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The quality of the repair work should be the factor used to determine the value of the salvage titled vehicle. If the repairs were done correctly and the price has been adjusted low enough you might do OK IF you keep it and drive it until it is truly ready for the recyclers. Resale value will be reduced by having a salvage title however in the long run that salvage vehicle may be a better buy than a new vehicle. Do your homework.
The quality of the repair work should be the factor used to determine the value of the salvage titled vehicle. If the repairs were done correctly and the price has been adjusted low enough you might do OK IF you keep it and drive it until it is truly ready for the recyclers. Resale value will be reduced by having a salvage title however in the long run that salvage vehicle may be a better buy than a new vehicle. Do your homework.
Who did the salvaging and repairs make all the difference.
I'm looking at getting a used car to last me a few years until I get all my ducks in a row so to speak. i found a nice 2007 acura for under 8k, problem is, it has a salvaged title. That also makes me wonder what the real value of the car is. it has pretty low miles for the car (104k) and I'm not sure. figured id ask some of you for advice.
Offer a low price. I don't know what the minimum price is for that sort of vehicle, but I would go slightly lower than that. Then, if he counter offers, think about it for about 2 days and then raise your price a little, but not much.
The answer is, "yes". I would buy a salvaged car.
10 year old car; 104K miles? That's 10K a year. That's low.
I'm looking at getting a used car to last me a few years until I get all my ducks in a row so to speak. i found a nice 2007 acura for under 8k, problem is, it has a salvaged title. That also makes me wonder what the real value of the car is. it has pretty low miles for the car (104k) and I'm not sure. figured id ask some of you for advice.
You need to have some solid evidence, not just a statement, of what kind of damage caused the car to be a total. In some cases the car was stolen, the owner filed a claim, and of course a missing car is a "total loss" - but the car could have been subsequently recovered, possibly with no damage at all. This is the best scenario for a buyer.
Probably the worst scenario is that it was in a flood. Electrical gremlins will dog your days until you ditch one of these.
If I can't find out why it has a salvage title, I would only buy very cheap, to make it worth the risk that I end up selling out for $100/ton.
I was a mechanic for 16 years in a previous life and I keep vehicles for a LONG time. So salvage title vehicles make sense for me. But if you aren't confident in your own inspection, can't do your own repairs, and care about resale value... a salvage title makes less sense. Though I have seen non mechanically inclined people buy such vehicles with good results.
I got a salvage-titled Accord for my wife six years ago. The seller had pictures of the accident, so it was easy to know what to inspect for. Blue-book at the time was $12,000... I talked him down to $7000 cash. I had to fix a couple of things that were poorly repaired... but all minor stuff. We've had the car for six years now... and have no real complaints. It was cheap and it does the job well. Like me
The car isn't as cute now as it used to be. Paint is fading, there's more road noise than there used to be. Pushing 170k miles. The wife has been making noise about replacing it. There's a fair chance that I'll buy a replacement with a salvage title if I find the right deal- and then just drive this old Accord myself.
I mean my current car has 276,000 miles on it. I've got my money's worth
I'm looking at getting a used car to last me a few years until I get all my ducks in a row so to speak. i found a nice 2007 acura for under 8k, problem is, it has a salvaged title. That also makes me wonder what the real value of the car is. it has pretty low miles for the car (104k) and I'm not sure. figured id ask some of you for advice.
Honestly, an '07 Acura with 104,000 miles on it AND a salvage title for under $8k is not that great of a deal. The car is essentially 10 years old, and at this point, should be worth no more than 15% of MSRP, and that's with a clean title.
Salvage titles are probably best avoided, unless you were stealing it (say for under $5k). Even then, I wouldn't touch it without a PPI at an Acura dealership. It's the best investment you'll make on a car like that.
Sure it may work out but it could also be a disaster. If this is a temporary car why in the world would you consider such a risk? For that money buy a used Camry or whatever, even at 150,000 miles that would be a much more reliable choice.
I'm looking at getting a used car to last me a few years until I get all my ducks in a row so to speak. i found a nice 2007 acura for under 8k, problem is, it has a salvaged title. That also makes me wonder what the real value of the car is. it has pretty low miles for the car (104k) and I'm not sure. figured id ask some of you for advice.
I just bought a 2006 Buick Lacrosse, 114K, one owner, no accidents. $4K.... Doesn't sound like such a good deal now does it? If you are buying R-title car it better be a good deal.
I purchased a vehicle with R title in the past but the guy had the pictures before they fixed it. This is actual picture, there was some minor damage on back corner too. Apparently hit a deer and it spun around and hit the back. It's all cosmetic damage to the body and structure otherwise I would have walked away.
The problem here is the battery is right there and it shorted out the electrical sytem, they had to replace the dash. That car was only 5 years old with 28K, all the buttons worked so I gambled but it was only $2800 and that was the price after it was fixed. Ran it for about 5 years and sold it for $1200, LOL
I personally have bought rebuilders. I bought them at auction, in their wrecked condition, and fixed them myself. I never bought a car that was severely damaged, usually cars that were 5 or 6 yrs. old with light damage. With all the electronics these days I kind of shy away from any hard nose hit cars, and never buy a flood car. I really don't want to trust a replacement airbag myself. I wouldn't buy any rebuilt car that I personally didn't see before the repair, and I would have to know the guy that rebuilt it. I've seen way too many hack jobs in my life to trust someone's word that they know what they are doing. You go to the salvage auctions very many times, and you will see enough to make you think twice about the "rebuilder guys" fixing these cars. I've had to help people strap down there new purchase to a trailer, because they couldn't figure out how to tie it down, but they were going to fix the smashed car they just bought. lol
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