Red86Cfour

Hi All

I'm looking at a 99 C5. Its midnight blue, 6 spd, black leather, HUD, power memory drivers seat, new Falken tires on chrome wagon wheels, Z06 exhaust, and 47K on the clock. It has a salvage title. It was driven through a cyclone fence, and got a new front bumper cover, hood, windshield, removeable top (body colored) and probably mirrors too. No parts were repaired, only replaced. No suspension, structural damage or airbag deployment. It got a total repaint at a shop that I've done business with before. The seller is a corvette salvage shop that I've known for probably 10 years. Its been his daily driver for about 2 years and he has not advertised this car, though he has 3 others that he is advertising. The closest dealer and private party prices that I'm seeing on KBB and autotrader online are in the 25K range, and this one is significantly lower, 19.5K

I looked at it yesterday and it was on a lift basically being stored while he drives the other cars currently for sale. I'm going to drive it on saturday, and if I like It I'll be buying it unless somebody here has any really good reasons to run away.

I'm looking for a daily driver that I'll keep for some time so I'm not concerned with investment/short term resale value, just enjoying the ride on a daily basis. The color is my Wifes favorite, so it seems like a no brainer decision so far. Is the salvage title really worth 4-6K less on the price?

Thanks
Ted

StratTone

Not sure what to tell you here. I'd say if you shop good you can find another car just like it for 22k easy. So you really arn't getting that good of a deal considering the salvaged title. I'd look elsewhere. I bought my '99 for $19,500 and it has a clean title and no wrecks. After taxes though it was $21,265. I got a pretty good deal because my buddies dad owned the dealership and they were WAY good on the trade-in but you should still be able to find 50k mile Vette's for 22k-24k with clean title's. I think that the salvaged title will really hurt the resale but as you stated your really not looking to resale. There really is no wrong answer. As long as the car is a solid car and you really like it that is.

mjallen40

Well, you have known the seller shop for 10 years. You know of this particular car for the last 2 years. The fact that you are even considering this car tells me that you trust the seller. So... you may be answering your own question.

Zeek

$19,500 I just way too high for a salvaged title car...IMHO....I wouldnt pay more than 17,500, tops.....Even though your familiar with the car....(and I know youre not concerned with investment) If you ever had to sell the car, you would have a real hard time just selling it, let alone get close to what youre paying for it.....
Long story short....buy it, just not for $19,500......

screw991le

I would never buy a salvage car, IMHO

Dope

Worth about $10k is my guess.

Dope

BBates

I owned a salved car ONCE and it will never happen again!! I have never owned a car that was harder to sell. No bank would finance anyone once they found out the title was branded. If it was me, I would keep looking for a car with a clean title. Otherwise I would not pay more than 70% of what a comparable car with a clean title is going for. For a comparison I bought my '97 6 speed with 58K and a clean title in CA for $18 about 6 months ago. Good luck with your decision.

PHPD7102

Look up the value of the car in KBB or NADA then cut it in half with a salvage title.

I just went on KBB and if you use private party price and trade in price it gives you an option to rate condition at bottom. I used the guide to rating it which gives you an option to click salvage title. I gave it HIGHEST RATING in every class except I checked major repair work done and salvage title. Values listed below:

Private Part value 18180.00
Trade in 15080.00

Keep in mind other than the 2 ratings for the repairs and title I gave it perfect high ratings in every other category. $19500 waaaay to much unless this car is absolutley flawless.

X-ZZ4

Completely.

I know you said you don't care about a short term sale...but sometime down the road you're most likely gonna wanna sell it, and when you do you're gonna be hating life.

Also, have you talked with your insurance company about this? My guess is they'd be reluctant to even insure it. And, God forbid, you total the thing I wonder how much they'd even give you for a claim? There are just SO MANY issues with a salvage car.....I'd NEVER buy one unless I was gonna make it into an all out race car and register it as an off road vehicle only. And even then I don't think you're getting a good enough discount on the thing....too much $$$ to ask for a salvage car.

C5VetteLS1

I seen an 01 with a salvage title for $13.5k with only 19k miles listed on one of the many sites I've been cruising in my search. At least at that price and mileage, I could understand the temptation. In your case however, it seems that it's only being discounted from $1k to $2K over a clean titled car. Personally, I wouldn't do it! JMO. If for any reason you do need to unload it at some point, you're looking at taking a significant loss.

jeff1surfs

Good luck on your choice

GrayC5

Some very good advice above on things you need to seriously consider on a salvage title. Good luck with the decision.

BTW, welcome to the Forum!

PaceThis

Depends on the car...sometimes they're nicer than non-salvage cars...depends on how it was redone. If you're comfortable with it, buy it.

Red86Cfour

Boy you guys know how to burst my bubble

I've talked with my insurance guy and he said it would need an inspection but other than that there weren't any other issues. I'll ask a few more insurance questions based on the above comments to some friends that work in the trenches as claims adjusters.

Thanks for the welcome. If anyone in the San Jose/SF Bay Area has a C5 for sale, shoot me a pm or something. Minimum requirements are 6 spd, coupe, and not black or silver. This particular car is one of the cheapest I've found, and its got about half the miles of those cars.

GrayC5

Watch the C5 Corvettes for Sale section of the Forum. It might give you some indications as to used C5 pricing. And, you never can tell, but you might find a nice one for sale near you. Good luck finding the right new ride.

JACKAL0PE

Put an ad somewhere for this car, as if you were going to sell it. Ask $12k for it and see how many bites you get. Just make sure you list very clearly, "salvage title". If you get ANY bites, I'd be amazed. There's just no way I'd buy a car with a salvage title.

Vetteman Jack

If it were me, I'd look around more. Salvage title cars can be very, very difficult to sell again without taking a considerable beating. There are plenty of good deals out there if you are patient.

jrose7004

IMHO I wouldn't want a car with a salvage title!

sxeC7

If you really plan to keep it forever and can get it for under $15K, go for it. Otherwise, forget it and find a clean title one.

ericdwong

Although you know the seller, $19.5K is way too high. I got my car two years ago, (although it is a 98) with similiar miles, but clean title for only $3000 more then this car in question. The mods dont add any resale.