Well I have decided I will be parting ways with my 993
#16
FWIW...I bought a salvaged 993 targa three years ago when the market was much stronger, for $19k. The entire repair (body only no frame or engine damage) was extensively photo and written documented. The car looked and drove perfect. I had it about 15-18 months and decided to sell it to transition into a coupe. It was a VERY tough sell but I eventually did sell it...for $19K.
#17
You're doing the right thing, sell the car. Years ago I had dinero ready to buy an 88 911 turbo (was very close to pulling the trigger), then interest rates dropped and I decided to buy my current house and rent the other. Best decision I ever made, of course I should of sold the 951 and bought more house, but I'm cheap..lol Cars come and go, now is the time to buy a home with prices down...Sell it!
#18
Nordschleife Master
Joined: Dec 2008
Posts: 5,472
Likes: 32
From: In front of you and to the left ...
You're doing the right thing, sell the car. Years ago I had dinero ready to buy an 88 911 turbo (was very close to pulling the trigger), then interest rates dropped and I decided to buy my current house and rent the other. Best decision I ever made, of course I should of sold the 951 and bought more house, but I'm cheap..lol Cars come and go, now is the time to buy a home with prices down...Sell it!
Someone who wants a nice low mileage black coupe that intends to keep it for 20 years and enjoy it will get a great deal on this car, and 15-20 years from now when they are all very collectible, that 'salvage' brand on the title will mean nothing, especially with your documentation, so that's your buyer ... a long term keeper.
Pricewise, today it seems the 25K mark is the point where people start expecting the 'stories' and problems to start dropping away. As you approach 30K a buyer can expect lower mileage as well. If your car had a clean title, it would be worth 35K between private parties and you know what Sloan would ask for it, so don't even go there, just pass the crack pipe... but, it doesn't have a clean title so you need to be realistic. IMHO, and there are always exceptional circumstances like the 'perfect buyer', I think if you ask much more than 25K you will severely limit your market.
#19
I always figured when I bought my salvage title vehicles that I'd save some on the front end but knowing I'd lose it on the back end. If you bought it right, you'll probably have to sell it "right" (for another buyer that is).
I've bought and sold salvage/rebuilt title Porsches, Corvettes, Hondas etc in the past and always sold for about 25-30% below market regardless of make. Of course the economy wasn't so bad then plus banks seem to have clamped down on loaning on salvage/rebuilt title cars, at least around me. I got out of the"business" because my potential buyers were having a hard time borrowing and that was in 2005/06.
I've bought and sold salvage/rebuilt title Porsches, Corvettes, Hondas etc in the past and always sold for about 25-30% below market regardless of make. Of course the economy wasn't so bad then plus banks seem to have clamped down on loaning on salvage/rebuilt title cars, at least around me. I got out of the"business" because my potential buyers were having a hard time borrowing and that was in 2005/06.
#20
The entire repair (body only no frame or engine damage) was extensively photo and written documented.
944/951 guy, what is the history of your car? What does the Carfax (FWIW) show? How many owners, etc. Before an insurance co will total a car the damage has to be ~50% of its' value. At least, that was the case with me in PA. In '08 I bought a 335 XI coupe. Picked it up on Saturday, and on Monday a lady pulled out in front of me (she had a stop sign, I didn't. 100% her fault). The initial estimate to fix the car was ~40% of what I had paid and they wouldn't total the car until they found engine damage and that put it over 50%. I also had an accident with my present C4 Cab. The car was 5 years old and had 89,000 miles on it. I have a stated value policy and the car was insured for MSRP (82k). They repaired the car (45k !), and it still has a clean carfax
#21
Thats a real bitch, because without the salvage title, that would be a desirable car.
If it had high miles, I'd buy it and use it as a daily.
But the low miles with salvage title puts it in a tough place.
If it had high miles, I'd buy it and use it as a daily.
But the low miles with salvage title puts it in a tough place.
#22
For those who think that buying real estate will give you financial freedom down the road; it'll be damn long road. The days of buying a house and watching it double/triple in price in 10 years are over, at least in the U.S.
#23
Well The reasons I think it was salvaged are:
Low KBB Value (as someone here has stated)
Needed a Door
A Complete Door Panel
Rocker Panel
+ other small stuff here and there im sure the estimating body shop put on there.
+ Body Work and Paint.
I dont know what the prices for those parts at a dealership are but I would guess in the $4-$7K Plus another $4-$6K in work and that quickly adds up to $8-$13k and these are just guesses, Body shop always try to qoute as high as possible so they dont loos money.
Its hard to explain a system like this and I get the feeling you guys are almost trying to say im hiding something when I am being as Blunt and True as I can.
Low KBB Value (as someone here has stated)
Needed a Door
A Complete Door Panel
Rocker Panel
+ other small stuff here and there im sure the estimating body shop put on there.
+ Body Work and Paint.
I dont know what the prices for those parts at a dealership are but I would guess in the $4-$7K Plus another $4-$6K in work and that quickly adds up to $8-$13k and these are just guesses, Body shop always try to qoute as high as possible so they dont loos money.
