Buying a repaired salvage vehicle

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.

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.

Just have an educated eye check the collision repair. If its done properly, there is no downside.

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.

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.

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.

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.

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.

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.

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.

Depends on state, really...

My MX6 has a rebuilt title, no issues at all getting insurance, and it drives perfectly.

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.

ewwwwwwwww

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.

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.

integraguy wrote: 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.

Not to threadjack, but I don't really follow the progression from Monte Carlo to Sebring unless the Sebring was the only car for sale in the county.

That'd be like saying "I was looking for the ultimate cheeseburger, but couldn't find it so I settled for chocolate covered pizza on a stick."

The good thing about a salvage repair is that it probably doesn't have any weird quirks, wear, or skeletons in the closet.

It was likely running just fine when it was hit, and the owner evidenced his confidence in the vehicle by investing the money to fix it.

The only down side is the resale, and you are prepared for that. I say go for it.

Tape measure can work just as good, as well as a sharp eye.

The only way I can see a Monte of that caliber to be totaled is either based the value on the v6 model or the collection of damaged dealer-only parts really pushed the value higher. Those come with easily damaged control arms and aluminum subframes. Not to mention it could have a dealer only bumper cover that costs a grand unpainted. Or it got ttotaled from the typical "untrained" adjuster.

I know at least two people who have made reasonable amounts of money by lightly damaging inexpensive insured salvage cars. The insurance payout in both cases was more than needed to repair the car and they bought the car back with a salvage title. Which it already had, of course. End result: same car, a few thousand bucks in hand.

My M5 is a salvage car. It was worth a lot of money at the time so it was repaired well with expensive new factory parts. My insurer doesn't like salvage cars though. Of course, they're also not big fans of M5s in general.

I would do it. As others ahve stated just make a call to your agent first.

I wouldn't have any problem buying a salvage car under a few conditions. 1) I can buy it with cash on hand 2) it doesn't look like its a salvage car 3) It can be insured. (If its a older car basic liability is ok) 4) There is documentation about what was broken and how it was repaired 5) most importantly I would want to have a skilled body repair guy check the work. Even though I'm a decent wrench I know very little about body repair, I'd be willing to pay for an expert second opinion.

BTW. I have gone through the process of getting a rebuilt title for a salvage vehicle, but it wasn't extensively damaged and it wasn't a unibody type car. It was a theft recovery truck, with mostly bolt on repairs needed.

Just remember, when time comes for you to sell it, people will just about expect you to pay THEM to take it off your hands...

that depends. if you've been driving it for five years and the fresh paint has held up well and the tires are worn evenly, that will speak volumes about the build .

aggravator wrote: One car was "totaled" FOUR times, each time being bought back for scap value, rebuilt, state inspected, licensed and insured. without any hassles.

geezus, that car musta had the 'crosshairs of doom' painted on it... like a berkeleying moving target