How I Profit from Buying and Selling Salvage Title Cars
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- Опубліковано 8 жов 2023
- Buying Salvage Branded Reconstructed Theft and Flood damage titles can be scary and heres what I look for.
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Here is Part 2 "the Scammer Video" and how we caught him --- ua-cam.com/video/q2im3jqY7uk/v-deo.html
a scammer that got scammed with flood salvage title vehicles!
A good scanner would tell u original... mileage.
Is the electronics that is damage....
If you're totally forthright about it and provide the customer details of the repairs I'm totally fine with flipping rebuilds. What gets me is when folks try to market them as "clean" or cheap out on structural repairs so it's not as safe as OEM condition.
That Corvette scammer is in my town Craig, let me know if you need a hand.
Its sick. A small guy busts his butt. To make a living an you get someone doing that.
I’m in Rochester as well, handle business….
He just talks like a scumbag.
What did the guy do!
@@sjfk1306 Just talks way too much. Baller wannabe. Monroe county-highest violent crime rate in ALL of NY State.
Melvin and Robert are 2 🤡🤡
The thing about flood damage too: samcrac just had a corvette, "flood totalled" for parts only...only prob? it was a scam, car wasn't flood damaged, they had an ongoing issue with the fuel system so when a flood hit, they claimed it, insurance had so many claims they just blanket wrote off 20,000 vehicles.....there was no one speck of water mark anywhere on the vehicle.
Craig you got scammed?? Wow that’s awful. Can’t wait for video 2 I’m hopeful that you got the corvette back.
If you are curious about true miles you can pull them with a scanner from the transmission
Yeah I thought you could get it from the ECU as well.
@@muskokamike127but the dmv only goes by the info written on documents
@@thomasharris5151 That's fine, but as a buyer you could take it to a mech and get them to scan the ECU or Trans and verify the actual miles.
I bought a POS truck and brought a mech with me and he brought his scan tool.
The fact his shirt said "HEARTLESS". I knew what you were dealing with.
Craig. A c7 keeps the actual mileage stored in the PCM. You can buy a program from GM. To check it. C5 andC6 does not store miles on the pcm so a simple cluster change to change mileage. Hopefully carfax can catch that.
You should know when people act like that guy. "Hey your family" it should throw up RED FLAGS.
Please tell me he didnt get you with a fraud Cashiers Check? 🙏
Been seeing that on Facebook
Yea, this guy was way over the top on the patronizing and flattery.
Whenever someone gives too many compliments I always get paranoid 😂 my BS meter starts tingling
Dude drove 6 hours to scam someone, let me guess he was eating a sandwich while driving back and accidentally ate the title along with the sandwich and now he wants his money back?
Anybody that wears socks with sandals is suspicious in my book...
Giving the customer results! That is what it's about, period. You do need to know who your customer is, just like you said in the video, lot's of non customers in the mix. Keep up the fabulous work Craig.
I got a 05' jeep grand cherokee limited 5.7L Hemi with a salvage title. Great car n all. Sounds great! But I did have issues trying to insure it at certain insurance companies 🤷♂️
An insurance company will insure a rebuilt title car, however they won't pay out on it! I spoke to State Farm in length about this. They suggested only purchasing liability insurance since they won't payout twice on any vehicle.
Melvin the scammer…..I cant imagine it, he looks so trustworthy.
What made him "look" untrustworthy?
lol yall chill@@Stressless2023
Nothing good has come from any stranger that uses the word family like that. As soon as I hear that I think.....brace yourself 😅
hey Craig love your videos, just one suggestion, reduce the amount of meme or alternate clicps you add in between your talking, which is really distracting.,
The biggest and most obvious red flag should have been that the dude was trading in Vette for a can-am spyder. You only do that if your Vette is a pile.
Trade in was likely $20 for the Vette !!!!!!!!!
Salvage, flood and bad OD ???? Yikes !
