Salvaged 996 GT3 c-list

[teamgomez]

https://sandiego.craigslist.org/csd/cto/d/2004-porsche-911-gt3/6392476704.html

Salvage title w/ 33k miles for $55k. I went out to see this today and the photos must have been taken when current owner took custody 3 years ago and it must have sat outdoors ever since. Presently needs hood refinished due to oxidation of clear, headlight lens R&R'd, curb rash repaired, front bumper painted, new lip, etc. Salvage reason sketchy (hit something front left and in the spin, the motor grenaded thus the salvage...since no accident report I'd guess it happened on a track). Motor repair completed by indy shop in Santee (RSR Motorsports).

Waved off quickly but what's your thoughts on salvage title ding off market value? Then add the poor condition?

[Unobtanium-inc]

Does it have a current salvage title or a clear title with salvage history, there is a big difference. If it has a current salvage title and has already been fixed, which it looks like in the pics, then you might run into problems trying to get a clear title. Most states want to see pics of the car before it was fixed and they want receipts for all the parts used, to make sure you didn't use stolen parts. If you can't show the before pics and don't have receipts, you might not want to buy it.
But if it has a clear title with salvage history, also known as a re-built title or a branded title, then you're ok, but it will effect the value of the car. Normally deduct 25-30% for title salvage history.

---Adam

[teamgomez]

I don't believe that distinction exists in CA but I could be wrong. My understanding is that once it gets branded 'salvaged', then the new title states this fact...forever.

What is more curious as I peel back the onion on this GT-3 is the vehicle report that has 'decremental' mileage reports. Just how in the heck does that happen? Did somebody just hop out of the "Hot Tub Time Machine" and document mileage?

Check it out here https://www.quickautoreport.com/report/vin/WP0AC29934S692189

[Tonger]

I agree with Adam, even if it was in good condition it sounds like that car is rather overpriced. These routinely change hands in the 60s in good condition without the salvage title baggage.

If you're patient, one will pop up. Check the Rennlist classifieds and the dedicated forum.


Sent from my iPhone using Tapatalk

[Unobtanium-inc]

Originally Posted by teamgomez

I don't believe that distinction exists in CA but I could be wrong. My understanding is that once it gets branded 'salvaged', then the new title states this fact...forever.

What is more curious as I peel back the onion on this GT-3 is the vehicle report that has 'decremental' mileage reports. Just how in the heck does that happen? Did somebody just hop out of the "Hot Tub Time Machine" and document mileage?

Check it out here https://www.quickautoreport.com/report/vin/WP0AC29934S692189

I'm betting it has a salvage title, not for current road use, based on the lack of plates.

Dealers will have cars like this sometimes, they fix them and drive them on dealer plates, but that only works if you have the magic plates.

---Adam

[Matt Monson]

Originally Posted by Tonger

I agree with Adam, even if it was in good condition it sounds like that car is rather overpriced. These routinely change hands in the 60s in good condition without the salvage title baggage.

This. It's $15-20k over market. He appears to have added up the value of the parts if he pulls the big things and sells them. And then prices it at that price, pretending there's not 100 hours of labor in stripping the thing. It's really bad math some of these guys do in "valuing" a car.

[Matt Monson]

Originally Posted by Unobtanium-inc

I'm betting it has a salvage title, not for current road use, based on the lack of plates.

Dealers will have cars like this sometimes, they fix them and drive them on dealer plates, but that only works if you have the magic plates.

---Adam

There's a race shop in North Hollwood that builds POC racecars out of them. But not at that price. They used to get all their cars wholesale from Todd at LAPD.

[teamgomez]

Originally Posted by Tonger

I agree with Adam, even if it was in good condition it sounds like that car is rather overpriced. These routinely change hands in the 60s in good condition without the salvage title baggage.

If you're patient, one will pop up. Check the Rennlist classifieds and the dedicated forum.


Sent from my iPhone using Tapatalk

It seems that left is right, up is down and pit bulls are dancing with kittens in today's 911 market. Std Dev of prices is over the top (read: an 85 Carrera could sell for $37k or 67k...the '88 on BaT that we thought was gonna take in $35-$37 MAX sucked $40k outta somebody [that's now $43.5k when adding BaT Tax on it + shipping]). Gone are the days when you REALLY needed a good excuse to pay over KBB.

I'm all over the i-net and have even hacked into the smoke signals coming off the reservation casinos. But WTH happened with Rennlist? That has evolved into the most user UNfriendly search engine ever!

But I'll find one. It's out there....just waiting to move some of the Mrs' artwork hanging on the other side of the Mancave wall...

[teamgomez]

Originally Posted by Matt Monson

There's a race shop in North Hollwood that builds POC racecars out of them. But not at that price. They used to get all their cars wholesale from Todd at LAPD.

I know most of the legacy shops turning tubs into POC track rats (I took over/evolved the POC Racer's Clinic in early/mid 2000's...Magnus was one of my students and 'not like the others' LOL). Which shop are you referring to?

