Buying a Salvage Title vehicle: Would You?

[NickfromWI]

So we're looking for a new truck. Found this one

http://m.cars.com/vehicledetail/#vdp?listingId=657445794



It's the model we want the way we want it, pretty low miles, only couple years old.... But the carfax shows this:



So...it has a history.

It blue books around $26,000. Carfax says to subtract $3,600 from that.

Dealer is asking $18,000. Assuming the airbags have been replaced (I'd have that scoped out before buying) it still seems like a decent deal.

Are there other reasons I should avoid it?




love
nick

 

[SouthSoundTree-]

You can't insure it with Collision/ Comprehensive coverage, I believe.

 

[sotc]

Yeah, if check with your insurance man for his thoughts. I'd be a little concerned about employees using it but wouldn't have an issue driving it myself. Harder to sell later as well.

 

[lumberjack]

Personally I wouldn't.

My advice would be the same as above, talk to your insurance agent and see what your options are and how that applies to your mindset.

 

[squisher]

Yah Nick, knowing you a bit over the years on The House here I wouldn't recommend buying a salvage title. I would myself, but I'm basically an unlicensed mechanic with a fully equipped shop. If it has issues it could get real expensive, real fast paying someone else to sort it.

 

[BIGTWIG]

I would pass for the reasons mentioned, and because I think it would have poor resale value.

 

[Altissimus]

I have SOLD rigs w salvage title (laughing smiley face) ...true through

 

[Reddog]

Yah Nick, knowing you a bit over the years on The House here I wouldn't recommend buying a salvage title. I would myself, but I'm basically an unlicensed mechanic with a fully equipped shop. If it has issues it could get real expensive, real fast paying someone else to sort it.

+1

 

[NickfromWI]

You guys are awesome. I was hoping you'd all say the exact opposite. I might be hard headed about managing trees vs cutting them down, but I'm happy to heed the advice and walk from this one.


love
nick

 

[squisher]

Keep looking man. Deals are out there. If you've got the cash/financing on hand, figure out what exactly you want and then wait and watch.

I bought my latest truck for such a steal of a deal I'd be almost embarrassed to say. Right place, right time with a cert'd bank draft in hand.

Private sales are where the bargains are to be had. Dealers make money one way only, by selling vehicles. Often private sellers are losing money.

 

[MrMoon5shine]

i am not 100% sure what does it take to get that label? i know of cars that when the airbag goes off it smashes out the windshield so say they hit a curb or post with air bag replacement plus, let just say bumper, grill, rad, lights and maybe a paint job might be enough to have a insurance company right it off but rest of the truck would be fine... but again not sure if that's enough damage to call it salvaged, i would ask a few more questions before saying no. the resale point is still a good one though.

 

[squisher]

Rebuilt/salvage means it was written off. So whatever the damage was it was enough that the insurer paid out book or replacement rather than fixing it and then it was auctioned off to someone who rebuilt it and had it pass inspection.

Unless you're mechanically inclined and getting the deal of a lifetime I would pass on a rebuilt/salvage title.

 

[MrMoon5shine]

so its book value was 25000 how much damage is that? not trying to start an argument just saying if it was me I would ask for more info than what the carfax is giving you.

nick can you expand the report and see what was fixed and when?

 

[MasterBlaster]

Listen to Justin.

 

[squisher]

so its book value was 25000 how much damage is that? not trying to start an argument just saying if it was me I would ask for more info than what the carfax is giving you.

nick can you expand the report and see what was fixed and when?

I don't really get your question or how it would be an argument? If the book value is 25g and the insurer thought to pay out instead of fix, I would guess the damage was substantial. The next part of the equation is who bought it? Who fixed it? And who inspected it? And how did it come to be on this dealers lot?

Unless you're mechanically inclined, I would pass on a rebuild. I've had one and it was a fantastic vehicle that gave me no issues.

 

[FireFighterZero]

I did not see if it was a Ford Warranty or not.

Maybe one of those aftermarket warranties? Would Ford honor a factory warranty on a salvage title?

