hollywoood

I am in need of some pricing advice. I am looking at a 2002 z28 camaro with 41,000 miles. The car was originally a California car. It is very clean underneath with no rust. The car is a 6 speed hardtop with no power options. The downfall of the car is that it has a rebuilt title. The car was totaled in California at 7,000 miles. The car was involved in a front end drivers side collision. Airbags were deployed. The car has a new front welded to it. The welds are located in front of the strut towers. The rebuild seems to be done correctly and the paint is quality. The hardtop does have some bubbling of the paint. The drivers door has also been replaced due to the accident. The owner is asking 8500 obo. I do not normally deal with salvage cars so I am having a hard time determining if around 8k is a fair deal. I do not want to get burned. What are your guys thoughts?

hollywoood

Anyone have an opinion? I realize this car would be worth in the range of 10 to 12k if it was not a salvage/rebuilt. I also know that in a perfect world salvage/rebuilt cars bring about 60% of clear title market value. Premiums seem to apply to low mile cars when it comes to f-bodies, do these same premiums apply to salvage/rebuilt cars? I am going to take a second look at this car Tuesday and I was going to start seriously negotiating on the price.

NC01TA

I personally would avoid it but if you are interested then $5,000 - $6,000 would be top $$$. You are quite correct about the diminished value of 'bad title' cars. If he stands firm, let him sit on it until he finds a sucker.

hollywoood

Thank you for the reply! It is much appriciated. I may try and offer around $5500 and see what he says. I doubt he will go that low though. He claims to have 8k in it.

NC01TA

You are welcome.
He may have $8k into it but it doesn't mean you or anyone else has to pay for it. He'll see the 'big picture' after awhile. Good luck with your offer.

hollywoood

I offered 6k on this car, and he essentially laughed at me. He is convinced that the car is worth 14-16k if it had a clear title. He offered the deal of 8200 with him putting new tires on the car. I believe he will be sitting on this car for a long while. Thank you for help on this one.

NC01TA

Hey, good try! Sounds like he is in denial and also is out of touch with regular pricing. If he thinks a clean titled '02 Z28 is worth that kind of money, there just is no reasoning with him. Oh sure, you might see that asking price on a dealership lot but that's a whole different situation. It just doesn't apply with his bad title.