[Tarek307]

Unless you have a police report or pics of the accident just walk away unless the deal is just out of this world!

[Matt Monson]

Originally Posted by teamgomez

I know most of the legacy shops turning tubs into POC track rats (I took over/evolved the POC Racer's Clinic in early/mid 2000's...Magnus was one of my students and 'not like the others' LOL). Which shop are you referring to?

Dan’s.

[nathanbs]

Originally Posted by Unobtanium-inc

Does it have a current salvage title or a clear title with salvage history, there is a big difference. If it has a current salvage title and has already been fixed, which it looks like in the pics, then you might run into problems trying to get a clear title. Most states want to see pics of the car before it was fixed and they want receipts for all the parts used, to make sure you didn't use stolen parts. If you can't show the before pics and don't have receipts, you might not want to buy it.
But if it has a clear title with salvage history, also known as a re-built title or a branded title, then you're ok, but it will effect the value of the car. Normally deduct 25-30% for title salvage history.

---Adam

Originally Posted by teamgomez

I don't believe that distinction exists in CA but I could be wrong. My understanding is that once it gets branded 'salvaged', then the new title states this fact...forever.

What is more curious as I peel back the onion on this GT-3 is the vehicle report that has 'decremental' mileage reports. Just how in the heck does that happen? Did somebody just hop out of the "Hot Tub Time Machine" and document mileage?

Check it out here https://www.quickautoreport.com/report/vin/WP0AC29934S692189

Originally Posted by Unobtanium-inc

I'm betting it has a salvage title, not for current road use, based on the lack of plates.

Dealers will have cars like this sometimes, they fix them and drive them on dealer plates, but that only works if you have the magic plates.

---Adam

Yeah as teamgomez says we don’t have that distinction in CA. However salvage title cars can be registered for public road use as long as it passes a brake and lamp inspection. There is no way to clear a salvage title in CA that I’m aware of

[Matt Monson]

A much better car for less.
http://forums.pelicanparts.com/porsche-cars-sale/978217-996tt-track-car.html

[Catorce]

A car with a salvage title in and of itself doesn't scare me away. BTDT.

That car, however, is overpriced, and I tend to run from overpriced.

[Mehoff]

Originally Posted by Matt Monson

Dan’s.

Yep. Dan and I have been looking for a 6GT3 at auction for about a year. They come up very rarely, but when they do they sell for around $34-37k (assuming all mechanicals are good). That is in "as-wrecked" condition.

I need the drivetrain and wiring for another car; he wants the chassis.

This one is overpriced for the pic in the ad, and seriously overpriced based on OP's description of it now.

[Rawknees'Turbo]

Originally Posted by Matt Monson

A much better car for less.
http://forums.pelicanparts.com/porsche-cars-sale/978217-996tt-track-car.html

Wonder why the owner put that wack, el-cheapo' diff in there?!?!

[gearby]

Originally Posted by nathanbs

Yeah as teamgomez says we don’t have that distinction in CA. However salvage title cars can be registered for public road use as long as it passes a brake and lamp inspection. There is no way to clear a salvage title in CA that I’m aware of

California has to have something to that effect. Washington and Oregon and Florida have them. Those are the only States I've dealt with but I'm pretty sure the process is pretty much the same. When a car is totaled a salvage certificate is issued for the car, what Adam is calling a salvage title. Once the car is deemed repaired and worthy for the road it will be issued a title with a salvage or totaled notation on the title. What he's calling a clear title which technically is what most people call a salvage title or a branded title.
So what does California give you when you buy a totaled car at an insurance auction? It certainly can't give you a title otherwise you could just go down and license the car and drive off into the sunset. There has to be some kind of documentation that forces you to go through an inspection before the car can be issued a title for Road use.
In Oregon the inspection is very easy. A person just drives down to the DMV, the worker comes out and looks at the car and issues a title on the spot. Washington is much worse. You have to set up an appointment with the state patrol which usually takes several months. They then need receipts of all parts used to repair the car and if you don't have the right paperwork they have the authority to not issue a title for up to 2 years. What happens after that I don't know.

[rsnodgrass]

I was the original owner of GT3 WP0AC29934S692189, owning it for five years. This was one of the very first GT3s into the US. When the first magazine issue hit that described the upcoming GT3, I put in an order as Porsche had capped the number they were going to build to a little over300 units...later they raised the cap significantly after sales were brisk. I picked it up from a dealer in Ohio and drove it back to Seattle over a week period (as I called it "American Delivery"). I stopped for its first oil change in Omaha at 1,200 miles only 3 or so days after delivery. I daily drove it in Seattle for five years, and I think it has around 33k miles when I sold it.

Someone bought this GT3 from me in July 2008, and a month or so later took it to Pacific Raceways outside Seattle, WA for a track day and heavily damaged the car after turn 1. If I recall correctly, the car rolled. Amazingly, after quite a bit of back-and-forth, they were able to get their insurance company to pay for the damage as their policy did not exclude track days. I believe the car reappeared rebuilt in California 3 years later with a salvage title.