| Author |
Message |
Martin (Miami348ts)
Advanced Member
Username: Miami348ts
Post Number: 3345
Registered: 5-2001
| | Posted on Tuesday, December 03, 2002 - 6:59 am: | |
I can not see why not either.
Salvage is such a overstated word. Most insurance companies do not want to deal with a damaged Ferrari. They rather write it off. Hard to sell at auctions and the owner usually does not want to car back. No frame damage is the key. I fthe body got smashed in the front above the frame, where is the problem?
You buy a great car for $15K below value and can drive happy for years. I'd buy it. It is such a good deal, you can drive it and keep it when you are done with it. Parting the car out is almost worth the purchase price!
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Chris A. (Asianbond)
Junior Member
Username: Asianbond
Post Number: 105
Registered: 5-2002
| | Posted on Tuesday, December 03, 2002 - 4:07 am: | |
If it is mechanically sound I see no problem with it. You're basically driving a 50k car for 35k, when it comes time to sell your downside is quite limited given your initial outlay. If you bought a 50k car you may end up losing more money. As long as it drives fine there is no downside, people are too stuck on history, it's only a car. You get what you pay for. If you want the piece of mind go buy a 50k model. |
Dave Penhale (Dapper)
Member
Username: Dapper
Post Number: 389
Registered: 4-2002
| | Posted on Tuesday, December 03, 2002 - 2:25 am: | |
No barge pole is long enough to measure how far away I'd stay from this. Great price, but you try shifting it when trade up time comes, you'd maintain the delta if you're lucky, so over time it wouldn't have been worth the risk in any case...go figure |
John A. Suarez (Futureowner)
Member
Username: Futureowner
Post Number: 262
Registered: 3-2002
| | Posted on Tuesday, December 03, 2002 - 1:38 am: | |
US $35,000.00 (reserve met)
This thing actually sold. I hope someone does an incredible PPI. |
Mark Eberhardt (Me_k)
Junior Member
Username: Me_k
Post Number: 192
Registered: 5-2002
| | Posted on Monday, December 02, 2002 - 10:15 pm: | |
In NY, up until about 10 years ago, you could buy a salvage car, repair it, then take the car and the reciepts for the parts to Albany for inspection by the DMV. They would then issue a clean title. You can still do the same thing, but now they issue a reclaim title so it is clear to buyers that it has had major work. I had a friend that used to buy several same model crashes then make a couple good cars out of the mess. He stopped when they changed the law because even though he had alway told and gave photos to buyers, the law change made the prices drop too low. He was selling them about 20% below a perfect car. A 348 for 35k, I just don't see how it could be fixed right. |
Paul Newman (Newman)
Member
Username: Newman
Post Number: 750
Registered: 12-2001
| | Posted on Monday, December 02, 2002 - 7:14 pm: | |
After years of being in the auto recycling buisness, salvage title meant chop it. never allowed on the road again. This was what I was told and we always had the quebecers coming down to get clean vins for their stolen projects or salvage title cars they wanted to resell. |
J. Grande (Jay)
Member
Username: Jay
Post Number: 833
Registered: 10-2001
| | Posted on Monday, December 02, 2002 - 5:45 pm: | |
I don't know, I live in Canada. I would imagine it has to pass some kind of inspection. |
Roel de Fouw (Spawnz)
Junior Member
Username: Spawnz
Post Number: 90
Registered: 6-2002
| | Posted on Monday, December 02, 2002 - 5:37 pm: | |
Matt & Jay: thanks alot for the explanation.
Just one more thing;
Reading from your post jay, I understand you can actually have the salvage title removed? Wouldn't that be the next logical thing to do after completely fixing the car back to "perfect" condition? Seems to me a salvage title gives the car a bad name. How much trouble is it getting the car "clean" again? (costs involved?)
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J. Grande (Jay)
Member
Username: Jay
Post Number: 832
Registered: 10-2001
| | Posted on Monday, December 02, 2002 - 5:29 pm: | |
Roel, a salvage title means that an Insurance company has written the car off. In other words, it is cheaper for the insurance company to write a check for the value of the car than to pay to have it fixed. I would be weary of a car that sold for so cheaply. There must have been severe damage for the owner to let it go so low. If it was fixed properly, why didn't the owner go through having the salvage title removed? Makes you wonder. |
Matt Lemus (Mlemus)
Member
Username: Mlemus
Post Number: 763
Registered: 8-2002
| | Posted on Monday, December 02, 2002 - 5:29 pm: | |
salvage title means that the car was in a accident and was "totaled" out by an insurance company. Totaled means that the cost to repair the car exceeds and predefined amount. In this case. $60,000 car was in an accident. Causing $20,000 in repairs. Insurance totals out the car. Some company buys the car for $10,000. drops the $20,000 to fix it and hopes they make a profit. Sometimes the repair is not up to part.
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Roel de Fouw (Spawnz)
Junior Member
Username: Spawnz
Post Number: 89
Registered: 6-2002
| | Posted on Monday, December 02, 2002 - 5:25 pm: | |
Oh my god,
someone, -please- tell me there's something completely wrong here. I feel like i've missed out on the best deal of the century.
Oh and by the way, being european, what exactly does the "salvage title" statement mean. Does it mean that the car was damaged at some point in its life?
Still can't believe it. |
Matt Lemus (Mlemus)
Member
Username: Mlemus
Post Number: 762
Registered: 8-2002
| | Posted on Monday, December 02, 2002 - 5:05 pm: | |
it's a real car. Sounds funny. |
D.E.S. (Sickspeed)
New member
Username: Sickspeed
Post Number: 29
Registered: 8-2002
| | Posted on Monday, December 02, 2002 - 4:52 pm: | |
no way...! shi*, i could launder- er, i mean borrow 35k from someone, somewhere, some how, for that... is there a transmission in it, or it just a body...? it's not a repro, is it...? |
John A. Suarez (Futureowner)
Member
Username: Futureowner
Post Number: 258
Registered: 3-2002
| | Posted on Monday, December 02, 2002 - 4:45 pm: | |
http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&item=1873528465
Says that this car has a salvage title. What do you guys think this car is worth? Certainly looks sharp! |