Its hard to explain a system like this and I get the feeling you guys are almost trying to say im hiding something when I am being as Blunt and True as I can.
#24
My question is, If my car was clean title........ Can you really find a 96' 993 with 19K miles in my color combination and with ABD/LSD for $35k? Cause I have never seen one at this price.
My Initial idea was that a clean title car like mine is worth $39-$42
Even if you take $38000 which I really think a Clean title car like mine is definatly worth Minus 25% is $28.5.
And 20-30% off for a salvage car is where the value sits in reality.
My Initial idea was that a clean title car like mine is worth $39-$42
Even if you take $38000 which I really think a Clean title car like mine is definatly worth Minus 25% is $28.5.
And 20-30% off for a salvage car is where the value sits in reality.
#25
Well The reasons I think it was salvaged are:
Low KBB Value (as someone here has stated)
Needed a Door
A Complete Door Panel
Rocker Panel
+ other small stuff here and there im sure the estimating body shop put on there.
+ Body Work and Paint.
I dont know what the prices for those parts at a dealership are but I would guess in the $4-$7K Plus another $4-$6K in work and that quickly adds up to $8-$13k and these are just guesses, Body shop always try to qoute as high as possible so they dont loos money.
Its hard to explain a system like this and I get the feeling you guys are almost trying to say im hiding something when I am being as Blunt and True as I can.
Low KBB Value (as someone here has stated)
Needed a Door
A Complete Door Panel
Rocker Panel
+ other small stuff here and there im sure the estimating body shop put on there.
+ Body Work and Paint.
I dont know what the prices for those parts at a dealership are but I would guess in the $4-$7K Plus another $4-$6K in work and that quickly adds up to $8-$13k and these are just guesses, Body shop always try to qoute as high as possible so they dont loos money.
Its hard to explain a system like this and I get the feeling you guys are almost trying to say im hiding something when I am being as Blunt and True as I can.
But, as I said before, a salvage title is a salvage title.
Forget for a moment if the next buyer likes the car; what happens when HE tries to sell it? It's not easy to sell, as you're finding out, and no matter how honest you are, people are skeptical of salvaged cars, as you're also finding out.
#27
I, for one, don't think you're hiding anything.
But, as I said before, a salvage title is a salvage title.
Forget for a moment if the next buyer likes the car; what happens when HE tries to sell it? It's not easy to sell, as you're finding out, and no matter how honest you are, people are skeptical of salvaged cars, as you're also finding out.
But, as I said before, a salvage title is a salvage title.
Forget for a moment if the next buyer likes the car; what happens when HE tries to sell it? It's not easy to sell, as you're finding out, and no matter how honest you are, people are skeptical of salvaged cars, as you're also finding out.
Because I really dont see $20-$22K being a realistic price for this car as someone posted earlier.
#28
Hopefully I make it out and see you there.
#29
My question is, If my car was clean title........ Can you really find a 96' 993 with 19K miles in my color combination and with ABD/LSD for $35k? Cause I have never seen one at this price.
My Initial idea was that a clean title car like mine is worth $39-$42
Even if you take $38000 which I really think a Clean title car like mine is definatly worth Minus 25% is $28.5.
And 20-30% off for a salvage car is where the value sits in reality.
My Initial idea was that a clean title car like mine is worth $39-$42
Even if you take $38000 which I really think a Clean title car like mine is definatly worth Minus 25% is $28.5.
And 20-30% off for a salvage car is where the value sits in reality.
I looked at a fellow RL'ers 95 cab with 21k on the clock he wanted mid 30's and that technically less miles than yours (given the year).
Keep in mind, the 96 is OBD2, ECU is different than the other years and if someone wants a LSD car, those other items are a consideration too.
My father fought "salvage" titles before with proof of value and repair details, and got clean titles, you'd be best served to go do some leg work and attempt the same.
#30
The flaw I see in your logic, is that you are assuming a 19K mile car in very nice condition with a salvage title appeals to the same buyer that the other low mile pristine cars appeal to.
The reality is that those low mile cars are usually snapped up by the specialty dealers (Sloan, Willhoit, Truespeed) and marketed at top dollar to the type of buyer who wants a low mile "perfect" car. These folks see them as investments (no comment), or the closest to "original & new" that you can get on a car of that age.
The problem is that once the 'Salvage' stamp is on that title, it no longer appeals to those buyers.
Your market is going to be the daily driver/long term keeper buyer (as some have already stated)... so your starting point should be comparing it to the typical daily driver price... not the "collectible" price adjusted by 25%... It's just not the same market segment. imho of course.
The reality is that those low mile cars are usually snapped up by the specialty dealers (Sloan, Willhoit, Truespeed) and marketed at top dollar to the type of buyer who wants a low mile "perfect" car. These folks see them as investments (no comment), or the closest to "original & new" that you can get on a car of that age.
The problem is that once the 'Salvage' stamp is on that title, it no longer appeals to those buyers.
Your market is going to be the daily driver/long term keeper buyer (as some have already stated)... so your starting point should be comparing it to the typical daily driver price... not the "collectible" price adjusted by 25%... It's just not the same market segment. imho of course.