Total loss
02-01-2019, 10:36 PM
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Total loss
I’m in the market for a 981 Cayman S. I found one at a price that was just a little too good. Sure enough it was totaled, repaired and re-registered under a salvage title.
My primary use for the car is as a track car I’ll drive to/from events. I plan to add a center radiator, roll bar, seats & harnesses and upgrade the suspension, brakes and tires/wheels.
So here’s the question:
A) Stay away, no matter how good the deal looks!
B) Depending on the extent of the damages and the quality of the repair, if the price is right, go for it!
My primary use for the car is as a track car I’ll drive to/from events. I plan to add a center radiator, roll bar, seats & harnesses and upgrade the suspension, brakes and tires/wheels.
So here’s the question:
A) Stay away, no matter how good the deal looks!
B) Depending on the extent of the damages and the quality of the repair, if the price is right, go for it!
02-01-2019, 10:40 PM
#2
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I’m in the market for a 981 Cayman S. I found one at a price that was just a little too good. Sure enough it was totaled, repaired and re-registered under a salvage title.
My primary use for the car is as a track car I’ll drive to/from events. I plan to add a center radiator, roll bar, seats & harnesses and upgrade the suspension, brakes and tires/wheels.
So here’s the question:
A) Stay away, no matter how good the deal looks!
B) Depending on the extent of the damages and the quality of the repair, if the price is right, go for it!
My primary use for the car is as a track car I’ll drive to/from events. I plan to add a center radiator, roll bar, seats & harnesses and upgrade the suspension, brakes and tires/wheels.
So here’s the question:
A) Stay away, no matter how good the deal looks!
B) Depending on the extent of the damages and the quality of the repair, if the price is right, go for it!
02-02-2019, 11:29 AM
#4
-Mike
02-02-2019, 12:06 PM
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This all sounds like good advice. I appreciate the sounding board.
It’s currently registered and insured, so I don’t think that will be a problem but I’ll verify with my agent. I’ll also make sure the PPI includes thorough examination of the crash repair including an attempt to identify any electrical gremlins.
Some follow up questions:
It’s currently registered and insured, so I don’t think that will be a problem but I’ll verify with my agent. I’ll also make sure the PPI includes thorough examination of the crash repair including an attempt to identify any electrical gremlins.
Some follow up questions:
- With some cars, there’s a substantial aftermarket supply of non-OEM parts insurance companies like to use to keep repair costs low. How likely is that in the case of a car that had significant car-to-car contact on the left front?
- Will a qualified shop be able to identify electrical issues by pulling codes?
02-03-2019, 01:29 AM
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I was able to get a copy of the state agency damage assessment and repair inspection forms. According to those documents the damage included front bumper, grill, bonnet, both fenders, left side headlight, radiator support and windshield. The frame rails, unibody and strut towers were not damaged. There was no mention of suspension damage.
The parts were replaced with OE parts, and the car was partially repainted. 70 hours of labor was reported. Work was completed by a rebuilder who purchased the car at auction from the insurance company. The car has approximately 7000 miles on it since the repairs were completed. The car is available for about $15K under market value.
So, the questions remain:
If anyone here has experience in this area, I’d love to hear your thoughts.
The parts were replaced with OE parts, and the car was partially repainted. 70 hours of labor was reported. Work was completed by a rebuilder who purchased the car at auction from the insurance company. The car has approximately 7000 miles on it since the repairs were completed. The car is available for about $15K under market value.
So, the questions remain:
- Were the damages too extensive?
- Were the repairs done correctly?
- Is the price right?
If anyone here has experience in this area, I’d love to hear your thoughts.
02-03-2019, 05:52 AM
#7
Instructor
Are you buying from the actual rebuilder or the person who bought from the rebuilder? I would feel far more comfortable buying from the rebuilder, being able to see some photos and knowing the whole story.
You mention a few times that it doesn't have to be perfect because it will be a track car. I see things exactly opposite. A car driven on track is being driven near its limits and the chances of a high speed accident are increased so I want the car I bring on track to be rock solid.
In terms of resale understand that a salvage title car is not going to be easy to sell. It is not a car you can trade in because dealers rarely want to deal with a salvage car and the value that does exist is highly dependent on the quality of the repair. In terms of buyers in the private market I would guess that perhaps 10% of potential buyers would continue to consider a car after they learn of the salvage title, perhaps less. When you add that you have been using it as your track car that market will likely shrink more.
I would want to get a very complete history including the photos of the damage (normally those are easy to find from the insurance auction), detailed repair history including all of the parts and photos of the repairs.
The questions on price are really about what the car/risk is worth to you. I don't know what 15K under value is in terms of percentage of the market value of the other cars available are. If you do buy it plan on keeping it long term because selling it will a real challenge.
You mention a few times that it doesn't have to be perfect because it will be a track car. I see things exactly opposite. A car driven on track is being driven near its limits and the chances of a high speed accident are increased so I want the car I bring on track to be rock solid.
