Just curious, I’m looking to buy this C7Z, but I’m unsure on the price.
2015 3LZ ZO7, 29k miles, stock minus CAI, salvage title due to rear end. The pictures look clean enough, but he’s asking 49,900 for it. I KBB’d it at 55k

 

Never buy a salvaged title , just my opinion. Look for something else.

 

Salvage title is a deal breaker for most people. It makes selling the car really difficult as there is only a small pool of buyers. As a general rule a salvage title is a 30% deduct from the same car with a clean title. YMMV

FWIW - my family owns a salvage yard.

 

If I have no intent on selling it after the fact, would it really be so bad to own it salvage but already repaired?

 

That's a call only you can make, but a $55k car with a salvage title is a $38k car and not a $49k car.

If you do buy a salvage title do your homework and gather every bit of documentation on the repair you can, including before and after photos, as eventually the car will be resold again and the seller will need the info.

 

I usually buy salvage cars from Copart and rebuild for myself and my family- the best cars ever. But I would not resell any as it is just too good of a deal for buyer to save a lot of money without having any skin in repairs. Insurance companies are just bat crazy as they total cars with small fender bender, but it is because of collision shops over charge for repairs and repair standards in insurance industry calling for unnecessary replacement over a tiny scratch or dent.

IMHO some salvage cars are way better than "lemons" with clean titles. Actually, it was salvage title before repair - you can not register car with this title brand, but after repair/enhanced inspection it is reconstructed/rebuilt title, ready to be registered - big difference.

If this car was in use by owner for a while - it is a positive sign. If car was rebuilt and put for sell immediately, you need to check this rebuilder reputation, if any. Some rebuilders have youtube channels or would offer a referral. Any documentation to help with what was fixed, like before pictures. You can use https://autoauctions.io/ to check VIN and see previous auctions and pictures of the car.

BTW, when at fault driver insurance totaled one of my rebuilt cars - they deducted 10% for title brand from the car residual value. So I used car for 5 years for free at 1/2 price and at the end, I collected a small profit. Works for me!

 

It depends... every state is different in how they handle salvage/branded titles. As I mentioned, my family owns a salvage yard, the hot young stripper wife currently drives a badass Challenger with a branded title.

Before you buy a car with a branded title check with your state to make certain the car can be registered and exactly what is required. Also check with your insurance company to make sure they will insure it.

My one word of warning regarding branded titles is NEVER buy a flood damaged car. The water gets in the electrical system and wiring and you will forever be chasing electrical gremlins, many of which are very expensive to rectify and don't show up immediately.

 

Other's can do as they please, however I will not even consider a salvage title vehicle for purchase as I'm more interested in acquiring a risk-free/worry-free vehicle than a super low price.

 

Yep, stay away from those flooded ones - I had one over two decades ago - never again.

 

Run! Away.....

 

If you're not afraid to spin a few wrenches and understand proper repairs and devaluation there is always a price point where the deal is to good to pass up :-)

With that being said I don't think this is the car as the seller is only slightly discounting the price.

 

Salvage title car that is fully repaired calls for at least 15-20% discount vs. clean title car.
Insurance will deduct 10% off the residual value of "clean" title car for title brand.
If the damage was very little, you may settle for 15% discount.
There is no way rebuilder will sell for 30% discount though. And if they do - something is wrong with the car, so steer clear.

 

Too much of a gamble.

 

Those Goozquad boys do a great job of rebuilding cars ! I'm hooked on watching them !!

 

I used to rebuilt cars with minor damage - like hail damage, but after watching goonzquad and vtune - I started to rebuild moderate collision damage and it was the best bang for the buck.

You sure get an inspiration. But if you have hands and knowledge to actually do it - they would help to overcome any hesitation. For me it was: if these boys can do it, I could do it even better.

BTW, you need to be careful with Corvettes though if you think you can outsource frame repair. Normal collision shops would not even look at it. They will refer you to authorized Bentley, Ferrari, Cadillac aluminum collision shops (Karosserie and etc.). And those will charge you up to vazoo, but most likely they will suggest to junk it (as Corvettes are not expensive enough for them to rip a lot of dough), lol. You have to be able to do minor frame work and aluminum welding yourself - mostly limited to frame extensions and whatever is attached to those. Any damage on main frame - forget it, it is parts only car. Nobody will touch it, neither should you.

Actually, this is the "real" reason goonzquad could not find any frame shop to help with even minor C7Z frame extension issue. They end up doing it themselves and this is as far anybody should go with Corvette frame damage.

 

NFW.......pass....

 

I would stay away from a salvage title, there are too many nice unmolested cars out there to be had

 

First - Never use KBB to value a Vette...they dont even offer all the options that could add value to the car.

Second - buying a salvage title is not the best idea unless you dont mind having a heck of a time selling it down the road...and taking a bath (price-wise) when you do. You cant say "Ill never sell it" cause you will at some point.

Third - Download a copy of Corvette DNA onto your phone. Use that tool to value the Vette you are looking at. Enter in the year, options, condition, miles, etc...then deduct 20% from that value - then you have what this particular Vette is worth.

 

You can buy lots of nice, clean title C7s for $50,000.00.

Be sure to look at the forum's for sale section.

 

Buying C7 is not a good idea right now. The prices will collapse as all 2020 and 2021 C8 orders are fulfilled by GM and market is flooded with used C7.
I got 2014 C7 Z51 LT3 for $23K with clean title. Just wait for 6-12 months more and you would get good C7 for way less vs. current salvage price.