2007 Z51 M6 35K total miles. Salvaged title because the motor was replaced??? Sounds like a possible theft recovery. Has a new GM LS3 crate engine(2K miles) with cam/bolt-ons tuned to make 489rwhp.

-Car is white w/ CF RK sport hood.

What's it worth?

 

Just the engine?? Take a good look at the car! Just bought an 07 coupe for just over 15K and all it needs is a tire and three body panels. If its just the engine and its the correct engine for that car with a salvage title. I think it would be in the low 20's for value. Consider how many miles that engine may have on it.

Salvage title values are very flexible. Most people stereotype "salvage title vehicles" as worthless while others could care less.

So what to do? Know what the blue book value is and get the deepest discount that you can.

 

salvage/R title cars normally are about 30% less.... if theres paperwork to go wti hthe 'brand new engine', that would make it better than taking someones word for it.

If the car is clean, probly worth 20k?

 

http://usedcars.about.com/od/safetyr...lvageTitle.htm

Some great information here..

 

I have never heard of a car having a salvaged title because the motor was replaced. The insurance company doesn't cover the engine.


Oops,
I missed the part it was a theft recovery.That would explain the engine and being totalled part.

 

It would be a Theft Title... which is often considered Salvage in most states.

I would definately have a 3rd party mechanic thoroughly look it over. I looked at an Rtitle vette before, I was checking all the lights on the dashboard when I first turned the key.
The airbag light never came on... which means it was disconnected or taped over behind the dashboard (which is cheaper for the seller than spend 2grand to replace the bags and sensors and reset the light)

These are the kind of things you have to watch out for if the seller/fixer is not honest.

 

That car is ahead if it got a LS3 as the replacement engine seeing as it came with a LS2 originally.

Still it is a salvage car, most banks wont loan full value on a salvaged/rebuilt title vehicle.

 

Thanks for the info, getting crazy trade offers.

 

Rule-of-thumb concerning market value for salvaged titles: One-half book value for equivalent vehicle. YMMV.

 

May also want to check with your insurance company to make sure they will give you full coverage on a salvage title car...

Mark

 

Looking like a lose/lose situation.

 

If your willing to take on the risk, its a win/win.

Buy far cheaper, sell cheaper but still make some money (if thats your goal).

Do you need full coverage? Will the insurance company ask if its a salvage title? If so, what policies are in place regarding a salvage title vehicle? Does your state have anything in place to remove "salvage" from the title?

 

UNLESS the rebuilt's to be used for competion purposes, yes.
Salvaged cars are cheap getting into & much less going out inasfar as 'value' goes. A moot issue to those who'll highly mod & race the car.

 

The longer you own the car, History of ownership, you'll probably pick up some lost initial value.

20% to 30% under retial is about right on value.

 

True,

But the reason why salvage titles generally carry such a discount is NOT because there aren't enough modders or racers in the world:

Problems with a salvage title:
* Salvage title means there was more damage done / labor required to fix than the car was worth. On an average C6, with the blue book value in the 25,000 range, imagine how much more than a simple crate engine swap must have been required!

* No matter WHAT the seller says, you almost never really know what happened to the vehicle unless there is extensive paperwork and photos - and even then you don't know what the private owner did on his own to reduce costs of repair.

*Remember, the insurance company was going to write a check on this vehicle and wash their hands. I'd be interested in why the owner either A: purchased it outright after the salvage or B: purchased his car back from the insurer? Sounds like the guy bought it back as a cheap racer, but he also probably wants to get his mod money for the heads/cam back after he spent a few thousand miles beating on the car.... If you had a "totaled vehicle," and you wanted to get back as much money as possible - would you cut corners, buy junkyard parts, get things "close enough," etc? Many people would... and salvage titles are some of the riskiest purchases of depreciating assets that a person can make! Buyer beware.

* Insuring a salvage title can prove difficult - some insurance companies won't cover you at ALL, while others only offer liability (at a premium). Detailed inspections will likely be required to prove occupant safety at your cost.

* I hope you're paying CASH - almost no loan borrower that I am aware of will finance a salvage title, due to perceived risk of loss.

* Even with a good car inspection, you still may not be aware of hard-to-see repair issues with frame damage, wheel alignment and tracking issues, etc.

* Resale: people sell their cars more quickly than ever. In a down economy, do YOU want to be the guy forced to sell a "great buy" with a vague repair history, salvage title, severely reduced Blue Book value and 50,000 miles on the chassis? You'll get almost nothing for it unless you part it out or practically give it away to some college kid.

* Lastly, there are about a billion low-mile C6's for sale right now, with 2005/06 models regularly going for high $20's. If you want to be "that guy" who takes a risk on a salvage title - you better sure as **** be getting a serious discount on the price.

These reasons are mostly why so many people put a low value on salvage titles. If you're a DIY'er with a smokin' home garage and lots of free time, and you don't mind gambling with $20,000 in cash on someone else's project car - then you can get some real deals. Sure, there are people who take the chance and get a great car at a discount, but there are plenty of people who lose their butts over it too. I just hope you don't plan on getting your money back anytime soon.

IMHO, if you want a nice daily driver or weekend cruiser, but posted here looking for a value - I would stay away from salvage titles.

ETA: to directly answer your question, I'd put market value on a 2007 salvage with 35,000 miles and an LS3 with "heads and cam" at around $20,000 with paperwork on the salvage and crate motor replacement. If the owner did the work himself, I'm not sure I'd touch it for $15K.

From the Kelly Blue Book website:

 

A billion? Can't we say million?
W/couldn't refute one reqson you've posited, all valid.
reason
OTOH those reasons are why I said suitable for racing.
Racers aren't idiots, they're probably buying the car expressly for the chassis & it'll be inspected very close. ALL other parts resold, possibly recouping the cost of the car itself.

Can't speak to other states; however, having lived in IL that state mandates any 'salvaged' title be stamped on the front of the title "Salvaged"
A rare attempt to curtail any shenangans, for Illinois.

So, how're you enjoying your beautiful new-to-you Z06 now that its been a couple weeks? (I know, I know, what's not to like?)

 

Do tons of research before you buy the vehicle. Salvaged titles are killers for resale. I wouldn't expect more than $10k for it. Some insurance companies will not cover them at all and some states won't even let you register it.

 

It's completely awesome. We've been blessed with some great weather so I've been able to get more stick-time than usual. I would definitely recommend the upgrade to all those who are considering it: the feel of a Z06 compared to my Coupe (with Z sways) is just not in the same ballpark - I can honestly say that it's probably a little too much car for me... but I'll try to step up. And revving a 427 to 6800 is so refreshing.

 

how much ?