Salvage Title Cars

[RC]

Looking for a reasonably priced car for my daughter. Seems every other one on Craigslist is a salvage title. What are your thoughts on possibly purchasing a car with a salvage title? Are they even worth looking at? If the seller has all the documentation on repairs is that enough to make you feel ok about it?

Any thoughts would be appreciated. Thanks

 

[yabuoy]

Re: Salvage Title Cars

I'd pass. Lord knows what kind of problems the car has (electrical, for one-like a Katrina car). Sure you might save some money, but there are plenty of decent used cars that aren't salvage. Just me, but I wouldn't want my daughter driving around in a car that may have some real hidden problems

Edited: If you decide to go this route, at least have an extremely thorough look at the car and have a reputable mechanic go through the vehicle and inspect it, from the frame rails to the wiring. The seller may say it is great and have paperwork and receipts in hand but you need to exercise caution with any used vehicle, especially one with a salvage title. Who knows, you may end up with a decent car for a steal

 

[Boomyal]

Re: Salvage Title Cars

My daughter, with my guidance, bought a 2002? Mitsubishi Lancer that had a salvage title. We bought it from the guy who had purchased it at auction and then had friends in the repair business repair it. If I recall correctly, she bought it in 2005 with some 30K miles on it.

She still owns it today. It probably has 90/100 k on it now. It has been an excellent car and there have been zero problems with it, either mechanically or body/paint wise.

The seller had excellent pictures of the original damage (left front) and you could plainly see that the damage did not extend into critical areas.

Again if I recall correctly, non salvage models were selling for about 9K at the time. She got hers for about 7200.00 It was quite a savings for a late model/low mileage, hot little car for a young girl.

 

[JB]

Re: Salvage Title Cars

I guess it is always a gamble. There are so many things that could be wrong that a rebuilder doesn't notice. This is especially true of flood damaged cars.

My older brother was a notorious penny pincher who always bought his cars from Hertz or Avis when they were retired because of their age or mileage. They had been well maintained and he never got a lemon. He always got below-market prices, too.

An acquaintance loves to buy cars being retired by hiway patrol. They are usually "police special" or "pursuit" models with everything heavy duty.

 

[drrpm]

Re: Salvage Title Cars

Generally I wouldn't consider a salvage car. The risk/reward ratio is too high especially for a car to give to your child. However, if you came across one where you knew what the damage was and had documentation that it was repaired correctly it may be worth checking out. Cars used as rentals generally don't have too bad a life, but police cruisers have the guts run out of them.

 

[bruceb58]

Re: Salvage Title Cars

I used to buy and sell cars when I was back in college and my brother is an auto dealer now. When I used to buy and sell cars, any car sold by the insurance company to me, even if it was a recovered theft, had a salvage title. This could mean anything form completely stripped or recovered intact. If it was completely stripped, who knows what corners the person putting it back together did. Also very possible to get a car that was totaled and then rebuilt from a crash, fire or flood.

To me, unless you know the entire history of the car including the person who repaired it and their skill level, I would definitley pass.

The people selling these salvage title cars are just flipping them. I would try to find a used car from someone who has owned the car for awhile.

 

[Boomyal]

Re: Salvage Title Cars

It would be safe to say that a Salvage Title should elicit caution. Unless you know the absolute history of the vehicle, buying one could be a crap shoot.

I had that certainty when I helped my daughter buy hers. Part of the reason for my certainty was my life long experience around the auto service industry. When I was first confronted by the fact that the Lancer was a salvage car, I had to see evidence that suited me that the car would be ok.

One other thing for consideration, as is evidenced by the opinions on this forum, a salvage title would make it difficult to re-sell the car. In our case, we are ones who hang onto cars until they become too old for a salvage title to matter.

 

[Fishing Dude too]

Re: Salvage Title Cars

There was a car dealer here selling hail damaged cars, all salvaged titles, and brand new

 

[cribber]

Re: Salvage Title Cars

I'd say it all depends on why it was given a salvage title. Anything that was water damaged stay away from because there are too many unknowns. If it was because of damage have the repairs professionally checked out and ask for all documentation. Also check with your insurance company to see if they'll insure a salvage titled car. Buyer beware is my advice in this area.

