bigdaddy58

Found a deal on a once wrecked C-4 convertible... The price is good compared to most on the forumbut, how bad will it be if I ever deciede to sell? Are there any issues that I should be aware of?

I have a 08 Z o6 that I drive on weekends but I wanted a daily driver...
you know the type nice, but not perfect...hence the thought of buying the C-4.

Thanks in advance for your thoughts.

JrRifleCoach

Are you saying the car has a Salvage title?
If so collision insurance is tough to get.
Any details on the extent of damage?

PLRX

No wrecked car is a deal.

bigdaddy58

Yes Salvage title and it was repaired and inspected by DOT.

Cost or the car is almost half of others with the same options and same year.

laurieb

That right there should tell you something about how it is to sell something with a salvage title. If it weren't a salvage titled vehicle, perhaps the current owner would be selling for a price similar to what you typically see for the year/options. Unless there is something else affecting price.

My husband owned a Mustang GT about 15 years ago. It had not been in any accidents when he purchased it, but while he owned it, someone backed into it while it was parked. The only damage was some body damage. He had it repaired, but it was then given a salvage title. When he went to sell it, there was a lot of interest in the vehicle. People liked the way it looked and drove, but the salvage title scared off a lot of potential buyers. It took a while to sell, and he had to drop his price below what comparable vehicles were getting because of the salvage title. I guess he could have waited for someone who wasn't bothered by the title issue, but who knows is and when that would have happened?

bigdaddy58

Thanks for the input guys, I may have to rethink this a little more.

I have noticed that cars on the forum that have been repaired seem to be for sale for a long time even with a lower price.

Nowhere Man

if it the car checks out for all the mechanical issues, all the electrical parts work like they should, the "frame" is straight, the body work is good, and you could care less about resale then it might be a good deal. most people think about resale when buying a car. and salvage tittle cars do not have that. but if you want a car to run until it dies then it could be good. but there are a lot of big ifs in there

corvetteronw

I asked my credit union about a loan on a salvage title C5 vert a few years ago. They said that they look at the NADA dealer guide for a clean titled car and cut the loan value by 1/2. So if the C5 was going for $30,000 then they would only loan $15,000.
You might want to ask the folks at the NCM insurance if they would even insure one.

randy ransome

This is the best advice you've been given so far.

I've dealt with many wrecked and salvaged vehicles.

Everything stated is true.

The longer you keep and use it the better you'll come out. Good luck.

LoneStarV

Daily driver? That being the case current and future value is meaningless. There are 2 things that matter here. Where was it hit and how bad was the damage? Frame damage? Or just fiberglass cosmetic damage? Was it repaired properly? Is it safe? If it wasn't massive AND it was repaired properly use that salvage title as a weapon. Tell the seller you will be stuck with it. Get it as CHEAP as you can and drive the daylights out of it. Write it down to a value of ZERO the day you buy it and enjoy your daily driver......

Nowhere Man

Also when was it repaired and wrecked . A salvage tittle comes about becouse the cost to repair with parts and labour is more then the cars value before the wreck If it was done before it was 10 years old it would take a lot repair to exceed the value of the car. If it happend recently it would not be to hard to cause that much damage to get it salvaged

93 lt1 vette

Salvaged title cars are hit and miss.

The title isn't the major draw back, the damage that occurred is. I wouldn't be totally opposed to buying a salvaged title car, as long as it was mechanically sound. I'd put it on a lift and inspect the frame, suspension, tire wear. Follow it down the road making sure it doesn't crab, if it was solely cosmetic damage and body panel fit and paint are good have at. Just remember when it comes time for major maintenance, your sinking money in a car worth about half of the others out there.

BB 2005

Is it really half the price of similar cars? If you don't mind, what is the year and what are they asking?

Whiteonrice

If the seller had pictures or documentation of what the damage was it would help. I would also like to know who rebuilt it, were they knowledgeable Corvette people or a guy working under a tarp in his driveway. If you get past that then how does it drive. What works and what doesn't etc.

