Wasn't this the salvage F355 that was sold before for about $26K about 1 year ago? Ferrari : 355 SPYDER in Ferrari | eBay Motors I think it was briefly owned by a local member here... I recall the salvage title -- if that's the case it's pretty brazen for the current ask.
This is the 2nd time on ebay, in a couple of months, that I have read about a car with a salvage tittle because of "minor damage" but the owner was paid. Sounds like a scam. I also contacted the owner of another car which was on ebay and not far from me. The lister promised to email me more pictures, records and directions so I could come see the car,....which never came.
Actually I never minded the color combo the first time that this car was on eBay. I may have the original saved listing somewhere but I recall at that point the seller disclosed that there may be some head gasket issues/etc. A while ago I chatted with the next owner who thought the car was a money pit and eventually got rid of it quickly. Even with a complete rebuild and other maintenance I don't see how the ask could be where it is
well he's honest to mention in ad, but does that mean title is clear now? still, even with a previous 'salvage' on the title, would affect re-sale, so $65K is not a bargain IMO
We see salvage title cars frequently and its always the same story, just a scratch or very monor damage.. The insurance companies have criteria to follow before they total a car. They are not in the business to give money away This criteria is formulated on value of car, extent of damage, and total costs of repairs, finally if the repairs will satisty the client. For example if there is a major exterior damage the repairs might not exceed the base line 50% loss ratio but the cosmetics may not meet the owners expectations so they total the vehicle. Now assuming a 355 like year and options would retail for 65k, they then get estimates for repairs. The formula for repairs versus totaly loss is base lined at 50% for openers then due to the value of the vehicle and the type of the repairs may drive the base line up to 70% depending. Now the sellers "story" is minor damage not mechanical but he states lower control arm etc, thats mechanical to me. I'm guessing lower control arm, wheel, power steering rack and mostl likely a strut. So using this as a base line lets assume the so called minor repairs run the insurance company 10 grand. We are a very long way from the base line 50% rule. I think something stinks here and it starts with the sellers sotry. So he purchased it from the insurance company at auction, ask him to give you the insurance company he bought the salvage from. This paperwork will have the claim number and sometimes the previous owners name. Contact either the previous owner or the Insurance company and ask for the claim paper work and see for yourself how exstensive the damage was. This claim paperwork often has the adjusters name and phone number and you can then contact the adjuster. With most expensive claims there will be a photo file as well. If he really has nothing to hide, he will provide this information quickly, if he is scamming he most likely not be forthcoming with the documentation. If you can get the vin number your local Ferrari dealer may be able to run the vin and see if there is any history of record, you might get lucky and get aprevious owners name. do the detective work before you fall in love a buy a pig in a poke. If its too good to be true it usually is!!!!! Just sayin' Howard Musolf 1981 308gtsi 1982 400i Cabriolet 1994 348 spyder
In CT such tittles can never truly be cleaned as any salvage tittled vehicle which is rebuild and passes the required state inspection will be issued a tittle stating that the car is rebuild. And yes, the colot combination is ugly.
I have seen cars with Very light damage totaled, its not like the insurance agents go out and find everything wrong with a car, then go price out how much it will be. They do a very quick walk around of the car they might even miss some damage so they make an educated guess on the amount of work it will need. Plenty of insurance agents will total perfectly fixable cars. Others with have cars fixed that should be totaled. I have seen it with my own eyes but im only a licensed auto body mechanic. A few years ago my ex wife had some kid smash into her Dodge truck and the costs to fix the truck was over 50% of the value yet they fixed it anyway. Its a weird industry to say the least I can not figure out some cars and the titles they end up with. Go check out copart.com some time. lots of money to be had in the salvage car industry The insurance companies do not just lose that money they paid for the car, they sell the wrecks at auction and its not just a highest bidder type of auction, some of them have a reserve on them so they make their money, where do you think places like t rutlands and ferr parts get their cars they part out. I am not associated with this car and I do think it is over priced but once it gets that salvage title its branded and not worth anywhere near retail. A car will get a salvage title for a number of reasons including being stolen and some agents total cars when the airbags blow just because of the costs associated with them. Educate yourself don't just hate on salvaged cars they can be good deals. Every state is also different in how they handle the cars after they are fixed and what is on the title. Some states don't reference the salvage title and others will state "previous salvage title issued" Never trust carfax either!
I suppose $26K is too much for this car, I bought salvage car 2 years ago but I'd never buy it or any other vehicle with salvage title if it wasn't saving me at least 80% off the retail value of the car. BTW the interior color is too bright
This is right. remember that in some cases an undamaged car can carry a salvage title because it at some point it was a recovered theft with no damage. I have owned a few non Ferrari's like this and they were bargains! (some can also be nightmares, so do your homework first.) Judge each car on its merits, tainted paperwork will always haunt a cars value, but if you just want one to drive remember salvage does not always mean 50% wrecked! This car judged on it merits, is pretty optimistically priced
I know this probably does not pertain in the US but I live in Canada and have a neighbor who has a few year old Aston. His wife now ex wife took a Scotty Cameron Napa limited edition to every panel of the car as well as the glass. Once she finished with the body work she destroyed the interior with a sharp object. The car was totaled by the insurance due to damage. He is in the insurance business and bought the car from the company once it went through the paper work. It took maybe two years and I guess a lot of referrals to the body shop that eventually did the work but he is once again driving the car. I think the whole insurance thing is a big scam. He always mentioned the car was totaled by the company. It looks great now and he changed the interior color as well.
The fact is this, If it will cost the insurance company more money to fix your car costing them profit they will total your car and sell it at an insurance auction to make their money back. It is and always has been about making money. Not fixing cars or making the customer happy.
