Salvage title - value

[bhmkv]

Originally Posted by DE47

I greatly appreciate your knowledge on this Adam.

Back to the original post (and point). What if you found an 80s SC without any evidence of damage (and no way of finding out why it has a salvage title) and is in comparable condition to a clean SC with a clean title. How much less? 1/3?

Have a trained eye look at it. I was recently car shopping for a newer SUV and couldn't believe all the bad repairs on dealerships lots. They just say clean car fox which clearly means nothing. I pointed out a bunch of off lease new cars that looked like a tech school fixed it. Ended up with a new car. Maybe I'm too picky.

[Otter74]

Originally Posted by DE47

What's anybody's thoughts on what/how much a reconstruction/salvage title does to a Porsche. A Salvage title can even be issued to a stolen car with zero damage. Assuming a car is as clean as a similar model with a clean title what would a rebuilt/salvage title discount the price?

My car, for reference:

No Reserve: 1980 Porsche 911SC Targa | Bring a Trailer

Not sure what it might have sold for if it had a non-branded title, but I'd guess about 5k more based on other sales I have seen since then. This car is a case of the title status arising from some unknown factor in the 1990s or 1980s (prior to the PO buying it in ~2001), but the car shows no evidence of a collision anywhere.

[DE47]

Great looking car Otter74. Sounds like you were well-respected for your openness in selling the car. Gotta make you feel good.

Now a question off-subject. Do you remember what the filter and tubing to it was? Looking for a K&N filter like that and haven't been able to find one anywhere.

[Otter74]

Originally Posted by DE47

Great looking car Otter74. Sounds like you were well-respected for your openness in selling the car. Gotta make you feel good.

Now a question off-subject. Do you remember what the filter and tubing to it was? Looking for a K&N filter like that and haven't been able to find one anywhere.

You misunderstand slightly - I was the buyer, not the seller, and so I am the current owner of the car. But yes, the seller (who had owned it for 15 years) was very open about the car and the car was exactly as presented.

I might have the part number for that filter in my records - it is some off-the-shelf K&N filter. Tubing is just plain aluminum tubing with a bung welded in.

[DE47]

Well I misunderstand easily :-)

I would have bought that car in a heartbeat if it were close to me....

If you find any info on the filter please let me know. I figured I may have to remove the stock filter and start making measurements but any help would be appreciated. Does it make a lot of (as in too much) intake noise?

[Nick Triesch]

Never buy a salvage title car. My Wife was and insurance adjuster with Farmers for 10 years and if a car costs more to repair than the car is worth, it is a salvage car. A friend of mine just bought a late model VW Jetta with a salvage title. After two months the car is not starting with strange electrical problems. The first thing the dealer asked my friend was " Is this a salvage car?" Because they are having a very hard time finding the problem.

[Matt Monson]

Any non-salvage old 911 can have starting problems. Don't think a Jetta that might have Katrina history is a good comp.

[bpu699]

There is another class of vehicles no one yet mentioned....

Those with a clean title, but declared salvage in the past. Years and years ago, that was not unusual. Many states didn't even have salvage titles. Some car dealers did this intentionally, I am sure. But there are likely millions of cars that fit this description...

I asked my agent once how they look at cars like this. He said that its the current title that matters... Clearly, worth less than a car with a clear title... But so you are aware...

As someone mentioned, the more time that passes, the less it matters. New car? Huge hit? 60 year old car? Probably zero hit as it will be restored or was (hell, they didn't have salvage titles back then)...

Whats a Ferrari gto that's been wrapped around a pole and burned to the ground worth, after its rebuilt from a scrap of frame? Oh, about 25 million$.

Salvage is a good deal, if you keep the car for a really long time...

I love looking at auctions for destroyed Ferraris...

A completely destroyed testarossa in pieces will sell at $35-40k at auction. A nice one is 90k. A great one $140k. People will suggest that one with a salvage title is worth 1/2 of a good one... Really? $45 k for a salvage car when one in pieces/unrepaired is $40k?

Anyone watch the guys on Monkey garage whatever, that sold a totaled f40? Did anyone see the words salvage mention at auction???

