Rebuilt title
Thread Starter
Heel & Toe
Joined: May 2006
Posts: 17
Likes: 0
From: Lake Placid Florida
Rebuilt title
I am looking at a 87 Vette that has had water damage in a Florida hurricane. The damage was done in 2006 and receipts show damage replaced. Car has been owned and driven since then. Looks good however what does a rebuilt title do to the price?
Burning Brakes
Joined: Aug 2007
Posts: 917
Likes: 2
From: Charlotte NC
It stops banks from loaning money on/for the car and it cuts the resale value to almost 50% of retail.
As far as the car goes as long as it was rebuilt correctly, it should be fine. I don't mind buying salvage title cars.
As far as the car goes as long as it was rebuilt correctly, it should be fine. I don't mind buying salvage title cars.
Race Director
Joined: May 2006
Posts: 10,691
Likes: 71
From: Phoenix Arizona
I've built and driven salvage cars for years, not so much anymore. Insurance companies figure about 30% off of salvage cars for claims. Chance of getting loans on a C4 are pretty slim anyway (loan availability is one thing that keeps C5 values from collapsing).
Race Director
Joined: Dec 2000
Posts: 17,551
Likes: 26
From: El Paso Texas
Here's the thing with Salvage titled cars....we know you will take a hit at resale time, probably a big one....so then it comes down to buying it right. If you can buy it for 50% of a non branded car, drive the crap out of it for a few years, and sell it for 50% of a non branded car, it may work out to be a tremendous bang for your buck.
NOW....flood damage is a whole different animal. Salt water or fresh? How deep was it immersed and for how long? A lot of variables will come into play on this.
Salt water is a deal killer. The car will rot from the inside out.....junk it. Fresh water may be OK, depending on what was soaked and how much was replaced. Electrical gremlins will probably turn up now and then, and may be recurrent.
Don't pay $5500 for this car. C4's (good ones) are abundant and cheap. Even without seeing pics, I wouldn't give more than $2500 for it, and that's if the paint and interior are good and it runs well. $5500 will get you a very nice L98 car, and even a high mile LT1 car with a clean title.
Your call.
NOW....flood damage is a whole different animal. Salt water or fresh? How deep was it immersed and for how long? A lot of variables will come into play on this.
Salt water is a deal killer. The car will rot from the inside out.....junk it. Fresh water may be OK, depending on what was soaked and how much was replaced. Electrical gremlins will probably turn up now and then, and may be recurrent.
Don't pay $5500 for this car. C4's (good ones) are abundant and cheap. Even without seeing pics, I wouldn't give more than $2500 for it, and that's if the paint and interior are good and it runs well. $5500 will get you a very nice L98 car, and even a high mile LT1 car with a clean title.
Your call.
Melting Slicks
Joined: Sep 2006
Posts: 3,194
Likes: 27
From: Monroe Twp, NJ
NO, price is NOT an issue. Water damage may show up months later or years later in the electrical area. Shorts and electrical problems may show up that you will never be able to find. If salt water touched the car even fame damage can result here alco in a short time. My uncle got on of these cars some years back and he an experanced mechanic pulled his hair out with electrical problems. Put you money on a better Corvette that has no issues. $5,000 buys a lot of C4 in todays market if you shop in the right places.
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3rd Gear
Joined: Jan 2021
Posts: 3
Likes: 2
Salvage title
Good evening gentlemen I have a question and was hoping you could offer some good advice I was thinking about purchasing a 2019 Grand Sport corvette with 4K miles on it it has a salvage title from being in a wreck however it’s been professionally repaired and has passed all state inspections and all maintenance is up to date the car looks and drives perfectly owner is asking a selling price of 59k with the car having a salvage title I plan to offer him half of that what’s your opinion should I purchase the car or walk away?
Drifting
Joined: Nov 2015
Posts: 1,332
Likes: 396
From: Clay New York
If they're asking that much you are probably wasting your time offering him half. More than likely he'll sit on it until he gets close to what he's asking by someone who will see the shiny paint and not ask a lot of questions.
p.s. You probably should have posted this in the C7 forum.
p.s. You probably should have posted this in the C7 forum.
Last edited by ls777z; Jan 19, 2021 at 05:37 AM.
Team Owner
Joined: Aug 2008
Posts: 32,964
Likes: 6,462
From: Rochester NY
St. Jude Donor '09 thru '26
Originally Posted by astrong526
Good evening gentlemen I have a question and was hoping you could offer some good advice I was thinking about purchasing a 2019 Grand Sport corvette with 4K miles on it it has a salvage title from being in a wreck however it’s been professionally repaired and has passed all state inspections and all maintenance is up to date the car looks and drives perfectly owner is asking a selling price of 59k with the car having a salvage title I plan to offer him half of that what’s your opinion should I purchase the car or walk away?
Having said that, personally I would want all sorts of proof and confirmation that the car - of any generation - has been properly repaired. You seem to be new to Corvettes - as each of us was at one time - so my suggestion is pay the money for an expert to do a pre-purchase inspection BEFORE you buy. The few hundred that costs you could save you tens of thousands in the long run. Go to the C-7 section, read various posts, learn more about these cars, and ask who they suggest to do an inspection in your neck of the woods.
Last edited by Railroadman; Jan 19, 2021 at 10:00 PM.
