Thoughts on Salvage Titles - minor fender bender?
11-28-2018, 05:12 PM
#1
Thoughts on Salvage Titles - minor fender bender?
I'm in the market for my first Porsche 911... childhood dream, blah blah blah.
Found a reasonable looking and priced 1988 Carrera with records. Owner says that it is "salvage" because of a front end accident that dented the bumper 1 inch. It was fixed professionally but has a salvage title. I've asked for the VIN so that I can look up a CarFax on it, but haven't received that yet. Pics look good, and was thinking of going down to SF to check it out next week. If it passes the look/see test I would have it PPI'd and also looked at by a body shop for any structural damage.
Here's the text from the ad:
Checked with my insurance company and they will write a policy, but just won't cover any collision which makes sense since the car is sold old at this point.
From what I have researched, once the car is labeled Salvage it is branded that for the remainder of its life and I would need to sell it, if and when I do, with the salvage title.
Thanks for your advice,
Gary
Is salvage something to stay clear of at all cost?
Should I have the car checked out? Should I waste my time on this?
Here's link to listing... https://sfbay.craigslist.org/eby/cto...727080716.html
Found a reasonable looking and priced 1988 Carrera with records. Owner says that it is "salvage" because of a front end accident that dented the bumper 1 inch. It was fixed professionally but has a salvage title. I've asked for the VIN so that I can look up a CarFax on it, but haven't received that yet. Pics look good, and was thinking of going down to SF to check it out next week. If it passes the look/see test I would have it PPI'd and also looked at by a body shop for any structural damage.
Here's the text from the ad:
"For sale by second owner, SALVAGE title in hand, properly maintained high mileage, 1988 Porsche Carrera 3.2, manual 5-speed transmission (G-50), California car (no rust). Just passed smog with flying colors. Looks very good and runs very well. BlueTooth, CD player with USB. Original leather interior, in very good condition. Fuchs wheels. BF Goodrich tires like new. New Interstate battery. Catalytic converter changed in 2016. Clutch changed by original owner. I painted the car in 2015. Car is stock, aside from the Momo Prototipo steering wheel and Hella fog lights (I saved the originals). Custom made car bra and side mirror protector covers included in price. The car records are available. Salvage title reason: (minor accident 3 years ago) when the front bumper was bent one inch. Pictures taken before, during, and after the repair available upon request. It was professionally repaired to its original condition. $30,800 OBO. No lowball offers in the twentythousands, let's not waist each-other's time. Thank you."
Checked with my insurance company and they will write a policy, but just won't cover any collision which makes sense since the car is sold old at this point.
From what I have researched, once the car is labeled Salvage it is branded that for the remainder of its life and I would need to sell it, if and when I do, with the salvage title.
Thanks for your advice,
Gary
Is salvage something to stay clear of at all cost?
Should I have the car checked out? Should I waste my time on this?
Here's link to listing... https://sfbay.craigslist.org/eby/cto...727080716.html
Last edited by gumanow; 11-28-2018 at 05:28 PM. Reason: Added quote
11-28-2018, 05:46 PM
#2
Nordschleife Master
280k mi? I would hesitate over that more than the S title. I own an S title car. You must assess the car as it sits today to determine if the history is a concern to you. But at that mileage with no reference to a gearbox or engine rebuild? Pass. That's a $25k car. Don't waste (not waist) your time with this guy. The air has come out of the market. Rough and high mileage cars have come down 15-20%. He's just not on board with reality yet. He might get there, but with his current tone don't bother.
11-28-2018, 06:16 PM
#3
Burning Brakes
11-28-2018, 06:23 PM
#4
Burning Brakes
The prospective seller is nuts.
11-28-2018, 07:42 PM
#5
Nordschleife Master
11-28-2018, 08:07 PM
#6
Addict
Lifetime Rennlist
Member
Lifetime Rennlist
Member
Salvage title aside, don't dismiss collision coverage. You would want that on a $30K new car, why not on a $30K 30-year old one? Most insurance companies would definitely write that.
What many of us do is use collector car coverage. Companies such as Hagerty, Grundy, Leland-West, and several others. The benefit is you can buy true stated value insurance - you total it, you get the agreed upon stated value. Disadvantages are typically use and mileage restrictions.
But I think you want and should expect collision coverage.
Mark
What many of us do is use collector car coverage. Companies such as Hagerty, Grundy, Leland-West, and several others. The benefit is you can buy true stated value insurance - you total it, you get the agreed upon stated value. Disadvantages are typically use and mileage restrictions.
But I think you want and should expect collision coverage.
Mark
Trending Topics
11-29-2018, 10:28 AM
#8
Nordschleife Master
Since you appear to be in the Bay Area, I've got a much better car for you. It needs a few things, but nothing major and is $5k less with no branded title and half the miles. SCs are great cars.
http://forums.pelicanparts.com/porsc...-metallic.html
http://forums.pelicanparts.com/porsc...-metallic.html
11-29-2018, 02:51 PM
#9
Dont do it (Salvage) unless a super cheap deal to be used for track, it will never be worth what you put into it. The one GT posted would be a much better candidate.
12-13-2018, 02:25 PM
#12
This car was given an S title 3 years ago at the tippy top of the market for a minor ding in the bumper? Can I interest you in some fine swamp land? I can see salvage title when these were sub $20k cars and expensive to repair. A fender bender could easily have racked up a high % of the cars value back then. Its not the same when these cars got a lot more expensive. You don't give and S title to a car that's worth $30k and costs $3k to fix. I am calling BS on the sellers story.