salvage title vs. total loss
#1
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Thread Starter
salvage title vs. total loss
Still looking over here and now have discovered that the car I'm interested in is not a "salvaged" title car but was written off as a "total loss" due to theft/stripped on Jan. 17th 2001.
Question time:
As "stories" go, how does this one rank?
How should this effect the price of the car?
Is this a reasonable "story" that will not make it difficult for me when/if I decide to sell the car?
1995 NB. I'm in love with it, right color, mods, miles, price.
Thanks again everyone, Merry Christmas!
Matt
Question time:
As "stories" go, how does this one rank?
How should this effect the price of the car?
Is this a reasonable "story" that will not make it difficult for me when/if I decide to sell the car?
1995 NB. I'm in love with it, right color, mods, miles, price.
Thanks again everyone, Merry Christmas!
Matt
#2
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It is definitely a big story. Having said that, the car's history since the incident as well as its current condition can go a long way to make you and any future owner happy. A VERY thorough PPI, perhaps at both a mechanical shop and a body shop familiar with these cars, would be key. Price? I'd say 20-25% less than a similar car without a story.....maybe more.
#3
Three Wheelin'
Salvage, total loss, rebuild, rebuilt, branded etc. are all the same in my book. I personally wouldn't buy one as the savings upfront come right off when you go to sell it.
With that being said, if you want to move forward make sure the "story" is documented I.e. receipts and photos of the work because oftentimes the story is usually just that, a STORY...
I laugh because I was offered a 993 that had a salvage title and I was told that it was salvaged due to a theft of the interior and wheels. Well when I actually inspected the car there wasn't a correct body gap anywhere nor an original paint panel. So much for the story...
I think values on branded cars should be about 1/2 of a comparable non branded car. Most banks agree as most will only loan 1/2 of book on them. Note the sale price of the 993tt on EBay last month with a salvage title, brought about 1/2 of market.
With that being said, if you want to move forward make sure the "story" is documented I.e. receipts and photos of the work because oftentimes the story is usually just that, a STORY...
I laugh because I was offered a 993 that had a salvage title and I was told that it was salvaged due to a theft of the interior and wheels. Well when I actually inspected the car there wasn't a correct body gap anywhere nor an original paint panel. So much for the story...
I think values on branded cars should be about 1/2 of a comparable non branded car. Most banks agree as most will only loan 1/2 of book on them. Note the sale price of the 993tt on EBay last month with a salvage title, brought about 1/2 of market.
#4
Burning Brakes
As said here make sure things are documented. There are cases where a vehicle will be written off as a total loss, then recovered later with little damage.
I bought a truck that was in this situation. The owner provided me with a full set of pictures from the police impound, plus pictures of the restoration so there were no surprises.
Even then little things came up, like later finding out that the parking brake cable was held together with cable ties...
The really crucial thing on a car is to make sure that the frame was not damaged in any way, everything else can be replaced.
Best of luck!
I bought a truck that was in this situation. The owner provided me with a full set of pictures from the police impound, plus pictures of the restoration so there were no surprises.
Even then little things came up, like later finding out that the parking brake cable was held together with cable ties...
The really crucial thing on a car is to make sure that the frame was not damaged in any way, everything else can be replaced.
Best of luck!
#5
Rennlist Member
Thread Starter
Current owner doesn't have photos, receipts etc. to back up the stripped story, but does have docs from the body shop and the mechanic that did the PPI in 2005 when he bought it from a dealer and everything checked out with the story he was given at the time.
I'm leaning on the side of the owner here because the interior, airbags, wheels, etc are all in excellent condition, not 1995 vintage. By no means will I move forward without having these checks done again by my own people.
Because he has such paperwork that check out, he is also unwilling to come off his price. I havn't played hardball yet telling him he will be hard pressed to find another buyer, if ever, at market value. I guess price will determine everything in this case. Even if the tale is true, the car will always have a skeleton...but don't we all.
I'm leaning on the side of the owner here because the interior, airbags, wheels, etc are all in excellent condition, not 1995 vintage. By no means will I move forward without having these checks done again by my own people.
