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Discussion Starter · #1 ·
I am looking at a Yellow 6 speed manual 2002 Coupe GT. The price seemed fine until I called and they told me that the car is a salvage title (repaired) and has no service history. The car has around 60k miles. What would you offer knowing that it is salvage and the clutch etc. could need to be done right away?
 

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Thats the “how long is a piece of string” question.

I’d look into why it was salvaged and decide after a proper pre purchase inspection. A branded title will always be worth less but these cars can get totaled out by insurance for insignificant parts.
 

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Discussion Starter · #3 ·
Thats the “how long is a piece of string” question.

I’d look into why it was salvaged and decide after a proper pre purchase inspection. A branded title will always be worth less but these cars can get totaled out by insurance for insignificant parts.
If the car was totaled for an insignificant reason, but turns out it was well kept otherwise, how much less do you believe it is worth simply because of the salvage title?
 

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I've been fixing my car by myself. It has never been in an accident, and it was just mechanical neglect. If I paid for the hourly rate for the work I've done myself I'd be $60 000AUD out of pocket by now.

I'd worry less about it being a salvage and a lot more about a proper PPI and paying for the actual condition of the vehicle.
 

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I would check with your insurance company first about covering a salvage/rebuilt title vehicle. Also, check with your state DMV about registering it. I've seen some cases where an out-of-state rebuilt title vehicle was purchased and the new owner was not able to register it in their state. Was it a flood car? Was the frame bent?
I would avoid it unless you know more about the history of it and the rebuild process.
 

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I would check with your insurance company first about covering a salvage/rebuilt title vehicle. Also, check with your state DMV about registering it. I've seen some cases where an out-of-state rebuilt title vehicle was purchased and the new owner was not able to register it in their state. Was it a flood car? Was the frame bent?
I would avoid it unless you know more about the history of it and the rebuild process.
This is very important,

Most insurance companies won't insure rebuilt or salvage title cars or will charge alot.

Also the car will be worth less than a clean title example no matter what so it'll be more difficult to put money into it because it's definitely never coming back
 

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I am looking at a Yellow 6 speed manual 2002 Coupe GT. The price seemed fine until I called and they told me that the car is a salvage title (repaired) and has no service history. The car has around 60k miles. What would you offer knowing that it is salvage and the clutch etc. could need to be done right away?
If you're like me, and never trade in or sale a car, the salvage title doesn't mean much to you. I would probably run the salvage title info by my insurance company first, to be certain it's a rate that i can deal with. Pay what you think the car is worth based on it's current condition. Good luck to you. (y)
 

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In many states you can have the repairs inspected by a state certified inspector and be issued a clear title. That was the case with my XK8.
 

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Got a great deal on a lemon law car once. It was a brand new BMW that was returned to the dealership at least 3 times for the same problem in a month, thus the lemon law. Not the same as a salvage title, I know. I purchased said BMW from a used car lot with 8k miles for 26K under its original purchase price. It was believed the car couldn't be fixed without a ton of money being dumped into it. A $68,000 car for $42,000. I replaced the high pressure fuel pump and that car ran like a dream. Moreover to my point, use the salvage title to your advantage in negotiating the price.
 

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Discussion Starter · #10 ·
Got a great deal on a lemon law car once. It was a brand new BMW that was returned to the dealership at least 3 times for the same problem in a month, thus the lemon law. Not the same as a salvage title, I know. I purchased said BMW from a used car lot with 8k miles for 26K under its original purchase price. It was believed the car couldn't be fixed without a ton of money being dumped into it. A $68,000 car for $42,000. I replaced the high pressure fuel pump and that car ran like a dream. Moreover to my point, use the salvage title to your advantage in negotiating the price.
Thank you guys for all the advise. I am going to have the car looked at by the local Maserati dealer to see what they think and check with my insurance company.
 

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Hi there, I have my car insured with Hagerty so if you don't plan on using it as a daily driver you should call and get a quote from them and see if they would insure it. There are some restrictions with Hagerty but at least in Canada the cost of insuring with Hagerty versus our usual stealers is significant
 

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I am looking at a Yellow 6 speed manual 2002 Coupe GT. The price seemed fine until I called and they told me that the car is a salvage title (repaired) and has no service history. The car has around 60k miles. What would you offer knowing that it is salvage and the clutch etc. could need to be done right away?
I am looking at a Yellow 6 speed manual 2002 Coupe GT. The price seemed fine until I called and they told me that the car is a salvage title (repaired) and has no service history. The car has around 60k miles. What would you offer knowing that it is salvage and the clutch etc. could need to be done right away?
Generally speaking a Salvage Title is valued at about 50% wholesale. But as has been said why the salvage title. I had a Caddy Seville a while back that received a near miss lightening strike (200yds) that killed the car - nothing worked. Dealer est 14k repairs, something didnt smell right, I bought for 900 and the 15k loan was cleared. As it turned out, I had to disconnect the battery and ground the car to earth (google). I let it sit o'nite grounded, hooked back up in the AM and BINGO. Drove it for a number of years. I just lost a 08 QP that I loved due theft, totaled, damage to right rear quarter but would have handling issues. Had to pass even tho it was a money maker. Lot of salvages due flood, wreck, etc. Many small shops buy them to flip. Unless its a steal and your guy inspects and drives to limit - run away.
 

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I agree and disagree. Purists of any brand will spite you and would never touch something like that, but many will buy a "restored" car that they have no idea what went into its "restoration". Their is nothing wrong with a salvage vehicle that has been rebuilt correctly. Correctly being the key word. Their are shady characters in any business. I have been rebuilding salvage vehicles for about 40 years and pride my business as a salvage dealer in challenging any buyer of my vehicles to find flaws. Hell, probably over half the vehicles on the road have or have had some kind of damage and repaired. In my state (Georgia) they inspect every rebuilt vehicle for safety and before the vehicle can be painted. Safety as in.... airbag, abs, check engine lights, etc.
To disagree with the last statement.... you sir are totally out in left field! Rule of thumb on a previous salvage vehicle value is about 25% off RETAIL.... not wholesale. Also, I have never heard of any insurance company not insuring a previous salvage car. I've sold a lot of them and no one has ever said they couldn't get insurance!!!
I mainly deal in Honda cars. They are dependable well engineered cars that I find easy to repair. The parts from the dealer are way more affordable than the GM cars I built in the past. If Honda can build a winning Indy car I think they can build a winning street car. That being said, my fun cars are european sports cars. Porsche and Maserati mainly. The reason I decided to comment here is that I rebuilt a 2002 Coupe GT six speed almost ten years ago and still love the car today. It had 24k miles then and 32k on it now.
My two cents to the author of this thread is to get as much about the reason it was salvaged. Pictures, parts, etc and do your investigation as in running the vin or carfax. And, if you're satisfied with the price and explanations buy it and drive the hell out of it like I do mine...
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