Hi folks, I've been lurking here for a couple weeks and just registered the other night. This is a great site with loads of information and helpful people. I've taken corvette fever again, I've had them in the past but it's been quite a while. I've had a 65 stingray coupe, 62, and a 69 big block convertible. Loved them all. So I'm not exactly new to the cars. I'm looking at an 07 base coupe 3lt with 11,000 miles on it and it's absolutely immaculate. Victory red with automatic transmission. I'm kinda having second thoughts because this car has a rebuilt title. I know most on here figure it's worth about 50 percent of retail. The seller is an individual and has kept these cars since 1968, bought and sold quite a few of them. I met him at his house and talked with him at length and I feel that whatever he tells me i can put in the bank. I don't think he would bs me over a car. He's getting a little older and said at times he had a little trouble getting in and out of the cars and pretty much he was ready to quilt fooling with them. He showed me the carfax that said it had been in a minor accident. Airbags didn't deploy, no damage to the undercarriage. From the paper work he has with the car it appears that the car was one of the factory rep cars. It was backed out of the garage and thru a fence of some kind requiring two fenders to be replaced and two to be repainted. Again this car is straight as an arrow, the paint looks really good, the interior is perfect. He's asking $19,900. He said it wasn't very hard to total a corvette if it needed much paint work done to it. Personally I don't know and that's why I'm here, to see what ya'll thought about this. He told me and I believe him that the man at the inspection station tried to buy it when he got finished going over the car, it is that nice. Thanks for any insight ya'll can give me on this, I'm not afraid of the car at all but this is going to be a DD for my wife. If it was for me I could keep it from now on and drive my money out of it. If she decides she can't deal with it then I'll have an issue .

Thanks, Stafford

 

If it has a salvage title just be prepared to keep it forever. It's near impossible to sell one to the average person, so please keep resale in mind. I personally would hold out out for a 2008 an up just to get the Ls3. It's wintertime right now I am willing to bet you can find decent mileage cars anywhere from 24,000 to 28,000 with clean titles that we be easier to sell and you won't always be worried about driving a car that's been totalled.

 

Tough one, I've always been against cars with salvaged titles even though I know many good shops repairing salvage title cars and doing very nice work. I don't think I would give almost $20K for a salvage title base 2007 even with miles that low. I just bought a fully equipped 2006 coupe with 40K miles for $21K and it's spotless as well. With deals like this, and I've seen better, out there I think the salvage title will hurt that car much more than what he's asking.

Just my opinion..........

 

so a ten year old car,"it`s absolutely immaculate"and "straight as an arrow"?You know the history and are happy with it,$20k is not alot for what you will get out of it,I would just get it before someone else does?

 

As long as he keeps it, he'll most likely never get anywhere near that back out of the car. Tough call................

 

OP

If you are planning on keeping the car for a very long time, it's not that bad of a deal. I'd say it's still at least $2k high and maybe more. At some far distant point the value curves of non-salvage and salvage cars come close if not intersect. If you sell much before then, you'll both have a tough time finding a buyer and will maybe take a bath.

Were it me, I'd first get an 08 or more for the better steering and then go for more miles on a no excuses car.

 

Rebuilt or salvage branded title, no way I would consider it. In my opinion regardless of how straight, low miles etc the branded title is the stake through the heart for me on this one.

 

OP, sold my '07 base coupe this past summer, June 30th to be exact with 8,800 miles for 28K retail, clean, clear title, and as others have stated,



if you are going to keep it FOREVER, you should try and get if for less than his asking price, and if you are forced to sell it in the future, say next 2 - 3 years, you should expect not only a difficult time selling, but also at a much reduced price.....................

 

Ee cars last forever..don't buy an 11k mile example...forget about a salvage vehicle....who needs the Lottie trial for headaches...

I've got 104k miles on my 2008 z51 m6 stick shift and it's been utterly reliable and runs and looks like new..I've owned it since day one and it's a blast to drive and use. Mines a daily driver since new and I throw snow tires on in the winter....this thing looks immaculate up top and up an a lift...

I wash and wax it weekly all year long...(just a spray and wax in the winter though)

Buy a higher mileage car and drive the thing...

Nobody keeps these cars for ever....drive the car....for a long time etc but for what it's worth...the best part of these cars is how reliable they are and how much fun they are to drive...

If you are doing a garage queen...then stay with the older corvettes...

Just my two cents.

Good luck

 

Personally I wouldn't want a car with a salvaged title. You will always have to answer the question as it why it has it. It will make it almost impossible to get rid of.

 

Niche, dream car for most. Considering a salvage title should not be in the same sentence as "I'm thinking about buying a Corvette." It's like the princess and the pea...it will forever gnaw at you and give that feeling of uneasiness. Heck, when I have a slight chip on the front from a rogue stone, I'm uneasy about that. I can't even imagine settling for something most can only dream about that is not as perfect as can possibly be. But, that's just my opinion and how I prioritize things. If I was buying a grocery getter for the winter...by all means, I'd lower my standards. But a Vette? Not a chance.

 

Salvage title...you have to pass.
No re-sell value as you are finding.

There are too many other Corvette ('07 3lt 11K miles $20K) with no stories available.
Keep searching and good luck.

 

Wow, what a tough decision. . . .

A salvaged title always gives me pause, but that being said, I think in your case, almost $20K is too much to spend for a car branded as such. Additionally and possibly more important, is the fact the car has only 11,000 miles on the odometer. Seals tend to dry out on cars which are that old (ten years) and haven't been driven much. Unless you know for a fact that the owner drove the car once a week for a few miles to keep the seals from drying out, I'd pass. Eventually, the car (if it hasn't already) will develop oil/fluid leaks which can be expensive to fix.

Steve

 

Imho I would pass and check around for a car with a non salvaged title.

 

If it's a nice car and the price is low enough, the salvage title will be a non issue. How low is low enough? I don't know. But what if it was $15K? or $14K? Could you ever lose on that?

 

I would ask to see the repair bill so you know exactly what the damage was and why it has a rebuilt title. Hard for me to believe the car was totaled for just fenders and paint.

 

$20k is too much.

google the VIN # and see what turns up.

Sometimes you can find pics of the damaged car on an insurance auction site.

 

He is asking more than the same vehicle with 80K is worth, and almost every buyer out there would rather have a car with 80K than a salvage vehicle.

Also, I know the CF did not say anything about the "undercarriage"...you got that from him, and you are being very trusting.

If you like it, and plan on keeping it for at least 5 years, go ahead, but I would hope you can get it for closer to $16,500. Just understand that, if you keep it 5 years, and only put 20,000 miles on it, you will be hard-pressed to sell it for more than about $8,000...just my opinion.

Good luck. If you buy it, get some pics for us, okay?

 

Well yes, that's always been the rule. And when you want to sell it down the it will still be the rule.

 

Salvage title = 1/2 of wholesale value
I wouldn't pay more than 12k IF it's as nice as you say it is.

Mark