Post by
AZhitman »
https://forums.nicoclub.com/azhitman-u113.html
Wed Aug 28, 2002 3:22 pm
Two problems with a salvage title:
1) You MUST pay cash as very few banks will loan on a salvage titled car - See #2 below. You can never get rid of the SALVAGE descriptor, this is to protect any future buyers.
2) Very few if any insurance companies will give you full coverage (comp/collision) on a salvie car. Of course, if you get it for cheap enough, you won't care if it gets wrecked. But in the Celica example, it's too much to risk.
3) The $10K BMW is no deal at all. That car's not worth much more than that with a CLEAN title. It's a problematic car, almost 10 years old, with recall and reliability issues.
Fun to shop these auctions though. I'm thinking of a late 90's Caprice with the LT1 and the severe-duty suspension - strip it down for weight, add some mild engine and exhaust mods, put a $200 Earl Sheib white paint job and a push bar on it and make it an AZ road warrior. Last one that I saw at the police auction here in Phoenix went for $3K with 80K on the odometer. Good price for a beater/sleeper.