Good luck

MTVette

I have some personal experience here. 12 years ago I bought a 92 with a salvage title. In 1994 it got hit in the front corner, requiring replacement of the hood and nose. Those two parts alone cost $7K from the factory, and along with other parts plus labor, the estimate for repair was $17K, so the car was scrapped and insurance paid off in full.

A guy who works in a body shop bought the car and spent 6 months rebuilding it, using parts from a Vette wrecked from the rear. Then he drove it for another 7 years, until he finally rebuilt a newer C4 and sold the first one to me. I paid several thousand below market prices because of the salvage title.

Since that time, I've put an additional 110,000 miles on the car. At 155,000 miles I had the engine and tranny rebuilt for drag racing, but it's still a mostly street car, just one that runs the quarter in the 11's and goes 0-60 in under 3.5.

The moral of this story is that a salvage titled car can be a great bargain if you're willing to check it out properly and keep the car for its remaining lifetime, not sell it.

YMMV...

bigdaddy58

Thanks again to all that responded.

The car is a 96 convertible 6 speed.

It was hit and repaired last fall... and then to auction. Insurance paid to have it repaired at a shop that does work on corvettes. It seems to drive nice, and no rattles or excessive play or vibrations.

I will have to check the tracking... it does go straight down the road if you let the wheel go while driving at all speeds.

Price is 8K

LoneStarV

Get the name of the repair shop. Call and ask to see the repair records. They should be able to email them to you. Clean retail on that vette if it's 40,000 miles or lower is 15k so that's not a bad deal. It boils down to how bad the wreck was. Just remember YOU are in charge here. As a salvage title car you have the advantage. Drive a hard bargain.

dlrx

Mine was popped in the rear bumper in 2001 at 48k miles. It then was auctioned twice to the prior owner eventually at 63k in 2004. They owned it for just short of 8 yrs before they traded it in on a new Mustang after another 12k.

It wasn't a salvage title, but the bumper panel is what I can best describe as "slightly mis-fitting". Nothing from 10 feet away you can notice, but you get right up against it, and you can see the bumper panel isn't perfectly fitted I'll put it. Very, very un-noticeable.

Drives perfectly straight, brakes perfectly straight...if I hadn't seen the auto-checker report, I'd never know it was tapped at some point. The way I figure, the prior owners put 27k on post-wreck, so it must have driven fine. I bought mine to drive, and I have (10k since NYE 2011). Past history really didn't mean anything to me cause it drove so well.

lt4obsesses

It's an LT4 car, that is a good thing. The main thing, as you know is the frame, also the batwing and the driveline. But if you're looking for a good daily, this would be a good car assuming the repair is quality.

As far as resale on these things, especially with salvage title, one must look at sale vs, purchase price, not market price of non salvaged car. Keep it well maintained and enjoy it for awhile and it shouldn't hurt you too bad.

Just BOB

I Alabama, a salvage title signifies that a vehicle can only be used as a parts car or rebuilt. It can not be registered to drive "As IS". A rebuilt salvage vehicle has to be inspected by the state to verify that the vehicle is safe structurally and mechanically. Once the car passes inspection is is issued a "Rebuilt" title and the inspector affixes a "Rebuilt Vehicle" decal to the driver's side doorjamb. Part of the rebuild documentation that is captured is a short description of the damage that was repaired.

I bought a low mileage 97 Camaro convertible for less than half of NADA retail 10 years ago. It was in a frontal collision and so I put it on a rack and checked underneath and under the hood for wrinkled metal and popped spot welds before I bought it.

In the past 100,000 miles it has suffered through three college degrees, 2 fraternities, one sorority, countless spring break trips to Panama City and one seizure by the Okaloosa County Sheriff.

The only downside has been being charged full premiums for Collision and Comprehensive, even though State Farm will not pay out more than 65% clean title value on a rebuilt, and liability claims usually settle on about the same value. My biggest worry is that someone will hit me and total it out against the lower value, leaving me unable to procure another comvertible without throwing in more cache. It has been (and still is) a cheap, fun daily driver.

Like any other car, it all boils down to inspecting what you are buying and deciding if it is worth the asking price.