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Interesting situation....we all know about Hurricane Matthew and the devastation it left behind. Hundreds of thousands of flood damaged cars which I would never touch.
Were you aware that Honda required all their dealers in Houston to salvage their inventory even if the car was only sitting in 1 inch of water??
So, I have an opportunity to buy a brand new 2017 Honda civic ex with 3 miles on it and absolutely no damage to it--new window sticker and all. It's a new car! Smells new, looks new and is new. New car window sticker is $22000 and is still on the car. And I'm getting the car for $13000. Crazy discount!
Just looking for everyone's thoughts. I hate the idea of owning a "rebuilt title car" but this thing is mint and 40% off the sticker.
Drive it REEEEEL carefully - Insurance will pay -0- if you (or someone else ) wrecks it!!!
(NO comprehensive coverage on salvage titled vehicles) . . . .
I'm not sure why some people find it hard to believe the car was priced at $13K even if it wasn't flooded. The number of people who wouldn't buy it just because of the salvage title and no warranty is the reason why
I think OP got a great deal as long as the car was inspected (seems like OP did) and the car will be driven for 10+ years, taking resale out of the equation.
I'm not sure why some people find it hard to believe the car was priced at $13K even if it wasn't flooded. The number of people who wouldn't buy it just because of the salvage title and no warranty is the reason why
I think OP got a great deal as long as the car was inspected (seems like OP did) and the car will be driven for 10+ years, taking resale out of the equation.
The price is not what is unbelievable. The fact that the car has been declared salvage afetr being in just 1 inch of water is.
No insurance company is going to pay out to the dealer manufacturer bank for any car that was only in one inch of water. Complete fallacy.
What are you basing your opinion on? Did you work as an adjustor last September in Houston? Did you work for any car dealer in Houston within the past 6 months? Have you inspected the Honda in question?
Im glad your such an expert based on nothing.
Nice play OP! I agree, it's a Honda. Meaning, you could throw a grenade under the hood and still get 40mpg's from LA to DC in the thing. Chances are throughout the life of the car, water will hit areas that haven't been hit yet anyway. I've lived along the east coast before for many many years, had 4x4's that we'd take out on to the beach and camp out over night in the salt air. Bogged them down into the sand to the point of hitting the salt water table underneath. Not talking specialized 4x4's either, but your basic 4Runner, Blazer, Explorer, etc. Just a rinse with fresh water underneath and outside, and all good. Had them for many years and many many miles.
As a precaution on you car, I would spend the extra $500 and have the dealership flush the fluids just to make sure no water contamination got into them via drain holes or whatnot. Transmission being the big one, coolant and brake fluid. I'd do this when you hit 5,000 miles to change the initial oil. Then happy motoring!
Who cares about value depreciation on a salvage title. Cars are depreciating assets by nature anyway. At your cost basis, and assuming the car doesn't evolve into a problem child, you'll be able to sell it later on without worry, and for likely far less than a comparable car in the market at that time.
My 2nd car I owned was a 1992 Nissan Sentra SE-R, bought new for $7,000.....after a golf-ball sized hail storm rolled right down dealership lane in Overland Park, KS. They had to cut the roof off, new hood, trunk, glass, and repair the top of the side quarter panels. Took them 4 weeks. Car was PERFECT for the next 5 years and 80,000 hard teenage miles. Traded it in for a used GMC Jimmy 4door that lived a previous life in Kill Devil Hills, NC (outer banks) and lived several more years roaming up and down the beaches from there.
I am sure it was written off as a loss for insurance to cover as well from the storm. I'm sure Honda has an umbrella policy for situations like this to support their impacted dealerships for acts of "force mejure". A hurricane, is the very definition of "force mejure".
OP, I'm sure you got a great deal, but maybe a wee observation...
You do know that EVERY used car lot has cans of 'new car smell' deodorizer that they use to make ANYTHING smell like new car, don't you? You could make the towel hamper at a homeless shelter smell like a new car with that stuff.
I am sure it was written off as a loss for insurance to cover as well from the storm. I'm sure Honda has an umbrella policy for situations like this to support their impacted dealerships for acts of "force mejure". A hurricane, is the very definition of "force mejure".
Honda doesn’t provide insurance for dealer inventory. Dealers have their own insurance. Once that vehicle leaves the plant and is handed off to the transporter it is no longer responsibility of Honda. Dealer owns the car at that point....transporter has insurance to cover the car until it hits the dealer’s lot.
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