Salvage history on CarFax but clean title?

Knightwulf · #1 09-27-2004, 01:13 PM

I put this as an addendum to my other thread, and then realized that the title of that thread wouldn't garner much interest if it didn't apply to you specifically.

Quote:

Originally posted by Knightwulf
The only major problem with it is that it has a salvage history, but the title is clear. The mechanic at the dealerships' gone over it with a fine-toothed comb and can find no weld points or other indications of a serious accident, so the running theory is that it was reported as stolen, not recovered after 30 days and paid off by the insurance and then later surfaced.

Now... Are there any issues I should be concerned with beyond the obvious with a salvage history but a clean title?

Myetball · #2 09-27-2004, 03:45 PM

If you can get it for a while take it to an independent mechanic or a body shop. A body shop would be more experienced in finding accident repairs. If equipped, a body shop can also verify the frame is within factory specs.

Other than that, if it's mechanically sound and looks alright it may be a deal. Wouldn't pay retail for a car with a salvage title....no matter how pretty it was...may work to your advantage.

Chiketkd · #3 09-27-2004, 10:07 PM

Quote:

Originally posted by Myetball
Other than that, if it's mechanically sound and looks alright it may be a deal. Wouldn't pay retail for a car with a salvage title....no matter how pretty it was...may work to your advantage.

Agreed. Buying a car with a salvage title is a big risk. Resale value is nothing, so if you get the car, make sure it's an extremely good deal!

Most dealers would be lucky to get over 1.5K on an SVX at auction with a salvage title...

-Chike

Knightwulf · #4 09-28-2004, 06:23 AM

Quote:

Originally posted by Chiketkd

Agreed. Buying a car with a salvage title is a big risk. Resale value is nothing, so if you get the car, make sure it's an extremely good deal!

Most dealers would be lucky to get over 1.5K on an SVX at auction with a salvage title...

-Chike

Well, the current asking price is $4000, should I try and leverage the fact that I'll never be able to resell it (Not like I ever would, if ever came a time for a new SVX, it'd be used as a parts car) with the salvage title and get him to drop it dramatically (If the car is in as good of condition as it's purported to be and hasn't been wrecked or flooded)?

Honestly, I'm not overly experienced in the whole used car buying thing and am not altogether certain of all the ramifications here.

Seraph · #5 09-28-2004, 07:53 AM

SVX was sold at the auction a few days ago. It was blue. I can check the price.

Most SVXes are sold for around 900-1500 for a 92 with clean title depending on miles in midwest.

Oh and carfax is known to be wrong MANY times before.

L

Knightwulf · #6 09-28-2004, 07:57 AM

Quote:

Originally posted by Seraph
SVX was sold at the auction a few days ago. It was blue. I can check the price.

Most SVXes are sold for around 900-1500 for a 92 with clean title depending on miles in midwest.

Oh and carfax is known to be wrong MANY times before.

L

Well. This is a '96 with 103k...

Chiketkd · #7 09-28-2004, 11:27 AM

Quote:

Originally posted by Knightwulf
Well. This is a '96 with 103k...

Hmmm...4K for a '96 with 103K and a salavage title.

I paid $5,900 from a dealer for my '96 which had 96.5K miles at the time.

I'd talk the dealer down to at least $3,500. Even if the car was a '97, they'd be lucky to get $2500 at auction with the salvage title. It's there for a reason, and with little or no history, it's hard to know what you're getting into...

-Chike

Knightwulf · #8 09-28-2004, 12:49 PM

Quote:

Originally posted by Chiketkd

Hmmm...4K for a '96 with 103K and a salavage title.

I paid $5,900 from a dealer for my '96 which had 96.5K miles at the time.

I'd talk the dealer down to at least $3,500. Even if the car was a '97, they'd be lucky to get $2500 at auction with the salvage title. It's there for a reason, and with little or no history, it's hard to know what you're getting into...

-Chike

I don't know if it makes any difference.. However, the title is clean, the history just has salvage on it.. I don't know if that's just semantics or not.

Myetball · #9 09-28-2004, 01:44 PM

If you're thinking of spending that kind of money I'd recommend two courses of action:

1. Find another SVX. If you think you can trust a car salesman to tell you the truth about anything you need to take off your rose colored glasses. There's more than one SVX for sale in this world.

2. Find a body shop with a frame straightener and arrange to have the car tested and examined by body professionals. Then, once you find out for sure if the car has had any body/frame work you can deal from there. If the frame is off.....go back to number 1.

Chiketkd · #10 09-28-2004, 04:20 PM

Quote:

Originally posted by Myetball
If you're thinking of spending that kind of money I'd recommend two courses of action:

1. Find another SVX. If you think you can trust a car salesman to tell you the truth about anything you need to take off your rose colored glasses. There's more than one SVX for sale in this world.

2. Find a body shop with a frame straightener and arrange to have the car tested and examined by body professionals. Then, once you find out for sure if the car has had any body/frame work you can deal from there. If the frame is off.....go back to number 1.

Good advice. Salavage titles aren't placed on cars for no reason. Something happened to that car that made it unfit to be titled at some point in its history. The car was obviously fixed and is titled once more - but you could be walking into some serious problems.

-Chike

Chiketkd · #11 09-28-2004, 04:26 PM

Knightwulf,

This is a long story, but worth the 20 minutes to read. It happened to an SVX member years ago when buying an M3: M3 Story

Good luck whatever your decision is!

-Chike

Seraph · #12 09-28-2004, 11:35 PM

Quote:

Originally posted by Chiketkd

Good advice. Salavage titles aren't placed on cars for no reason. Something happened to that car that made it unfit to be titled at some point in its history. The car was obviously fixed and is titled once more - but you could be walking into some serious problems.

-Chike

Agreed. I am not sure about WI but in IL, SOS does check the car up before allowing to have title again. I just saw 2 cars that pulled in with those seeking "trade" today at the dealership. In IL, they put stickers all over the car where people can see it that says the car is rebuilt. Nothing really wrong with them compare to some cars that re rebuilt under the table by local bodyshops to avoid going on the record.

The good thing about "rebuilt" cars are that if you play it right, you can get them cheap. But then again if you are looking at a dealer who purchase such cars are normally a-holes who are trying to rip off unsuspecting buyers because they know what they are bidding on at the auctions.

Earthworm · #13 09-29-2004, 04:36 PM

Quote:

Originally posted by Chiketkd
This is a long story, but worth the 20 minutes to read. It happened to an SVX member years ago when buying an M3: M3 Story

This wasn't a member and probably not even true but it's still a great read.

Chiketkd · #14 09-29-2004, 04:43 PM

Quote:

Originally posted by Earthworm
This wasn't a member and probably not even true but it's still a great read.

By member, I was referring to someone who registered and participated on this board. Whether he owned an SVX or not is irrelevant. I wasn't a member at the time and have no way of verifying the truth behind his story.

Either way, like you said, it's a good read. I've read similar stories in Car magazines...

-Chike

huck369 · #15 09-29-2004, 04:48 PM

A salvage title could be from a flood car...this would show no signs of body work, but will become an electrical nightmare over time...give me a fixed wreck over a flood car any day....I hate electrical issues...