When dealing with salvage title
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Intermediate
Joined: Aug 2023
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When dealing with salvage title
I'm new to the world of Corvettes and I will be looking at one tomorrow, assuming it isn't sold. It has a salvage title, but the pictures definitely question that notion. I was hoping to get some advice on what to look for specifically when it comes the Z06. The price is 24K for 27K miles on odometer. Any information or advice would be grateful.
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Intermediate
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I just found out why the car was totaled and rebuilt, the passenger side got hit. I assume my focus should be the structural under carriage and check all door gaps and alignment. The dealer claims that the car is straight and true and that every one there has driven it. Little history based on carfax: totaled 2009, rebuilt title issued in 2012 and 2013; been registered each year after that.
This gives me a little pause for concern since I want to use this as a track car so it'll get beat on. But this also means it wasn't water damage that killed it.
This gives me a little pause for concern since I want to use this as a track car so it'll get beat on. But this also means it wasn't water damage that killed it.
Melting Slicks
Joined: Sep 2012
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From: Fort Myers Beach Florida
Typically, when the cost to repair a car exceeds 80% of the actual cash value, they total it. I have purchased wrecks from insurance companies for 18% of the actual cash value in the past. The diminished value of the rebuilt vehicle is a function of how and who fixed it as long as it was not a saltwater flood car. Could be an ideal candidate for a track car but $24k is way more than a rebuilt C5 is worth. If the mileage is real and it is fixed right $15k is top dollar. Won't matter until you want to sell it. If you have doubts call your insurance agent and ask what they are willing to insure the rebuilt vehicle for. Good luck!
Last edited by DDaaryl; Aug 25, 2023 at 08:37 PM.
Burning Brakes
Joined: Feb 2022
Posts: 818
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From: Bakersfield, CA
Well I don't know what state you live in but in Cali, you cannot buy a "salvage titled" vehicle from a "dealership". If it's one of those dealers that's on a corner where a fuel station used to be then that's another story. Here salvage titles are mostly from the junk yards and they could be wrecked or repo's. Anyway the important thing for me was to find out if the vehicle has any DMV (or whatever it's called in your state) late fees or penalties in arrears. Sometimes that gets to be a pretty hefty sum. Good luck on whatever you decide brother...Cheers!!!
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There’s a lot of these cars out there, so for my money a salvage title is a hard no.
You can find a decent car with high miles at a favorable price that would be a good track donor.
You can find a decent car with high miles at a favorable price that would be a good track donor.
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Intermediate
Joined: Aug 2023
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Thanks everyone for the responses.
The advice to contact my insurance to see what they would insure it for is sound advice I didn't think about. I was going to call Monday to make sure they would insure it but didn't think about asking up to what amount (thanks snaitaz).
I just test drove it and it drives straight, shifts clean, no current codes, some historical ones that I'm not really concerned about, save maybe for a BO-RFA U1255 code that popped up.
After driving it for the first time I now know why owners of these cars say it is a visceral experience. The ride was stiff and you can feel everything, each little bump and whatnot
, the test drive was fun!
The advice to contact my insurance to see what they would insure it for is sound advice I didn't think about. I was going to call Monday to make sure they would insure it but didn't think about asking up to what amount (thanks snaitaz).
I just test drove it and it drives straight, shifts clean, no current codes, some historical ones that I'm not really concerned about, save maybe for a BO-RFA U1255 code that popped up.
After driving it for the first time I now know why owners of these cars say it is a visceral experience. The ride was stiff and you can feel everything, each little bump and whatnot
, the test drive was fun!
Thread Starter
Intermediate
Joined: Aug 2023
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Likes: 3
Yes, the car is stock. I have spent some time investigating the rebuild that took and so far can't find any relevant information regarding who completed the work. I'll try and contact the Kansas DMV Monday to see if they can tell who did the rebuild. If anyone knows of any other means to find the history of a rebuilt title, please let me know.
Thanks again.
Thanks again.
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Technically this is a Rebuilt title so its not exactly salvage anymore (have no clue if that changes anything for the price). The only information I have to go on for price fairness is based on what i see for sale right now. This is car is ~10K less than others of its mileage. This would be my first hunt involving a rebuilt title so I'm pretty green on this specific topic (but trying to do my due diligence). I just don't want to buy a car that could have an undiagnosed micro fracture in the body or sub-frame(s). While the car has been driven for the past 10 years, according to the dealer it has been driven in a casually manner this whole time so the car hasn't been stressed.
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Technically this is a Rebuilt title so its not exactly salvage anymore (have no clue if that changes anything for the price). The only information I have to go on for price fairness is based on what i see for sale right now. This is car is ~10K less than others of its mileage. This would be my first hunt involving a rebuilt title so I'm pretty green on this specific topic (but trying to do my due diligence). I just don't want to buy a car that could have an undiagnosed micro fracture in the body or sub-frame(s). While the car has been driven for the past 10 years, according to the dealer it has been driven in a casually manner this whole time so the car hasn't been stressed.
And exactly how would the dealer know the manner in which it was driven?
Time to punt.
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Oh, something I should have done first. Here is the ad for the car in question: https://www.pricedriteauto.com/inven...rvette/111420/
Apologies for not adding the ad for context.
Apologies for not adding the ad for context.
Thread Starter
Intermediate
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From what I gathered by talking with them for a couple of hours they appear to be very personable and based on what they knew about the guy that traded in the car they seemed to have gotten to know one another. With that said I understand the skepticism, dealers aren't known to be all that trust worthy and I'm aware of that and that is why I am looking for answers to how/who fixed this car, and what actually happened to it (there are some things I'm coming across that don't make sense, like AutoCheck report says there wasn't an accident reported even though it was signed off as totaled).
Pro
Joined: Dec 2021
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Figure out full retail value and then cut that in half for a salvage or rebuilt title car. If it's done right, then it really only matters when you go to sell it. Personable dealers sell piles of junk every day. There's a reason why used car salesmen generally have a poor reputation.
Drifting
Joined: Mar 2018
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From: New Jersey
From what I gathered by talking with them for a couple of hours they appear to be very personable and based on what they knew about the guy that traded in the car they seemed to have gotten to know one another. With that said I understand the skepticism, dealers aren't known to be all that trust worthy and I'm aware of that and that is why I am looking for answers to how/who fixed this car, and what actually happened to it (there are some things I'm coming across that don't make sense, like AutoCheck report says there wasn't an accident reported even though it was signed off as totaled).
Thread Starter
Intermediate
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Thank you to all for all the advice and help. I decided against this car as it has too much sketchy non history. I could not find out any information regarding anything about the rebuild and how it was damaged because apparently whatever happened to the passenger side (allegedly) was not even reported to the police.
However, I did find one in town for a few thousand more (and more importantly clean title) and assuming all goes well I'm picking it up this weekend
However, I did find one in town for a few thousand more (and more importantly clean title) and assuming all goes well I'm picking it up this weekend