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Salvage Titles

Discussion in 'Ferrari Discussion (not model specific)' started by tritone, Feb 6, 2004.

  1. tritone

    tritone F1 Veteran
    Silver Subscribed

    Dec 8, 2003
    5,109
    On the Rock
    Full Name:
    James
    What does everyone think about 'salvage' titles on Ferrari's (and other exotics)? This thought arrived because of the numerous threads on the Enzo, and seeing the other cars from the same dealer - most will end up with salvage titles.
    If the car is well and truly repaired (to your satisfaction), and the price is attractive; why not?
    Obviously resale is an issue later when you're tired of it. A curious issue these days (lots more cars, ebay auctions, etc.)
    Opinions?
     
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  3. Dr C

    Dr C Formula Junior

    Dec 1, 2002
    480
    Kansas City
    Full Name:
    Ed
    Salvage titles?

    If you really hate your kids, and you are terminally ill, you buy an Enzo with a salvage title but don't tell anybody about the title. When you do die, everyone will be waiting around to cash in and be shocked when they can't find anyone to buy it.

    It's been a long week. Don't mean to offend anyone in cyberland who is terminally ill or who owns an Enzo with a salvage title.
     
  4. Cavallino Motors

    Cavallino Motors F1 World Champ
    Lifetime Rossa

    May 31, 2001
    14,143
    Florida or Argentina
    Full Name:
    Martin W.
    Salvage titles are mainly insurance write offs. Where the insurance co gets the car back.

    There are some very much salvagable cars.

    Take that Enzo:

    The Enzo has a carbon tub. Once it cracks you need to replace the entire unit. Once you do that you still have a salvage title but yet have a brand new car from ferrari.

    I have another example. I have a 550 that has a salavge title but the car went back to Ferrari, They put a new frame on the car and stam,ped the old VIN into the new frame (only Ferrari can do that) and the car is just as straight as a regular 550 but when you pull carfax you will have the salvage history.

    Now there are cars that should never make it back to the consiumer and they are bought and reissued. Those I would worry about.
    There are those that had major accidents and because of some insurance thing they did not get salvage titles but retain their clear title and really should have a salvage.

    My point being, you need to look at what you are buying.

    Martin
     
  5. Dr Mike

    Dr Mike Rookie

    Nov 1, 2003
    15
    If you want it get it but expect 50% of retail at resale
     

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