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03-25-2014, 12:08 PM | #1 |
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Looking to buy an E46 323i with salvage title - any advice?
Hi guys! I'm going to buy a salvage 323i. If anyone here dealt with buying salvage title cars (or simply knows some information) I have some questions - what kind of damage did the car have and did you have any issues with it after you repaired it? Also, was it very difficult to resell the car afterwards?
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03-25-2014, 12:18 PM | #2 |
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Honestly, with my experience with salvage cars, no matter how good the repair shop is, the car will never be the same. Be careful
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03-29-2014, 09:30 AM | #4 |
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I've not done one myself, but I had a friend recently look into the issue. He had a very nice 1990 Honda minivan (wife's car), with 160K on it, but he was meticulous with it and other than mileage, it looked brand new. As an example of how good shape the van was in, last year the trans developed a leak between the cases; he pulled the trans, went through the whole thing himself as a DIY, replaced all the seals, O-rings, and gaskets. Well, few months ago his wife t-boned some 16-year old who decided to ignore traffic. The van was repairable body-wise, but the air bags had gone off. Based on the age and mileage the insurance company totaled it.
He was going to salvage it and have the body work fixed by a shop. But the airbag replacement was costly part of the repair, so he was going to do himself. The problem was, he found out that in our fine state of Virginia, that any repairs to a salvage-title vehicle have to be performed by a certified repair shop, so no DIY to save money on the repairs and make it worthwhile to him to fix the van. You should check into that if you are planning to do the repairs yourself. |
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04-05-2014, 12:30 AM | #5 |
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I don't personally have experience salvaged cars, but still would tread with caution. I personally think salvaged cars would be a great buy if you personally are able to work on the car or identify significant problems, but definitely should avoid cars that have possible frame damage.
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04-06-2014, 12:53 AM | #6 |
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salvage cars are rarely repaired with safety in mind. Most salvage cars are repaired to look fine, however small things such as getting a perfect wheel alignment or body panel gaps to line up is nearly impossible.
If you do buy a salvage car, plan to drive it into the ground... Or expect to get $3-5k 6+ years from now. |
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04-06-2014, 08:31 AM | #7 |
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first 2 cars were salvage, a 350z and a rsx. no problems at all, Sold them the same price i bought them as well. just make sure they're not front end engine damage and it should be solid.
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06-14-2017, 08:22 AM | #9 |
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Depends how it was damaged. All I owned was salvage. Owned at least 15 salvage cars and all I can say is depends who fixes them and how bad it was the damage. I only get light damage cars and always show the damage to customers.
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06-14-2017, 09:51 AM | #10 |
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I would steer clear of any salvage cars, unless you're repairing it yourself. It's almost like buy a "restored antique classic car", yeah you might save yourself some money, but you won't know how the vehicle was repaired/restored until you have to service it. I would steer clear.
Good luck on your search |
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06-14-2017, 10:21 AM | #11 |
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Like others have said, it depends on the damage and how bad was it. I have brought 5 salvage title cars at auction in the past 3 years. I have a good friend of mines rebuilt them for me.
Also saved a lot of money. My latest examples were a CLK500 convertible with 48k, a double cab F-150 with 42k, and a Camry LE with 55k. The CLK had a tree branch fall on the deck lid, quarter panel, and rear window. All in all the total for that one came to $5k. At the time KBB had a clean title at $17k and for sale ads were around the same price. The F-150 was rear ended and just needed a new bed and rear bumper. This one was $10k when it was all said and done. KBB had a clean title at $19k and for sale ads were around the $20k mark. The Camry was hit on the front passenger side. It needed a new hood, front bumper, fender, headlight, and random suspension parts. The total came out to be $6.5k. KBB had a clean title at $10k and for sale ads were around $11k-$12k. Another pro about salvage cars is that here in Texas we don't have to pay taxes for a rebuilt title car. We only pay a $65 dollar rebuilt fee along with the cost of tags. Last edited by supra93; 06-14-2017 at 10:32 AM.. |
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06-14-2017, 10:35 AM | #12 |
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It might be worth it if you can get a clean running car for under $1000, maybe $200-$400. It would make a nice project car but maybe not a daily driver unless you know it's well sorted.
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06-14-2017, 11:35 AM | #13 |
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It's a good business for sure....for myself I buy clean title cars. Used to have a dealership and we bought a few salvage cars. F250 for $1000 bucks, sold for $10k later and one near brand new Nissan Sentra with flood damage, but in reality car has zero issues....I am guessing only floor was flooded and car was written off.
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06-14-2017, 01:34 PM | #14 | |
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Quote:
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06-14-2017, 02:16 PM | #15 |
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My M3 and X5M are both salvage cars. I repaired them myself and would trust them in their current state more than a similar mileage car with a clean title, just because I know the car's condition now with their extensive list of new parts.
There's nothing inherently wrong with salvaged cars. It's just how they are rebuilt- there are more shops cutting corners and doing amateur work than there are quality rebuilders doing better work at the cost of a slimmer profit margin. I am a state licensed dismantler, and yes- these days I see just as many public buyers buying through brokers as I do legitimate businesses buying inventory. It definitely drives the prices up. |
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06-14-2017, 05:06 PM | #17 |
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Being a pro and repairing yourself or having a buddy in business is one thing, but buying salvage blind from some dealer just to save money is just wrong. Better off just buying a cheaper car with clean title
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06-15-2017, 07:26 AM | #18 |
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If you plan to only keep it for a couple of years I think the savings on the salvage title car looks better than it is because of the low resale. Example - buy non salvage for $20k and sell it down the road for $15k, or buy the $13k salvage ($7k less than the non salvage) and sell it for $9k and you saved $1k. These are made up numbers but I don't see the savings being the original $7k no matter how it works out.
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06-15-2017, 09:09 AM | #19 |
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Premium salvage car is a huge pain in the ass to resell and I think most rookies who want to save a few bucks end up loosing. If you buy some salvage winter beater then it make no difference, although still will be a pain to sell.
You would be surprised how many people shopping for some $5k car want to see a clean Carfax with zero accidents and one or two owners |
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06-15-2017, 09:17 AM | #20 |
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06-15-2017, 09:30 AM | #21 | |
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So doesnt that mean in that example a salvage car would have saved $8k total over buying the clean titled one? |
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06-15-2017, 02:26 PM | #22 |
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When it comes to resale I don't think you will have a hard time trying to find buyers. But they low ball the heck out of you. The only thing I can recommend to help with this is to keep photos of before and after the repairs were made and any receipt or repair order. Like in my case the truck wasn't damage that bad and I did keep photos from the auction just encase of when I do go to sale it later down the road. I need to show buyers that there wasn't any frame damage and it just needed another bed and bumper.
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