Yeah yeah... You read the title, and I have read previous threads on the topic.

I was approached by someone with a rebuilt title 99 C2 with 86k miles that he was looking to sell. According to the Carfax the vehicle was totaled in 2006 with 56k miles on it.

The bad:
-Neither the current or owner prior to him know what why the vehicle was totaled
-Mileage discrepancy on the Carfax (but honestly, I think this is an clerical error based on service dates and reported mileage surrounding the inconsistent odometer readings)
-The car has only been driven about 30k miles since being totaled in 2006 with 56k miles on it

The good:
-4/98 date
-Well optioned (LSD, dealer installed full Porsche aerokit, hardback sport seats, factory GT3 console delete)
-IMS/RMS/clutch/water pump/window regulators were all replaced within the last 20k miles with records
-5 years of good results Blackstone oil analysis
-New tires

The unknown:
-New Eibach suspension and sway bars (no specifics on this at the moment)
-New Bilstein shocks (no specifics on this at the moment)
-997 ignition upgrade (coil, plugs, plug tubes)
-Flat6 intake & drop filter
-Seller states that exterior condition is very good and that the vehicle has ppf on the front end and mirriors
-claims to have been inspected by Porsche with them finding nothing wrong



Obviously before anything, I need to talk to my insurance broker to see how feasible it is to insure the car in my state. The current owner has an agreed value policy through State Farm for the vehicle for $30k, but insurance is very different from person to person and state to state.

Next step would be to have the vehicle test driven and PPI'd. I would specifically request to look for a cause for totaling the vehicle.

I understand the difficulty of reselling a branded title vehicle and the fact that you are potentially buying a rebuilt pile of literal scrap, but if the car looks good and is mechanically healthy, the discount price would go a fair ways in padding the maintenance budget even further.

EDIT: I spoke with the prior owner today about the vehicle. He bought the car from a friend who bought it without records. The PO I spoke with had two different indys look for flaws, but they found none. He mentioned that much of the car had been repainted, but that it was repainted very well. He suggested that I buy the car assuming I was going to buy and drive it and didn’t have any intention to try and flip it. He also said that the mileage discrepancy was definitely a clerical error at the Toyota dealership that put the tint on the car.

Here are some images of the car, oil analysis, and Monroney label. Carfax should be attached as well.

 

I've bought plenty of rebuilt titles, wrecked vehicles, including multiple porsche's. The economics rarely make sense if you're looking at it from a resell POV....but, if you're like me and you want to drive the **** out of them, and not have your feelings hurt when things crop up (recently put a sledge hammer through the fender of my 911)....it's a fantastic way to get enthusiast cars. If it tracks straight, and otherwise in good condition...you should do it :-D

 

[QUOTE=recently put a sledge hammer through the fender of my 911

 

If you can get it for $25k or less than it might be worth it but only if you were planning on keeping it a long time.

 

Owner is asking $23k, but might be flexible to go lower.

 

[QUOTE=meirschwartz;19309465]I pulled the drivers side door off to adjust the hinges (with said hammer)....and on the last hit of the night...to get the last red pubic hair of adjustment...i sent the antagonist of this story right into the fender (right after having the thought about how great I did not to miss, not even once).

 

[QUOTE=matthew.a.tanner;19309939]
That sounds like something I would do, pretty much how I roll. In my case I have found that better is the enemy of good over and over again.

 

Offer 20, buy it, drive the poo out of it, smile ALOT!

 

1. Drive it .
2. Get a PPI .
3. If the above two feel good offer 20k .
4. If you can buy for 20k go ahead and purchase and enjoy .

Unless you plan to flip I wouldn't worry too much about the title concern . It would be nice to figure out the reason for being totalled . But if it's been driven 30k since being totalled in my opinion the issues have been resolved . During the PPI instruct the shop to specifically look for crash and flood damage . It does sound like a nice car .

 

This is a <$15K car all day.

 

I think the <$15k days have past us by… At least for a running/driveable car that passes inspection…

 

If it's Tiptronic, yes. OP doesn't say. And the option list is pretty sweet, which would increase the value.

Rebuilt titles don't bother me when they have 30K miles added to the car since they were issued. Anything truly serious would likely have prevented that kind of mileage from being accumulated. For the right price, and assuming the engine isn't ready to grenade, this could be a really fun driver.

 

It is a 6 speed as seen in the photos and window sticker.

 

Put the pipe down.

 

This. The only thing I’ll add is: unknowns increase perceived risk, so the more time the OP spends to drive down risk by doing as much investigation as possible, the better the outcome. Even though two Indy’s checked out the car, it’s 3rd hand, and they maybe missed something. Ask me how I know