Value of re manufactured or salvaged vehicles?

[TwinCruiser]

I'd walk away too. Not worth the headaches and its a hard re-sale.

Flood damaged vehicles also are issued salvage or rebuilt titles.

It seems that every state has different criterias for determining whether a salvage title is issued.

If the damage is extensive, some are issued "EXPORT ONLY" titles.

I see a lot of vehicles listed for sale in FL with Export only titles.

 

[adrenaline503]

I'd pass, I see several on Craigslist for under $5000 and you won't have the headache of insurance, replaceable value, the extent of the repairs, etc. Now if he was offering it for $3,000 I'd think pretty hard about it but at $5K he's out of the ballpark.

$3k is what I was thinking, he's not going to go for that. All my questions pissed him off.

 

[kjp1969]

$3k is what I was thinking, he's not going to go for that. All my questions pissed him off.

Of course! He wants to sell it to someone unsuspecting. . .

 

[adrenaline503]

Of course! He wants to sell it to someone unsuspecting. . .

I'm not even sure its that. He bought it not knowing it was a salvage, I think he just over payed for it and is in a lurch. Its 4 hours away so I'm not heading down there until I know whats he willing to take for it.

 

[Greggk]

I'd walk. no make that run. he knows he got bit, he wants to recoup the money and he is getting irritated with you the buyer? Caveat emptor

 

[4671 Hybrid]

Just jumping on the bandwagon but yeah, being that he's 4 hours away, get's pissed at a buyer for asking informed questions, won't give you his best price, AND you can have regular titled vehicles for either the same price or less, would lead me to leave this one alone. BUT, maybe you caught him on a bad day and one last phone call to offer a best price will bring him back to reality.

 

[adrenaline503]

Just jumping on the bandwagon but yeah, being that he's 4 hours away, get's pissed at a buyer for asking informed questions, won't give you his best price, AND you can have regular titled vehicles for either the same price or less, would lead me to leave this one alone. BUT, maybe you caught him on a bad day and one last phone call to offer a best price will bring him back to reality.

Meh, maybe I'll just get a land Cruiser instead.

Here is the ad: http://websites.dealershipids.com/forestgroveab/view_vehicle.html?vehicle_id=NDYx

Sure does look pretty.

 

[Quill]

If I remember correctly banks only loan 80% of the value, even on a new one. A really good body shop can bring a totaled vehicle back. I would take it to the best body shop you know and have them look it over.

 

[Patman]

If I remember correctly banks only loan 80% of the value, even on a new one. A really good body shop can bring a totaled vehicle back. I would take it to the best body shop you know and have them look it over.

Banks will NOT touch a salvage title.

 

[adrenaline503]

Yea, I have the cash, but wasn't going to pay over 3 grand. Oh well.

 

[Quill]

Depends on the vehicle. Wells Fargo and many Credit Unions did. My wife was a loan officer for them. You need to check with your lending institution. There are a lot of stories out there and not all of them are true. Another that once a car has been crashed it has less value. If the body work is good then it is as good as before the crash and sometimes in better shape.

 

[Eaglefreek]

Here is the ad: http://websites.dealershipids.com/forestgroveab/view_vehicle.html?vehicle_id=NDYx

It's a dealer? He darn well knew the status of the title. He's just hoping the buyer doesn't find out.

 

[adrenaline503]

It's a dealer? He darn well knew the status of the title. He's just hoping the buyer doesn't find out.

He said they didn't know the status when they bought it at auction. Take that for whats its worth.

 

[AeroNautiCal]

Meh, maybe I'll just get a land Cruiser instead.

Here is the ad: http://websites.dealershipids.com/forestgroveab/view_vehicle.html?vehicle_id=NDYx

Sure does look pretty.

 

[Squatchout]

Too many decent used vehicles out there to waste time and money on something sketchy. Salvage title means run don't walk to the nearest exist.