FS 06 Vert loaded 7K $28,900
11-22-2009, 08:52 PM
#1
Pro
Thread Starter
FS 06 Vert loaded 7K $28,900
Getting ready to store for winter but decided to testing the waters! I have a Monterey Red, tan top and interior 06 convertible for sale with a previous salvage title. Car is completely loaded with 7,700 miles. It has auto, nav, heads up, heated seats, Z51, aluminum wheels, etc. I need $28,900! Feel free to email me at chris@coblentzhomes.com for pictures.
11-27-2009, 01:51 AM
#9
Team Owner
11-27-2009, 07:10 AM
#10
Racer
Member Since: Nov 2007
Location: Lewisville Texas
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Forgive me for asking...
1. At what point is a car considered salvaged ---bad wreck/flood damaged?
1. Do different states have rules that govern when a car is to be salvaged or is it when an insurance company totals it?
Can you give us the backgorund of this vehicle?
Thanks
1. At what point is a car considered salvaged ---bad wreck/flood damaged?
1. Do different states have rules that govern when a car is to be salvaged or is it when an insurance company totals it?
Can you give us the backgorund of this vehicle?
Thanks
11-27-2009, 08:56 PM
#11
Racer
Member Since: Nov 2004
Location: Suburban Washington DC
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Well, if your car is stolen and if the cops don't find it in a few days, you take the title to your insurance company and they cut you a check. If in a couple of weeks they finally find it, the insurance company takes the title to the DMV and gets a salvage certificate so they can sell the car. The car may be an undrivable mess, or it may just have a few dollars damage from when it was stolen. Thats why some theft salvage cars are great deals. After all you are buying a car, not a piece of paper.
11-27-2009, 11:42 PM
#12
Melting Slicks
A Salvage Title is issued on a vehicle damaged to the extent that the cost of repairing the vehicle exceeds ~ 75% of its pre-damage value. This damage threshold may vary by state. Some states treat Junk titles the same as Salvage but the majority use this title to indicate that a vehicle is not road worthy and cannot be titled again in that state.
NOT all states participate. The following eleven states use Salvage titles to identify stolen vehicles - AZ, FL, GA, IL, MD, MN, NJ, NM, NY, OK and OR.
If the vehicle is kept by its owner through a buy-back program, then the vehicle will retain a clean title. A properly restored vehicle is still safely drivable even if it is technically considered a total loss by an insurance company, particularly with older vehicles where even minor cosmetic damage would cost more to fix than the vehicle's pre-accident market value.
A salvage car includes any car that was stolen, in a serious accident, or flooded.
Here is an EXAMPLE of a "salvaged title" from Hurricane Katrina:
This IS NOT the OP's car:
NOT all states participate. The following eleven states use Salvage titles to identify stolen vehicles - AZ, FL, GA, IL, MD, MN, NJ, NM, NY, OK and OR.
If the vehicle is kept by its owner through a buy-back program, then the vehicle will retain a clean title. A properly restored vehicle is still safely drivable even if it is technically considered a total loss by an insurance company, particularly with older vehicles where even minor cosmetic damage would cost more to fix than the vehicle's pre-accident market value.
A salvage car includes any car that was stolen, in a serious accident, or flooded.
Here is an EXAMPLE of a "salvaged title" from Hurricane Katrina:
This IS NOT the OP's car:
Last edited by LBear; 11-27-2009 at 11:49 PM.
11-28-2009, 12:38 AM
#13
Instructor
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A Salvage Title is issued on a vehicle damaged to the extent that the cost of repairing the vehicle exceeds ~ 75% of its pre-damage value. This damage threshold may vary by state. Some states treat Junk titles the same as Salvage but the majority use this title to indicate that a vehicle is not road worthy and cannot be titled again in that state.
NOT all states participate. The following eleven states use Salvage titles to identify stolen vehicles - AZ, FL, GA, IL, MD, MN, NJ, NM, NY, OK and OR.
If the vehicle is kept by its owner through a buy-back program, then the vehicle will retain a clean title. A properly restored vehicle is still safely drivable even if it is technically considered a total loss by an insurance company, particularly with older vehicles where even minor cosmetic damage would cost more to fix than the vehicle's pre-accident market value.
