Toy under water?
03-15-2016, 12:55 PM
#21
Race Director
Member Since: Oct 2004
Location: Cape Cod, Mass.
Posts: 18,764
Received 4,558 Likes
on
2,161 Posts
2023 C3 of the Year Finalist - Unmodified
2021 C8 of the Year Finalist Unmodified
2020 Corvette of the Year Finalist (performance mods)
2019 C1 of Year Winner (performance mods)
2017 Corvette of the Year Finalist
2016 C2 of Year
2015 C3 of Year Finalist
That's why I passed on it when I saw the title. I don't like to hear "stories" when I'm buying and I don't like to tell them when I'm selling. The car can be bought for $60,000.
03-15-2016, 12:57 PM
#22
Team Owner
Member Since: Aug 2008
Location: Rochester NY
Posts: 31,358
Received 5,010 Likes
on
2,529 Posts
St. Jude Donor '09-'10-'11-'12-'13-'14-'15-'16-'17-'18-‘19-'20-'21-'22-'23-'24
The other thing is elapsed time since the flood. The longer after the flood the less it would bother me as long as the car did not sit in a barn the whole time. Using AZDoug's '61 for example, any issues from 1979 would long since have presented themself and been addressed. If the flood was last year, that's a different story.
03-15-2016, 07:56 PM
#23
I worked in a major Minnesota auto dealership for many years. Any STAMPED Title marked "salvaged/flood damaged " etc. were DEATH for a vehicles market value. What the vehicle was worth was calculated in penny's on the dollar. Most financial institutions would NOT even lend money with that vehicle as collateral. Most MN dealers didn't want anything to do with them. I don't know if it's like that throughout the entire county.
Last edited by Tmichaelson; 03-15-2016 at 08:52 PM.
03-15-2016, 09:33 PM
#24
Drifting
I worked in a major Minnesota auto dealership for many years. Any STAMPED Title marked "salvaged/flood damaged " etc. were DEATH for a vehicles market value. What the vehicle was worth was calculated in penny's on the dollar. Most financial institutions would NOT even lend money with that vehicle as collateral. Most MN dealers didn't want anything to do with them. I don't know if it's like that throughout the entire county.
DEATH...
The following users liked this post:
Revfan (03-19-2016)
03-18-2016, 09:15 PM
#26
Melting Slicks
UNLESS...you are getting it so cheap, you could part it out and break even...or some similar margin.
There's good buys to be had without taking those kinds of risk...you just have to work at finding them.
Stan...
Last edited by Stan's Customs; 03-18-2016 at 09:15 PM.
03-19-2016, 11:09 AM
#28
Safety Car
Karkrafter
and just recently Myred63
That was ultimately the tipping point for me. If I was getting it just to drive... that would be one thing...
But I am stationed in Germany, and need to get Local insurance (even USAA doesn't insure classics), and the Insurance companies are squirrely here.
A German buddy has a 1952 Chevy Pickup "rat rod"... where the finished is the rusted metal, but its "preserved" with a clear coat.
He couldn't find anyone to insure it as a private car... had to put it in through his buisness vehicles...
No Flood Car for me.
And as an aside, you may not be able to get any physical damage insurance on it.
you might not be able to get it insured , if you do buy.
But I am stationed in Germany, and need to get Local insurance (even USAA doesn't insure classics), and the Insurance companies are squirrely here.
A German buddy has a 1952 Chevy Pickup "rat rod"... where the finished is the rusted metal, but its "preserved" with a clear coat.
He couldn't find anyone to insure it as a private car... had to put it in through his buisness vehicles...
No Flood Car for me.
03-19-2016, 02:26 PM
#29
Le Mans Master
The flood thing doesn't bother me in the least since it was duntov'd after. Heck, a brief flood and proper rebuild is probably MUCH more desirable than a "routinely" used car in the '70's in the snowy states...
As for value, I can see no one wanting late models for less than giveaway prices. Too many to choose from. in this case our cars are already in various states of decay or restoration. If this is a well built car it's no worse than any other.
As for value, I can see no one wanting late models for less than giveaway prices. Too many to choose from. in this case our cars are already in various states of decay or restoration. If this is a well built car it's no worse than any other.
03-19-2016, 02:39 PM
#30
Safety Car
Thread Starter
The flood thing doesn't bother me in the least since it was duntov'd after. Heck, a brief flood and proper rebuild is probably MUCH more desirable than a "routinely" used car in the '70's in the snowy states...
As for value, I can see no one wanting late models for less than giveaway prices. Too many to choose from. in this case our cars are already in various states of decay or restoration. If this is a well built car it's no worse than any other.
As for value, I can see no one wanting late models for less than giveaway prices. Too many to choose from. in this case our cars are already in various states of decay or restoration. If this is a well built car it's no worse than any other.