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Message
Thinking of buying a salvaged title vehicle
Posted on 6/3/17 at 11:53 am
Posted on 6/3/17 at 11:53 am
So I took a job out of state, live in a neighborhood that has everything I need a block or two away, and a shuttle service directly to work.
I have only driven my new car 3,000 miles in the past 10 months.
While I don't need a car, the idea of not having one bothers me a bit. But I also don't like forking out 600/month on a car I only drive on some weekends.
When I was looking at value, I see these Salvaged title vehicles where the equity I have in my car now could go directly into a salvaged vehicle (50%) and I won't have a note anymore. Also, since I won't drive it often I'm less concerned about it breaking down due to normal use. Every year I have my new car, it will decrease by more than the salvaged vehicle will, so I get to have my car without really paying for it.
Regardless, I think I will be getting rid of my car, and maybe just downgrade the vehicle to a more common car with high miles....has anyone had good/bad experience with salvaged title vehicles?
I have only driven my new car 3,000 miles in the past 10 months.
While I don't need a car, the idea of not having one bothers me a bit. But I also don't like forking out 600/month on a car I only drive on some weekends.
When I was looking at value, I see these Salvaged title vehicles where the equity I have in my car now could go directly into a salvaged vehicle (50%) and I won't have a note anymore. Also, since I won't drive it often I'm less concerned about it breaking down due to normal use. Every year I have my new car, it will decrease by more than the salvaged vehicle will, so I get to have my car without really paying for it.
Regardless, I think I will be getting rid of my car, and maybe just downgrade the vehicle to a more common car with high miles....has anyone had good/bad experience with salvaged title vehicles?
20
Posted on 6/3/17 at 11:56 am to Kujo
As long as you never plan to sell it can be a good value. Stay clear of flood cars
Posted on 6/3/17 at 11:57 am to Kujo
My Wife bought one dirt cheap from a coworker a couple of years ago. Still haven't been able to get a clear title.
Posted on 6/3/17 at 12:00 pm to Kujo
Savaged title means that the car was totaled, meaning the frame was compromised, or insurance defermined it was too costly to fix what was wrong, compared to the value of the car. I would only be comfortable if they could tell (and show) me everything about how/why it was totaled and what was repaired and make a decision from that.
I would be concerned about flood damage and someone having 'patched' the fix and only last temporarily.
I would be concerned about flood damage and someone having 'patched' the fix and only last temporarily.
Posted on 6/3/17 at 12:01 pm to Kujo
You don't want to buy salvaged vehicles or vehicles with a lien. I'd just save up for a better option
Posted on 6/3/17 at 12:06 pm to schwartzy
At some point it has to be worth it.
Say a bluebook 25k car for 15k,10k,5k,or 1k....at what point is "well for that price, I'd risk it"...for a car that from the naked eye looks no different?
Say a bluebook 25k car for 15k,10k,5k,or 1k....at what point is "well for that price, I'd risk it"...for a car that from the naked eye looks no different?
Posted on 6/3/17 at 12:10 pm to Kujo
Honestly I would just buy an inexpensive used car from a reputable dealer. You can find one with high miles for less than 8k. Maybe find an old Accord or something with 120k miles on it.
This post was edited on 6/3/17 at 4:01 pm
Posted on 6/3/17 at 12:16 pm to jdeval1
Was looking at taking a stab at a walkaway car. If it lasts ~4 months, I at worst break even(vs depreciation/payments of current)
Weekend/convertible
2001 BMW 330CI Convertible - $3000
Black 2001 BMW 330CI Convertible with grey leather interior
138k
Auto
Salvage title
Weekend/convertible
2001 BMW 330CI Convertible - $3000
Black 2001 BMW 330CI Convertible with grey leather interior
138k
Auto
Salvage title
Posted on 6/3/17 at 12:19 pm to Kujo
Sounds like if the car lasts one year then it was worth it. That doesn't seem like too much risk to me. I say go for it.
Posted on 6/3/17 at 12:21 pm to Kujo
I've had a few buddies buy rebuilt title vehicles. Way the he'll cheaper. None were flooded. Seem to have no issues.
Find a rebuilt. I would hope they've been inspected before rebuilt title was issued. Make sure your insurance company will insure it
Find a rebuilt. I would hope they've been inspected before rebuilt title was issued. Make sure your insurance company will insure it
Posted on 6/3/17 at 12:28 pm to Kujo
just use a rental when needed
Posted on 6/3/17 at 12:32 pm to Kujo
Not sure where you live but I'm almost certain you could find a 2005-2007 BMW 3 series with around 100k miles for no more than 6,000$ looking on Craigslist. They're all over Dallas for that price.
Posted on 6/3/17 at 12:32 pm to Kujo
You want to find out what happened to it. You could get one that totaled from hail damage and would probably be ok. It will have dents in it, but you wouldn't have to worry as much about the frame or mechanical stuff.
Posted on 6/3/17 at 12:46 pm to Sao
quote:
d a 2005-2007 BMW 3 series with around 100k miles for no more than 6,000$ lookin
good call
7k, 147k, clean title
Posted on 6/3/17 at 12:52 pm to Kujo
Those higher end European cars have a lot higher maintenance and repair costs than most other vehicles. Something to keep in mind.
Posted on 6/3/17 at 12:55 pm to Kujo
No way I'd touch that car. Convertible and salvage title? It will never leave the driveway.
Posted on 6/3/17 at 12:56 pm to saderade
I was just about to say this. BMWs are fairly expensive to maintain and require that a lot of the maintenance be done by a dealer. Also, the wife has had 2 and they've been pretty unreliable.
Posted on 6/3/17 at 12:59 pm to thejudge
Insurance will write a liability policy on one.
Posted on 6/3/17 at 1:39 pm to Kujo
Is USER available there?
If so why incur the expense of owning a vehicle at all?
If so why incur the expense of owning a vehicle at all?
Posted on 6/3/17 at 1:43 pm to Kujo
I've purchased 4-5 different cars over the years, never any frame damaged ones. The cars were great, never a title issue and easy to get insurance. I purchased one that was 9 months old, and offered a new car loan on financing, only had 8500 miles....drove it to 250,000 miles
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