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Old 07-27-2013, 11:59 AM   #1
chitownae92
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Default 04 sti rebuilt title

So im looking at an 04 sti with a rebuilt title, they r asking $12k. It has 100k miles, stage 2. Do you guys think that with a rebuilt title that would be a fair price? Im trying to see if he will trade, but just wanted to get some insight.
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Old 07-27-2013, 02:20 PM   #2
cmk82600
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Run. Unless you know the person and and all the facts about the car and rebuild
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Old 07-27-2013, 03:30 PM   #3
HinshawWRX
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No one can answer this for you.
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Old 07-27-2013, 03:48 PM   #4
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I have no opinion on the original question, but some things to think about if you are still considering the car:

- You would need to know the full details of the rebuild and when it was done, and you'd want to have the car checked over very thoroughly.

- Remember that if you ever try to resell it, this issue will come up again and buyers might be difficult to find.

- You should also check with your insurance and state DMV to see if they have any concerns.

- Find out what other STis are going for.

Once you know all that, you can start to weigh the pros and cons.
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Old 07-27-2013, 04:31 PM   #5
sc00by4life
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Quote:
Originally Posted by chitownae92 View Post
So im looking at an 04 sti with a rebuilt title, they r asking $12k. It has 100k miles, stage 2. Do you guys think that with a rebuilt title that would be a fair price? Im trying to see if he will trade, but just wanted to get some insight.
Keep in mind that on top of everything already mentioned, most insurance companies will not insure salvaged or rebuilt titled cars.

Last edited by sc00by4life; 07-27-2013 at 04:38 PM.
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Old 07-27-2013, 05:30 PM   #6
Cathexis
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Quote:
Originally Posted by sc00by4life View Post

Keep in mind that on top of everything already mentioned, most insurance companies will not insure salvaged or rebuilt titled cars.
Yea, you might wanna call them first....
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Old 07-27-2013, 05:32 PM   #7
Jlawless
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Save a lot of headaches. If you're not one of the few who is very well versed in buying salvage/rebuilt cars let alone rebuilt wrx/sti's.. Run away


Run far away and thank god you didn't buy it
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Old 07-27-2013, 05:49 PM   #8
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I thought it was known you don't buy rebuilt titles for driving. Good part car I'd say.
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Old 07-27-2013, 05:56 PM   #9
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It depends on the states. If it's a salvage title and you want to title it in Massachusetts, you first have to have it completely repaired to the insurance list of why it was totalled. Oh, and you have to be a licensed rebuilder. Then you take it to the state police for a reconstructed title application ($75) and these guys are state police who screwed up, so that's why they're assigned to this duty. So if the unamused guy lets you through, you take your reconstruction paperwork to the DMV and register and title the car officially for road use.

There's the hassle involved. Now for value, it's typically 50-60% once the car has gone through that process. So I will have to assume from your $12k number that the same car with a regular title is worth $24k. If I'm correct, the value is about right.
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Old 07-27-2013, 06:02 PM   #10
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VEHICLES (625 ILCS 5/) Illinois Vehicle Code.

(625 ILCS 5/Ch. 3 Art. III heading) ARTICLE III. CERTIFICATE OF TITLE-REBUILT VEHICLES

(625 ILCS 5/3-301) (from Ch. 95 1/2, par. 3-301) Sec. 3-301. New certificate of title for rebuilt vehicle.

(a) For vehicles 8 model years of age or newer, the Secretary of State shall issue a new certificate of title to any rebuilt vehicle or any vehicle which previously had been titled as salvage in this State or any other jurisdiction upon the successful inspection of the vehicle in accordance with Section 3-308 of this Article.

(b) Vehicles more than 8 model years old shall not be required to complete a successful inspection required under Section 3-308 of this Code before being issued a new certificate of title as provided under this Section.

(c) Vehicles designated as flood vehicles that have sustained damage greater than 33 1/3% of their fair market value with that damage shall be required to complete a successful inspection required under Section 3-308 of this Code before being issued a new certificate of title provided under paragraph (5), subsection (b) of Section 3-117.1.

(Source: P.A. 88-685, eff. 1-24-95; 89-669, eff. 1-1-97.)

(625 ILCS 5/3-302) (from Ch. 95 1/2, par. 3-302) Sec. 3-302. Application for title; contents. Every application for a certificate of title for a rebuilt vehicle shall be made upon a form prescribed by the Secretary of State, and shall include the following:

1. The name, residence and mailing address of the owner;

2. A description of the vehicle including, so far as the following data exists: its make, year-model, identifying number, type of body, whether new or used, and as to vehicles of the second division, whether for-hire, not-for-hire, or both for-hire and not-for-hire;

3. The date of purchase by applicant, the name and address of the person from whom the vehicle was acquired and the names and addresses of any lienholders in the order of their priority;

4. The current odometer reading at the time of transfer and that the stated odometer reading is one of the following: actual mileage, not the actual mileage or mileage is in excess of its mechanical limits; and

5. Any further information the Secretary of State reasonably requires to identify the vehicle and to enable him to determine whether the owner is entitled to a certificate of title and the existence or nonexistence of security interests in the vehicle.

