buying a salvage
Good Luck
83 Bronco II
87 Bronco II 325k
93 Explorer XLT 150k
2000 Expy Black XLT
Last edited by speedyxlt; Mar 17, 2005 at 07:59 PM.
Up until November I was driving a 1989 GMC Jimmy (Full size)- I was sinking approx $1000 a month into that beast and still had a transfer case pissing blood on the freshly paved driveway.
The only thing I miss about the big Jimmy was the garbage disposal system / urinal - just aim for the floor and it would fall through one of the many holes!
Ford Trucks for Ford Truck Enthusiasts
-Case one - 1991 whatever that has a book value of say 2K gets hit in the fender, and it effects the hood - Guess what, it gets totalled because the estimate to repair is $1,500, and sold off as "Salvage" because the insurance company buys it from the owner (who happened to carry collision for some strange reason!). Car gets branded as salvage, and nowadays, even the body shop owner is not allowed to buy it, unless the original owner buys it from the company...
-Case two - Brand spanking new 2005 BMW 745li is run off the road hard, all kinds of suspension damange, body damage, air bags are deployed, breaking the windshield by design, and the total for repair is estimated at $30K. Approval to start work is authorized by the insurance company. Body shop gets into it, and another $10K is authorized for hidden damage to the suspension, drivetrain, and body damage. Total bill is $40K. Car drives down the road crooked as a result of a bad day by the frame machine operator that was ticked off at his ex wife for taking him to court. Result on the title work:
Absolutely nothing, nada. Oh, and guess what, the police did not show up for the accident because the guy knew a tow operator that got him the heck out of there so he did not get charged with DUI, so guess what - This does not even show up on your Carfax report that you just paid $25 for - It shows an absolutely clean bill of health for the car - what a crock!
Now, which car would you feel safer driving down the road???
- Case #3. Your car gets stolen, taken for a joy ride. Can't find the car, and you settle with your insurance company. You take your check and buy a new car. Yahoo. Guess what, the day after you accepted the check, the police find the car parked somewhere. There is no damage, because it was stolen with the key that you gave to the valet parking guy, and someone stole a bunch of keys from the box... You happen to live in a state that requires (by law) that any stolen car automatically gets a "Salvage Title" associated with it. There is absolutely nothing wrong with the car, but the insurance company now owns it. They are not in the car business, and have to go through the paperwork to sell it at auction, and wait for it to come up. Car is sold at auction as "salvage". Car must be inspected by police to verify that no stolen serial numbers are on it, before the MVA will issue what is now a "Reconstructed" or "Rebuilt" title that will now live with that vehicle forever, until it RIP's with a "Junk Title" 20 years from now...
Again, which of the above would you want??? Many consumers would actually want #2, if they believe all the marketing, media stuff that has been thrown out in the recent years.
Then we go on to Carfax - Guess what, this is a bunch of B S as well. I have specific examples, and am thinking about getting a refund of my money recently spent.
Scott
Fully Loaded - 4X4, AWD, Third Row, Rear Air, Moonroof, Air Suspension, Backup warning system with side airbags, tow package, heated seats, memory seats/mirrors/pedals, new front Goodyear tires, rear tires with 50% tread. Never hit, no stone chips, no scratches through clear coat.
$11,800
What it needed:
-Drivers seat
-Third row seat (it came with one from the factory, it was missing)
-Headliner
-Brakes - Doing a full brake job - new rotors, pads, and one caliper
-One front tire needed 9 oz. to balance! Tire out of round - Goodyear replaced for the cost of a balance and disposal fee (around $22 total) (and I did not buy it new, and they never asked - talk about customer service!)
-Air compressor bracket (cheasy design for the mounts failed)
-General overall fluid changes and spark plugs - had a nice air filter in it already.
How'd I do?
Last edited by racerock; Mar 28, 2005 at 08:13 PM.
Why does it need a new drivers seat and headliner?
Being so new and needing those items...I'd wonder how it was treated/maintained.
Of course whenever we buy used, we never REALLY know what we're getting.
Why does it need a new drivers seat and headliner?
Being so new and needing those items...I'd wonder how it was treated/maintained.
Of course whenever we buy used, we never REALLY know what we're getting.
So, because it was stolen, it received a "Salvage Certificate". It now has a "Reconstructed" Title because of it. Reconstructed because I had to bolt in the drivers seat, drop in the third seat, and replace a headliner!!!!!!!!!!!!! Heck, there are many an Expedition out there that have had $20,000 of work done on them after an accident that have a "Clean" bill of health according to Carfax.
I kept pictures of it with the seats out, etc.
To answer a previous question, the insurance company should not depreciate a vehicle because of a reconstructed title. If they did, you should get depreciation on top of your car getting fixed at a body shop after an accident. I've asked for it before, and they have clearly stated that they fix the car to the same condition as before - yeah, right. See my example above on the BMW...hmmm.....



