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Login to post Forums » Grassroots Motorsports » Buying a repaired salvage vehicle

Sept. 15, 2011 9:50 p.m. doc_speeder Reader

I'm looking at a car that was written off by the insurance company. The current owner bought it a year ago and fixed it and got it back on the road. He's got full documentation of the damage (nothing structural, just fairly heavy cosmetic to the front drivers corner) and full documents from the inspection and re-certification. Here's the good part. Similar examples of this car are listed for $16-$20k locally. I think I can get this one for under $8500.

I'm going to go look at it in person on Saturday. If everything checks out, is there any reason I should run away? Of course, it's got a "repaired" tag on the registration permanently, but I would plan on keeping it fairly long term so resale value is not really an issue for me.

If it makes any difference, it's a 2007 Monte Carlo SS with the LS4...MMMMM LS4...

I've been looking for a nice commuter for my highway commute to work and for the odd road trip. I've always liked the 2006 and up re-styled Montes.
Sept. 15, 2011 10:33 p.m. carguy123 SuperDork

Insurance can be impossible to get. Check that first.

It sounds as if you've got the price differential you need to make up for the salvage title.
Sept. 15, 2011 11:15 p.m. Streetwiseguy Dork

Just have an educated eye check the collision repair. If its done properly, there is no downside.
Sept. 16, 2011 12:04 a.m. aggravator New Reader

I've owned 3 salvage titled vehicles and never had a problem insuring them. If the state certifies it a safe to drive on the road why wouldn't they insure it?

One car was "totaled" FOUR times, each time being bought back for scap value, rebuilt, state inspected, licensed and insured. without any hassles.
Sept. 16, 2011 5:22 a.m. ddavidv SuperDork

The only real downside is that you'll be paying rates to insure a 'normal' car, but should it get totaled again, you'll only get paid what it's worth with a salvage title. However, if you can buy it for around 50% of normal car value, then it doesn't matter. It's the people who pay near normal retail for one that are idiots.
Sept. 16, 2011 6:34 a.m. Klayfish HalfDork

Check with your insurance company, as they'll vary in what they'll insure or not. A lot of them will insure it for liability, but won't give you collision coverage. Or if they do, like others said, you'll get a lot less if it were totalled again.

And look it over real carefully. Insurance companies won't total an '07 Monte Carlo SS for just cosmetic damage. There was definitely unibody damage, and I'd bet it was significant. Not a problem if fixed right, but just be sure it was.
Sept. 16, 2011 7:18 a.m. pete240z SuperDork

Remember if you try to sell it sooner than later you have to deal with buyers asking you about the salvage title. They will want to also know what was damaged and fixed.

If you keep it until it is 20+ years old it won't matter.
Sept. 16, 2011 8:27 a.m. AngryCorvair SuperDork

ddavidv wrote:

The only real downside is that you'll be paying rates to insure a 'normal' car, but should it get totaled again, you'll only get paid what it's worth with a salvage title. However, if you can buy it for around 50% of normal car value, then it doesn't matter. It's the people who pay near normal retail for one that are idiots.

in case you don't know, ddavidv is an auto insurance insider. there is iron in his words.
Sept. 16, 2011 8:28 a.m. 81cpcamaro New Reader

Since it is fully documented, you shouldn't have any issues. Even reselling shouldn't be an issue, you won't get as much as a car that wasn't salvaged but you will be paying less for it up front so it equals out. As long as it drives fine, go for it. I personally have no problems with salvage or rebuilt title cars from state that require certification or proof of the repairs.
Sept. 16, 2011 11:42 a.m. hobiercr Reader

Even though it is fully documented I would have the car put on a rack to make sure the frame is straight. Ask me how I know...

My 88 FC vert is a rebuilt and it was a beautiful looking and driving vehicle when I bought it. When one of the front tires started wearing funny I has a shop check the alignment. They didn't have enough adjustment to correct the fact that the frame was not true. A lot of $$ later and it was fixed but not fun to deal with.
Sept. 16, 2011 11:47 a.m. 92CelicaHalfTrac SuperDork

Depends on state, really...

My MX6 has a rebuilt title, no issues at all getting insurance, and it drives perfectly.
Sept. 16, 2011 11:54 a.m. integraguy SuperDork

These are nice cars, and decently built, but I have yet to see one for $16K to $20K. In my area (Northern Florida) there aren't a lot of these Montes with the V8, and I guess the ones I see might have higer than "normal" mileage, but I have yet to see one on sale for $16K.

My sister wanted a newish Monte when she replaced her last car (an early '90s Buick Regal coupe), as she has been a staunch Chevy fan for most of her driving life. She has a '70 Malibu that gets the only available space in her garage and was looking for months for a Monte she could afford. She finally settled for a Sebring.
Sept. 16, 2011 6:19 p.m. belteshazzar SuperDork

ewwwwwwwww
Sept. 16, 2011 9:01 p.m. ddavidv SuperDork

hobiercr wrote:

Even though it is fully documented I would have the car put on a rack to make sure the frame is straight.
Actually, you can have it measured in a few areas with tram gauges for not much money. No need to tie it down to the rack or use fancy laser gauges. I use simple tram gauges all the time and they are pretty idiot proof.
Sept. 16, 2011 10:09 p.m. doc_speeder Reader

integraguy wrote:

These are nice cars, and decently built, but I have yet to see one for $16K to $20K.

Think way WAY north. Like Canada north... Prices are skewed higher here.

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