Salvage 1LE

[Hatman]

Help me out here I have a chance to buy a 2015 2015 2 SS with very low mile under 1000 that was a theft. They took the motor & trans,other than that the car looks perfect every thing else there what would a fair price be on this ? Please reply quick as I don't have much time. Looking to buy & flip as a roller.

[Thor142]

You should be able to get that out of it. Does it have recaros and the wheels on it still?

[Hatman]

Sorry it should read under 1000 miles . & yes it does have the original wheels & tires no recaros. I think it may have stolen from the dealer lot.

[hworth18]

A salvage title car would be hard to resell regardless of the circumstances. I would only buy that car if I intended to keep it and not resell it.

[Thor142]

Under $1000 i would have definitely grabbed it and parted out the chassis. You won't get much out of it any other way unless someone want s a rolling chassis for a track build that will never see the street.

[Olddudesrule]

Non-salvage 2015 2SS 1LE would be worth @ $32-35K in like new condition. Depending on who you talk to/what research site you check, salvage/rebuilt titled cars are worth @30%-50% of their normal value. There is no set answer, and the prior poster is correct, trying to sell a salvage is tough. Few will believe it's just a stolen recovery, with no other prior damage. A used engine and trans, if that is all it truly needs to be whole, could be had for $8-$12K, if you do the install. Mileage won't match the odometer, creating another issue for a buyer. That means that even after buying it and spending another $10K+ on it, you'll still be lucky to get $20K+ out of it. There are a good number of non-salvage 1LE's out there, making it even tougher.

I agree this is a potential deal for a buyer who wants a car they can repair and keep for the long haul. Every buyer who has to deal with selling this car in the future will have issues selling it.

[Hatman]

Originally Posted by Thor142

Under $1000 i would have definitely grabbed it and parted out the chassis. You won't get much out of it any other way unless someone want s a rolling chassis for a track build that will never see the street.

Why couldn't a car with a salvage title be on the street again? I'm just trying to grasp the concept of why some people wouldn't think about buying a car with a salvage title & building it up the way they want it vs's buying a clean title car then putting all the mods on it voiding the warranty anyway.

[Thor142]

Originally Posted by Hatman

Why couldn't a car with a salvage title be on the street again? I'm just trying to grasp the concept of why some people wouldn't think about buying a car with a salvage title & building it up the way they want it vs's buying a clean title car then putting all the mods on it voiding the warranty anyway.

Just dealing with a salvage title and in NY anyway getting it re-titled involves state supervision and inspections and red tape. I would never go through that.

[BluePhoenix]

You can't flip it like nothing ever happened to it with it having a Salvage title.

[Ragnar]

I'm curious, why would a car be listed as a salvage title, if the car could be repaired with a motor and trans? If the car is perfect with everything else, '15 year model with under 1000 miles. I have seen cars go thru the auction and listed as an insurance theft recovery, but not a salvage title. The value would still be less. A salvage title to me is if the car was totalled. What kind of a price are they asking for this car?

[Welker2]

Worked for a large tow company for a couple years after retiring from the AF. Bought a couple of 'salvage' titled vehicles during that time for family members; there are some great deals out there. The biggest downside is resale - the salvage title is a killer; since I didn't buy them for resale, not a big deal, but to flip one, it would be a big concern.

There are ways to clear the title of the 'salvage' label, but it takes time & you need to check with your local DMV on how it can be done. Regardless, you can never clear it from Carfax or a good VIN history check.

Good luck

[PalmerGA]

Check your state DMV laws first. You could be in for a major hassle come resale time. Once a salvage... always a salvage, in most states.

[Olddudesrule]

Originally Posted by Ragnar

I'm curious, why would a car be listed as a salvage title, if the car could be repaired with a motor and trans? If the car is perfect with everything else, '15 year model with under 1000 miles. I have seen cars go thru the auction and listed as an insurance theft recovery, but not a salvage title. The value would still be less. A salvage title to me is if the car was totalled. What kind of a price are they asking for this car?

I've dealt with branded titled cars before, and some have been theft recoveries with relatively minor damage. It's all about what the insurance company does, and once the title is "branded" as salvage or rebuilt (depends on the state your in), that's it. As other's have said, they can be real bargains if you're looking for a cheaper alternative, and know what to look (and look out) for....The bitch is always in the resale though.

[Hatman]

Originally Posted by Olddudesrule

I've dealt with branded titled cars before, and some have been theft recoveries with relatively minor damage. It's all about what the insurance company does, and once the title is "branded" as salvage or rebuilt (depends on the state your in), that's it. As other's have said, they can be real bargains if you're looking for a cheaper alternative, and know what to look (and look out) for....The bitch is always in the resale though.

Thanks for the advice olddudesrule. I guess I'll see what happens here with all the modding everyone is doing to these car voiding factory warranty I thought there would be a better response on the matter. I know financing & insurance might be a problem for some with the car having a branded title. Must people forget that if they buy a new car after they buy it a go around the block they just take a huge loss in value also.