skybolt31

Ok, I know it isn't a good thing, but I am looking at a car that was "water damaged" given a salvage title, it was inspected and given a rebuilt title. The registry says no problem, they will give me a rebuilt title also.

So how much should this affect the value of the car? I am not buying as an investment, but someday it will be sold and I am assuming the rebuilt title will hurt.

kalister1

Every time this comes up I think it is about 50%. All the electronics on these cars are hard enough to T/S, let alone after it's been under water. IMHO!
But if the price is right, go for it. Just be prepared when or if you try sell it.

VETTE-DUDE

They way I understand it is, if "you" check out the car or a mechanic and really think it's a "keeper", purchase it...just remember, alot of ppl steer away from rebuilt and/or salvage titles..so may be very difficult to sell, if you place on market...

zr1fred

Insurance companies figure 15%- 25%. Under $5000 the salvage doesn't hurt as bad. Generally speaking the more the car (non-salvage) is worth, the more you deduct,usually about 33% over $10,000. There are several kinds of water damage. Fresh water, salt water, submergence, etc. Most knowing people would rather have collision damage than flood on a newer car which has alot of electronics. I'm assuming that by registry you mean Dept of Motor Vehicles. They will give you a title as long as the car meets safety and emission standards, they are not certfying the condition of the car beyond that. I have built and driven salvage cars for years so I have no specific problems with them, they can be a good way to get a specific car cheaper. Lending institutions won't lend money on them, and some insurance companies won't fully insure them. I would only consider a flood car if a.) you can work on electronics yourself, b.) you know the type of flood and the kind of repairs done. Most flood problems show up months and years later (bad grounds corroded connectors, etc. and then as gremlins alot of times)

Frizlefrak

A salvage or rebuilt title will discourage a lot of people from even looking at the car, which is a double edged sword. You can often pick up a really good vehicle that John Q wouldn't touch with a 10' pole....or you can wind up with a real piece of crap. Do your research thoroughly....and remember you'll take a big hit at resale time. If you plan to buy it and drive it 10 years, you probably won't even notice much of a difference at resale that with a "clean" title.

Salt water damage presents a whole different element.....rust. Salt water will greatly accelerate rust formation, and odds are it got into places that you might not ordinarily take apart. The car could literally start rotting from within.

As for fresh water damage, it all depends on the severity.

Do your homework and you might wind up with a bargain.

10.5Vette

I bought a SSEi Bonneville that had a salvage title. It was a great car and I planned on keeping it awhile. The problem came when some idiot pulled out in front of me on a 55mph road. The Bonny ended up totaled and the insurance company ended up paying me about $3K under what a non salvage title one was worth. But the rates they charged were has if it had a regular title. Good deal for insurance companies.

Sean Dunshee

Also a lot of insurance companys will only let you get liability insurance and won't cover you at all in an accident for damages to your car. Like was said above, there are a lot of people that won't even look at a car with a salvage title. I would figure close to half the value especially if you are buying, the car is only going to go down in value while you have it so I would try and minimize my loss. I would only buy it if its just a GREAT deal...other wise why not buy one without a salvage title. C4s are a dime a dozen right now. There was a gorgeous black with red int. 91 coupe on Craigslist in San Diego yesterday that sold in a few hours for $4000. JMHO

DaleD

I'd never buy a car with a salvage title. At least not one this old. Unless I knew who rebuilt it, or had some kind of warranty.

5speedC4

That is an angle I had not considered.

I know I had a camaro with a salvage title, never again.

It drove fine for 30,000 miles.

One day I have a small accident.
I take it to a body shop who not only repaired the damage, but put it on a laser frame straightner at no extra cost.

When they were finished putting the frame back to spec, the rest of the car didn't fit anymore.

The car wouldn't come out of park if you were on a hill.

The electrics were suddenly shot........the heater/ac fan didn't draw the correct current and smoke came out of the dash.

The car no longer idle'd correctly.

The car was not worth owning after the body shop resolved the issues with the frame.

The car was fine with a bent frame before the laser alignment on the frame.

I had to have a reliable car to get to work and back everyday.

I ended up trading it in for a new dodge pickup in 2002.

That was another screwing from dodge like you wouldn't believe.

But long story short was they gave me 30% less for the car than normal.

Gl!tch

Yeppers. I bought my 93 that has a salvage title from TX freshwater flood in 2000. Couldn't get the particulars. I paid $6K for it this year. So far, the only electronics problem that I have is my digital speedo goes hooblyboobly on me from time to time. Got a new instrument cluster from Jsquared to replace it. When getting inside the door, the PKE antenna looks as though it has corrosion on it albeit that could happen from the 15 years of weather. Other than that I have put another $6400 into a new jasper engine, bearing assemblies, seat covers, trim parts, radiator, and brakes. All of which I think were just due to the PO being an idot and only "likening" to the idea of having a vette and not taking care of it. Knock on wood that I don't have more electronics problems.

lockmart

Wouldn't touch one with a 10 ft pool as a buyer. There are so many clean history cars for around $10K why bother.

skybolt31

Thanks for the great answers, the car in question is acutally a C5, I am thinking of selling my 86 with 90K on it to get something a little newer. A friend has a 99 with 35K on it, it looks good, he has had it for 2 years, has an oil pressure indication problem, but I think that is very common and an O2 sensor problem. He is looking to get 15K for it. It seems like a cheap price to me, but not really cheap enough if I don't keep it forever or run into ground problems. Lots more electrics in a C5.

zr1fred

Look around, for that money you can buy a C5 with a clean title. It's a very soft market out there, and almost no one is getting asking price. That car (admittingly not knowing it) is a $12k car, and dropping, probably $10k in a year if not already.

lockmart

You'll most likely need to find a 97 with 80K miles to get it for 15K and clean title but I'd still go for that one.....

Sean Dunshee

A guy in my Corvette club lost his job and needed to sell his Vette fast (had I known before hand I would have jumped on it) it was a 98 coupe, the car was perfect with 90K miles and he sold it for $5900...with a clean title. So they are out there especially in this market....RUN from that salvage title....and like the guy up above with the 93 salvage paid $6000 for it and put $6400 more into it??? CRAZY There is a LOW mile 92 on the forum for sale that has 22000 miles and I think he was asking 13,500 or something.