So I purchased my 99 4runner last year. I was told it was a clean title (which it is), I was told it was purchased after a minor collision, I saw pictures, ect. There was damage to the drivers rear door and the front bumper. Minor, frame is straight, no rust, doors and all body panels line up straight. Front end, hood, everything is in perfect alignment, so I had zero reason to doubt the vehicle or fear it was incorrect.
I recently found out that Carfax has the vehicle listed as a total loss reported. However, my title is CLEAN. I called the DMV and was completely transparent and asked how this happens. They have no record, nor marks on the title for my truck. She said something like, if the pay out for a totaled truck is under "x" amount, there is no law requiring that it be reported/reaching title record. The damage was again, all cosmetic and has been 100% repaired.
So in general, if you guys were to be looking at purchasing a truck like this, would it bother you? If you can visually see there is no issues, you do any pre-purchase inspection and clarify, how would you gauge this situation? I am looking at investing some money into business opportunity and it would mean selling my 4runner.
I want some general input on what/if I should be prepared to have this hurt my selling price. It's not a stock truck, it's pretty heavily/tastefully modified, so the market group for me is not the "original, top dollar buyer" regardless.
Cliff notes;
Title is clear, carfax reports a total loss.
Loop hole in the law due to low vehicle value, negates report of total loss if the totaled payout is under "x" amount apparently.
I recently found out that Carfax has the vehicle listed as a total loss reported. However, my title is CLEAN. I called the DMV and was completely transparent and asked how this happens. They have no record, nor marks on the title for my truck. She said something like, if the pay out for a totaled truck is under "x" amount, there is no law requiring that it be reported/reaching title record. The damage was again, all cosmetic and has been 100% repaired.
So in general, if you guys were to be looking at purchasing a truck like this, would it bother you? If you can visually see there is no issues, you do any pre-purchase inspection and clarify, how would you gauge this situation? I am looking at investing some money into business opportunity and it would mean selling my 4runner.
I want some general input on what/if I should be prepared to have this hurt my selling price. It's not a stock truck, it's pretty heavily/tastefully modified, so the market group for me is not the "original, top dollar buyer" regardless.
Cliff notes;
Title is clear, carfax reports a total loss.
Loop hole in the law due to low vehicle value, negates report of total loss if the totaled payout is under "x" amount apparently.