Success with salvage?

From time to time I come across an otherwise sweet deal on a car when I see that it has a salvage title. These listings typically come complete with some sort of description of what little work was done that prompted the salvage/rebuilt moniker. I thought cars typically had to have damage equivalent to a certain percentage (~50-75%) of the value of the undamaged vehicle in order to be classified as salvage. This always makes me question how honestly the seller is describing the damage.

Anyway, I'm wondering what kind of success people here have had with salvage vehicles or if they avoid them like the plague. For ~25% off market value, it certainly seems worth investigating. I heard once that a wrecked vehicle has many, many times the probability of a non-wrecked car of getting into an accident. Unless there is frame damage, perhaps hidden, are there any other reasons (other than water damage) to avoid salvage vehicles? Given the tainted history, it seems logical to have a mechanic and/or body guy review the repairs.

Dont buy it if you plan on reselling it later. If you plan on driving it into the ground and can have it checked by someone who REALLY knows cars, its not a bad way to go.

I've owned a lot of salvage. It's just a factor.

93gsxturbo is right.

I bought a Boxster for half price a few years ago because it was a theft-recovery with a salvage/rebuilt title. I've enjoyed the car tremendously, but now I can't GIVE the car away.

+1 on 93gsxturbo.

Also, you have to buy it out right, and you can't insure it past liability, IIRC.

PorschesOnTheCheap wrote: 93gsxturbo is right. I bought a Boxster for half price a few years ago because it was a theft-recovery with a salvage/rebuilt title. I've enjoyed the car tremendously, but now I can't GIVE the car away.

If GIVING really was the case hear, I would gladly take it

edit I am only refering to the car, some times having a very dirty mind can be bad

You can definitely insure a salvage car for collision. A coworker had a Miata that had been given a salvage title about 100,000 miles ago. It was a little rough.

One day, driving to work, she rear-ended someone. The insurance company looked at it, decided it was written off (again) and paid her $2300. Then she bought the car back for $300, and fixed the damage for about $400. The car already had a salvage title so nothing changed - except for the $1600 profit she made.

I'm going to start using this fundraising technique.

My Ti once had a salvage title that mysteriously disappeared once it was registered in mass before i bought it.

If I had known it was a salvage vehicle, I would not have paid almost top dollar for a sub-100,000 to that looked really good, but was hiding a lot of repairs beneath it's pretty paint.

I also would not be looking fowards to cutting out the passengerside floor and welding in a new one to repair the rust damage that occured after they welded up the floor after the car had been hit but did not rust proof in anyway.

Other than that, I have had no problems with my bimmer.. and I think it had been either badly sideswiped or broadsided. All i know is the floor on the passengerside is rusty and patched, and that behind the rubstrip on the side is a weld seam

PorschesOnTheCheap wrote: 93gsxturbo is right. I bought a Boxster for half price a few years ago because it was a theft-recovery with a salvage/rebuilt title. I've enjoyed the car tremendously, but now I can't GIVE the car away.

I hearby allow you to give the car to me. Problem solved.

mad_machine wrote: My Ti once had a salvage title that mysteriously disappeared once it was registered in mass before i bought it. If I had known it was a salvage vehicle, I would not have paid almost top dollar for a sub-100,000 to that looked really good, but was hiding a lot of repairs beneath it's pretty paint.

I once bought a used motorcycle from a dealer that had this problem. The problem is that the california pink slip did not show it was salvage. The motorcycle was stolen 3 months later and my insurance offered me 1/10 what I paid for it. After a lot of arguing and a lawyer getting involved, I got full value. I learned that salvage titles do not always transfer between states due to difference on how states deal with it. My motorcycle was wrecked in CA and given a salvage title, registered in AZ for at least 1 year and then reregistered in CA.

Overall, the bike showed no problems in the time that I owned it, but did not look for any evidence of it.

You can insure a salvage vehicle, but in most cases you will pay full price to only receive about 50% of it's normal value if it gets totalled again. Salvage isn't such a big deal on older vehicles, but on newer stuff, I don't feel it's worth the risks.

Keith wrote: You can definitely insure a salvage car for collision.

That depends ENTIRELY upon the insurance company, among other things.

State Farm will not insure a salvage title vehicle for anything other than liability. I had a '92 Caravan I had bought new, and I was rearended. Even though it had low(ish) miles and was garage-kept, their insurance company decided to total it out. I was planning on buying the hulk and getting it fixed until my own insurance company (State Farm) told me they would not insure it except for liability.

Plus, it's a PITA to get a salvage-repair car re-registered in Delaware.

DILYSI Dave wrote:

PorschesOnTheCheap wrote: 93gsxturbo is right. I bought a Boxster for half price a few years ago because it was a theft-recovery with a salvage/rebuilt title. I've enjoyed the car tremendously, but now I can't GIVE the car away.