Because he has such paperwork that check out, he is also unwilling to come off his price. I havn't played hardball yet telling him he will be hard pressed to find another buyer, if ever, at market value. I guess price will determine everything in this case. Even if the tale is true, the car will always have a skeleton...but don't we all.
#6
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Different states brand titles differently in case of what's commonly called "totaling the car". Some have a single "branded" title. Some have two separate titles - one "rebuildable" and one not. Moreover, a branded title can be "washed" in some states and not others.
In case of a 993 it depends on what you are looking for. If you are looking for a good driver at a low cost with a clear understanding that it's not going to be particularly liquid when it comes time to sell - investigate further. If it was, indeed, theft-related total it's not a bad buy as a drive. But without knowing miles and price it's pretty much a wild *** guess. Don;t be bashful, let us know if you want specific advice.
In case of a 993 it depends on what you are looking for. If you are looking for a good driver at a low cost with a clear understanding that it's not going to be particularly liquid when it comes time to sell - investigate further. If it was, indeed, theft-related total it's not a bad buy as a drive. But without knowing miles and price it's pretty much a wild *** guess. Don;t be bashful, let us know if you want specific advice.
#7
I would want no part of that vehicle. All things 993 can add up pretty quick. Why start out behind the 8 ball w ANY story, esp one like this. Pass, the perfect car is out there, just takes time.
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#9
Rennlist Member
I think there are many variables here and not all the facts are known. However, it will never be worth as much as a non-salvage car.
A car with a accident/salvage title at 12K miles which now has 44K miles has proven itself as a solid driver in my book, but will still need a through PPI. Value is in the eye of the beholder.
Look at what Ninemiester can do w/ a shell.
If the salvage title was issued and the car has maybe 2-5K miles afterward, it has not proven itself yet, and I'd probably stay away unless I knew all the details and the level of expertise of the re-builder.
From my own personal experience, back in 1988 had a front end accident w/ one of my Audi. The day the adjuster came to view the car (outside) it was pouring buckets and he did not want to get out of his car and declared it a total loss without even inspecting it. My body guy was appalled. It had 50K miles on it and was a real nice car.
I bought it back from the insurance company, had it repaired professionally (you would never have known) pocketed almost $7K , and drove it (kept it as a winter beater) until 265K miles.
Regards,
#10
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Ask yourself, What drives the giddy up with this specific 993? ... Is it the low, low adjusted asking price, specific to this very vehicle??? Or is it the pre-purchase process anticipation coupled with enthusiasm for a new Porsche sports car??? Prospectively speaking, there's 993's with collision work ranging from rock/chip, shopping cart scratches, re-spray’s,,, All-the-way-to,,, complete panel replacement collision work. ...Beyond the aforementioned scope of collision work there’s the negatively branded Ownership Title. There's a big difference. In this trade who will pay for the vehicle's leprosy ...? As the buyer- Not Me...
#11
If a big lure for this car is the discounted price, I'd save up until buying a nicer one, and having a few grand after the purchase for whatever needs sorting out, isn't as much of a concern.
Saving some money to purchase a bad story car never makes sense to me. It can easily cost more down the line than a nicer car with no stories.
Personally, I'd pass. There are just too many nice 993s to choose from to buy a "storied" car. Keep an eye on the RL classifieds, one of the best place to find a nice 993. Your car will turn up at some point.
Saving some money to purchase a bad story car never makes sense to me. It can easily cost more down the line than a nicer car with no stories.
Personally, I'd pass. There are just too many nice 993s to choose from to buy a "storied" car. Keep an eye on the RL classifieds, one of the best place to find a nice 993. Your car will turn up at some point.
#13
Nordschleife Master
Stay away unless you want it to be a track only car.
No bank will loan you money for it, and most insurance companies will not insure it.
If your eyes are wide open and you can accept the risk go for it, but IMHO, there are a ton of good cars out there with far less risk involved.
No bank will loan you money for it, and most insurance companies will not insure it.
If your eyes are wide open and you can accept the risk go for it, but IMHO, there are a ton of good cars out there with far less risk involved.