Brenda1

How much does a salvage title affect a cars value? Say you have a C4 Corvette that would typically sell for $12,000. If the car had a salvage title, what should you expect the discount to be to make the sale fair? Other than making it hard to sell later, what other disadvantages are there to buying a car with a salvage title?

Hideki

My C4 is a salvage, was a super cheap Z51/J55. The issues you deal with are the reason why it was salvaged (accident/theft yadda yadda) I bought mine because it was cheap and I planned on modifying it, and ruining its value anyways. The problem is selling it later on, it's practically worthless from a collectors standpoint.

i2amanobody

Here is my opinion of salvage title vehicles. RUN away from any salvage titled vehicle. Salvage means that the vehicle was so badly damage for whatever reason, that the insurance company deemed it not worth fixing. ie the damage was way more than the value of the car.

If buying a salvage car already repaired, you have no way of knowing if it was fixed correctly and safely. Unless you are buying for the parts, again, stay away.

Car dealerships, in my area anyway, will NOT accept a salvage title vehicle as a trade in. Many financing institutions will not loan on such a vehicle. Also, you may or may not be able to get insurance coverage on it. (my insurance company will not insure salvage title vehicles)

A vehicle with a salvage title will only be worth pennies as compared to a clean title vehicle.

Just my humble 2 cents.

rocknroller

I'd only consider a salvage title car if I could speak directly with the shop that did the repairs first.

Brenda1

Yes! Better check with Hagerty first...I can't believe I didn't think of that.

1993C4LT1

Brenda, my first C4 was a salvage 93 polo green. Car always had a slight pull to the right. Annoyed me big time. Alignment shops told me the frame wasn't repaired correctly. Stay away from salvage cars, you won't regret it. And yes, it was tough to sell. Nonetheless, that car taught me a lot

Brenda1

I had a polo green 1994. Great car but always overheated.

383vett

Buy the salvage and turn it into a race car with a full cage

Brenda1

Now why didn't I think of that?

JC316

It loses about 20-30% of the value with a salvage title, at least in my area.


Not necessarily. In many cases, they are salvaged simply because of a lack of replacement parts. Saw a thunderbird TC get salvaged for a hole in the nose cone, there was no way of repairing it and you can't find a replacement, so they total it and move on.

The biggest thing with insurance is to get the title rebuilt. In my state that is very simple. I am a used car dealer and I have no issues with a rebuilt salvage.

Lloyd Smale

like was said it deducts at least a 1/3 of the street value of it. Ive had good luck with them though. I bought my first vette a 92 as a salvage. It was a great car and my buddy is still driving it today. It was stolen and drove into a fire hydrant and had to have the front nose replaced. Stolen recoverys are salvage titles so it doesnt nessisarily mean that it was wrecked badly. I also have a jeep wrangler right now that has a salvage title. It was a slow roleover in the woods. Bent the windshield pillar and the role cage and tore up the top. All parts were replaced with new and its been a great vehicle so personaly im not a bit afraid of them. Some banks shy away from loaning money on them but my local credit union obviously doesnt.

WW7

Unless you get a super deal on the car, I would pass.. People always look at a salvage car as something way less desirable then a car with a normal title and never want to pay much for it.... Selling a car with a salvage title would have to be a nightmare because in most peoples eyes it's a damaged car.......WW

DanielRicany

Selling salvage vehicles on a used car lot for close to clean title price is pretty easy. But trying to sell a muscle or collectors car is a nightmare. Only certain people come to look muscle/collector cars and they know exactly what they want and are very picky. Not the same as with people purchasing a regular daily driver. The cars that have sat the longest on the car lot is a 2003 Corvette 50th anniversary convertible with 16k miles, in brand new condition, salvage flood history. And a 1999 Mustang GT convertible with 70k miles, same thing.

We sold a 2009 Ford F150 Lariat crew cab 5 1/2" bed salvage flood history for $20,000.

Don't even get offers for the vette or mustang.

mikeb

There's a bridge in Brooklyn for sale.

Great price, but re-sale may be tough.


Good luck.

MRPVette

I would never buy a vehicle with a salvage title even at 50%off it's normal value unless it was going to be a race or track car.

WVZR-1

There's considerable difference in classifications of "SALVAGE" -

Collision salvage I don't believe is an issue and I've bought many and repaired them. Drove them as long as I wanted and resold without difficulties.

FLOOD

Entirely different situation.

Buying a repaired/rebuilt salvage from someone you know and trust I don't believe should be an issue either. You just need to understand the consequences maybe at "resale". If the repair/rebuild is documented with snapshots and parts invoices it would be a major +.

ps374

My everyday drive was my daughters Galant which was totaled but she loved the car and I bought it back from the salvage company and against the advise of my body shop they rebuit it. The car drives and runs fine because there was no frame damage. Remember a old C4's book value is low so to total a early C4 wont take much damage. My Galant needed hood front fenders and and some patch up work. The car was about 6 years old with about $9,000 damage so the insurance company totalled it. I saw a early C4 that was totaled at the local gas station. it was a black convertable that was hit on the right left front. The left wheel and control arm was broken off, the fender , hood and header smashed. Probably about five or six thousand dollars damage. the paint on the car was no so hot and although I did not see the interior i am sure in was in need of repair. But if you could buy that car for $150.00 what my Galant cost me and did the body work yourself you could have a noce Corvette when you were done it you were willing to keep it. If you took photos you could probably sell it after repairs and get a decent price. Just because it a salvage car does not mean it was repaired wrong. That seems to be the key. how much damage and who did the work. I have been driving my totaled Galant for about 6 years and the AC is still ice cold and everything works fine. It even still looks good.

FAUEE

If it was "worth" 12k, and it was then salvage, I would pay 2-4k for it at most. I'd use it as a race car.

JackDidley

Rebuilt does not bother me. Ive rebuilt several. Keep them for 10+ years and wear them out. Not something Id do otherwise. Could be hard to sell.

Larrye

Rebuilt does not bother me personally, as long as the reasons for and the subsequent repairs are documented. But buyer beware.

Recently one of my techs was diagnosing an air bag light on late model SUV, and discovered the seat belt retractors were tied to the seat frames, that the pyrotechnics in the buckles had deployed, and all of the SIR components (except the actual air bags) needed replacement. Quick check indicated the vehicle had been a total out of state. Customer confirmed salvage status, that it only was supposed to have had "minor" fender damage, indicated they got a great deal on the vehicle, they just wanted the air bag light off. Owners were shocked when they received the repair estimate, needless to say they declined repairs. Two months later, they are still hauling their children around in the SUV.