Buying salvage title?
#1
Buying salvage title?
This is my first post. i came here because i was wondering something. im thinking about buying a 2010 ss later this year. i want to get a salvaged one simply because i cant afford a new one. i was looking and found some flood damaged ones. my questions is what could be wrong with it? my guess is at total loss.
Full engine wiring harness.
Full wiring harness for gauges and junk.
maybe even interior electronics.
engine and transmission should be good but i would rip both apart to drain and clean. Dry everything and swap all fluids.
Any guesses as to what these could cost and if i missed anything.
Thanks for any help you guys can give me.
also looking at some that were rear ended but i got that parts list down.
Full engine wiring harness.
Full wiring harness for gauges and junk.
maybe even interior electronics.
engine and transmission should be good but i would rip both apart to drain and clean. Dry everything and swap all fluids.
Any guesses as to what these could cost and if i missed anything.
Thanks for any help you guys can give me.
also looking at some that were rear ended but i got that parts list down.
#2
When a car is declared a total loss the repair cost and part cost of the car exceeds 75% (is what my insurance company says) of the car's value. With a flood car you could be getting in way over head. Electrical problems on newer cars can become a nightmare, especially when you are talking about having to redo ALL the wiring in the wire. You also will have a destroyed interior meaning you need new carpeting, sound deadening, door panels, seats and hell, maybe even a new dash and console. Add in the potential cost of a hydro-locked engine and I would stay clear of a flood car. Also remember that with a salvage titled car, no matter how pristine you make it and fix it up it will always be worth very little and will be VERY hard to sell later on. If you want a salvage title car, look for one that was in an accident, the damage is usually more easy to guess at when you can see it all before you.
#3
....And, some insurance companies will not insure a car that has a "rebuilt" title, which is what you're going to have to apply for once the car passes state inspection.
#6
Join Date: Nov 2007
Location: Eastern PA,
Posts: 10,353
Just remember you are talking about a car that was hit and has 20K+ worth of damage. These cars always car coming with frame damage. Even a dealer can replace a lot of body pannels for 20K.
Last edited by Gorn; 02-04-2013 at 04:22 PM.
#7
I'm getting a parts list for complete panel replacement. Ill throw a few thousand in for random junk. Most of the money people put out is in labor. My personal labor for my self is free, sort of, then I can have it painted for cost because my buddy owns the shop. I'm figuring 5 to 6 for the car and another 10-12 In parts unless I can get a donor car. I've dealt with insurance companies. They over price everything. Just to fix my front bumper on my truck they said it would cost over six grand. Without paint. If I had the shop at the time I could of done it for under half that.
Any other help or advice is appreciated.
Any other help or advice is appreciated.
#8
There are a number of 2010 Camaro SS models for sale near me on craigslist. One has 54k miles, asking price of $21k, which means an easy purchase of $20k or a little less. Your scenario, on the safe high end, leaves you at $18k spent. Now take into consideration your car will be worth less money than a comparable one that hasn't been "rebuilt", and you would be doing good to break even. As a buyer, I'd spend a few grand more to get a car that hasn't had a shady past. The buyer will inherit the stigma the car has, and would have the same issues when he goes to sell, which makes a smart shopper very cautious.
#9
Join Date: Nov 2007
Location: Eastern PA,
Posts: 10,353
I do not think your going to find a repairable SS for 5-6K. The LS3 with the trans alone will sell for 7-9K the rear will sell for another $1500 and ther is another 3-5K worth of parts on there depending how it was hit. Unless you know someone high up at an insurance company your going to have a tuff time getting one from a salvage company for under 10K.
Your not going to save as much money as you think there are way too many shops that do this type of work as side jobs. They use them as filler for their guys when there is no work. They don't mind breaking even because their goal was to not lay anyone off in the slow time. If it was really worth while most bodymen would be driving around in newer reconstructed cars. Most of the body shops that do this are valued customers to the Salvage company. They will get first pick. The cars your going to get access to are the ones all ready deemed to much work to break even on.
Your not going to save as much money as you think there are way too many shops that do this type of work as side jobs. They use them as filler for their guys when there is no work. They don't mind breaking even because their goal was to not lay anyone off in the slow time. If it was really worth while most bodymen would be driving around in newer reconstructed cars. Most of the body shops that do this are valued customers to the Salvage company. They will get first pick. The cars your going to get access to are the ones all ready deemed to much work to break even on.
Last edited by Gorn; 02-06-2013 at 07:53 AM.
#10
Join Date: Nov 2007
Location: Eastern PA,
Posts: 10,353
Just saw this on my local Craigs list
Wrecked repairable 10 Camaro ss orange - $16000 (Doylestown)
For sale bought from an insurance co, car was totaled has penna salvage title runs n drives 2010 Chevrolet Camaro ss orange with black leather 6 spd v8 400hp damaged in front need whole front end replaced. Airbags are fine. No other damage other then front end.. Kbb value is 30k plus ... Has 45000 miles. Price is firm,
http://allentown.craigslist.org/ctd/3603433583.html
She might have a KBB of 30K with clean title but that would drop to 20K with a reconstructed title. I think this guy has a case of the wishful thinking, but it gives you and idea what you will be up against.
Wrecked repairable 10 Camaro ss orange - $16000 (Doylestown)
For sale bought from an insurance co, car was totaled has penna salvage title runs n drives 2010 Chevrolet Camaro ss orange with black leather 6 spd v8 400hp damaged in front need whole front end replaced. Airbags are fine. No other damage other then front end.. Kbb value is 30k plus ... Has 45000 miles. Price is firm,
http://allentown.craigslist.org/ctd/3603433583.html
She might have a KBB of 30K with clean title but that would drop to 20K with a reconstructed title. I think this guy has a case of the wishful thinking, but it gives you and idea what you will be up against.
Last edited by Gorn; 02-12-2013 at 12:15 PM.