2001 Boxster S - salvage title - value?
11-01-2007, 11:32 PM
#16
Burning Brakes
Whatever you decide the value of the car is, I get the feeling you haven't fully considered how difficult it will be to sell this car, and how little you will get for it. There aren't many people in the market to buy a used Boxster in the first place, and I bet at least 95% of those people won't even consider a salvage title car. Not trying to be harsh - just trying to save you some future headache.
If you're willing to spend say $15K for a Boxster, spend a few grand more and get one with a clean history. It will be worth it in the end.
If you're willing to spend say $15K for a Boxster, spend a few grand more and get one with a clean history. It will be worth it in the end.
11-02-2007, 02:09 AM
#17
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Well, he did say he was gonna keep it forever. But who actually does that? In any case, if you decide you don't want it as a street car anymore, you can just turn it into a full all out race car.
After that, you can sell it as a race car if you get tired of it. People won't care about the salvage title at that point. The value of the car will be in the parts and upgrades. They all get smashed up on the track eventually.
If you don't do the race car route and you still wanna sell it, you'll be lucky to get a bag of fertilizer for it. I've been shopping around and looking at boxsters for about a month now, and I don't even glance at salvaged stuff.
After that, you can sell it as a race car if you get tired of it. People won't care about the salvage title at that point. The value of the car will be in the parts and upgrades. They all get smashed up on the track eventually.
If you don't do the race car route and you still wanna sell it, you'll be lucky to get a bag of fertilizer for it. I've been shopping around and looking at boxsters for about a month now, and I don't even glance at salvaged stuff.
11-02-2007, 12:50 PM
#18
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Yeah, exactly. The only reason I would buy a salvage car like this would be to part it out. If the chassis is straight, then it would become a race car without title...
11-02-2007, 02:30 PM
#19
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Jerry, I have an 01 Boxster S with a salvage title. I paid $10,300.00 at auction for the car. it was hit in the front and cost me about $3,200.00 for all repairs. I changed the color from Artic Silver to Slate Grey Metallic. The car had 23,000 miles on it. I love this car, It has been completed for about 6 months, I have driven it about 6,000 miles. The plan is never to sell, but If I did sell It should bring aprox. 20 to 25% less than market value. I also had a 99 Boxster Salvage (water Damaged) I paid $8,600.00 it ran aprox. $2,500.00 for repairs. I sold that car for $17,900.00 on ebay in 2005. The wonderful thing about a salvage car is the low cost of operation (if you enjoy working on the car), It becomes very easy to customiize because I have no concern of re-sale.
11-02-2007, 11:30 PM
#21
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Jerry, I have an 01 Boxster S with a salvage title. I paid $10,300.00 at auction for the car. it was hit in the front and cost me about $3,200.00 for all repairs. I changed the color from Artic Silver to Slate Grey Metallic. The car had 23,000 miles on it. I love this car, It has been completed for about 6 months, I have driven it about 6,000 miles. The plan is never to sell, but If I did sell It should bring aprox. 20 to 25% less than market value. I also had a 99 Boxster Salvage (water Damaged) I paid $8,600.00 it ran aprox. $2,500.00 for repairs. I sold that car for $17,900.00 on ebay in 2005. The wonderful thing about a salvage car is the low cost of operation (if you enjoy working on the car), It becomes very easy to customiize because I have no concern of re-sale.
11-03-2007, 12:31 AM
#22
The plan is never to sell, but If I did sell It should bring aprox. 20 to 25% less than market value.
And where did you come up with that figure? If you sell a salvaged car, it will have to be a private sale since no Dealer will touch it. As others have pointed out, the market for Boxsters is tiny and the market for salvaged Boxsters is infinitesimal. I had a friend who thought he got a great deal on a salvaged M3 until he tried to sell it. He paid $18K for the car, kept it for four years, and then tried to sell it. After spending over $300 in ads over a year and a half, he gave up and is now parting the car.
And where did you come up with that figure? If you sell a salvaged car, it will have to be a private sale since no Dealer will touch it. As others have pointed out, the market for Boxsters is tiny and the market for salvaged Boxsters is infinitesimal. I had a friend who thought he got a great deal on a salvaged M3 until he tried to sell it. He paid $18K for the car, kept it for four years, and then tried to sell it. After spending over $300 in ads over a year and a half, he gave up and is now parting the car.
11-03-2007, 01:09 PM
#23
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The car will not sell unless you have:
A: A sucker...sorry, but yes.
B: Someone looking for a track car
C: Someone that needs parts and will further strip it and part it out for a large profit
D: You lie and sell it to someone who doesn't know it's salvage...by transferring the title between states that do not require the salvage to be listed on the title.
Either way, it's not worth it. And to the person that said it's worth 20-25% of market value....yeah, right. No bank will give a loan for it...what does that tell you that it's worth?
A: A sucker...sorry, but yes.
B: Someone looking for a track car
C: Someone that needs parts and will further strip it and part it out for a large profit
D: You lie and sell it to someone who doesn't know it's salvage...by transferring the title between states that do not require the salvage to be listed on the title.
Either way, it's not worth it. And to the person that said it's worth 20-25% of market value....yeah, right. No bank will give a loan for it...what does that tell you that it's worth?
11-03-2007, 04:12 PM
#24
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Wow,
First of all when I sold the car on ebay I stated the title was a salvage. I also gave an in depth explanation w/pics of what we had done to the car. Selling a salvage car is not why (in my opinion) you should be buying it. The idea for me was buy the salvage rebuild and then have a toy (paid for) that I can customize as I please, again without any concern on re-sale. As for the statement on "try to get a bank to finance", you are right, If I were a bank I would not finance a salvage title. In closing I have a Friend thats works for a name brand insurance company and his job is to liquidate the inventory of cars on a weekly basis. he gets lots of interesting cars some are a deal some are junk. It is a risk the payoff is, if you can forsee the potential the savings can be great.
First of all when I sold the car on ebay I stated the title was a salvage. I also gave an in depth explanation w/pics of what we had done to the car. Selling a salvage car is not why (in my opinion) you should be buying it. The idea for me was buy the salvage rebuild and then have a toy (paid for) that I can customize as I please, again without any concern on re-sale. As for the statement on "try to get a bank to finance", you are right, If I were a bank I would not finance a salvage title. In closing I have a Friend thats works for a name brand insurance company and his job is to liquidate the inventory of cars on a weekly basis. he gets lots of interesting cars some are a deal some are junk. It is a risk the payoff is, if you can forsee the potential the savings can be great.
