View Full Version : Would you buy a salvage Corvette?


s10blaza
11-29-2007, 09:38 AM
A guy offered to sell me his car at work yesterday, he drove up and was shopping for an oil change and we started bullshitting. He says he's thinking of selling it and getting an suv for the wife. He said he bought it new, and tossed it into a shallow river one night, it got totalled and fixed the front end damage, and a couple of sensors and it works as good as it used to. He said no water ever made it inside

He wants $10,000 for it! Its an 01 with 43K miles, 6spd, chrome 2k wheels, the paint is flawless, interior doesn't smell or anything but the title is salvage. he never took it to get inspected to get it put as a rebuilt title. Would it be worth getting?

Bad Habit Bird
11-29-2007, 09:42 AM
Carfax it to make sure he is telling the truth.

Also, C5's have a lot of electrical issues from the factory. A flood C5 is just asking for trouble. Plus you will have a VERY hard time selling it.

TXZ0603
11-29-2007, 11:11 AM
I personally would run from it. Vettes have enough elec problems as it is.

Cole Train
11-29-2007, 02:25 PM
'eh go for it. At $10k you can't really go wrong even if you have to fix a couple things here and there.~Cole~

Z06PSI
11-29-2007, 02:44 PM
Sounds like tube frame chassis project to me.

will82
11-29-2007, 02:49 PM
For a second 'vette I'd buy it in a heartbeat, not sure if it was going to be my only 1.

That car is worth at least $20,000 if it wasn't salvage, and if something is wrong electrically you could have a whole new fuse box, wiring harness, etc. etc. all done for WAY less than 10k. Worse case scenario you're still getting a deal.

If it drives right, why not for that price?

LS1LT1
11-29-2007, 03:58 PM
'eh go for it. At $10k you can't really go wrong even if you have to fix a couple things here and there.~Cole~That car is worth at least $20,000 if it wasn't salvage, and if something is wrong electrically you could have a whole new fuse box, wiring harness, etc. etc. all done for WAY less than 10k. Worse case scenario you're still getting a deal.
If it drives right, why not for that price?:werd: Sounds like a possible bargain, especially for a fast modified street car/race car project. :nod:

ls1290
11-29-2007, 09:44 PM
Sounds like tube frame chassis project to me.

That would be the only reason I would buy one :nod:

Keith

2006vette
11-30-2007, 05:52 AM
I'd buy it after I checked carfax...sounds like a good deal if hes telling you the truth.

ox593
11-30-2007, 09:30 AM
I think it is a good deal! If I was offered that it would be in my garage today. I rebuilt my 04 Z06. Saved a lot of money and having a lot fun.

5301113
11-30-2007, 09:34 AM
I personally would run from it. Vettes have enough elec problems as it is.


Do vette really have that many elec problems? :confused:
What kind of problems? :emb:
I was think of getting one :nod:

jet722c
11-30-2007, 10:34 AM
Go for it!!

PAVE1
11-30-2007, 06:18 PM
Be a good drag car

will82
11-30-2007, 11:30 PM
Do vette really have that many elec problems? :confused:
What kind of problems? :emb:
I was think of getting one :nod:

Mostly minor quirks you can ignore, faulty grounds, etc.

Both c5's I've owned had the same issue with service traction control and service abs flashing on the dic on high speed (120mph+) runs. Just hit reset twice to clear them out. I look at it as the car showing its displeasure with my wanton lack of regard for the posted speed limit.

Service Tire pressure monitoring system code pops up on a lot of people's car nowadays too, but that is because the battery in the sensors lasts ~ 7 years on average, and the sensors then need to be replaced. Mines a 2002 so next year whenever it's time for tires again I'll go ahead and get new sensors.

1QWIKBIRD
11-30-2007, 11:36 PM
:werd: Sounds like a possible bargain, especially for a fast modified street car/race car project. :nod:

That's the only way I would consider buying, as the foundation for some kind of race/track day car. The salvage title will always make the resale very difficult or at the very least put the car under a cloud of suspicion. It might be tough to get insurance for it through the insurance company until the rebuilt title was secured.

Chris

wabmorgan
12-01-2007, 12:42 AM
Carfax it to make sure he is telling the truth.

Carfax means NOTHING if they don't have a record or damages/ repairs.

2002_Z28_Six_Speed
12-01-2007, 01:15 AM
That's the only way I would consider buying, as the foundation for some kind of race/track day car. The salvage title will always make the resale very difficult or at the very least put the car under a cloud of suspicion. It might be tough to get insurance for it through the insurance company until the rebuilt title was secured.

Chris

Sure you give them the VIN but they don't check the title when you add it to your insurance. They can't refuse you. They might inspect the car if you put comp/col on it though.

1QWIKBIRD
12-01-2007, 07:11 AM
Sure you give them the VIN but they don't check the title when you add it to your insurance. They can't refuse you. They might inspect the car if you put comp/col on it though.

That's a good point....all they really want is the VIN. If they ran the vin would the DMV records indicate the salvage title or just that the car had been in an accident?

Chris

Frosty
12-01-2007, 07:46 AM
That car is worth at least $20,000 if it wasn't salvage, and if something is wrong electrically you could have a whole new fuse box, wiring harness, etc. etc. all done for WAY less than 10k. Worse case scenario you're still getting a deal.

If it drives right, why not for that price?


:werd: I understand the stigma of "salvaged" cars but if it's repair right A LOT of people would never know the difference. Granted it'll have no resale value but we're talking about a car for $10K, it's a deal.

Frosty
12-01-2007, 07:47 AM
:werd: I understand the stigma of "salvaged" cars but if it's repair right A LOT of people would never know the difference. Granted it'll have no resale value but we're talking about a car for $10K, it's a deal.

Carfax means NOTHING if they don't have a record or damages/ repairs.

True but in this case they SHOULD since the car has a salvage title.

Ragtop 99
12-01-2007, 10:43 AM
Who did the body work? Receipts? Look very carefully to make sure there was no frame damage. Does he have the insurance estimate that lead to them declaring it totaled?

If the story checks out, it drives ok, and body guy gives the repairs a thumps up, I'd buy it at that price.

1badzo
12-01-2007, 10:58 AM
im guessing that it was fresh water if so i would go for it you can go to a shop if you have one that you trust gut checked out then check all wiring thatyou can see closley and look for corosion if none and it checked out id buy it i think carfax on this would be a waste off time imo. do it do it :D