wrongside, a rebuilt title is not necessarily a bad thing. Especially if you intend to drive the car into the ground, and not sell it within a few years.
Did you ask why it had a rebuilt title or what work had been done on the car?
My Dad, in Oregon, bought a very low mileage car with some relatively minor damage from a salvage yard that deals in cars insurance companies are selling. Apparently, with very low mileage cars, insurance companies will often replace them rather than paying to have the car repaired (I'm sure at the insistence of the customer). Since the car was sold by an insurance company, it came with a salvage/rebuilt title. After replacing a door and having some sheet metal repaired (no structural work was needed) Dad ended up with a virtually new car, complete with the new car smell, for significantly less than a cost of a new car.
If the damage was cosmetic, the price was good enough, and I didn't intend to sell the car soon (most people react the way you did to a rebuilt title), a car with a rebuilt title could be a cost effective opportunity.
I'd totally steer clear of it. You may or may not ever find out what it's been through. Went through that years ago (although we never received the title, who knows what it would have looked like) but we eventually found out that it had been stolen and recovered from a river somewhere in NY. Big fight in court over that, and that's when I learned a tough lesson - courts don't care about the unsuspecting public. It's all about the business that tries to sell you crap.