Insurance co when writing off a vehicle (total loss) and paying off the insured, must submit said title to the state and it is re-issued as a salvage title (not legal for road use). Vehicle is then auctioned off and could be parted out or bought to re-build. If rebuilt, new owner must have a state appointed inspector complete a recertification of title after inspection for safety and reciepts for parts (to prevent cars from being stolen to sell parts) Then new owner sends recertification and salvege title in to state and recieves a title with either "rebuilt" on it or " previously issued a salvage title" typed on it. Any loan institution and/or insurance co that doesn't factor the loss of initial value in is a fool. Loan and settlement values are always based on actual sales records or "book value" of all "rebuilt" vehicles sold and not "all" vehicles. I built them and sold them for 20 yrs. Got out of it for all reasons listed above. Not to mention the harassment from inspecting officers who didn't think it was becoming of them to have to do this. I've had a lot of cars/trucks that I couldn't have afforded any other way . Now-a-days I just don't see the profit margin and you had better plan on driving the wheels off it before selling to come out financially. Build just one and sell it and have someones daughter have an accident in which the air bag fails to deploy and causes more injuries and/or death, and I don't envy you. Basically you "own" that vehicle and any of it's safety related problems forever.
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Today's Featured Article - Show Coverage: Central Illinois Strawberry Festival - by Cindy Ladage and Janna Seiz. Every year the coming of summer is highlighted by different events for different people. For some, it is heralded with the end of school, tilling the garden, or completion of the planting season. To us, connoisseurs of find food, antique tractors, farm toys, crafts, and downright fun, the annual Strawberry Festival means summer is here. Every year, in Carlinville, Illinois, the Macoupin County Historical Society and the Macoupin Agricultural Antique Association team up to fill th
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