928 being auctioned in CA
05-18-2009, 09:51 PM
#1
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928 being auctioned in CA
You only have 10 min left. Sports seats, low mileage, certificate of destruction going for $6.2k
http://ezsalvage.com/product_detail.php?vid=10733739
http://ezsalvage.com/product_detail.php?vid=10733739
05-19-2009, 12:21 AM
#3
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Salvaged title usually means that something happened to the car and the insurance decided to buy it rather than pay to have it repaired.
Happened to my last car after a fairly minor fender bender, but parts were so expensive that it just wasn't worth it to them to fix it. We negotiated a value, they bought it and I bought it back for a few hundred dollars. It still ran fine, all the damage was cosmetic. To get the new title I had to have it inspected by an authorized shop that verified the lights worked, it had wheels, didn't catch fire, etc. No big deal really, but the car could have been salvaged for anything like fire, flood or locusts.
Happened to my last car after a fairly minor fender bender, but parts were so expensive that it just wasn't worth it to them to fix it. We negotiated a value, they bought it and I bought it back for a few hundred dollars. It still ran fine, all the damage was cosmetic. To get the new title I had to have it inspected by an authorized shop that verified the lights worked, it had wheels, didn't catch fire, etc. No big deal really, but the car could have been salvaged for anything like fire, flood or locusts.
05-19-2009, 01:13 PM
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So what does this mean ? ..."This is not an instant purchase. If you hold a highest eligible offer on our "Insurance Auction" item, WE WILL PURSUE THE ACQUISITION OF THIS VEHICLE FROM INSURANCE AUCTION upon receipt of your deposit, which is usually due next business day. Make sure to send your deposit in advance or your offer will NOT be presented. If we acquire the vehicle, your purchase is finalized. If we don’t, you can leave your deposit for next offer or request a refund. " Is this is a buying "service" which tries to buy the car at the actual insurance auction AFTER they have already sold it to YOU ?? Seems like a low risk way to make a lot of money !
05-19-2009, 01:37 PM
#6
Administrator - "Tyson"
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Most states have three levels for a title:
1. Clean
2. Salvage
3. Junk or totalled
In most states a salvage title car can be put back on the road after an inspection (I've gone through this with a couple of cars, I still own two of them).
Usually the titles are stamped "former salvage".
Quite often after 2-3 buyers, the salvage part falls off. It's not supposed to, just happens that way.
Carfax does a poor job keeping track of this.
Most states with "certificate of destruction" means the same as junk or totalled. These titles cannot be "cleaned" with a simple inspection like a salvage title. Yes there are ways to put these cars back on the road, most of the time it's not worth the effort and if not done to the exact letter of the law can get you in real trouble.
I know if I purchased this 928 and tried to register it in Wisconsin, it would be denied as a junk title.
These are not well defined classifications. I've seen cars rolled up into a ball sold with clean titles at auction. Meanwhile a simple under hood fire ends up with a totalled tag. It's 100% up to the insurance company who usually employ people that do not know a Porsche from a U-Haul truck.
1. Clean
2. Salvage
3. Junk or totalled
In most states a salvage title car can be put back on the road after an inspection (I've gone through this with a couple of cars, I still own two of them).
Usually the titles are stamped "former salvage".
Quite often after 2-3 buyers, the salvage part falls off. It's not supposed to, just happens that way.
Carfax does a poor job keeping track of this.
Most states with "certificate of destruction" means the same as junk or totalled. These titles cannot be "cleaned" with a simple inspection like a salvage title. Yes there are ways to put these cars back on the road, most of the time it's not worth the effort and if not done to the exact letter of the law can get you in real trouble.
I know if I purchased this 928 and tried to register it in Wisconsin, it would be denied as a junk title.
These are not well defined classifications. I've seen cars rolled up into a ball sold with clean titles at auction. Meanwhile a simple under hood fire ends up with a totalled tag. It's 100% up to the insurance company who usually employ people that do not know a Porsche from a U-Haul truck.
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05-19-2009, 05:19 PM
#13
Race Director
NICE.....so they don't even own it yet...wait for a sucker to buy from them, then pick it up the same day for a quick $4k profit...... It does look like a automatic..might have a TBF issue + whatever else made it a salvage? However for $2700 I'm sure there is some profit to be made by parting it out....especially if ht engine is good?
05-19-2009, 05:34 PM
#14
Administrator - "Tyson"
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This is a service just like every other.
Do you think the car dealer is just passing along what he / she is paying for the car to you? How is this any different?
I'm guessing this is a dealer only auction. Their fee is a lot cheaper than trying to aquire a dealer and / or salvage resellers license. So for people who only want this one car, it's a nice service to have out there.
Friend of mine takes orders for auction cars all the time, charges a fee to drive down to the auction, find a car for his customer and bring it home. He makes a good living doing this.
Do you think the car dealer is just passing along what he / she is paying for the car to you? How is this any different?
I'm guessing this is a dealer only auction. Their fee is a lot cheaper than trying to aquire a dealer and / or salvage resellers license. So for people who only want this one car, it's a nice service to have out there.
Friend of mine takes orders for auction cars all the time, charges a fee to drive down to the auction, find a car for his customer and bring it home. He makes a good living doing this.