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i am in the market for a Z, and have noticed several cars with rebuilt titles. do they total these cars out often? some are hard to pass up at almost half of the "normal" price. anything i should consider or look for? or just stay clear all together?
and on that note, anything in particular i should be looking for either way? i am looking for something 04-06 range
you get what you pay for, these cars are salvaged for a reason, it takes a pretty serious impact to title a car salvaged, if a car was salvaged from theft then maby i would consider it, but other than that i would stay away
Salvaged cars have no warranty and greatly diminished resale value. If you can live with that plus the expense of restoring the wreck to usable condition - then go for it.
Oh yes. We are very good at destroying 350Zs. Often.
Quote:
Originally Posted by BigRez
you get what you pay for, these cars are salvaged for a reason, it takes a pretty serious impact to title a car salvaged, if a car was salvaged from theft then maby i would consider it, but other than that i would stay away
yeah its kinda weird that thefts get totaled out when they usually have either no or little damage (stripping). im surprised a 'recovered theft' title status has never been created
my brother has owned only one non-salvage car in his life, even his motorcycle is salvage. he scopes em out for minimal damage or already rebuilt, and besides a camber problem on an accord that was rearended, he has never had any issues. if the radiator support is bent a car will almost always get totaled, but i feel like thats such an easy fix to do correctly. the only chance id ever take with a salvage would be if they had full documentation of the car from before repairs were started until completion. if they dont have that or are shady about what damage happened to the car id move on.
well any that i am considering would be already rebuilt, and i guess it would be worth mu money to have it dealer inspected and have the alignment checked(bent frame?)?
one in particular i am considering has been rebuilt and driven for 18k miles by the owner, and is a great price if its straight
Last edited by jeremyh007; 09-12-2009 at 03:21 PM.
In NJ, rebuilt or salvage means it would have taken 80% or more of the car's value to fix it. Careful with rebuilds in Florida though.
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Quote:
Originally Posted by solidfish
Hey scott. Thanks for the ride by the way. Your car and driving is sick. Literally, I was sick. It was like riding a mad rollercoaster. The car turns like its on rails. And the braking was unreal. So many times I thought we were going to fly off the track. Absolutely nuts, but it was great fun.
Part and labor costs are high while the value of used cars is dropping like a rock. That means that a car reaches the "total loss" point a lot quicker than ever. You still have to buy expensive parts to fix it but once you're done, it's still tagged with a low value and it gets hit even worse by the "salvage" label.
Unless you are a pro at spotting the rare "great deal" and have the ability to fix it yourself or at low costs, chances are pretty good you'll put more into the car than you'll ever get back out. Unless you plan on driving it till the wheels fall off, I wouldn't do it.
resale value is crap if that means anything to you at all
i understand that...and that y i can get it for $10k....but i guess my decision is what is it worth in 2yrs or so when i am looking for something else? can i even trade it in?
i understand that...and that y i can get it for $10k....but i guess my decision is what is it worth in 2yrs or so when i am looking for something else? can i even trade it in?
I have considered cars with salvage titles, but so far have yet to buy one. Folks have already raised good issues. Here a list of considerations, some of which have already been mentioned.
1) Good rule of thumb is that a salvage title car is worth half what it would be otherwise, and that is if there is NO residual damage from the event that caused it's salvage status. ie, if a car in like condition was worth $20k on the market, then I would pay no more than $10k for the same car if it had a salvage title. That assumes that all repairs were done properly.
2) Airbag deployment can be a big deal. If the airbags were deployed, or you think it likely that they were, then I would very carefully take a look at the shop that did the repair. Airbags can save your life but only if the work as they should. Airbags are also horrendously expensive and is one area where shady shops can skim a lot of money.
3) Independent inspections are double important with a salvage title. I'd pay to have the car inspected deduct the cost from what I'd be willing to pay for the car.
4) A great thing about a salvage title is that your depreciation hit is much less. If the car is only work 1/2 what it would be without the salvage title, then your depreciation is only half as well.
5) A salvage title car can be a great deal, depending on the car and depending on how much you pay.
Well...in terms of resale value I'm not sure. I never bought a "salvaged" car but I have bought a "rebuilt" car...actually it was my first car which I still miss. It was in 03 and it was a 99 integra. At the time the car was worth 13ish and I bought it for 7.5k...right around the half price range that people are suggesting. But keep in mind this car is now "rebuilt" which means it passed all state inspections and is safe for the roads again. It was a theft recovery as well so no frame damage or anything like that.
It was a great car and I still miss it Thing is I never had to deal with the depreciation. The car was totalled in 07 from an ice storm and when the insurance issued me the check, they gave me the value of the car + tax = $9,000 - keep in mind this is 3 1/2 years after I paid $7.5k for it. That's when I went and got my first Z. So you can come out ahead sometimes. I'm not saying don't buy one, just know that it's very hard to sell - definitely not gonna be able to trade in, and you'll always have fear in the back of your mind that this frame might be bent, etc. I don't want to have to ever go through that so I'm staying away from those cars. But deals can be had!
i asked about any repair documentation he may have on it. guess i could do a carfax on it too see if it lists damages. i can only assume the airbags deployed, as i was told it had front end damage, but was running and drivable when he got it. it has been state inspected and has a rebuilt title, so is it safe to assume the airbags have been replaced?
my thoughts were to take it to the local dealer and spend the couple hundred dollars to have them maybe run some tests, check alignment, etc.
this wont be a daily driver for me, its really a weekend toy car. so that makes it more tempting. harder to justify 18k vs 10k for a toy
08/05/2008 32,616 Florida Motor Vehicle Dept.
Venice, FL
Title #0091134621 REBUILT TITLE ISSUED
Registered as
personal vehicle
Vehicle color noted as Silver
Last edited by jeremyh007; 09-13-2009 at 04:57 AM.
i understand that...and that y i can get it for $10k....but i guess my decision is what is it worth in 2yrs or so when i am looking for something else? can i even trade it in?
lots of salvage cars out there...
Thing is I never had to deal with the depreciation. The car was totalled in 07 from an ice storm and when the insurance issued me the check, they gave me the value of the car + tax = $9,000 - keep in mind this is 3 1/2 years after I paid $7.5k for it. That's when I went and got my first Z. So you can come out ahead sometimes. I'm not saying don't buy one, just know that it's very hard to sell - definitely not gonna be able to trade in, and you'll always have fear in the back of your mind that this frame might be bent, etc. I don't want to have to ever go through that so I'm staying away from those cars. But deals can be had!
