Stallion Auto Loan- Auto Loan, Car Financing, Car Insurance

We just found out our car has record of a salvage title! What can we do?

My husband and I bought a 2001 Honda Accord with 60,000 miles in good condition for around $9,500 about 2 years ago. A couple weeks ago we were in an accident and the estimate for repairing the vehicle is $5,800. The appraiser for our insurance company came out to inspect it and told us it is totaled and informed us that the vehicle has a salvage title. We were not aware of this. The title we have is a clean title and I called the Secretary of state and a state trooper and they both confirmed that it has a clean title and they had no record of a salvaged title. The appraiser told me that there was record of a salvage title in Jacksonville, Florida in April of 2005. Now my insurance company is saying that instead of paying me what it should be worth, approximately $8,000, they are only going to pay us $4,000. Is there anything we can do to fight this? We would never have bought the car if we had known it had a salvage title! Do you have any suggestions?

I’ll try to help you. Insurance companies P___ me off. 1st thing is go to carfax.com and confirm the date and state in which this happened. Beware, more than 1 state may be involved due to various state laws. Threaten and be ready to take the Insurance Company to court. They took your money when they thought the title was clean and now they want to cheap out. You paid premiums based on a clean title and they don’t want to pay back premium claims. If you call another Ins Co today for a new policy, and tell them the car has salvage history and you only expect a claim of half the value if you wreck it because of the salvage history. You will find some interesting info, and just what kind of snakes these people really are. Get as much info like this that you can, even using the same company because their departments don’t talk to each other and when your on the steps of the courtroom, ready to go inside they’ll fold like a card table. It may be stressful and it will take some time but it will be worth it. Then you can go after the people who sold it to you without disclosing it to you in writing, if you choose. Good Luck BS

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