Hey Craig, saw you mentioned this was TMU from a clerical error but often times if the auction/insurance cant get power to the dash they will mark the salvage certificate TMU which will then follow the vehicle even after its been rebuilt. Keep up the great videos I enjoy them and can relate to alot of them as Im a dealer myself.
exactly 💯💯
I had the same thing happened from an oil change place , no power when the insurance company totals it . I had Carfax fix it for me . as long as you can prove it they fix it . I have done this plenty of times
Exactly!
I bought a brand new suv from a dealership in Texas, moved a few years later and when im registering it in another state I get a TMU (or as they mark in this state Not Actual Mileage). They said it was how the dealership submitted the paperwork which is CRAZY to me that an error was made on a brand new vehicle and was a pain in the ass to try and fix.
yup correct, ive gotten a few cars from copart with the dash inop or dead battery and they wrote it as not acual,, so when i titled in my name they said i cant write a milage on it now it has to stay not acual,, but the log on car fax will documents it when it goes to shops
My biggest regret in life is purchasing a salvage title vehicle (a Lexus). Tire flew off due to broken cv joint and axle.
Excellent videi!
Can't wait for video #2
Make sure you check on insurance rates for a car with a rebuilt title. It can be significantly higher than cars with a clean title.
All-State will not insure more than liability on my rebuilt title car so be careful.
That’s not true
@@fernandobaez9914 Wrong.
ALSO.....banks will not loan full amounts on salvage title vehicles. Because they know IF they have to repo them, they are worth FAR less at the auction.
@@davehoffman515 Not true.
Nice video Craig, 100% your honesty, today in 2023 many people and customers think that a Rebuild titles are cars to be driven in another galaxy now on, but who knows take advantage on them by their low miles, a later years and the perfect price. todays date insurance paid off car for many valuable and invaluable reasons but it is their policy. I have found deals like that, amazing amazing deals. Thanks
Salt is the worst, but I would not even buy a freshwater flood car. Another year from now, problems could appear. It's just the nature of even fresh water damage to electrical connections. Also, I believe the discrepancy with actual mileage can cause some states to reject issuing a title. My last four Autocheck and Carfax reports were all wrong and did not include important information about accidents or salvage titles. Carfax refunded my money; Autocheck refused, despite geting overwhelming proof of their reports mistakes.
Usually this happens with flood cars since the auction can't get the dash to come on to put in the correct miles.
I have the same car with these same brands. Don’t know about yours but mine says it because when the insurance company sold it after the flood the auction listed it as having 1 mile, Carfax tracks otherwise but the brand will be there forever. I bet that one is the same situation.
Love your videos ❤
Its kinda common for Oklahoma tag agency to not input the correct milage, it has happens every once in a while.
Thank you. Your da man. Your awesome for guiding us through this. Awesome info. Have you wrote a book?
Paper last longer than wifi
You can get lucky with a flood car but the reality is that with all the electronics in cars today, they can become a total nightmare. That is why insurance companies total them. They normally bring good money at auction and they don't want to pay to try to repair and then have to total anyway. Salt vs fresh water usually makes a big difference. I recently retired from a major carrier and they would have high dollar cars cleaned and have all fluids flushed and refilled prior to selling at auction.
I’ve been flipping rebuilt salvage cars for over 17 years saving customers thousands and making great profits in the process. I think people are more scared of flood damage than TMU imo.. Great video! 👍
saving customers thousands? How so? A salvaged car is worth shit. When they go to sell it, if they even can find a sucker, they will get destroyed on the sale.
@@executiveinvestments That’s a common misconception. I’ve been selling rebuilt cars for over 17 years and usually get 70-80% of retail value without any issues. As long as you are transparent about what was repaired and the car is in good condition you will find a buyer no problem. At the same time people lose tens of thousands when they buy a brand new car that loses 50% of value in the first 3 years of ownership or lease a car..
@@SalvageSecrets common misconception? A salvage car is worth shit. And like I said when the buyer goes to sell it they are getting destroyed. Ur not saving a buyer money. Ur selling them a $30k car that’s worth $20k at most and charging them $25k. They are lucky to sell the car for $15k if they can find a buyer. And no new car dealerships would even take it on a trade. If they do they will give you half of wholesale if ur lucky as they can’t sell they car and dump it in an auction.
