A friend of mine is considering to buy a salvage titled 993 locally. The car was hit on the right side and repainted a different color than the original color. Paint job and body work looks okay although the engine bay still has the original color which is different than the rest of the car. When scrutizing closely, you can tell that the car is salvaged and has been repaired. At a glance the car looks very nice and drives pretty well. It's a '96 C2 Tiptronic with about 20K miles and has some nice options. Assuming that a PPI is done and there are no major safety or strutural damage issues, what do you guys think this car is worth? My friend needs some input to make a fair offer. My advise to him is to do a thorough PPI. If there are any safety issues, run from the car no matter how attractive the price. If the car checks out, I think it's worth $28K-$30K. That may sound very low but considering that I sold my 'near perfect' low mileage '96 C2 five months ago for $42K that price sounds about right. Without a minimum $10K-$15K price incentive, I don't think it's worth it to buy a salvage title car. Appreciate your input.

 

[quote]Originally posted by John in Norcal:
<strong>That may sound very low ....</strong><hr></blockquote>

That actually doesn't sound that low to me. If an excellent '96 narrowbody can be had for the low 40's (in the Bay Area), then the discount for a car like the one you described (one where you can tell it was repaired due to the inconsistent paint etc) should be significant. And it is a Tiptronic, which doesn't add value to me.

With so many nice cars out there I wouldn't recommend that anyone settle for a car like this.

All of above is JMHO.

 

Hey John,

I have absouletely no experience or knowledge about anything slavaged and/or repainted etc.
But from the numbers you are describing, I am inclined to agree with Kevin on all points.
The better price will obviously go to the salvaged car, but which is the better investment?
Now we all know that a car is not an investment but long term, I would think that paying the additional 10-14k for a pristine car would be a much smarter choice.
I know this isn't the answer your looking for, sorry.
But a 96 car, tiptronic, salvaged, repainted to a non orginal color, I'd keep looking.
If the car were going to be turned into a race car, then maybe I could understand it. But it's a tip..

Just my opinion.
b-

 

I think much depends on what you want to do with the car.

If it's gonna be your "pride and joy," then I'd pass...you KNOW what it has been through. Also, if it's something you think you might sell a few years down the road, again, know that others will stay away like the plague. OTOH, if you know all this and can negotiate a really GOOD price, especially if it's, say, a track car or a fun runabout car, then why not pick one up cheap. Understanding, of course, that at least some of the money saved now will likely be spent in "fixes" later. If I had disposable income (I don't) and could wrangle an attractive deal, I'd pick it up, albeit a 6 spd, and learn how race that baby while my "nice" 993 does daily driver duty. Just my thoughts!

Edward

 

I wouldn't touch this car at any price above wholesale, cash value as an ex-totalled source of parts... unless I had detailed history, including records of the accident (photos, interview owner) & repair (interview body shop staff, photos, repair parts list).

 

Just walk away! when your buddy has to resale the car then he will be stuck with the salavage title.

Why bother! Buyers market. Just find a clean one and make an offer(no shame) since lots of porsches for sale.

Good luck

 

Assuming a few things here:

1. The cars only problem is the different color

2. PPI and alingment check OK

3. Good Body Shop Review OK

4. Speak with and records of all repairs done at body shop

5. Not worried about resale

6. Car drives okay

I would certainly consider it for around $24. Lots of people need high mileage or other strange things to be able to afford a 993. If its between this and a much older car for the same money and the things mentioned above are okay, I would consider it. If the buyer can afford any 993 and is worried about resale down the road (the absolute worst thing to think about when buying any car, IMHO) then he should deinately wait.

<a href="http://www.pcarracing.homestead.com/files/virviper/Dscn9606.jpg" target="_blank">Greg's Race Car</a> is a slavage title and I could not tell any problems with it - and that was at 150 at VIR. Great way to buy a race car.

E. J.

 

Perhaps it is less important, but your friend should also check with his insurance company. They may not insure the vehicle for the amount your friend is willing to pay. It's probably worth him making that phone call.

Regards,

Dan
'97 993tt
'89 930 3.4

 

Another point is financing. Some banks will not finance a salvage title car and others give a low stated value and require a high down payment.

 

Sound advice from all. Thanks.

The owner is asking 36K for this car which he'll never get unless he finds a totally naieve buyer. My buddy will probably offer him mid- 20s IF the car checks out structurally and mechanically during a PPI.

Will let you guys know how it turns out.