It would not take very much these days to rack up a high repair cost. Air bags are a real killer and often call for immediate salvage title. But if it really was front end damage they might have spent a lot of time replacing crumple zones and frame components. I dont believe that the damage has to reach the total value of the outfit for it to be written off, or at least they can adjust the value to achieve the goal desired.

If it were an older pickup I would not bat an eye, not much to go wrong with those, but a nearly new one could drive you to tears with small issues and who says the inspector is worth a shit or honest?

You guys remember all the outfits that came out of the Gulf Coast after the hurricane/flooding? Some people got soaked on those, pun intended!

Anymore I think there is just too many unanswered questions surrounding what you can or cant do with a salvage title. I would not give the bastards any more reason to screw me than absolutely necessary.

Would I have a salvage outfit for a farm pickup? Sure. Would I send my kids to college in one? Nope.

 

[sotc]

I believe for a salvage title in California to be allowed back on the road the highway patrol has to inspect and sign off on it. Not that that will guaranty anything other than the lights work..

 

[squisher]

Yah. I understand that the damage doesn't have to equal the payout or possibly it had replacement insurance on it like we can get up here on newer vehicles for if they're involved in a fairly minor accident. And barring that I don't see that truck as a screaming deal. Still knowing Nick a bit I would just think that a salvage title is a bad idea all around. Nick you're a fantastic arborist, treeman, and A+++ splicer(I've literally put my life in your hands). You are no wrench and I think the increased likelihood of having any sort of issue related to a rebuild will outweigh any savings realized.

 

[squisher]

so its book value was 25000 how much damage is that? not trying to start an argument just saying if it was me I would ask for more info than what the carfax is giving you.

nick can you expand the report and see what was fixed and when?

And Mr Shine, never worry around here about being argumentative or taken the wrong way, it's the interwebs after all. The biggest thing is to just participate.

 

[lumberjack]

The amount to total a vehicle depends on the insurance company... usually if the damage is 60-75% of the value of the vehicle, they will total it. There are other factors that can influence that, but that's a good place to start.

 

[Burnham]

Another aspect of the salvage title question is...what damage is involved? To my point...a close friend had the unfortunate happen, caught a soft shoulder with his right front tire when he wasn't paying attention, dragged his Subaru off the fill and rolled it downhill on it's roof and up beside an alder 10 feet or so below the road. The car was nearly 10 years old, and had 100k miles on the clock.

The damage was all body work, dents and ripples, and a broken moon roof. But the accident happened at under 35 mph, the frame was not tweaked, the mechanicals were likewise undamaged. No airbag deployment.

Totaled, all on the price of repairing what was basically cosmetic damage. We all know what bodywork in a good shop costs these days, right?

He bought it back from his insurer for a few pennies and took their payout on the value of the car, put about 30% of the insurer's repair estimate into it to get the worst of the damage fixed, did some finish work himself, and continues to drive the Subaru today. Yes, it has a salvage title, but he doesn't really care about resale because he drives his rigs, as I do, to the 200k mile mark, on average .

Point is, bodywork costs a lot of money, and a salvage title resulting from primarily that can still be a good deal.

The resale situation after you're done with it is really worth considering, I'll agree there for sure.

 

[MasterBlaster]

It's all a crap's shot, IMO.

 

[Burnham]

I disagree. Not if you know something about what the damage was to cause the totaled call by the insurer, not if you know what you are looking at and do a solid inspection yourself, and not if you have the skills, tools, and shop to deal with finishing up any issues, as Justin has said.

And most especially, not if resale after you are done with it doesn't need to be part of the equation.

Frankly, I think Justin has a real clear read on Nick's situation, and I agree totally with his advice. J or I might be able to go a different path sucessfully, but I think for Nick, it's not the right choice.

 

[Cobleskill]

I agree. Having such a vehicle inspected by a competent honest mechanic would go a long way. If you know such an animal. Rare, they seem to be.

 

[MrMoon5shine]

And Mr Shine, never worry around here about being argumentative or taken the wrong way, it's the interwebs after all. The biggest thing is to just participate.

thanks new here dont want to step on any toes.