 

[bruceb58]

Re: Salvage Title Cars

One other thing for consideration, as is evidenced by the opinions on this forum, a salvage title would make it difficult to re-sell the car. In our case, we are ones who hang onto cars until they become too old for a salvage title to matter.

Definitley true. Resale value takes a big hit and should be taken into consideration with the price you buy it at. The next person you try to sell it to may not have the same resources to investigate if the car has been repaired properly or not.

Also, there are many banks and credit unions that will not loan on these as well as insurance companies that will not give you 100% value of the car in case you have your own loss on the car.

 

[64osby]

Re: Salvage Title Cars

I found a salvage title Mercedes with 50K on it for my wife, it had been repaired, trunk had been hit. Cost less than 1/2 of same w/ good title, runs great, great on gas and she loves it.

The guy i bought it from asks me about it every time I see him. He wishes he had never sold it. I had looked it over hard and had my shop look at it before buying it. Paid cash and the ins co does fully insure it. It was repaired by a dealer.

 

[bruceb58]

Re: Salvage Title Cars

and the ins co does fully insure it.

You won't know until you file a claim. My friend had a salvage title car that got totaled. They deducted a certain percent from the payoff due to the salvage title. In this case it was the person's insurance who hit him that was the one deducting. Not his own insurance company.

 

[tomdinwv]

Re: Salvage Title Cars

Question that may help OP. Can he get a Carfax report on any car he is considering? Would the report tell what damage caused the car to be declared a total loss? Just thinking if the report showed the original damage he may be able to determine what kind of repairs were made to get it back on the road. If he could find out what the original damages were he would know what part of the car needs extra attention in his inspection. Just a thought. Don't know if this will help or not.

 

[RC]

Re: Salvage Title Cars

Thanks for your opinions. We are not going to look at any salvage titles, just to much risk! I did call our insurance company just to see what they did (Geico) and was told they don't even ask if it's a salvage or not.

 

[mscher]

Re: Salvage Title Cars

I see many truckloads of damaged cars, being hauled, to somewhere.

Maybe there are more cars, being "totaled", due to the huge costs of an insurance repair, so they are sold to someone, who repairs it for much less and then re-sells it, under a salvage title.

Might be some great deals, with a close inspection. Might be a real nightmare.

 

[buildmark]

Re: Salvage Title Cars

I had a salvaged title on my previous truck and it had pulled over to the left sholder and then fell over onto the left side. it was repaired professionally and I was able to buy it for a lot cheaper than normal. it had caught fire in my drive because of a bad extension cord that I used and the front burned up. my fault but I didn't get full value on it because of salvage title, unless I would have had it professionally appraised.

 

[jkust]

Re: Salvage Title Cars

When shopping for my most recent vehicle I bought this past January, a really nice version of what I wanted came on the market at a car lot that fixes and sells only salvage vehicles. My issue with it was although it was slightly less money than a non-salvage, it was still over priced and they wouldn't negotiate. Regardless, I figured out that if you google the vin number more times than not I was able to find pictures from the salvage auction to see the extent of the damage. That said some of the salvage title cars that have been completely repaired that I shopped have been on the market for over a year. If i'm buying a salvage title, fully repaired car, I would have to plan on driving it into the ground. The other thing that I can't seem to figure out is why the salvage cars almost always had lower than normal miles. The must have sat damaged for years is the only conclusion I can come up with.

 

[ultra353]

Re: Salvage Title Cars

Go to coparts.com, all the salvage titled cars available for purchase before repair and open to the public for bidding.. They buy them from the Insurance co when they total them out.

 

[mscher]

Re: Salvage Title Cars

The other thing that I can't seem to figure out is why the salvage cars almost always had lower than normal miles. The must have sat damaged for years is the only conclusion I can come up with.

One can get a CARFAX on a vehicle, which should show an accurate title/mileage history, even for a salvage title.

 

[lexer440]

Re: Salvage Title Cars

I was a parts person years ago and the shop I worked in had a mechanic that put three cars together, stripped car and put a trunk on and front end from a third. It was a mazda and he put in a used engine, excellent job when sprayed and passed all safeties to register it but would I buy it? not a chance! Salvage cars have lower than average miles because they get written off, usually in an accident early in their lives.

Carfax it, and get your own inspection because you don't want a car that his buddy has done him a favour on where the inspection is concerned.