John Welsh said:Fladiver64 (Forum Supporter) said:OK I heard back today and they are claiming the salvage value is $3000, so I said I was not interested in keeping the car as it would have had a certificate of destruction for a title and would not be registrable again. I thought that was too much for a shell so I just took my agreed value, and they get the car.
The certificate of destruction (CofD) is a big deal. That is a FL designation meaning the car can not go back on the road...at least in Florida. Ohio titles do not have a designation for CofD. I am not sure, but maybe Ohio (or other states) would allow for it to be rebuilt to a Rebuilt Salvage title. That would have to be looked into.
The car wont be something for me but it might be interesting that when the car is picked up find out where it is going. It will likely go to Copart or IAA. From there you can watch to see what bidding goes to on those sites.
Same happened to my 128i; I gave $6k for it two years ago; when it got totaled they put the buy back value a little over half of that which wasn't worth it to me. We watched the copart auction and it went for $1700 which was worth it, but I didnt bid.
