Salvaged 2002 zo6
Thread Starter
Heel & Toe
Joined: Feb 2013
Posts: 17
Likes: 0
Salvaged 2002 zo6
Hey guys I'm new to the corvette world but do have a little knowledge ov vetted just being a car enthusiast in general.. However I'm curious too see your opinions on buying salvaged title cars, my neighbor is selling a 2002 electric blue zo6, it has 48,000 miles and is in good condition ( visibly) I've driven it before and it's very smooth.. He said he would sell it too me for 13,000, which seems very cheap. He also has has the car since 2005, it was salvaged a year after being built. Any help is appreciated!
Le Mans Master
Joined: Nov 2009
Posts: 5,687
Likes: 212
From: Mo.
I wouldn't either. Part of the reason being it takes such a hit on resale as this one is.
Two, it narrows the prospective buyers big time.
If you want to run it till the wheels fall off? Then it might be a good deal for you.
Two, it narrows the prospective buyers big time.
If you want to run it till the wheels fall off? Then it might be a good deal for you.
Thread Starter
Heel & Toe
Joined: Feb 2013
Posts: 17
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Yea, that was part of my hesitation.. It's def a gamble but honestly for 13,000 I may as well keep it and just drive a zo6 for a few years... Like the guy above said.. Untill the wheels fall off lol.... But even if I drive it for a year I don't see how I couldn't sell it for less than 11k... There's not a zo6 anywhere for less than 10k salvaged or not
Drifting
Joined: Feb 2010
Posts: 1,923
Likes: 427
From: Dunedin Florida
I tend not to think only of money, but of reliability and safety as well. A salvage car will be a net loss of money but really anyone who buys a car thinking it will appreciate is just fooling themselves. They key is WHY it was salvaged. If it was a Super Storm Sandy car and its salavaged because the interior got wet then it may be ok. However if its a salvage because it was crashed then maybe not. That also depends on the situation. In your case, it was salvaged as a one year old car so if that salvage was from a wreck then it was a serious wreck with huge damage. A 15 year old vette could suffer a front end collision that only involves replacing a hood, bumper and fender and still be totalled without any frame, engine, suspension or air bag involvement. That one again would be at least a reliable and safe rebuild. Yours may not be safe or relaible because it was likely F'ed up bad. I would investigate more before deciding.
Race Director
Joined: Feb 2004
Posts: 11,039
Likes: 2,592
From: Del Boca Vista FL
OK I will take the devil's advocate position for purpose of discussion. I am not addressing resale value as it is immaterial. You buy a used car it isn't for resale value.
The car is an 02 that was salvaged in 03. It was repaired, is still on the road 10 years later and,according to the OP, drives well.
As we know you don't "straighten" a hydro formed chassis. The General makes replacement sections that can be welded in for repair purposes. When that repair is properly performed what is the problem?
The car is an 02 that was salvaged in 03. It was repaired, is still on the road 10 years later and,according to the OP, drives well.
As we know you don't "straighten" a hydro formed chassis. The General makes replacement sections that can be welded in for repair purposes. When that repair is properly performed what is the problem?
Last edited by BADBIRDCAGE; Feb 23, 2013 at 03:24 PM.
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Thread Starter
Heel & Toe
Joined: Feb 2013
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That was my thought, I just was searching for valued opinions. It's pretty much either hell no or why not your getting awesome bang for your buck... I honestly will prob never resale it...it's ready for pickup today.. So I'll post pics of my new ride of I buy it... Thanks for your input fellas
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I tend to shy away from salvage title cars, but if you can get a good enough deal on this one and it all checks out OK, might be a decent driver if you plan to keep it a long time.
Intermediate
Joined: Dec 2012
Posts: 36
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From: Clarkston Michigan
One problem with a salvage car is the type of damage. If it was flooded, the damage usually turns up years later as the wires and hidden components rust away and deteriorate. If it was collision damage, and it looks good and drives good, the risk is low this late in its life if quality parts were used to make the repairs. It could be a cheaper way to enjoy a decent car. Just know you won't get much when you want to sell it and very few buyers will come calling. Bottom line, a salvage car is a roll of the dice. Sometimes you can win.
Instructor
Joined: Feb 2013
Posts: 108
Likes: 1
From: DeLand, FL/ Savannah, GA
I'm in the process of buying a salvaged Z06 as well. If I was looking for a daily driver I wouldnt be doing it. Instead I'm looking for a track/autocross toy that I will probably strip to an extent. A Z06 for $11k simply for that purpose seems good to me. If I bought anything else, not salvaged, I would still run into the issue of having a stripped track car and wouldnt get my money back anyways.
Till the wheels fall off as someone mentioned.
Till the wheels fall off as someone mentioned.
Race Director
Joined: Feb 2004
Posts: 11,039
Likes: 2,592
From: Del Boca Vista FL
One problem with a salvage car is the type of damage. If it was flooded, the damage usually turns up years later as the wires and hidden components rust away and deteriorate. If it was collision damage, and it looks good and drives good, the risk is low this late in its life if quality parts were used to make the repairs. It could be a cheaper way to enjoy a decent car. Just know you won't get much when you want to sell it and very few buyers will come calling. Bottom line, a salvage car is a roll of the dice. Sometimes you can win.
Klaatu Barada Nikto
Last edited by BADBIRDCAGE; Feb 24, 2013 at 01:17 PM. Reason: Spelling
Drifting
Joined: Jul 2009
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From: Everett WA
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Enjoy it! FYI here are all of the post in the C5 section that has "salvaged" in the title
http://forums.corvetteforum.com/sear...rchid=34253364
http://forums.corvetteforum.com/sear...rchid=34253364
Le Mans Master
Joined: Jan 2004
Posts: 9,488
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From: Knoxville Tn
You need to do a bit more research if you're looking at a salvage car. Find out why it was given a salvage title. Also find out who did the rebuild, and just how much effort he put in to it. For instance, if it was a flood car, did he change out all the computers and all the wiring harnesses, or did he just get it running. If it was a collision car was any frame damage involved, and if so how much.
A $13,000 2002 Z06 that is cosmetically in good shape and runs well and straight would be a bargain if you paln on keeping it. You could easily part it out for more than that.
A $13,000 2002 Z06 that is cosmetically in good shape and runs well and straight would be a bargain if you paln on keeping it. You could easily part it out for more than that.
Racer
Joined: Jun 2012
Posts: 301
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From: Endicott NY
For a few thousand more you can get into a clean title Z, It would have more miles but there out there! I bought a 03 Z last year out of FL with 103k and paid $14k clean title & car-fax, no issue's, just needed tire's & was very happy with it! Stay clear of Salavage cars,,,
Le Mans Master
Joined: Jan 2004
Posts: 9,488
Likes: 1,743
From: Knoxville Tn
For a few thousand more you can get into a clean title Z, It would have more miles but there out there! I bought a 03 Z last year out of FL with 103k and paid $14k clean title & car-fax, no issue's, just needed tire's & was very happy with it! Stay clear of Salavage cars,,,