@@SalvageSecrets and no car is losing 50% in 3 years. 🤦♂️🤦♂️🤦♂️. Not even close. You certainly do sound like the shoddy used car salesman that rip people off. And yeah 70-80% of retail for a salvage car. That’s shit. $50k car salvage for $35k. Not saying much when cars are going for retail and higher for years.
@@executiveinvestments bro I’m not here to argue just share my experience. Saving $15k on a $50k is not much?? Lol
And yes most cars lose roughly 40-50% of their value in the first 3 years of ownership. My 2020 BMW X5 had a $78k MSRP and today it’s worth $45k.. It’s especially true with luxury cars (I’m not talking about exotics)
Sorry to hear that. I'm from Rochester, looking to see what happens in part 2.
Great someone giving people from Rochester,NY a bad rap. I am so sorry that you had to deal with that.
A visual inspection will most likely not show water damage. Any visible damage can easily be power washed off.
The REAL damage is in the electrical connections.
Over time, corrosion could happen and now you have a problems with short circuiting, etc.
Why cut in all the clips. Annoying. Seem everybody's doing it.
Looking forward to video 2
in some states the salvage designation stays on a title, they do not change to reconstructed or rebuilt. Most states do not put on the title the reason for the vehicle becoming a salvage, and in a lot of states you can take a car for inspection to ret a registerable title to put it on the road as long as it meets the legal criterial to be on the road, you do not need to show proof of changed parts, or even need to change parts. My experience comes from being as a wholesaler who bought and sold in more than a dozen states and who also exported clean title and salvage cars out of the country.
I bought a 2007 SAAB 9 3 convertible from Copart in Virginia. It had a clean title at purchase. Six months later I finally received a "Salvaged" title with no explanation. It turns out that the original owner had hit her garage interior wall at the front three times and the insurance company was done with paying for the repairs again. There were three front license plate brackets holders in the trunk, all with minor damage. So, now I am thinking of selling it on eBay with full disclosure. I have driven maybe fourteen hundred miles in four years, and it drives so nice that I will indeed miss it.
I like Craig......but with only 17 vehicles for sale on his lot and of those 11 have over 95K miles, its definitely a low end car lot. Bad idea to mess with flood vehicles, even IF the buyer knows, understands and signs the AS IS statement.
Cool vid
Great video and I look forward to seeing what happened with Melvin SCAMMER Johnson.
The graphics are too much tbh it’s distracting
Banks will not loan full amounts (if they will finance it at all) on salvage title vehicles. Because they know IF they have to repo them, they are worth FAR less at the auction.
You're going to leave us in suspense! 😄
Craig, I just hope he TRIED to scam you, but didn't succeed. You're a good man.
I think a little EDITING was in order here. Seemed quite repetitive; probably could have been done in 5-6 minutes.
I watch all of your videos but you're starting to have too many .....I don't know what they're called.....flash clips. It makes them harder to watch.
Beautiful blue vette
Love the James Rolfe cameo. A.k.a “Angry Video Game Nerd”.
I am an insurance agent and I can confirm you will have difficulties insuring it for full coverage or insuring it at all. It isnt impossible but your current company may not be able to take care of you. Also if you do find someone to fully insure it and you do have a total loss on it again you will be getting far under market value because of the salvage/reconstructed/branded title.
Water damage can be tricky with cars developing electrical gremlins later on. Insurance cos don't pay out unless they have to. Remember that.
Many flood cars get tagged with not actual mileage because, a-seller doesn’t sign a mileage statement, b-because a flood vehicle when sold at salvage auction probably can’t be powered up to see the mileage. Happens all the time.
Cars like that are perfect for forever cars but horrible for flips
In many cases, branded title vehicles can be great value to a customer. A low hit, rear that got into the trunk and floor pan g37 with 87k miles. Full maintenance records, from copart. All in, with parts from pick n pull, new OE rear bumper and a refinish in QAA. I had less than $4,300 in it. Passed it on to a family member to enjoy. Yes, I realize they’re not all like that but you gotta know your skill limitations. 90% of auction goers seek easy fender, door and hood damage cars. I look for roof and rears as I know collision work.
