plasticweld

Does anyone here have any first hand experience with buying a rebuilt or salvage title C5 I have no idea how much damage you have to do to one to total it. If it has been wrecked can a minor one total the car or does it take a major screw up to it.

I have been thinking about this car and would love our opinions on it. I am in NY so have no idea how big a deal it is to get a new title from ny. I am looking for a driver, but I am planing on doing track days...Thanks in advance...Bob

Description of this 2001 Chevrolet Corvette Z06

Z06 built with 383CI stroker kit, camshaft, long tube headers, Flowmaster exhaust, Vortech intake, RPM stage 4 T56 transmission, stage 3 clutch, and much more! We went through it and replaced every bushing with high quality VBP poly bushings, new ball joints, and tie rods all around. Replaced all the fluids, front wheel bearings, sway bar end links as well. Brand new Bridgestone Potenza tires all the way around too. Sounds great with lopey idle. Car came in with about 15K miles on the engine build and transmission. Previous owner lost control and hit a curb that resulted in it being written off as a total loss. No frame, or subframe damage. Wheels were damaged as well as one of the balljoints. Everything was replaced and we installed a set of genuine GM Speedline wheels and got alignment done. It all checked out good and we have the alignment report sheet in hand. We built it to keep and drive for the summer and have put 3000 miles on it but do not drive it enough to justify keeping it. Great looking car that catches alot of attention. AC blows cold. It is not perfect inside or out but a ton of car for the money with previous owner spending more than $15,000 on the engine and transmission build. Could use a good ECU tune and some TLC. Priced accordingly. It has been inspected and will be sold with a Michigan rebuilt title.

ls777z

With an older car it doesn't take that much to total a car, no matter what it is. As long as you understand that when you decide to sell it chances are you will be selling it for a loss. I would almost bet that the car would have to be inspected by NYS DMV before they will issue a title but if it was rebuilt correctly it shouldn't be an issue.

c4cruiser

Insurance companies will usually not pay for repairs that exceed the book price of the car at the time of the accident. If the car has a lien on it (car loan usually), the bank or CU can sell the car back to the registered owner and the state where the car is registered will then issue a salvage or rebuilt title. It's very difficult to get a title where the salvage part is removed.

You should contact the New York DMV to see what the procedure will be for getting a salvage/rebuilt title in your name. You may have to get a vehicle inspection prior to NY issuing plates and a title. If you are going to fully insure the car, check with a number of companies to see if they will even do that.

While the car sounds like it's been gone thru and could be a fun track car, I would keep looking for one that has a clean title even if it means buying one that is stock or maybe just a few of the mods listed. Things like tires and wheels, suspension bushings, shocks, and even a good alignment can be done on any comparable car.

You didn't mention what the seller is asking for the car, but you should look at comparable cars to determine a reasonable purchase price.

tmirisola

If at all possible you should buy a car with a clean title. Some of the cars with a salvage title are inviting. IMO a Corvette that has been in a flood I would never touch. IMO too much could be and go wrong due to the electronics. A salvage vehicle from an accident then repaired would be a better choice if you were going that route. A C5 today doesn't need much damage to total it. A quarter panel accident could total the car easily.

If you are looking to buy a salvage car with the intent to save a big chunk of change and not sell it in the future, you could make out in the deal.

And as posted previously. Get the Vin# and contact your insurance carrier & your local RMV. They all have rules pertaining to salvage vehicles.

Good Luck :-)

deejbee

IF what he wrote is true, sounds just like suspension damage which definitely can write a vehicle off. If it were "me" I would take it to a good bodyshop and have them go over it. Wouldn't be hard to tell if there was any structural damage if you know what to look for.

And it wouldn't deter me at all if it were repaired properly, and the price reflected the fact you are stuck with a car that has a "story" to it which makes it harder to sell down the road. It would have to be really cheap for me to even look at it.

knewblewkorvette

Hi Bob,
What's he wanting for it? It better be a heck of a bargain to go though the hassle/depreciation of a salvage car.

Phanni

Salvage cars can be a headache of a real bargain. My 2001 is a salvage car, that I and a friend rebuilt. It was fresh water flooded with carpets and BCM getting being submersed. Nothing else was damaged and the entire cost to me was a couple of thousand. I've had the car for over 5 years with no electrical (or anything thing else from the flood) issues. I changed out the carpets and the BCM (needed to reprogram) cleaned it and have enjoyed the car very much. I also have a 2014 and love both cars. The 2001 has pretty much become my daily driver. I understand the resale value is hurt by the savage title, however, at this point,I am way ahead.

plasticweld

First, I wanted to thank you guys here at the Corvette forum for being friendly and helpful. Lurking here and doing some reading before joining and finally deciding what kind of car I wanted to replace the 500 SL was made easy by the other members here and how willing they are to share info.

