Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I bought it for $4,650 (+$350 in fees, sales tax, etc.), so that's about 67%
(2/3) of the value. I do feel kind of ripped off, but I needed the car very badly, no similar deals were to be found in my area, and it seems to run fine. I do plan on driving it into the ground, or giving it to my mother if I develop intractable epilepsy (a very real possibility given my "condition") years down the road.
My "mechanic" buddies checked the fluids, and found nothing faulty with them.
Well then don't give the $$$ another thought. It's done, and there's no point in concerning yourself with something you can't change.
If you have a couple hundred $$$$ and want to really freshen the interior, replace the carpet and pad. It has 9 years and 118K miles of crud ground into it, and no amount of shampooing will get that all out. If you can work a socket set and screwdrivers, you can replace the carpet in an afternoon. You'd be surprised at how much better the interior will look and smell.
For a salvage title car you may have overpaid significantly. In perfect condition, assuming it's the top of the line and loaded, super high retail is about $6800. Generally speaking, a salvage titled car should sell for half to 2/3 of what the same car with a clear title would sell for. There are exceptions and a range of prices, though.
That being said, if you really like the car, it's in excellent condition and doesn't cost you anything but gas and oil changes for a few years, you did OK. The salvage title will come into play mostly when you sell the car, so I'd be prepared to drive it until it dies so as not to take a big loss.
If the rust on the brakes is just surface rust from sitting for a while, it should scrub off after a few brake cycles. It'll be a bit noisy. I'd also consider replacing all the fluids, since you have no idea what's in there or how long its been in the the engine and tranny.
Actually, it had a "previous salvage title", but now has a "rebuilt" title or whatever the post-salvage title is in Minnesota. I look at it as a reconditioned / refurbished little piece of luxury. Also, I don't think you have to disclose that it had a salvage title if the sale price is under $4,000.
It looks like you found a good Park Avenue. I think your price was pretty fair for a dealer purchase, given the title history -- since it was $5k delivered. When cars get below $5k, it can be difficult to find something that's reliable and in good condition. Average miles are good, I think, because too low can have problems, either from sitting or from short distance use in stop-and-go traffic.
__________________
All the world's a stage, and all the men and women merely players: they have their exits and their entrances; and one man in his time plays many parts, his acts being seven ages.
~William Shakespeare (As You Like It Act II, Scene VII)
I'd say you got a good deal. Maybe you didn't steal it, but you did pretty well. It looks like a clean unit, particularly in an area where clean units are hard to find because of the extreme climate and use of salt and sand. The brakes are probably rusty from sitting at the body shop/dealer waiting for the body repair and they might improve or maybe not. Either way parts for the old Parks aren't expensive. The cars are really durable too. Good choice, and good color (there were some less than good colors available on that model).
On a 9 y/o reconstructed title car (i.e. ex-salvage), there is no standard loss-of-value for the branded title. On a late model car, a reconstructed title can lower the value by 30-40% depending on the repair job, especially if the car was under factory warranty (unavailable with total loss scenarios). A recently totaled, miles-over car that is 10 years old won't be reduced in value as much. (Because a lot of 10 year old cars are shrapnel, a clean ex-salvage unit in a sea of crap is still a nice unit no matter what).
The advantage to older, recently reconstructed cars is that there isn't any guesswork about why the previous owner got rid of the car. It is not unusual to inspect insurance auction cars to find some very nice, well maintained units (considering the damage that brought the vehicle to the auction in the first place).
I bought it for $4,650 (+$350 in fees, sales tax, etc.), so that's about 67%
(2/3) of the value. I do feel kind of ripped off, but I needed the car very badly, no similar deals were to be found in my area, and it seems to run fine. I do plan on driving it into the ground, or giving it to my mother if I develop intractable epilepsy (a very real possibility given my "condition") years down the road.
My "mechanic" buddies checked the fluids, and found nothing faulty with them.
Forget about the two-thirds rule of thumb. Some of these salvaged cars are repaired to a point you will never now they are salvages. This is why the prices are not as low as one would anticipate. It's a nice car, now try shampooing the carpet along the passenger footwell. Other than that the car looks great.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I think your price was pretty fair for a dealer purchase, given the title history -- since it was $5k delivered. When cars get below $5k, it can be difficult to find something that's reliable and in good condition. Average miles are good, I think, because too low can have problems, either from sitting or from short distance use in stop-and-go traffic.
