For those of you with salvaged cars.

[1stoptuner]

How come salvaged cars are so much cheaper than clean title cars? Oh yeah does your insurance cost more if your car is salvaged? The reason why I'm asking is because my cousin's neighbor is selling an 04 350z with only 52k miles for $11k and it is a 6 speed and nothing wrong with it. My cousin told me that all I have to do is TO GET THE AIRBAG LIGHT RESET (PROBABLY RE-PROGRAM CRASH DATA MODULE) AND FINISH THE CHP (INSPECTION.) Is this worth it?

[xjmxstac]

How come salvaged cars are so much cheaper than clean ....

Well, to start off, a salvage title means that the car has been damaged 65-75% of its value (severe damage). A salvage title does not guarantee the road worthiness of a car. Many salvage title cars have bent/damaged frames, which means that the car's alignment and symmetry is off. Many of which is cosmetically unnoticeable. This means that you're gonna be wasting tires for the rest of the car's life. Flood damage on the other hand will give you rust problems as well as electrical and some mechanical issues. Bottom line is that if you are gonna pick up a "restored" salvaged car, be prepared for some headache. You can spend a lifetime trying to figure out what is throwing off your car. To me it's just not worth the risk. Another option is to buy a wrecked car and build it back yourself. This way, you will know exactly where the problem spots are and fix it adequately. However, time and money could be against you.

Many, if not all, insurance companies will not fully cover salvage title cars.

[Watermelonwarrior]

That car is worth more like 7-9. In my area there is a 06 with 60k miles going for 14900. It also has Nismo wheels, BBK kit, and carbon hood.http://dallas.craigslist.org/d....html

I wouldnt buy a salvage car unless I was looking to build a track only car and I was going to build the car up.

[xjmxstac]

They're actually stock track edition wheels. Just FYI. And yes, they are made by RAYS but no they are not Nismos.

[Watermelonwarrior]

I don't know why I said they were Nismo I know they are Rays. My friend has a track Z. This is the problem when posting so late... haha

[Retired Chief]

I don't know where you're getting your info saying that car is only worth $7-9k. All of my resources show that even in poor condition its worth around $11k USD. Maybe 7-9k for one that is considered salvaged.

Back on topic. A guy I used to work with bought a salvage titled Mustang GT and he couldn't find an insurance company that would cover the car. They would only give him liability coverage. It's a good thing he paid cash. When you take out a loan for a car the bank requires that you have full coverage until the car is paid off. This car had been flooded in a hurricane. After buying the car and then spending more money trying to keep in running correctly he could have spent less money getting a good condition car of the same year. I think the best advice is to stay away from salvaged cars unless you get it for a great price and plan on selling it off as parts.

[RCA]

My brother has a salvaged 350zHe baught it from a special company that deals with expensive cars with water damage. This company replaces the whole interior and they record there work with videos and pictures.

The major issues he is dealing with is:- Special inspection: This inspection only can take place with a scheduled appointment and it took place in one location- Insurence Coverage: Very difficult to get insurence for it. The process took about 2 months after passing inspection also my brother can only have Lyability and not full coverage

[C-Kwik]

A vehicle is salvaged for one reason and one reason only. COST. When the cost to repair a vehicle is more than the cost to total it, it is totalled. Any car can be repaired. The problem with salvage cars is that for anyone to actually make money trying to rebuild and sell a salvage vehicle, they have to shortcut some of the repairs. THIS is where salvage vehicles become problematic. Bent frames can be straightened. All body panels can be repaired/replaced.

Salvage vehicles don't carry larger premiums. The risk of being involved in an accident doesn't change because the vehicle is salvaged (assuming proper repairs). If anything, the value of the vehicle is less, so there is potential for the rate to be slightly less for the comprehensive and collision coverages, but I doubt an insurance company will actually make a specific rate schedule for salvage vehicles. Some insurers do avoid certain salvage risks though as they can be used for fraud. Most particularly flood vehicles.

As for getting a salvaged vehicle registered, it simply has to be repaired to a safe condition (including airbags) and a brake and lamp certification needs to be completed. After that, the DMV will inspect, but may refer you to the CHP for inspection if there is any question about the legality of the VIN# (in many legitimate repairs if certain VIN stickers were removed, they may refer you to the CHP).

That said, the only way I'd work with a salvage car is if I were the one in control of its restoration. While its possible you might run in to an owner, who didn't pinch pennies in the repair, its unlikely. Hell, I find that most repairs done outside of insurance are pretty shoddy as the owner was looking for the best deal possible rather than being concerned with proper repairs.

[1stoptuner]

That's a very nice Z. If i didn't have mine I'd buy that one instead. Anyways its amazing how a car's value depreciates in so little time.

[evildky]

the fact that a car has a salvage title may or may not indicate potential problems down the road, the simple fact is that a car with a salvage title is worth significantly less, , I see many adds where they try to minimaze the fact that they have a salvage title btu the bottom line is that title is salvage and therefre worth less, end of story

and I'm sure different states and different insurance companies have different rules but my sister had full coverage on a salvage title focus, they had no trouble offering full coverage but if there had been a claim I am sure they would have adjusted the value down to refplct the market value of a salvage title car

[tib22]

i never join forums but so many people are mis-informed on salvage cars. a car can get salvaged just because of a fender. i rebuild salvage cars on the side. 90% of the time the frame or u body is never hurt. I have put nothing but a fender and a bumper on a car many times and thats it. so why does it get salvaged "totaled" out? the cost of labor. Insurance pays $35-$42 an hour for body/frame work. does not take long to total out a car at that price. Not only that, but the adjuster determines if the car it totaled or not. they are suposedly trained in there field, just ask how many of them have actually worked on a car. It gets salvaged because of one persons opinion, which in most cases can barley change there oil. If they are rebuild right they are as good at new, maybe better. never hurts to ask for before pics though. so what if the frame rails are bent, the just hold the bumper and sheet metal on. if the car aligns correctly there are not problems. my whole family have cars, trucks, boats, campers, motorcycles that are salvaged. as far as insurance, many insurance companies insure rebuilt cars. no they will not insure salvage, and of course not, technically a salvage car is not legal on the road it has to be inspected and put into a rebuild salvage title, then you are good. the only company i know is Travelers insurance, and even at that i work with a guy that has a rebuilt car and is insured with them. in the case you wreck it, typically they give you 20% less than the retail on the car which should be more than you paid for it. rebuilt salvage cars are work loan value, many credit unions will loan, loan value on a rebuilt salvage car.
I always get trade in values on any car or truck i sell. I also make a note to fix everything that i can find wrong with the car even if it was not due to the accident. salvage cars are a great way to save money. when you are looking at one, not only ask for before pics, look the car over good, but read the seller. see if they are honest or not, that will tell you a lot about the car. It is a gamle just like any used car, any used car could break down tomorrow. i hope that clears a bit up.

fyi flood cars are salvage cars, but the title will indicate flood on them. I personally stay away from floods unless its a diesel, the water line can be seen and is below the dash, and the dash cluster work. other than that i stay away from floods.

[RED_DET]

I just picked up a salvage title 04 touring 6 speed. It was salvaged because someone decided they would try and drive through standing water and sucked water into the intake via the NISMO CAI and hydro-locked the motor. Vehicle had no other damage, no water damage either. So here in a few hours, we will hear her come back to life. Body of vehicle 8/10, interior 9/10.