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Discussion in 'The Lounge' started by UFM82, Jun 26, 2008.
pro,if you check the vehicle out good you can get a good buy as they sale far less than comparable ones without salavge titles.
con, don't buy one if you ever intend to sale it later as it will bring less cash when you do sale it.
I wouldn't hesitate a minute if it has been repaired properly.They are inspected by the State after repairs for stolen parts but not road worthiness so check it over good or have a mechanic check it for you.Look for bent or repaired frame,if it's been welded forget it.
I'm on my second salvage one was a 93 prelude and now I'm driving a 96 accord. Check to make sure the windshield and back window seal. I wouldn't hesitate to buy another one, they may not be perfect, but I get my moneys worth. I sold the prelude at 130k and I plan on driving the accord into the ground. If I ever get the chance I'll buy a salvage tacoma or four runner.
I am currently driving a 2001 Ford Focus wagon that is salvage. I've been driving it almost 3 years and I love it. Paid $2000.00 and put another $300.00 in repairs. It booked for over $8000.00.
We also have a Dodge van that was a salvage and now has an assembled vehicle title. Great van.
Both of my kids are driving salvage Toyotas and they are just fine.
Watch out for these guys out there trying to sell these for the book price, they are not worth that. The repairs that were done on mine, like painting, were not done well at all, but, it is a work car for me so the cosmetics don't matter to me.
Don't buy a flood car ever, they will be trouble down the line most of the time.
In 1997 I bought a salvage GEO Prism (1993) for my daughter. It was just supposed to be a safe ride for a short time. She's still driving it and has had very few problems. I'd do it again for sure.
just because the frame or unibody has been welded doesnt mean u have to forget it. try and find out who did the work and go and check the shop out. the look of the shop could tell u something on how the repairs were done. plus with a salvage title some automotive dealers might and some might not take the vehicle in on trade.
We had one in the family for several years. It turned out to be a great car. Like a couple of other posters said, only buy it with the intention of driving it till it drops because resale will be just as much as a "bargain" to the next buyer as it was to you. I'd just add to make sure the air bags etc are fixed properly with no cut corners on any safety equipment.
I have to buy a vehicle for work as they are taking away my company vehicle. I'm looking at a 2007 Focus for a pretty good price, provided it doesn't sell before I get there. Hit in the front but I don't have much more than that. I was a Ford dealership tech for a long time so I know what to look for but I was wondering about title issues.
I'll drive this thing until the wheels fall off and then a little further. Sounds like it may work out well for me.
My mom drove a 89 Olds for years, loved it, but wrecked it and totalled it. But she didn't want to give it up so they bought it from the insurance company (or something like that) and fixed it, and then it was hers, but with a salvage title.
Then she started getting junk mail catalogs from hot-rod building suppliers. So I teased her for years about my mother the hod rod builder.
Had a 1990 sunbird with a salvage title. Bought it from the company that did the restore work. They had all the paperwork/inspection taken care of no problems. ran great. only downside is that they just dont have as high of a resale value (great for buyers though)
I have a distant cousin that runs a shop and fixes up almost new cars that are totalled and many come with salvage title. Many in my family have bought them and had good luck with the workmanship of repairs. You might check with you bank if you want a car loan as that may not be possible for full amount. Also check insurance; I'm not sure what the deal is there, but insurance company may not insure car for full book value.
My parents bought a hail damaged dodge that had a salvage title on it. They never had a single problem with it. Be careful though as a salvage title does usually void all warranties.
Very good information in this thread. Only thing I can add is keep in mind that the majority of banks won't give loans on salvage title cars. If they do, you'll usually pay through the nose on interest and perhaps have to purchase gap insurance for the loan.
I got rear ended last week and I took my 1991 Jeep Cherokee to one of the person's insurance approved body shops. The damage was minor as the bumper and trailer hitch got pushed down. The body shop started adding all of the equipment together and I came under - barely.
Two days later, I get a call from the insurance adjuster and he told me they found additional damage. The frame that holds the bumper was slightly bent. That put it over the threshold and it was declared a "total loss". I wasn't happy as that meant I would have to get a salvage title and the repairs done before it could be deemed road worthy.
