and, the rate I got was as competitive with any used car rate elsewhere.

I finance once with a local back and the rate was a tad higher; but, it was a local bank and I didn't expect the best rate in the nation. In this case, the vehicle (title) was held as collateral - and they were fully aware of the title status. Only extra step required was a visual inspection.

Desert Rat

That's interesting. Most big lenders won't touch them with a 10 foot pole. Small banks FTW.

nis350

I suppose the bottom line is cost.....

If you want to buy one with rebuilt/salvaged history for 30-40% discount to the market value and willing to take the risk, go ahead.

I personally would not take the risk.

BTW: there is only 'salvaged' title in California regardless.

Rusty

We have R title in Pa. Dealerships will not touch a car with that on it.

__________________

浪人 - 殺し屋
"The Difficult Anytime, The Impossible By Appointment Only"
http://www.the370z.com/members-370z-...o-journal.html

evolution

Unfortunately , most of the comments on the issue of rebuilt title and salvaged titles are false. Car fax has stated that more than 30% of cars that have been in an accident hav never even been reported to a insurance company. So any vehicle you buy can put your life in danger, but a rebuilt title is safer because it was inspected by the state after repairs are done. goes trough a state inspection .

I have been buying salvaged vehicles and repairing them for years, i have never bought a flood, fire or severe frame damaged vehicle. If the vehicle is correctly repaired and you have all the receipts and you have a licenced mechanic check the vehicle, it is more than worth it. I just finish my second 370z, 2016 370z with 18k miles. paid only $3,600.00 bucks. initial issue was the front pass spindle, hood, front bumper , radiator support, fender, drivers airbag and roof airbag. All items were purchased from the dealer at a cost including body work for 6k. With title taxes and fees i'm in it for $10,300. The book value even with rebuilt title is 800.00 less than a clean title, Why? because its still a sought after vehicle . Book value is 21k . But guess what i'm having so much fun driving it that i already put 2k miles on it .
I think the rebuilt title is a much better buy. my experience you ask ? I'm on my 185 salvage vehicle and i have plenty of customers lined up waiting for cars to be finished while saving 5k or more.