A salvage car includes any car that was stolen, in a serious accident, or flooded.
]
NOT all states participate. The following eleven states use Salvage titles to identify stolen vehicles - AZ, FL, GA, IL, MD, MN, NJ, NM, NY, OK and OR.
If the vehicle is kept by its owner through a buy-back program, then the vehicle will retain a clean title. A properly restored vehicle is still safely drivable even if it is technically considered a total loss by an insurance company, particularly with older vehicles where even minor cosmetic damage would cost more to fix than the vehicle's pre-accident market value.
A salvage car includes any car that was stolen, in a serious accident, or flooded.
]
I once had an Explorer that I had gotten with a salvage title. Worked great for five years and had gotten it at a huge saving. However when I went to sell it it was not easy ..gave back some of those saving but I was still money ahead.
If the repairs were done right and you can see receipts and pictures of the work done, buying a salvage can get you a nice car at a great price !
11-28-2009, 01:04 AM
#14
Team Owner
Well, if your car is stolen and if the cops don't find it in a few days, you take the title to your insurance company and they cut you a check. If in a couple of weeks they finally find it, the insurance company takes the title to the DMV and gets a salvage certificate so they can sell the car. The car may be an undrivable mess, or it may just have a few dollars damage from when it was stolen. Thats why some theft salvage cars are great deals. After all you are buying a car, not a piece of paper.
11-28-2009, 01:59 AM
#16
Melting Slicks
Only 11 states participate in the use of Salvage titles to identify stolen vehicles - AZ, FL, GA, IL, MD, MN, NJ, NM, NY, OK and OR.
If it is NOT one of the above states, then the car was wrecked and/or flooded to the point that damage to the vehicle was exceeded ~ 75% of its pre-damage value.
11-28-2009, 07:28 AM
#18
Pro
Thread Starter
Salvage cars are what they are. Most people buy them and drive them like any other car! You save about $10,000 on the vettes over the same car without a salvage. To some it is worth it to others it isnt!!
I have lowered to price to $27,900!
I have lowered to price to $27,900!
11-28-2009, 10:21 AM
#19
Team Owner
Only 11 states participate in the use of Salvage titles to identify stolen vehicles - AZ, FL, GA, IL, MD, MN, NJ, NM, NY, OK and OR.
If it is NOT one of the above states, then the car was wrecked and/or flooded to the point that damage to the vehicle was exceeded ~ 75% of its pre-damage value.
oh that makes them much, much better vehicles to buy. I brought 3 salvage vehicles up to Canada from California, I know how a lot of these cars are repaired, and you don't want to know, or maybe you do. The amount of salvage/junked cars being brought out of the depths of hell is staggering! As one of the dismantlers/salvage brokers told me...it needs to be regulated as they were pieces of sh*t before they were repaired and they are no better after. Sure, some of them get fixed properly, but a very high % are butchered to make money. And when you finally sell this great deal you got, you are also selling it (if you can get a buyer) for basically pennies on the dollar. To the op, good luck with the sale...been there done that, I will pass.
11-28-2009, 12:52 PM
#20
There's nothing wrong with salvage as long as you can inspect it beforehand. I'd be hesitant to buy one already repaired, but I've purchased wrecked cars before and saved a lot of money over a clear title example.
It's also better on older vehicles (>5 years old) since a minor fender bender will be enough to total it.
If a car is worth $30k-$40k, then it may have underwent some fairly major damage to be totaled. At the same time, I've seen C6 Corvettes at the salvage auctions with minor hits. It may have just cracked a few exterior panels and damaged headlights, etc. Since insurance companies get quotes directly from the dealer, this can add up to $15k-$20k despite being merely a cosmetic repair.
It's also better on older vehicles (>5 years old) since a minor fender bender will be enough to total it.
If a car is worth $30k-$40k, then it may have underwent some fairly major damage to be totaled. At the same time, I've seen C6 Corvettes at the salvage auctions with minor hits. It may have just cracked a few exterior panels and damaged headlights, etc. Since insurance companies get quotes directly from the dealer, this can add up to $15k-$20k despite being merely a cosmetic repair.