I'm currently shopping for a 964. I found a beautiful one with 27,500 mi. The only problem is it has a "damaged title". I'm not familiar with this term. The owner says it is because the car was involved in a parking lot accident, and that when the insurance company fixed the car the owner said they didn't want it because it only had 15,000 miles on it at the time. He's asking 26,900 for it. Now, am I correct in believing that one will have serious problems attempting to sell a car with a "damaged title", no matter the condition or miles of the car? Any help would be much appreciated. So far I've had two near perfect 964s slip right through my fingers. I'd like to not let that happen again...
Brian Hensarling

 

Brian,

I'm not familiar with that term either - is that a Virginia title? Expect that will affect resale, so you should consider that in the price, as you'll have to consider it when you sell down the road. You probably know that you should always get a pre-purchase inspection. In this case, you should probably have a quality body shop also do an inspection too.

 

I think it's actually an Ohio title, but I'm not sure yet. I'm going to have to go back and check on it. I was just wondering if anyone else had heard of that specific term. For all the hassle it will take to decide whether the car is a good deal or not, it's not a great price. I'm going to look into it a bit further and see what I come up with. Thanks, Bill.
Brian

 

Check with your state!!! I say this because car's with "rebuilt" or "salvage-rebuildable" titles can be a major pain in the a$$. I moved from VT to NY and NY is making me go through a huge inspection process even though i've had the title in my name when i moved.

If you don't plan on keeping the car forever(tough thing to predict the future) it will seriously effect your ability to sell the car. Even if the price doesn't change much, you will scare away way many buyers(think about how you feel) and it will be a harder car to sell quickly.

Hope it helps. The car i'm talking about is a 94 golf i bought for $1,100 bucks that runs like a tank. If i can't sell it, i'll just run it into the ground or part it out. A $20k+ car is an entirely different story.

Good luck with your search...

 

Do a CarFax on it!

 

I would be very careful and research the history. If it sounds to good to be true...............I think you are referring to a "rebuilt title" which means that the car was damaged to the extent that it was not economically practical to repair it. If there is not any sign of extensive body work the car could have been "water damaged".

If the title is "rebuilt" you will never get top dollar when you sell it.

I know from first hand experience.

 

dont trust carfax they are good if they find something in the history. if the carfax is good keep researching. you can google all the problems with carfax omissions. if damage isnt reported to a dmv (or even if it is) odds are it will not be on the carfax.

 

If it's a rebuilt title, take the book value and cut it in half. I'm a dealer this is what we do.