[antares]

… late to the party as usual yet here's a thought or two .. In this scenario, you purchase a salvage title car from a seller, not a wrecking company and yes you get it at a whatever decent discount. Now this car could be up and drivable as is or it has been sitting and needs work but you have checked and if it passes your DMV basic eyeball safety check, you can title it your good to go. So now you tend to the basic necessities of either getting it back on the road or spiffing it up using rebuilt, used, new parts either stock or performance parts. Now at this point we gotta factor in your parts costs and your time. O.K. so now you think I have a car that has a salvaged title but I'm rolling around in a Porsche cause you probably couldn't swing the purchase price of a non salvaged porsche of the same year/model so you consider yourself a pretty lucky guy and since no body reads your title like your license plate, who's to know otherwise. It has been our experience that a few possible and different scenarios can play themselves out here when it is time sell your affordable deal. One is you've stuck performance parts and upgrades to the tune of matching or even exceeding the same lesser stock version of your car's market value. Another, is you may just of done the rolling and driving get up and go basics and your still luckily a little under comparable book value. In the first scenario the only way your gonna get even an even chance of getting your cash investment back, ( and most likely not even your time costs back ) is to part the car out since no doubt you have some choice speed parts etc that are now attached to the car. However, parting a car out takes time and effort. A lot of time and effort but selling this car out right on the open market is going to cost you a loss unless you have stolen most of the special speed parts or bought them 20 years ago at then market or discounted prices. With the other scenario you would most likely attempt to just sell the car at current market if the economy is booming at near what you have in it but most likely at the same discounted price percentage you originally paid minus of course any real appreciation of true stock market value that has occurred during your ownership to your benefit. That is why some have said, you would need to hold onto the car for a long time to profit from this benefit. However, prolonged bull buying / great economy markets are getting further and fewer. Most likely you will not only be selling in a mediocre economy but also to a very limited number of folks, most of which are deal hunting wolves themselves …. Just a few my thoughts to reflect upon

[brianvb]

I bought a 65c cab 356 that spent a week in the ocean. Not sure if it's "salvage" title. Don't really care. Just wanna fix it and drive it.
I have a 360 spider Ferrari with a salvage title . Don't really care. Love driving it.
Moral to story: if you want an investment , buy stocks. If you want a fun underpriced sports car buy a salvage title car. There fun for 1/2 the money !!!

[Unobtanium-inc]

Originally Posted by brianvb

I bought a 65c cab 356 that spent a week in the ocean. Not sure if it's "salvage" title. Don't really care. Just wanna fix it and drive it.
I have a 360 spider Ferrari with a salvage title . Don't really care. Love driving it.
Moral to story: if you want an investment , buy stocks. If you want a fun underpriced sports car buy a salvage title car. There fun for 1/2 the money !!!

Is this the same 356 cab you were thinking of selling earlier this year?

[techweenie]

Oh yes, a clean title is vital.

http://forums.pelicanparts.com/porsche-cars-sale/940295-1991-c2-cabrio-fixable.html

[antares]

… point we'll taken, and since you got it at a deep discount, drive it like you stole it (you ginda did) and enjoy it like brian says … however with that said, just remember you guys are not gonna most likely be able to get your money back on the deal unless you part it out. That is at least the good chunky shiny bits which can be sold easily, then sell an either pretty component rich body/chassis or a stripped bucket. No doubt like a lot of the folks on this forum, these cars are just a toy and no big loss since you'll make it up on the next annuity check, partnership sale or stock option great … but for the rest of us it's kinda hard to write off the loss as easily. So just saying sticking with the OP's original question we would say this in reply: Don't buy salvage title vehicle unless you are willing and able to be able to realize and afford the lost at time of sale, which means keep an eye on the Bucks you throw
into the vehicle. Take what you get, get it running and have fun with it but unless you can float the surcharges and endure the eventual deep discounts, keep it simple and have fun ….

[SalParadise]

Originally Posted by brianvb

I bought a 65c cab 356 that spent a week in the ocean. Not sure if it's "salvage" title. Don't really care. Just wanna fix it and drive it.
I have a 360 spider Ferrari with a salvage title . Don't really care. Love driving it.
Moral to story: if you want an investment , buy stocks. If you want a fun underpriced sports car buy a salvage title car. There fun for 1/2 the money !!!

I agree with this completely. Buying a Ferrari with a salvage is a fantastic bargain if you get a good car. For some reason people don't want a prancing horse with a sprained leg. A 360 Modena is a very sweet car, and probably the Ferrari I would buy if I had the dough.

[NYNick]

If you buy salvage, drive it to death.
It's already dead value-wise, so you might as well kill it.

[Matt Monson]

Originally Posted by NYNick

If you buy salvage, drive it to death.
It's already dead value-wise, so you might as well kill it.

Exactly my attitude about my car. I bought it because it's what I wanted. Saved some money on the S title and got to do some stuff that started to make it mine. It's an expensive toy, but it isn't an expensive car, if that makes sense. Going to keep personalizing, restoring, and improving it as time allows. Otherwise shut up and drive.