Salvage titles-A problem when buying car??
#1
Track Day
Thread Starter
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I've seen alot of lower priced 911's on Ebay stating they have a "Salvage Title". Is this a big problem when going to register the car in the new owner's name etc?
And for the good folks who responded to my first post concerning '85 Targa's, pro's/ con's.Thanks and I live in the midwest, not the UK.Sorry for the mix-up.
Gary
And for the good folks who responded to my first post concerning '85 Targa's, pro's/ con's.Thanks and I live in the midwest, not the UK.Sorry for the mix-up.
Gary
#2
Burning Brakes
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I would find out whether your insurance company will even insure it.
I won't go into why I think salvage titles are more trouble than they're worth, especially with Porsches...
Drew
92 C2
I won't go into why I think salvage titles are more trouble than they're worth, especially with Porsches...
Drew
92 C2
#4
Nordschleife Master
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The answer definately depends on who you are and what you want. The fact is that a car with a salvage title is very hard to sell because it scares too many people off. However, IF you are good mechanically, and want a car for yourself, you could probably get a good deal if you choose carefully.
I purchased a 1996 Audi A4 from an insurance auction for 1/3 its wholesale value. I fixed it myself for about 3,000 and it runs, drives and looks 100%. It has a salvage title and states that it has been wrecked/repaired. Now I like the car and use it as my daily driver and wanted a cheap car to put miles on so I don't really care. When I get ready to sell it, it will have 150-200k on the clock and the salvage title won't mean much for the resale value. In my case it works out. My insurance company in NYS is required to insure the car at its full retail value and my premiums are normal.
However, I would probably not buy a salvage car that was already fixed since I could not control the quality of the rebuild and there are a lot of butchers out there.
With the recent changes in the insurance industry, they tend to total cars when the damage has reached 65% instead of 75% as it use to be. A car with airbags makes the repair costs that much more. So a totaled car really might not be physically damaged all that much.
I purchased a 1996 Audi A4 from an insurance auction for 1/3 its wholesale value. I fixed it myself for about 3,000 and it runs, drives and looks 100%. It has a salvage title and states that it has been wrecked/repaired. Now I like the car and use it as my daily driver and wanted a cheap car to put miles on so I don't really care. When I get ready to sell it, it will have 150-200k on the clock and the salvage title won't mean much for the resale value. In my case it works out. My insurance company in NYS is required to insure the car at its full retail value and my premiums are normal.
However, I would probably not buy a salvage car that was already fixed since I could not control the quality of the rebuild and there are a lot of butchers out there.
With the recent changes in the insurance industry, they tend to total cars when the damage has reached 65% instead of 75% as it use to be. A car with airbags makes the repair costs that much more. So a totaled car really might not be physically damaged all that much.
#5
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Gary,
I once bought a 928 with a salvage title for $3800 and I had all the work done myself ($2800) and it was perfect when finished. I drove it for 1 year and put it up for sale. 7 months later I finally sold the car for $2600. And I was happy to be rid of it. Moral: If you buy a Porsche with a branded title, plan on keeping it forever and possibly being buried in it. When I tell this story around other Porsche enthusiasts, there is usually at least on other person who has a similar story.
My wife just informed me last night that, due to the fact that her Land Rover is sleeping outside, I will be selling my 1984 911 Targa (that I just bought) or my 1989 944 Turbo in the next month or two. If interested, email me for details: pauldobbs@hotmail.com
I hope you find one you really like!
Paul
<img src="graemlins/burnout.gif" border="0" alt="[burnout]" />
I once bought a 928 with a salvage title for $3800 and I had all the work done myself ($2800) and it was perfect when finished. I drove it for 1 year and put it up for sale. 7 months later I finally sold the car for $2600. And I was happy to be rid of it. Moral: If you buy a Porsche with a branded title, plan on keeping it forever and possibly being buried in it. When I tell this story around other Porsche enthusiasts, there is usually at least on other person who has a similar story.
My wife just informed me last night that, due to the fact that her Land Rover is sleeping outside, I will be selling my 1984 911 Targa (that I just bought) or my 1989 944 Turbo in the next month or two. If interested, email me for details: pauldobbs@hotmail.com
I hope you find one you really like!
Paul
<img src="graemlins/burnout.gif" border="0" alt="[burnout]" />
#6
Three Wheelin'
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I once saw a 6 series BMW which was welded together out of two cars.....BAD NEWS! Clipping as it is called is usually not done to any kind of reasonable standard. I would not buy a rebuilt salvage title car. A lot of shops don't really know how to weld properly to get the strength required. Most just tack things enough to hold them, and then lay on the fudge (bondo). You can hide a lot under plastic.
If the car has some other sort of damage that makes it easily rebuildable, then it might be okay (i.e. engine fire, or mild water damage).
As a rule I usually stay clear of anything with a salvage title
If the car has some other sort of damage that makes it easily rebuildable, then it might be okay (i.e. engine fire, or mild water damage).
As a rule I usually stay clear of anything with a salvage title
#7
Rennlist Member
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My only experience will salvage cars was last weekend at a Drivers Ed at Watkins Glen. I instructed a guy who was putting together a Boxster S as a future club racer. He told me he bought the car out of salvage for 27K. It was a 2001 S with 15K miles on it. The car had water damage, no structural damage. I was surprised becuase there was no visible evidence to indicate this. There was no funny smell inside. He got it from a company call Prestige (something or other). Prestige apparently spent about 2.5K cleaning the car up. He had had the car for several months and done several track events without any problems. Plus he had tags on it, so he must have been able to insure it.
Seems like a salvage car, as long as it didn't suffer structural damage, could make a decent foundation for a track car, rather than modifying a nice clean car, only to reduce the resale value.
Seems like a salvage car, as long as it didn't suffer structural damage, could make a decent foundation for a track car, rather than modifying a nice clean car, only to reduce the resale value.
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Superdave312 (07-29-2020)
#9
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With a salvage title, the car is tainted. They are easy to buy (cars with a salvage title) and difficult to sell, unless you sell it very cheap.
State Farm will not insre cars with a salvage title, at least that was their stance in the past.
State Farm will not insre cars with a salvage title, at least that was their stance in the past.