They are asking $13,000 for the car. If the motor was built the way it is described, then it would make a good track car. The part that scares me is that it says it needs to be ECU tuned which means it is running rough...that does scare me and I not sure I want to spend money on something that needs a motor.


I will share what I want and let you guys share what you think will work best. I wanted to find a higher mileage z06 spend 16,000 to 17,000 have a decent car that I can enjoy driving and still run at the track. I doubt I will insure it for collision, I can afford to replace something like this if I roll it up in a ball.

If I go with an older FRC and say spend 10,000 and then do exhaust, intake cam, valve springs and or possibly heads. Plus the clutch that would need to be replaced and then tune the car it seems like I would have just spent $5000 and then only have a car worth $12,000 maybe. I looked at the way this car was spec with motor, trans a clutch and figured that to duplicate that I would have far more into it than what the car was ever worth.

I am not after a pristine car, but one that I can drive and enjoy and if it gets a scratch it's not the end of the world. I just sold the benz and any time there was a tiny scratch or it needed something mechanical the costs killed me. I kind of want to go with a car I can just have fun with.

The car posted in in Niles, Michigan which is 8 hours away from me.

Phanni

I'd probably go the do it myself route. That way you'll know what has gone into the build, and not have the need to 'trust' the word of someone else on "it needs a tune'. A build by an unknown entity is always an iffy thing.

knewblewkorvette

DO NOT buy this car. If it just needed a "tune", why don't they do it? Run away. There are lots of C5s out there, be patient my friend.

Dave1

Good advice....

roadbike56

So the seller says there was no frame damage. Based on what? A bunch of good 'ol boys looked at it on a lift and said "Yup that there looks pretty straight"? To determine if the frame is straight it has to be put on a frame straightening machine with optical sighting devices that will determine if the frame is straight. A portable Dozier just doesn't cut it. I've seen cars you would swear had no problem that required major adjustment.
If the suspension damage was enough to total a Z06, then wheels and ball joints are only the visual damage and certainly not enough to total the car. I wouldn't bet any of my hard earned money to find out what the rest of the damage is that wasn't repaired.

plasticweld

You bring up some excellent points.Roadbike, Thanks!

Not4spd

An example of what some have mentioned in regards to not visually looking bad. The attached picture is my Z06 that was involved in a "low speed" rear end collision. By just visually looking at it, it appears that the bumper cover just needs replacement. After further inspection the rear subframe was bent along with the exhaust and some other components. Total cost of repair with labor came to just shy under 13,000. Not to mention the insurance company is having to fork over close to $4500 for loss value of the Z06. I can't imagine the 17 year old who rear ended my Z will be insured by that provider ever again.

RVETTE42

I was talking to a friend last night that has been in the body shop business for over 30 years about this exact thing. How you can buy a almost brand new car so cheap and my question was how can some one put the time in and money too do this to take a totaled car and make the car look like new and come out on top? He told me short cuts wiring harness to replace for instance can be very pricey and take a lot of time to replace instead they are patched up. They also don't always fix every thing that is damaged. You may notice for instance air conditioning dose not work. The seller may say it probably just needs freon. Good luck with that. As always Buyer Beware but especially if your buying a salvage titled car.

sirdano

Was it damage on passenger side? Is it possible that the ECM is damage that is why they think it needs a tune?

kobrak

is a pretty darn good representation of how to do a good rebuild and gives you a good idea of what you are in for. I've done a lot of salvage rebuilds in my life as it was the only way I could afford nice cars. The one thing that has been mentioned before is an absolute, you will never make any money on one, but, I drive my cars into the ground, so resale is not important to me. Most cars go to my kids when I'm done with them If you have more time than money, and like to do puzzles, give it a go.

IMXCITD

Only way I would do it is if I had it inspected and was comfortable with the results and the title status. If you plan to keep it to enjoy and race...that's one thing.....just consider the resale end of it....that will be more difficult. There was some good $$$ spent on that vette in mods and if it's clean and no frame damage....that could be a fun vette to own.

farmington

sometimes when a car is damaged, if the replacement parts are not available from the manufacturer, the cars get totaled. I have seen a few cars that look like they had minimal damage but were totaled.

STaCKKs