In terms of resale understand that a salvage title car is not going to be easy to sell. It is not a car you can trade in because dealers rarely want to deal with a salvage car and the value that does exist is highly dependent on the quality of the repair. In terms of buyers in the private market I would guess that perhaps 10% of potential buyers would continue to consider a car after they learn of the salvage title, perhaps less. When you add that you have been using it as your track car that market will likely shrink more.
I would want to get a very complete history including the photos of the damage (normally those are easy to find from the insurance auction), detailed repair history including all of the parts and photos of the repairs.
The questions on price are really about what the car/risk is worth to you. I don't know what 15K under value is in terms of percentage of the market value of the other cars available are. If you do buy it plan on keeping it long term because selling it will a real challenge.
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02-03-2019, 10:10 AM
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Are you buying from the actual rebuilder or the person who bought from the rebuilder? I would feel far more comfortable buying from the rebuilder, being able to see some photos and knowing the whole story.
You mention a few times that it doesn't have to be perfect because it will be a track car. I see things exactly opposite. A car driven on track is being driven near its limits and the chances of a high speed accident are increased so I want the car I bring on track to be rock solid.
In terms of resale understand that a salvage title car is not going to be easy to sell. It is not a car you can trade in because dealers rarely want to deal with a salvage car and the value that does exist is highly dependent on the quality of the repair. In terms of buyers in the private market I would guess that perhaps 10% of potential buyers would continue to consider a car after they learn of the salvage title, perhaps less. When you add that you have been using it as your track car that market will likely shrink more.
I would want to get a very complete history including the photos of the damage (normally those are easy to find from the insurance auction), detailed repair history including all of the parts and photos of the repairs.
The questions on price are really about what the car/risk is worth to you. I don't know what 15K under value is in terms of percentage of the market value of the other cars available are. If you do buy it plan on keeping it long term because selling it will a real challenge.
You mention a few times that it doesn't have to be perfect because it will be a track car. I see things exactly opposite. A car driven on track is being driven near its limits and the chances of a high speed accident are increased so I want the car I bring on track to be rock solid.
In terms of resale understand that a salvage title car is not going to be easy to sell. It is not a car you can trade in because dealers rarely want to deal with a salvage car and the value that does exist is highly dependent on the quality of the repair. In terms of buyers in the private market I would guess that perhaps 10% of potential buyers would continue to consider a car after they learn of the salvage title, perhaps less. When you add that you have been using it as your track car that market will likely shrink more.
I would want to get a very complete history including the photos of the damage (normally those are easy to find from the insurance auction), detailed repair history including all of the parts and photos of the repairs.
The questions on price are really about what the car/risk is worth to you. I don't know what 15K under value is in terms of percentage of the market value of the other cars available are. If you do buy it plan on keeping it long term because selling it will a real challenge.
Thanks for the thoughtful response. These are helpful suggestions, especially the recommendation to get photos and details of the damage and repairs.
I should clarify my comments on a willingness to accept a less-than-perfect car are related to cosmetic aspects, not mechanical things that will negatively affect the car’s performance or safety.
02-03-2019, 10:27 AM
#9
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Are you looking for what ultimately will be a donor for a car that isn't street legal and is trailered to/from the track or a car to track occasionally? If the former, inspect it and decide from there.
If the latter, resale of a tracked salvage title car will be very difficult I think.
If the latter, resale of a tracked salvage title car will be very difficult I think.
02-03-2019, 12:22 PM
#10
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Another point. Once it's a track alcar and not insured under regular insurance, you would never know what the extent of damage has been done, if any. Salvage only means that the financial decision was made to scrap a car, not the extent of damage. Hail damage makes salvage titles and it's only superficial.
If the car has been fixed right and will be track only, go for it.
If the car has been fixed right and will be track only, go for it.
02-03-2019, 04:06 PM
#11
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That's a lot of damage. Even for a potential track/race car.
02-04-2019, 12:18 AM
#12
If you do go that route make sure to get a very qualified PPI, esp looking at the weak points/cracking in the Aluminium chassis.
02-04-2019, 12:47 AM
#13
Putting my detective hat on, based on the windshield damage (and only 1 headlight?) I'd wager this was a deer collision. Possibly have a good collision shop inspect it as well, usually those guys are good at spotting signs of damage that may have been overlooked during sub-par repairs such as uneven panel gaps or misaligned trim.
02-04-2019, 08:07 AM
#15
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Because of the cost to repair Porsches for the insurance company I see a lot of Porsches that are structurally sound totaled. Most Porsche owners will never be satisfied with a repaired vehicle and the insurance company's just do not want to deal with it so they the total it. This car sounds like the case and was most likely repaired with salvage parts and is completely acceptable especially as a race car. You don't have to worry about substandard body parts for a Porsche because they don't exist. its either used or brand new oem.