I hearby allow you to give the car to me. Problem solved.

Your post count is too low, "I" hereby allow you to give it to Dave, I am certain he will even allow you to fill the tank before you drop it off.

^ It also depends on location. Here in Ontario, State Farm is willing to provide full coverage on a salvage title M3. (I declined, but it's a data point) My experience with the M3 has been this: I got a car that was exponentially "better" than anything I was looking at in the price range. It has all the original steel body panels, and it seems the damage was limited to the front bumper area (where the are some details I still need to make right). I know I won't get much for it, but it make for a pretty nice (relatively) modern daily driver in the meantime.

I ONLY buy car with problems, mechanical or cosmetic. Sometimes they have clean titles, sometimes salvage, but either way, I always get a smokin' deal. I refuse to pay full price for anything, especially cars. The title depends on a lot of different factors. I've had a '01 Jetta VR6 with 18k miles that was hit pretty hard with a clean title, and a '95 MB S420 that needed a hood, grille, and right headlight with a salvage title. We sell and finance salvage title cars here at work, and you can definitely get full coverage on them (if you couldn't we wouldn't sell them on time). So yeah, basically just as everyone said, if you plan on driving it for a while, they're fine. If you plan on selling it soon, it will be harder to sell.

Keith wrote: You can definitely insure a salvage car for collision. A coworker had a Miata that had been given a salvage title about 100,000 miles ago. It was a little rough. One day, driving to work, she rear-ended someone. The insurance company looked at it, decided it was written off (again) and paid her $2300. Then she bought the car back for $300, and fixed the damage for about $400. The car already had a salvage title so nothing changed - except for the $1600 profit she made. I'm going to start using this fundraising technique.

I've always thought that too, and had a very similar situation with my miata. The problem is, when you're a good driver (like I assume many enthusiasts on this board likely are) you're so good at avoiding accidents that you rarely get to cash in on this brilliant strategy. There's been several times when I've though, DARN!, why did I just avoid that crash? . Of course, I'm only speaking from a liability insurance standpoint (I have junky cars and that's all I carry) and it has to be a 'not my fault' type of accident...but I'm still too good at avoiding them.

Clem

I've seen cars earn a salvage title for the dumbest things. Typically on older ones, but I can think of some exceptions; I bought a Saturn VUE from an insurance company. Salvage title for being driven through wet concrete. I took good pictures of the "damage" and sold the car for much less than retail and made a tidy profit.

Alternately, I've had some "clean" title cars that have had the ever living crap beat out of them. Bottom line, look it over before you buy.

ClemSparks wrote:

Keith wrote: You can definitely insure a salvage car for collision. A coworker had a Miata that had been given a salvage title about 100,000 miles ago. It was a little rough. One day, driving to work, she rear-ended someone. The insurance company looked at it, decided it was written off (again) and paid her $2300. Then she bought the car back for $300, and fixed the damage for about $400. The car already had a salvage title so nothing changed - except for the $1600 profit she made. I'm going to start using this fundraising technique.

I've always thought that too, and had a very similar situation with my miata. The problem is, when you're a good driver (like I assume many enthusiasts on this board likely are) you're so good at avoiding accidents that you rarely get to cash in on this brilliant strategy. There's been several times when I've though, DARN!, why did I just avoid that crash? . Of course, I'm only speaking from a liability insurance standpoint (I have junky cars and that's all I carry) and it has to be a 'not my fault' type of accident...but I'm still too good at avoiding them. Clem

I've done pretty well on those type of accidents. First was my 944 that a semi truck turned too sharp and clipped my nose while I sat at a stop sign. There were cars behind me so there was no avoiding it. Car was "totaled", they gave me $3,800, then I bought a used fender and front air dam and she was good to go. Then just recently someone rear ended my girlfriend in the '90 325i. The car was "totaled" and they gave me $2,800. I bought a used rear bumper that was the same color. It already had some damage on the quarter that I was planning on getting fixed, and it won't cost much extra to have the tail panel repaired while they're there.

Oh yeah, and since both cars are older cars, they didn't bother with doing anything with the titles. Score.

My mustang had a clean title and was pieced together from at least 4 different cars that I could find evidence of.

I bought a salvage-rebuilt car once - at the time it was 5 years old with 53K miles. Similar cars were selling for $19-20K and I paid $13K, financing 75%.

I had no problems with financing or insurance.

The car had been hit in the rear, I saw 'before' pictures of the damage and knew the guy who repaired it.

As others have said, resale is the biggest challenge as long as you are comfortable that you know exactly what you are getting.

All of that said, I probably wouldn't do it again.

My Golf is a salvage vehicle and carries the same insurance I have on all of my other cars. Not sure on the resale of it, but I do'nt mind driving it for all of it's worth if need be.

This thread was started on my 20th bday lol

Reviving teenagers