Salvage title cars are usually in better shape and run better because it takes a lot to get it on the road again but the insurance will not touch them and thats why I need a clean title because I need full coverage by law you have to have insurance but I have not seen and insurance company do higher than Liability and thats what sucks
0:41 Hey Craig’s into Audi’s!!! 😂😂😂
Another great video Craig👊🏼🛞Always gain some knowledge from your videos.Thanks and I’m sure you got the Corvette back from the scammer. I like yourself trust people and it always comes back to bite me.
If there is no water in the drive train, the trick is to pull up the carpet and see what the floor pan looks like. Niko brothers do a lot of them.
If you clean/replace any switches or electronics that have been wet, you might do alright.
It could have been a mistake my buddy bought a fresh water flood 2015 accord exl in 2017 for $8k. He looked under the car and saw nothing. He checked the oil saw no water. He jumped the battery and it started right up. No lights on the dash, nothing. It was a perfect car cause the insurance company messed up.
@@dirty2jz283yea it will be fine untill all the wires start to get corrosion down the line causing issues because it wasn’t dried right or repaired
@@lilrob19944 it was an insurance error car is still running 6 years later.
I like flipping theft recovery for me it’s a lot more easier to fix where it’s electronics and programming. Like keys and key fobs vs restoring cars that are hit and damaged which is out of my league.
Thank you Craig for the valuable information.
That's why in the UK we have something called an MOT, so you can track mileage, even with discrepancies. Maybe the US could follow suite like they do with everything else we invented LOL
U-HAUL TRAILER REALLY? PROBABLY RENTED TRUCK 😲😳 I THOUGHT SCAM SOON AS YOU SAID HE DIDN'T HAGLE THE PRICE COME ON MAN!
I found out the State Farm would not insure a rebuilt title vehicle. For that matter, found just one company that would insure liability only. It would be helpful if you could explain that insurance part for the benefit of all the viewers interested in branded title vehicles.
Absolutely not true.... I have had state farm for 5 years. All my cars are rebuilt.... I use my state farm insurance to apply for rebuilt titles all the time. I have only ever done liability because I fix my own cars
insured by state farm with rebuilt title as well
State Farm and Geico offer full-coverage insurance for rebuilt title cars.
Progressive, Allstate and Mercury also offer policies for rebuilt title cars, but there may be restrictions, such as only providing liability coverage . They may not offer comprehensive and collision, which cover the cost of damage to your rebuilt car.
@@dben3796 If you think it's not true then ask to put comp and collision on one of your branded vehicles! You will find out that it is true insuring a branded title vehicle
This is my dream car ❤
The blue corvette is so nice my favorite color
I buy and sell mostly all rebuilt cars for a living have never had issues selling them because I run my CARFAX and show the buyers the damage , I never buy bad wrecked out airbags deployed just fender benders theft recoveries ect..
hey we have the same car, what rims are those?
@@sniperpronerfmods9811 they are stock c8 wheels your talking about the c5 right ?
Hey Craig, do you see a lot of rebuilt titles at auction?
Some insurance companies will not insure a Rebuilt/Reconstructed title Nationwide ans Allstate will not insure them.
Hey Craig I used to own 90 gt mustang had clean title 🙄it should of had rebuilt title because the it put it didn’t look exactly right because the fender and didn’t line up properly plus color was wrong tinted right it so underneath crap welding but it drove really great so I bought anyway and enjoyed it it basically never had no problems with it was a good car
Can you make a video on how to start a salvage car business?
Great video and information. Quick question. So a reconstructed title or salvage title is still considered a clean title? Do you ever come across any 1960s Chevy Impalas noticed that you said you ship Nationwide. I'm not actively looking but searching for a blue, 63 or 64 Impala would love an SS if possible
Craig putting his full government on blast!
