Would anyone buy a c5 with a salvage tile? The reason is because it is a recovered thief. I realize one of the down sides, is resale value. This will be my first and only corvette, do to health, I will most likely give it to my grandson, when i'm unable to drive it any more.

 

If you aren't worried about resale value and intend on keeping it in the family - I say do it

 

A lot more information on the car would be a huge help in getting responses from members. Year, mileage, auto/manual, model, overall condition, maintenance records, accident records, and of course, asking price. Any and all specific info you provide will help in getting good opinions from forum members. Best wishes!

 

It's more than just value that is affected.

In some cases, which can also depend on where you reside, you may have to carry specialized insurance. Many insurance carriers will require a specialized policy for a salvage titled car; even further some may not insure it at all. If you have the VIN I would call your insurance carrier and determine how they would cover the car.

I know that for it's age a C5 can be difficult for some people to get into monetarily, but this REALLY is one thing personally I would avoid even if it means getting a car at a much lower price. The Corvette market is way too vast and there are simply way too many possible variables in dealing with a salvage title.

 

Depends what you're planning on doing with it. I bought a salvage title car that was in an accident. After checking frame and making minor, but necessary repairs I'm in the car a whole lot less than if I were to buy a clean title. Mine is going to be a weekend track car/weekend grocery getter. I've been working on rebuilding it for the last 14 months including rebuilding all suspension, repainting frame, rebuilding entire motor, brakes, clutch, etc. I'm not too worried about resale value. I would recommend salvage only for those moderately mechanically inclined as it will need work especially if it has been sitting. Search the forums, even the youngest C5 is 12 years old have some sort of issues. Some can be minor and some can be major. Luck of the draw? Previous maintenance records will help. Mine was own by a police officer who kept records of every stealership visit. It's definitely not an investment piece. I don't think I would recommend it for a first car unless you really want one and have the means to work on it. There's a lot of little quirks in the car that need attention. For me, the build and the learning process is the best and most frustrating part. CF has definitely helped in more ways than one could imagine. Also, depending on where you live, getting a rebuilt title could be an issue with DMV and such. Illinois is known to be a PITA. Either way, goodluck!

 

x2

 

Most legit/large financial institutions will not finance a Salvage/Rebuilt/Lemon titled car either. Probably not an issue here, but of note.

If you go through with it, I'd make certain that the ONLY reason it has a salvage title is due to a theft recovery, (which is somewhat common). BUT be certain to have the car THOROUGHLY inspected by an independent party to ensure you are not buying a money pit. Have it checked for flood, water, accident damage. And remember that the C5 has (balsa) wood in it's floorpan construction. Wood rots if the encasement has been compromised.

 

All very good advice, especially about ensuring that the theft was the only reason for the salvage title. I personally would not buy one unless I planned to keep it for a very long time and I did not sink a lot of money into it. As said, there are a lot of C5s for sale that do not have a tarnished history.

 

A lot of sound advice here. Is owner still driving car? Also, if you can ascertain the insurance company that paid salvage claim, they may be able to advise extent and circumstances of payout. Probably a long shot, but if owner is still insured through them, maybe worth a shot.

Couple of items I feel are relevant to decision: year, mileage and asking price.

As was previously mentioned, there are typically a boatload of C5 for sale at any given time and I am familiar with a number of asking prices and deals closed on pretty clean, 100,000 mile-ish cars at less than $10,000.

 

I will never purchase a vehicle with a salvage title even if it's a theft recovery. I would like to say I never intentionally plan on selling a vehicle, but I never know what path life will take. Even if I plan to keep a vehicle for many years to come, it is possible that at some point in time I will need a form of classic insurance. Finding a company to insure the vehicle may become a challenging task.

 

One nice thing about the salvage title is if the car is straight and it was theft, you could get a serious deal on it. But resale would be the only concern. But you should get 30-50% off the low retail for that year/trim.

 

More info on the car please.

 

Thanks for the replies, I'm not looking at any one vette. I've noticed a few on craigslist and wondered if it was a good idea. I have a budget in the price of 15 to 18, just thought it would make since I plan on keeping it and giving it to my grand son later.

 

You can find a very nice 2000-2004 C5 in your price range, no need for a salvage title vette...

 

 

NO

RUN!

I won't touch it with a ten foot pole!!!

Good Luck to you!!!

 

Ok, now that we have a price range you can work with, forget the salvage, mostly all downside. In your stated range, as pointed out by other members, if you look around some, I guarantee that you can find a nice and very well cared for C5, especially at the upper end of your range. If you read the stickies at the top of the page you can glean a lot of good info that will help with the selection process. Take your time and do some armchair looking via the interweb to get familiar with whats out there and pricing for various models. There are a number of sites to look at but you might want to look at "cargurus.com". Plug in make, model, year range, price range, etc and for sale vettes all across the country will pop up. An easy way to get familiar with whats out there. Good luck and best wishes. PS, When you find something that looks promising, get back to this forum with particulars on the car, lots of super experienced vette folks here to help you weed out the good and bad.

 

Plenty of C5's and C6's in that price range:
http://www.corvettewarehouse.com/cor...EndPrice=20000

They can set you up with shipping. I purchased my z06 2 1/2 years ago from there, and will most likely get my next Vette from there. If JD is still there that's who you want to deal with. No BS and straightforward guy.

 

 

I rebuilt a fresh water flood car, 7 years ago. It needed new carpets and a BCM. It is one of the most solid cars I've ever owned and I got it cheap. I now use it as my daily driver, for golf outings and grocery shopping. It is the car seen in my avatar. It was a super charged 6 speed, it now is without the super charger. I love the car and resale value is no concern to me. 99% of unknowledgeable folks would never touch a salvage car, but those that know a bit, can get a bargain and a hell of a nice car. I'd never touch a salt water flooded car or one with major frame damage. there are a lot of C-5 out there with very little damage that are 'totaled' mostly because the value of a C-5 is now so low that it takes very little damage to total one.