My brother is looking for a new used car and we found a really nice 2007 Toyota Matrix.

The car was in an accident at one point, but it has been fixed and rides pretty well, no major concerns.

But it does have a rebuilt title.

So my question is, are we going to be able to register car because of a rebuilt title? Anything else about it that I should know?

Thanks

 

It should read reconstructed title. Should be no problem registering it. The bank even gives full retail loans for reconstructed title vehicles. If the car is straight, I wouldn't worry about it too much.

 

You should have no problem registering the vehicle, like Al said. However, at least as far as the network of banks and credit unions the dealership I work at uses is concerned, you may run into trouble financing the car. We only have like 2 or 3 credit unions out of a list of over 30 that will even consider a branded title vehicle.

The thing with a branded title of any kind, rebuilt, salvage, lemon, reconstructed and so on, is that you will almost always have trouble selling the vehicle again, or trading it in a dealer for a reasonable amount, but if you're just buying the car to drive it for the foreseeable future and resale isn't a concern, you can get some really great deals buy buying a rebuilt vehicle.

A lot of rebuilt vehicles have been just that, rebuilt, so they are just as good as new, but are still valued several thousand dollars less than the same car would be without the branded title. Just be careful, check it out thoroughly...

 

Yeah, that's my main concern too. My brother is one of those people who falls in love with a car and then 2 years later hates it (he did that with a Fusion).
I told him that he'll have problems reselling it later on and financing it, but I guess he still wants to buy it.

 

Of all the Vehicles to find a rebuilt title for, this is not one I'd deem worth the trouble. Is it like $2000? Because I'm sure there are Matrices that are clean titled for that price. Hell I'd rather take my chances with an old BMW or Volvo. Just my two cents though.

 

It also depends why it is a reconstructed title. Need vehicle history. A flood car will have a perfect body and be a total. Mostly electrical problems that never go away. Collisions are a different story. Before the repairs pics would be nice. Rear end or front end collisions make a difference. Some totals are really not that bad.

 

@Kelsey,
Its actually $8,500 for a 2007 Matrix with 66,000 miles.

@Al,
Based on what I could see, it looks like the whole driver's side was replaced. If you pay closer attention, you can actually see which parts of the car were painted.

 

If is checks outs they can be a really good deal. A friend of mine did this years ago, it is a great way to get a newer or nice car at cheaper price. The deal is though if the buyer is okay with it then it is a great deal because truly the car is branded, if you keep it and use most of it's valued life it really doesn't matter in the end but if keep it a short time then it really isn't a good deal since most people tend to shy away or a dealer will use it against you in a trade. My buddy kept it so he got/will get all the value out of the lower price of the repair title vs a clean car of the same year/etc. and when he goes to get rid of it wether it is a trade or straight sale at that point it should matter the car will have the age/mileage be used up for the most part value wise.

 

A 2007 Toyota Matrix seems like an odd car to fall in love with but that's just me, lol. If it drives right and feels solid, though, he should be all right. Just make sure when he does to sell it later he's straight up with people about it being rebuilt.

 

He wants to stay with a Toyota. He currently has a '94 Camry with 190,000 miles and engine and transmission are still running strong, but body is falling apart. He wants something smaller, so he's currently thinking between a 2007 Matrix and a 2008 Honda Fit (also rebuilt title).

 

Details of what happened to the vehicle and how it was rebuilt mean everything.

Without that, run away.

When you know it, you still may need to run away. (flood damage, low quality work, etc)

 

Does anyone here have a Carfax?

JHMGD38628S066934

 

Jeez, since Toyota only sells a million or so cars a year in the U.S., you can certainly find one with a clean title.

 

Not for a reasonable price.

 

OK, just take the clean title value and divide it by 2, and that is what the car is worth if it looks and drives fine.

 

Prices of used cars are ridiculous these days, especially Toyotas and Hondas. I'm sorry, but a 6 years old Corolla with 120,000 miles is not worth $11,000.

 

I have to agree. Although it's simple supply and demand. Used cars in general are holding more value these days because they're in higher demand and the supply is low.

But my girlfriend bought a 05 rav4 with 105,000 miles from her cousin. KBB had it at 14k retail when it was only $25,000 brand new back in 05. meanwhile my 05 Mazda 6 which has 83,000 miles and cost 26k brand new when my parents bought it is now worth $7500 according to KBB.

Same condition, one owner, same starting price,, yet the rav4 is really worth almost double? Although that is comparing a sedan to a CUV, but still.

 

My '00 Mustang V6 (67,000 miles) is valued at $4,300 according to KBB.

Honda Civics older than that with almost 3 times as many miles go for ~$8,000. I actually saw one few weeks ago when my brother was shopping for a car. 1997 Civic (base, not Si), 187,000 miles, asking price was ... $8,700 (brand new one back in 1997 was $15,200). Unbelievable.

 

Well, we decided to go with a 2009 Honda Fit. We still have to sign paperwork at the bank on Saturday, but if everything goes according to plans - Fit will be ours on Saturday.

I feel we got a great deal, its almost little too good to be true. It's a private sale, car has never been in an accident (this one has a clean title), passed carfax easily, 47,000 miles, automatic transmission and we agreed at $10,000 (KBB values it at $14,000). Some kid is selling it because she claims she needs money to pay off student loan. She said she got it from her parents brand new when she graduated from high school.

I love how boxy the Fit is, it's a great way to maximize the space.

 

And here it is ...