Probably not his real name
Craig in the event of major flood insurance companies will total out vehicles even if they didnt really see "flooding" they dont have a man power to go and inspect every car in those events and will blanket entire areas that saw flooding, this might of only seen water up to the door seal and never actually got water in anything that matters. its a gamble as you know but these seem to be cars of that nature, you got a killer deal on these
similar to the car samcrac bought on UA-cam it was a Corvette with like 20k miles but it was totaled under flood as a blanket from the hurricane, a reason FL has high rates because of all the bogos claims
When I lived in Colorado we’d get some crazy hail storms. It was pretty common for cars to get totaled out and then owners would buy the vehicle back from insurance.
You’d see newer vehicles driving around with every body panel looking like it had a ball peen hammer taken to it by an angry ex gf.
water damage can be window left open
Scammers are the scum of the Earth I hope Justice is served..
People like that is why I left Rochester NY
Ive owned and sold tons of rebuilt salvage title cars. Always carfax verify them. Never had an issue. Had a 2000 Lexus ES300 Platinum Series i bought with a clean title, yet Carfax showed it was a total loss before...but there was NO prior damage or repairs ANYWHERE. Car was beautiful and spotless underneath and on top. And we pulled fenders off and did all kinds of research. So not sure how that happened.
But YES, I'll take good ol american muscle, camaro or corvette, over a ferrari or any exotic car anyday. I hate exotic cars. As a car guy and someone who's been fixing cars for 14 plus years and owned over 200 cars, i know what's reliable and whats not. And exotics are NOT reliable in anyway. So yes i absolutely agree with you Craig. Camaros are my favorite, had my 80 Z28 since april 94, i was 3.5 years old. It's my baby. We always had at least one camaro at a time growing up, sometimes two. But i love corvettes too.
Don't Make us wait a week for Ole Melvin show it tomorrow night
if it was flooded and the odometer was not able to be read, or the battery was dead when insurance looked at it it would be marked with 0 not acual milage and then from that point forward it wouldent matter what it says ,, yes if you brought it to a dealer or service station they would input the 17 k miles and it will log as time going on but on the title it will say not acual milage
Craig, I think you should be very cautious. I was in the Retail Auto industry for over 40 years. Both Wholesale and Retail. If you check Federal Law I think you will find a vehicle can only be written off, or flooded or totaled once. Your customer may be able to place insurance coverage on the car, however I have never been asked if my cars title was clean by my insurers. The problem occures when you file a claim. When the Insurer finds the car has been totaled in past they will not pay, and could accuse the owner of fraudulently obtaining coverage on a vehicle that was previously written off.
Don't ever ever buy a flooded car guys no matter what anyone says it's problems down the line
Flood cars always come back to bite you hard... There is no way they replaces all of the electrical components, and wire harnesses... ITs probably a fire hazard... insurance companies might not insure a flood car for that reason.
Need the next video! I'm guessing it's a bad check.
where and when did the black A8 go?
What a tease
Oh no! Say it ain't so!!
Craig Please post part two!!! Obsessed with the Corvette scammer. We need to know what went down……
Wheres the 2nd video!? Can someone let me know or add a link?😊
Notification gang 💯
by the time part two comes out im gonna forget about the guy.. HURRY UP WE’RE IMPATIENT 😂😂
Yeah Craig! Hurry! I’m drumming my fingertips on the desk top.
Such a B.S.! You never can be sure that salvage car was repaired CORRECTLY.
Loving the videos Craig!!!
quick please
A black guy from NY scamming someone? Totally unheard of 😂😂😂😂
Go back to your village, they’re missing their idiot.
An Italian guy with a little girl Obsession no surprise there....if we're going to use stereotypes just know it goes both ways paisan
Italians like pizza, not little girls. Do your research spook
This guy has a PhD in cars ♂️
that vette has been cursed from day one.
@9:34 Be careful jacking up on the gas-tanks, there are jacking pucks that should be used on the frame.
My bank won’t touch it!
Put a scanner on it and it’ll tell you!
I’ve owned a 2003 Z06 with 50k miles for 4 years now. It’s a GA rebuilt title. I’m definitely no afraid of those cars. I’m ready to sell it now but I’ll be d#€ned if I’ll give it away, I would keep it a turn it into a hot hod before I do that. The car is to nice to modify.
not nice to modify... I have a c5... they need a lot of work to keep up