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Elite Veteran
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Location: Belford, NJ | http://www.copart.com/c2/classic_auction_search_results.html?_event...
I'm more interested in how these auctions work rather than the car itself, but figured I'd pass this on in case there was interest. I know that there are fees added to the purchase price, as in any auction, but wonder if anyone here has ever had any experience with this type of auction and can pass on any information. |
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Expert 5K+
Posts: 7809
 
Location: Williams California | This car has a junk slip, and cannot go back on the road, if New York is similar to California in that respect. Parts car, but many good parts.
---John |
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Exner Expert 19,174 posts. Neil passed away 18 Sep 2015. You will be missed, Neil!
Posts: 19146
Location: bishop, ca | John, is the "junk slip" different from a Salvage Title?
Salvaged title cars can be registered and run & sold.
I helped a friend navigate a claim settlement, where he kept "salvage" possession on his 98 New Yorker, and did the
cosmetic repairs himself.
Altho the net-settlement was less than the Total-Loss-Creation point, that company (Nationwide---who was NOT on his side)
nevertheless "totalled" his car, so that it now has a Salvage title.
Nationwide could (and should-) have paid him off on a Property Damage settlement, repairable-vehicle basis.
Edited by d500neil 2012-08-18 1:28 PM
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Expert 5K+
Posts: 7809
Location: Williams California | Salvage titles are different than a junk slip. If a vehicle is turned into the DMV with a junk slip, it cannot go back on the road, unless a licensed dismantler sells it to another party, whom has to complete a state brake and light inspection [about $120 at licensed shops] at which point a salvage title is issued and the car can now be licensed.
Independent buyers can also bid on insurance claim vehicles and ressurect them for use, but the title will always remain as a salvage title.
If a $300 or less value lien sale is placed on a vehicle, or the police tag a vehicle during a code enforcement abatement, the vehicle can never be issued a title, and only can be parted by a licensed wrecker or scrapped.
---John |
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Exner Expert 19,174 posts. Neil passed away 18 Sep 2015. You will be missed, Neil!
Posts: 19146
Location: bishop, ca | A lot of towing/impound yards will file for a Lien Sale on the car, regardless of its physical condition---representing its towing/
recovery/storage charges on the car.
Are you saying that such a filing, if less(?) than $300.00 will render the car as being non-license-able?
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Expert 5K+
Posts: 7809
Location: Williams California | d500neil - 2012-08-19 7:48 PM
A lot of towing/impound yards will file for a Lien Sale on the car, regardless of its physical condition---representing its towing/
recovery/storage charges on the car.
Are you saying that such a filing, if less(?) than $300.00 will render the car as being non-license-able?
Exactly. The gal that does the paperwork for a small yard here in town put the checkmark in the wrong box for a five year old car they were doing a lien sale on, and when they went to get title documents from the state, they were refused, as the box marked $300 or less lien had been checked. A $10,000 car suddenly became a parts car.
---John |
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Exner Expert 19,174 posts. Neil passed away 18 Sep 2015. You will be missed, Neil!
Posts: 19146
Location: bishop, ca | Ohhhh; I get it...I think; if the yard says that the subject car is not worth $300.00 (even), the car is not able to be re-registered???
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1959 Dodge
