But the one on the forum has a salvage title. Local one does not!

 

I keep seeing discussions on cars with Salvage Titles, and don't think some people realize that means a car was totaled by the insurance company, and to anyone thinking they are getting a bargain these cars are worth 50% of their book value. And there are a bunch of con artists out there that are buying salvages, retitling them in a state that doesn't have salvage titles, and reselling them in other states for the full price. I got burned on an 84 that way. I wouldn't consider a final offer on a car anymore that I couldn't do a vin verification check on - it is sure worth the money.

 

I am an insurance agent. I do realize this, however when you try and resell a salvage car most buyers do not. My daughter had a salvage car that was better then anything on the market and couldnt give it away. We said "salvage" and people ran!

 

Salvage title:
Ive rebuilt many a Corvette before the "salvage title" came into being.
You're right a slavage title is a black mark against a salvaged car now.

The reason for the salvage title is that a few imigrants would by two destroyed cars and piece them together to make one unsafe car.

Of course they broke apart when invloved in a accident and a few even died as a result of poor repairs.

Hence the salvage title as a warning to prospective buyers.
Some cars should never be rebuilt, but those are always the cheapest cars to buy and the most profitable to rebuild.

A good body shop would not rebuild a car that was destroyed, but not all body shops are the same.
Ever check out how a stretch limo is built. A new car is cut in half and a new section is placed in the center of the halves and welded together. Much the same as a slavage car is built out of two wrecked cars.

The only difference is the new car is not wrecked, but thats the only difference. Insurance companies only care about thier bottom line and not about the safety of its insured.

Its all about liability.
I can asure that every car that I rebuilt was 100% or better.
But because a few foreigners ruined it for everyone, thier is really no point in salvage repairs anymore.

 

You haven't looked at current price guides, have you? Corvette Magazine recently published a C4 Price Guide. Rubies do bring a premium over a "standard" Corvette of that year, regardless of the high production numbers.

 

All a salvage title means is that the insurance company thought the car was worth less than the repairs. The older the car gets, the lower the threshold. My hunting truck was totaled because some guy put a 2 foot gash in the quarter panel. The insurance company figures about 20% deduction for a car with a salvage title. The big problem is that banks/credit unions won't finance them anymore, and since 90% of the public basis their buying decision on what the monthly payments will be.........

 

You don't see many on the roads for such a high production number.

 

It depends on where ya live.
Here (a non C4 town) the Rubies that Ive seen where the same price as a non Ruby.

Price guides are just that guides.
This is a C5/C6 town.
But I agree the Rubies are nice.

 

www.kbb.com 93 cpe with the anniverary package $13,670
Without the package its $13,035

Thats in my area, with 98k miles exec, cond.

 

For me the roadsters are the ones that are stunning,particularly with the optional hardtop (cool roofline)and there were only 2,179 ruby softops ordered. This car is a sleeper, just watch it go.How many corvettes over the years were all one colour other than black.
The other collectibles may make it on horsepower or limited production but this car will make it on looks alone.
TIME WILL TELL!!!!

 

 

I bought a 93 Ruby in Oct. 2007, 6 speed, with 96K miles. Well maintained, stock, with great paint, etc. Mostly garaged for the last 4 years. I paid $9,500. I felt it was a good deal for a 6 speed, not a great deal, but I am happy with it.

 

I think Redwing76 is right.

I would check Kelly Blue Book, NADA and Edmondson's for your zip code for the private party price for a 93 Ruby Red in excellent condition.

Figure out your total worse case costs to get to excellent condition and subtract. Get a shop estimate if possible to support your figured costs.

Show the seller how you got to your offer.

Two thoughts; it is hard for the seller to argue with this approach and second most people need money for Christmas bills right now. So, I would guess this is a good time to buy.

Good luck! And I am betting $7500 is cheap, but I also am told repair and painting a hood is expensive too.