Salvage Title

85eurocarrera · 85eurocarrera's Garage

Assuming it passes an inspection by a Volvo Specialist Shop, it seems like a no brainer. No air bags deployed. New hood, driver fender, front and rear bumper, tailgate, radiator and couple other things. "Supposedly" No frame damage.

Interior near perfect, smells new. Body work very nice. Specializes in this kind of work, building cars from totals. Specifically Volvo's. Does high end street rods and customs, this work pays his bills.

I plan to keep it as a DD and possibly pass it along to daughter in 6-7 yrs when she gets her license.

Anybody bought a "rebuilt" car and or have any wisdom to provide?

Thanks.

greglepore · 09-17-2015, 10:18 AM

Joe-see my post in the "rear ended in my cayman" thread. I've got a salvage A8. My personal preference is for light water damage or hail cars, but collision cars are ok if done right. Lots of folks doing this sort of work now.
Its a good situation if you are going to drive it til its a beater, not so good if you'll be bored with it in a couple years. Selling them is no fun until they're beaters, as everyone either passes on the rebuilt title or beats you up with it until your sick.

Another couple things-they can be difficult to finance, and make sure that your insurer is ok with insuring a rebuilt vehicle for collision and comp. Most are, some are very funky about it.

85eurocarrera · 85eurocarrera's Garage

Looks like this now. I put 50 miles on it, highway and back roads. It was rock solid.

Nickshu · Nickshu's Garage

Agree no brainer. Unfortunately "salvage title" doesn't mean what it used to b/c insurance companies total many premium cars with very little damage b/c the parts/labor cost to repair is so high. If you are sure you would keep the car for the long haul, and aren't worried about any financing or residual value issues then go for it.

Mike80911 · Mike80911's Garage

That was the fastest fix I ever saw all in one day amazing.
Looks good now. If the price was right I would be a salvage title that had no frame damage

Dantilla · 09-17-2015, 10:51 AM

I've bought a few from insurance auctions. I have no problem driving them.
I guess the advantage is seeing the damage, knowing it's an easy repair before bidding.

85eurocarrera · 85eurocarrera's Garage

Quote:

Originally Posted by greglepore

Another couple things-they can be difficult to finance, and make sure that your insurer is ok with insuring a rebuilt vehicle for collision and comp. Most are, some are very funky about it.

That's what I am wondering. I am waiting for my insurance company (State Farm) to get back to me about a small loan. Was planning on buying something cheaper for cash, but I stumbled upon this. I gave them the VIN, but haven't mentioned anything about the title.

Thanks.

Laneco · 09-17-2015, 11:23 AM

We've owned quite a few salvage cars, including my 911 Butters. Fixed properly, no issues. You will have a lower resale value but that is to be expected as you had a lower purchase value.

Airbag deployment can be a little tricky. Yours had no deployment - so no issues for you, but I've seen really hokey and dangerous stuff with airbags. The ones in the dash and steering wheel are immediately obvious, but it is the side curtain and airbags in the seat/side impact that abides no tom foolery as it is mostly hidden...

I think this will be a terrific car for you and later for your daughter. I hate writing off a car with mainly cosmetic damage. Seems horribly wasteful.

angela

85eurocarrera · 85eurocarrera's Garage

So the branded salvage title brings about a 30% discount over a comparable non branded vehicle? This one is at about 20%.

aschen · 09-17-2015, 12:59 PM

I don't think a 20% discount is sufficient for this car, I would think this car should have something like 1/3rd off and a less documented salvage title car would be more like 50% discounted.

What is the insurance company going to give you if it gets written off again?

AES

strupgolf · 09-17-2015, 01:07 PM

I'm confused. Today, AM, it looks like crap, and then today, PM, it's all rebuilt and driven? Hmmmmm

85eurocarrera · 85eurocarrera's Garage

Quote:

Originally Posted by strupgolf

I'm confused. Today, AM, it looks like crap, and then today, PM, it's all rebuilt and driven? Hmmmmm

First post pictures are documented from accident about 8 months ago.

Other pic is from yesterday.

85eurocarrera · 85eurocarrera's Garage

Quote:

Originally Posted by aschen

I don't think a 20% discount is sufficient for this car, I would think this car should have something like 1/3rd off and a less documented salvage title car would be more like 50% discounted.

What is the insurance company going to give you if it gets written off again?

AES

I agree. He is willing to negotiate. I'm thinking closer to 30-35%

My insurance company is fine insuring the car. I didn't ask about write off, but I will.

Finding a bank to finance 10K on this vehicle seems to be the problem now. State Farm and my local bank I use for my business are a no go.

greglepore · 09-17-2015, 01:47 PM

I'm surprised the rebuilder doesn't have a relationship with a local bank. My dealership did, but they do 100's of these cars, VW's to Ferrraris. They prefer cash, but can work with a bank if buyers credit is excellent. Bank doesn't want a repo on one of these as they're anathema at auction.

2porscheguy · 2porscheguy's Garage

Quote:

Originally Posted by Laneco

We've owned quite a few salvage cars, including my 911 Butters. Fixed properly, no issues. You will have a lower resale value but that is to be expected as you had a lower purchase value.

Airbag deployment can be a little tricky. Yours had no deployment - so no issues for you, but I've seen really hokey and dangerous stuff with airbags. The ones in the dash and steering wheel are immediately obvious, but it is the side curtain and airbags in the seat/side impact that abides no tom foolery as it is mostly hidden...

I think this will be a terrific car for you and later for your daughter. I hate writing off a car with mainly cosmetic damage. Seems horribly wasteful.

angela

As usual, Angela brings up a very good point....airbags! I'm no expert in this and this makes me curious but is it possible that they may be in a state of "partial deployment" after an accident like this, ready to go off after the vehicle hits a pothole or some other minor event? With all the recent airbag recalls I guess I might be a little concerned that the airbags may be somewhat compromised.

BoxsterSteve · 09-17-2015, 02:09 PM

We got this in the summer of '08.
A 2007 Forester, tapped from behind and pushed into the vehicle in front of it. Cosmetic damage only, no deployed air bags.
It's great on gas, comfortable and great in the snow. It's only been brakes, oil changes and two sets of tires for the first 6 years; but got bitten by the Subaru head gasket bug last winter. That sucked, but could have happened, branded or not.

It is branded rebuilt, and as has been mentioned, would be impossible to sell again, even if you could find someone willing to buy an 8 year old branded car.
I'm OK with it being in my driveway until it goes to the crusher.
Would I do it over? Can't say for sure, but this car has been a pretty good experience.

t-tom · 09-17-2015, 02:13 PM

I have a 1995 BMW M3 that is salvage titled. Scored it cheep and I beat the crap out if it all the time!

Steve Carlton · 09-17-2015, 02:42 PM

What's the model year and the last 6 of the VIN? How much is the seller asking?

onewhippedpuppy · 09-17-2015, 03:48 PM

Airbags either go or they don't. I wouldn't say to avoid it, but it should be cheaper.

85eurocarrera · 85eurocarrera's Garage

It's a 2012. 21,000 miles. That should be enough info for you to figure out the rest.;-).

My credit is fine. I'm talking to a banker friend tomorrow. I bank with Merrill Lynch so no auto loans.

I guess he's just waiting for a cash buyer at $20k+. Car located in an affluent area. Some millionaire will pick it up for his nanny or something.