Salvaged Corvette

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Dec 5, 2009 | 11:13 PM

#21

PaceThis

Race Director

Joined: Mar 2001

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Quote:

Originally Posted by spin-doktor

Theres no reason for it to still have a salvage title if its been repaired. I used to buy insurance totals and repair them a few years back. When you buy the car from the ins. company it does come with a salvage title usually, but when you repair it, and go register the car with a "rebuilt vehicle affidavit" the DMV issues a "Rebuilt Motor Vehicle Title"

- Make sure you have the car inspected my a third party, independent body shop so you know the true extent of the damage and the quality of the repairs.

- Make sure the car coes with a REBUILT title, not a SALVAGE title. If the title is still salvage, you cannot operate the vehicle legally on public roads.

And finally, yes, its a pain in the ,, to try to sell a car with a branded title. People will scrutinize the car much more than usual even if the repair was done properly and the car drives, and looks perfect.

Salvage cars can be operated on roads in most states, I've never had a problem registering one. While you can apply for a rebuilt title, it's still a salvage title, most people never distinguish the difference.

Quote:

Originally Posted by Dans C6

Run away from that car! Do not buy it. You'll have more problems than you want when you try to get rid of it.

Incorrect, there are actually people that look to buy salvage cars. You just can't get the same price for a salvage title as one with a clean title (all other factors equal)

Quote:

Originally Posted by NYC6

I never heard one of these stories with a happy ending.

Quote:

Originally Posted by Just Buy It

I agree 100%. It will end up costing you so much to fix its not worth the effort.

Already fixed...though I agree, don't buy a wrecked car if you don't know how to fix it reasonably. There isn't magical savings - if you buy it, buy all new parts, and pay $90 shop rate for repair, it's going to cost too much...

Quote:

Originally Posted by MDPD23

Thanks to EVERYBODY for your opinions and knowledge. I will keep this thread informed on how I will proceed!!

I've bought and sold well over 100 salvage vehicles. In fact, I usually sell my salvage vehicles much quicker than most dealers sell clean title vehicles. I rarely have a completed salvage vehicle available for more than 2 weeks, and most are sold in less than a week. It's all about the price and quality of the repairs. If you can buy it right, then you can sell it right - which means you'll actually lose LESS than a clean title car. Just make sure you don't pay too much for it.

Dec 5, 2009 | 11:14 PM

#22

PaceThis

Race Director

Joined: Mar 2001

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Likes: 56

Keep in mind the factory warranty is not likely valid on the 08. GM has recently been more vigilant on canceling these. This must be factored into your price.

Dec 9, 2009 | 12:27 PM

#23

MDPD23

Thread Starter

Burning Brakes

Joined: Jul 2009

Posts: 799

Likes: 14

From: Lakewood Ranch FL

FINAL OUTCOME! Decided not to go with the deal. Talked to a lot of people that are familiar with salvage/rebuilt cars. The price for the car ($27K) was not a big enough difference for the gamble. If the seller was closer to me, I might have given it more consideration, but there was 1500 miles between us.
Anyway, Thanks to EVERYBODY for their opinions!