Found a '96 Miata M, 150k miles, salvage title. Looks very nice in the pictures. It looks like all the M bits are there, don't see any rust. They want $1800.
Found a '96 Miata M, 150k miles, salvage title. Looks very nice in the pictures. It looks like all the M bits are there, don't see any rust. They want $1800.
Probably depends on why it has a salvage title.
How much are torsens going for now days?
$1800 seem tight for flipping it as a plated car and making it worth your while.
If it became a fully caged race car in your garage then yes.
Challenge car.
You've got a budget of $1200 if you can sell enough crap off.
Or your next race car that can sell for money after you are done.
5 speed or auto? Most folks don't check for salvage titles on sub $5k cars. If it looks and drives nice you could make some money, though not a killing.
If it wasn't a branded title, I'd say go for it. As a Salvage / Rebuilt title your resale is going to be 50 cents on the dollar, no matter how nice it is, and it's going to take longer to sell. That makes it hard to make money.
In reply to Gearheadotaku:
5speed
Duke wrote: If it wasn't a branded title, I'd say go for it. As a Salvage / Rebuilt title your resale is going to be 50 cents on the dollar, no matter how nice it is, and it's going to take longer to sell. That makes it hard to make money.
This. Salvage\Lemon Law title brands cut the value of a car in half, period. Not that it's applicable here, but you also can't get an auto loan for a salvage car.
Got a text back from the guy. Car has rocker rust starting. I want a 100% rust free car. Here is the ad if anyone is interested.
http://annarbor.craigslist.org/cto/4914850936.html
Here are the text replies:
The car appears to have been hit on the back and maybe pushed into the car in front. The bodywork looks ok at a glance but is not perfect. No damage to structural areas. It has been driven in the winter. The only rust is on the rockers in front of the back tires. Not visible without kneeling down and only bubbles, no holes. Floor is solid.
I predict the car will sell as quickly as today or at least by Friday.
$1,800 with snow on the ground could become as much as $2,800 once spring hits in 2 months.
Tax, tags, title along with insurance for 2 months can eat into that potential $1k profit quickly.
Buy as low as possible. $1,500 would be better but more than anything, a good look at the car in-person would be critical.
So we all know that these rust from the inside so once you see "minor bubbles" on the rockers it's got a lot. And finding an NA that is 100% rust free isn't so easy anymore now that the newest is 18 years old
When my NB first showed bubbling on the rockers I opened it up. There was little more than surface rust on the other pieces that form that area. Wire brushed the area, added some POR-15 and welded in a patch on the outer sills. They rust there because there is next to no gap between the outer skin and the structure underneath. Water will wick in there and sit right where the spot welds are. I'd take a good look at it and see what a little patching would do.
....and John appears to have been right, the ad has disappeared.
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