How does a rebuilt title affect the value of...
Thread Starter
TECH Regular
Joined: Oct 2003
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From: Miami, FL
How does a rebuilt title affect the value of... ...a relatively tough to find car like, say, a 99 Hugger SS? There's one in my area that I am currently negotiating for. 60k miles, they are asking $10,400. I called SLP with the VIN to confirm, and it is a real SS. The seller claims it was a theft recovery with light damage to the rear and right qp. I had it checked by a good body shop and they confirmed that the work was done well, and saw no signs of frame damage or anything. The car looks pretty nice. The only thing odd is that they used a Z28 spoiler since the SS one was cracked, but they are including the SS spoiler in the sale.
I know that a rebuilt title has a negative impact on a car's value... obviously there is no exact way to determine it, but do you guys think this is a good deal? I'm a Ford guy looking to come over to the dark side, and this seems like a great opportunity. Thoughts?
I know that a rebuilt title has a negative impact on a car's value... obviously there is no exact way to determine it, but do you guys think this is a good deal? I'm a Ford guy looking to come over to the dark side, and this seems like a great opportunity. Thoughts?
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Joined: Aug 2003
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From: Lexington, NC
Hmmm...that seems like a pretty good deal...I would still be kind of skeptical about the damage...Personal I would leave that one, you dont want someone elses problems and if its been "wrecked" and its prob been dogged like hell...the person stealing the car prob didnt care much about what kind of shape it would be in...Good Luck
Wes
Wes
my brother bought a 98 ta wreck and fixed it and had it on the road for under 10,000 last year , the car has 60000 miles on it.It had very light damage and was very easy to fix. I think long as your not gonna be trying to sell it to make any money on it go for it. The value isnt as high for a rebuilt title. see how the car drives make sure it tracks well and not pull either way.
TECH Apprentice
Joined: Sep 2003
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From: Long Island NY
While as long as its good I wouldnt hesitate to buy it... I would DEFINITELY try to negotiate down the price. Unfortunately most people look at salvage titles like kryptonite, and if the proverbial "**** hits the fan" and you have to sell the car you dont want to be stuck with a car you'll have a hard time getting at least your money back on. That and I bought my car (*albet just a TA not an SS) for $9800 and mine was near mint, 73k miles and a clean title. So if I had to choose id go for a clean title car at that price.... JMO
i bought my car with the salvage title.. but the car was not repaired, we did the repairs at my dads body shop and the car came good as new... if the work is not done right though it can be very bad, my freind bought a 01 audi s4 with a salvage title and the car was already repaired. and done very crapy, the frame is definatly tweeked still, they bought a used door wich was a different color and now the paint is flaking.. so my words of advice is just make sure you throughly inspect the car before you buy it.. if the repair is done right then you should never have a problem... i saved 6-7k by buying my car that way
Joined: Dec 2001
Posts: 12,829
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From: Central Indiana Honors: 4th grade spelling bee contestant
My little brother recently bought a '92 Mustang GT with a rebuilt title. It's his first car, and seems to be in proper working order. From crawling in, out, on, and under it I've found no major damage repair. The damage apparently wasn't too severe (like welding the front and back of two different cars together like I've seen on tv and then trying to pass it off as an undamaged car).
The 'Stang will make him a perfect first car, and it get's him into his favorite car in the world...the Mustang.
The 'Stang will make him a perfect first car, and it get's him into his favorite car in the world...the Mustang.
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while it may reduce the value of the car, id buy it...i love the color of my car, and u don't see many of them, in my eyes, my car is as valuable as any, ive wanted one since the day i laid eyes on one in 99...if it looks fine, runs fine, and reports come clean on it, why not get the car, rare color, and a blast to drive...good luck on whatever u decide
I've read that some states will give a car a salvage title if it's a theft recovery and has not even been in an accident.
I would not pay over $10K for a car with a rebuilt title.
I would not pay over $10K for a car with a rebuilt title.
Thread Starter
TECH Regular
Joined: Oct 2003
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From: Miami, FL
Thanks for the replies, guys. John, that's the situation here. The car was lightly damaged due to the theft. Apparently FL gives it a salvage title, because the body shop told me that the damage they see would be nowhere near enough to total a car independently.
The asking price is $10,400... if I go forward with this, I'll probably offer $8500 and work from there, hopefully settling somewhere in the $9500 range.
The asking price is $10,400... if I go forward with this, I'll probably offer $8500 and work from there, hopefully settling somewhere in the $9500 range.
Originally Posted by evolve
Thanks for the replies, guys. John, that's the situation here. The car was lightly damaged due to the theft. Apparently FL gives it a salvage title, because the body shop told me that the damage they see would be nowhere near enough to total a car independently.
The asking price is $10,400... if I go forward with this, I'll probably offer $8500 and work from there, hopefully settling somewhere in the $9500 range.
The asking price is $10,400... if I go forward with this, I'll probably offer $8500 and work from there, hopefully settling somewhere in the $9500 range.
IF you got it checked out by some body who knows what they are doing I would not be afraid of it. It sounds like good deal. I am sure that you can get the price lowered. It is the right color. Not many of them around. GO 4 IT ! I am in the car business and there will be a lower resale value because of the title. But if your buying it to enjoy the car, get it.
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From: Cypress, TX USA
If your looking to keep this car until the end of it's life, you may want to buy it under 10k, but if you plan on selling it later I would not buy it. You will get next to nothing for it.
Good luck!
Good luck!
TECH Apprentice
Joined: Sep 2003
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From: Long Island NY
Just FYI you cna get a salvage title car that has NO damage whatsoever and perfect as new... I work for GEICO car insurance. Basically lets say your car is stolen, it disappears for over 30 days... we will pay you the value of the car on a comp claim. We now own the car. The car mysteriously shows up in perfect shape 60 days later... Car has a salvage title, becuase when the insurance company pays off the claim its considered to be "totaled" out.
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From: Atlanta, GA
so geico dude, does geico provide full coverage on a rebuilt/salvage titled car? And does that effect future crash. Say if you totalled a rebuilt car, would you pay the same book price as a car with a clean title?
TECH Apprentice
Joined: Sep 2003
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From: Long Island NY
Originally Posted by samz28
so geico dude, does geico provide full coverage on a rebuilt/salvage titled car? And does that effect future crash. Say if you totalled a rebuilt car, would you pay the same book price as a car with a clean title?
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From: Indianapolis
The car is most likely fine. But the problem is most banks wont finace it and its worth 50% of a clean title car. You would get nothing for it. In Indiana i have seen SS's and Z 98+ go for less than 8k. A 99 conv. Z with 25k went for 7500 2 years ago. I know i test drove it.But my bank or my aux bank wouldnt touch it,and why should they...
TECH Addict
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From: Atlanta, GA
thats why you use your PLOC or BT offer. i have $9K overdraft on my checking, its rather high at 5% APR, but you could BT the offer to a low APR FOR LIFE CC and then pay it off quickly.
but yeah. I'd definitely force 10-20% below KBB , cause you KNOW no car dealer will touch it with a 10 foot pole unless it was a true bargain.
I'd go with 20% below KBB then work your way up as you desire this car. Pay in cash, and make sure your insurance company will give you a comparably new car in case of total'age lol.
but yeah. I'd definitely force 10-20% below KBB , cause you KNOW no car dealer will touch it with a 10 foot pole unless it was a true bargain.
I'd go with 20% below KBB then work your way up as you desire this car. Pay in cash, and make sure your insurance company will give you a comparably new car in case of total'age lol.