I went back to the shop and got an estimate for the frame to be realigned and new bumper only. It come to $898.00 and I waited to see what the offer would be. The offer came in and I got angry $1313.00 - Less salvage value $460 = $853.00. I told the guy that it would cost me $898.00 for repairs to get me back on the road, plus $50 for a title and another $50 for the exhaust pipe to be repaired. I demanded that those should be included and I wasn't going to pay out of pocket for something that I wasn't even responsible for.
I faxed over about $1000.00 of work I had done on the Jeep over the past year. I have a feeling that this is going to be a long drawn out battle.
No offense, but if that is all it's worth, then that's all it's worth. They offered you what they deemed your jeep worth, they aren't going to offer you more than that since you want to fix it. Now you can argue your jeep is worth more than that, but that's a different story. It better be in pristine condition with some permanant mods for that tune to play.
They totaled your jeep because, basically, it'll cost more to fix than it's worth. And you are finding that out. If the $1000 worth of work over the last year is just maintenance stuff, insurance isn't going to give a flying fudge. If it was improvements, (engine mods, suspension lifts, etc) either take them off and resell them or argue that they are damaged. Telling them, "Hey, I just had the brakes all replaced and the oxygen sensor replaced" isn't going to get you one more dime from them. If you insist on getting the vehicle fixed, then just have the frame straightened. Find a used bumper from a junk yard or a swap meet or something and put it on yourself.
Finally, is it really worth getting all throttled out of shape over a $1300 vehicle? Take the $1300, forget the salvage, and just get another vehicle. Seriously, if you've put a grand into it this year, than that only works out to about 84 bucks a month in maintenance. If you've had it longer, that dollar value is mostly going down, barring a major repair recently you haven't mentioned. In other words, you've got your money out of the vehicle.
I have heard vehicles with a salvage title are sometimes ( not always ) considered a risk by insurance companies and the insurance could be higher cost or they may not insure it , I cant verify that but its worth checking with your insurance company on. There are some used car lots that play dirty and buy wrecked cars in a state where a salvage title is mandatory then transport it to a state where it isnt , repair the damage and get a clean title for that state and then ship it back , and sell as a car that never had any damage. The tragedy is that some accidents are caused by the vehicle falling apart on the road and the owner dosent find out until later that it had once been totalled and then welded back together. Still I have heard of people using their car with a salvage title for years and are glad they bought it.
Cat- the book value of the vehicle may have been $1,300 but go find something in the market for that amount and tell me what you find. I had a 1996 Taurus LX that was one level below the SHO. Loaded with every possible option except the hands free phone. 125,000 miles, near perfect condition with a couple small dings on the passenger door from my son's bike handle, not a crack in the leather seats and an engine compartment you could eat out of. The maintenance on the car was extensive and documented- in fact, I had just replaced both half-shafts, front struts, strut bearings, sway-bar links and lower arm bushings just because the vehicle had the miles and it felt a little loose to me. That was almost $400 in parts alone, plus my time. The car needed ZERO. For my family, the car was as valuable as a new car. In fact, I can't afford a new car equipped how this one was. However, when I sold it, the Kelly book value was $1,725.00 11 years old with average mileage. Was it worth that? No, it was "worth" a lot more- the comparable new car was over $30,000. I sold the car to a couple who wanted something clean and dependable for their son who was going to college. They gave me $2500 for it and said they'd have paid more once they drove the car. The father told me it was the cleanest vehicle they had looked at ANYWHERE in 3 weeks. So, $1,725? Nah. That Jeep may have been "worth" much, much more. So, yes, it is worth getting fired up about. The insurance pays what the market says it is worth but there's nothing wrong with working with them.
I'll give your that the jeep may be "worth" alot more for a number of reasons. But my point was that insurance ain't gonna give a crud. And remember, that $30,000 new car is just that, a new car. No miles, a warranty, a spotless interior without 125k miles on the seat springs and years of sun fading on interior/exterior, etc.
I'd be ticked off if my 92 toyota w/ 185k on it was totaled. It isn't the prettiest thing out there, but it starts and gets 38mpg. That's right, my 92 toyota gets better milage than some hybrids. But it's worth what it's worth as a financial asset. Which isn't much. Yeah, you can negotiate, but I wouldn't expect much, if any.