(Source: P.A. 92-651, eff. 7-11-02.)

(625 ILCS 5/3-303) (from Ch. 95 1/2, par. 3-303) Sec. 3-303. Application for title - attachments. Every application for a certificate of title for a rebuilt vehicle shall be accompanied by the following:

1. The salvage certificate or out-of-state title certificate previously issued for the rebuilt vehicle;

2. Bills of sale and other documents evidencing the acquisition of all essential parts used to rebuild the vehicle;

3. Photographs of the rebuilt vehicle if required by rule of the Secretary of State;

4. A Certificate of Safety furnished by the Department of Transportation as set forth in Section 13-109;

5. A listing of all replaced essential parts of the rebuilt vehicle, and the identification number of the vehicle or vehicles from which the essential parts originated; and

6. Where the party has contracted for the rebuilding of the vehicle pursuant to Section 3-304, a copy of the contract and the form executed by the rebuilder.

(Source: P.A. 96-330, eff. 1-1-10.)

(625 ILCS 5/3-304) (from Ch. 95 1/2, par. 3-304) Sec. 3-304. Application for title - affirmation.

(a) The applicant applying for a certificate of title for a rebuilt vehicle shall sign a written affirmation which states the following:

1. The applicant
(A) is a licensed rebuilder and personally rebuilt the vehicle;

(B) is a licensed builder and personally supervised its rebuilding; or

(C) contracted for rebuilding with a licensed rebuilder;

2. The applicant personally inspected the completed vehicle, and it complies with all safety requirements set forth in this Code and any regulations promulgated thereunder by the Secretary of State;

3. The identification numbers of the rebuilt vehicle and its parts have not, to the knowledge of the applicant, been removed, destroyed, falsified, altered or defaced;

4. The salvage certificate or out-of-state title certificate attached to the application has not, to the knowledge of the applicant, been forged, falsified, altered or counterfeited; and

5. All information contained on the application and its attachments is true and correct to the knowledge of the applicant.

(b) If the applicant states that he or she has contracted for rebuilding with a licensed rebuilder, the applicant shall submit a statement from the rebuilder, in the form designated by the Secretary, stating that all of the supporting documentation and the contents of the application are, to the best of the rebuilder's knowledge and belief, complete, true, and correct.

(Source: P.A. 96-330, eff. 1-1-10.)

(625 ILCS 5/3-305) (from Ch. 95 1/2, par. 3-305) Sec. 3-305. Inspection fee. The fee for the inspection of a rebuilt vehicle shall be $94. All such fees received by the Secretary of State shall be deposited into the Road Fund.

(Source: P.A. 91-37, eff. 7-1-99.)

(625 ILCS 5/3-306) (from Ch. 95 1/2, par. 3-306) Sec. 3-306. Retention of documents. The original documents required to be submitted to the Secretary of State pursuant to Sections 3-301 through 3-305 shall be retained by the Secretary of State for a period determined by Secretary of State by rule or regulation.

(Source: P.A. 83-1528.)

(625 ILCS 5/3-307) (from Ch. 95 1/2, par. 3-307) Sec. 3-307. Short term permit. The Secretary of State shall issue at no charge a short term permit for any vehicle for which an application for a certificate of title has been made under this Article and which must be driven on the roads and highways of this State to a place of inspection.

(Source: P.A. 84-1302; 84-1304.)

(625 ILCS 5/3-308) (from Ch. 95 1/2, par. 3-308) Sec. 3-308. Inspection of rebuilt vehicles.

(a) The Secretary of State shall inspect any vehicle 8 model years of age or newer for which an application for a certificate of title for a rebuilt vehicle will be submitted, or any foreign vehicle which is or may have been salvage as defined under the provisions of this Code.

(b) The inspection of the vehicle shall include an examination of the vehicle and its parts and of the application and proof of notification, if applicable, to determine that:

(1) the identification numbers of the vehicle or its parts have not been removed, falsified, altered, defaced, destroyed, or tampered with;

(2) all information contained in the application for a certificate of title is true and correct; and

(3) there are no indications that the vehicle or any of its parts have been stolen.

(c) The Secretary of State shall, by rule or regulation, carry out and implement the provisions contained in this Section.

(d) All fees received by the Secretary of State from the inspection of vehicles under this Section shall be applied towards the maintenance of the vehicle inspection program and the personnel costs required for the operation of such program.

(Source: P.A. 89-433, eff. 12-15-95.)
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Old 07-28-2013, 01:40 AM   #11
chitownae92
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All great answers thank you very much for everyone's help on this. I appreciate it.

Thanks

Lem
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Old 07-28-2013, 03:31 AM   #12
Akrexak
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No.

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