Mehrlovin

Hi All - I came across a relatively nice C7 that got totaled by USAAA for whatever reason. The car had damage to the driver's side door jab where ironically my C7 was damaged by a jack. I think the car is recoverable, especially having had the same issue on mine, but I don't know what affect the salvage title has on resale. Are we talking about a 50% drop in resale value or like 25-30? Seems like a great deal otherwise but it would be around 60k fair market value for a 2018 GS, this one should go for around 30K plus 7k in repairs. Opinions welcome.

Vetteman Jack

IMO, minimum of 35% reduction in value, but probably more. At least that is what I would look for with a salvage car.

Jmhornz71

Check with a your bank if they will finance it if needed and insurance if they will insure it

c6txvette

I buy and sell several salvage higher end cars (more than a few C7’s). Typical rule of thumb is 30% under retail if it’s in very good- excellent condition with decent miles. I have a fair offer on my C7Z as we speak which is 7k under retail but mine has a lot of go fast goodies. To me personally you can’t go wrong if it was properly repaired and the seller is up front and have pics of prior damage etc.

Avanti

Real pricing always depends on the potential buyer... as for me, I'd simply find another and walk the other way. Too many possible unseen issues, and way too many available to bet on a wonky, no matter how cheap. Also, every state is different on titling/registering such.

gliot1

Unless you plan on keeping it a long time, I wouldnt do it. I dont think the savings offsets the value. My neighbor bought a salvage title Vette and when he wanted to sell it, he couldnt. It scared every buyer. So then he figured he would trade it. No dealer would take it. As I said if the intent is long term owning or tracking it may be OK, but if you think you can make money on it...........

c6txvette

I have zero problems selling any of my rebuilt salvage title cars. All of mine carry full coverage and imho the savings are totally worth it. My 18 Zl1 is a r-title and I have maybe 25k in it total. I could easily sell it for 38-42k and I would not wait that long. I’m working on a 17 Z06/Z07 and it’s not even finished and I have it sold (deposit received) for 55k. Yes they go for 30% cheaper but for me personally I would not do it any different. Btw I have a grand Cherokee trackhawk as well that is in the works of being rebuilt, I am gunna keep it for me for a while but have ppl offering me decent $ on it already.

Salvage titles (rebuilt salvage) means nothing. You drive the car not the title. If they are repaired properly there is absolutely nothing to be worried about.

gliot1

Cool, good for you...glad it works for you. In IL it means it was totaled....typically better than 60% of value in damages. As I said, if you plan on keeping it long term, maybe. Here, no car dealer will touch these cars which freaks most buyers as well. Yes there may be some folks who will roll the dice. The titles of these cars are stamped, large in red "SALVAGED". My neighbor said anyone who saw that freaked, and was selling at 50% of current value. I know if I saw that title I would pass as well. Too many what ifs.
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c6txvette

all salvaged vehicles were considered a total loss by an insurance company and stamped salvage. Once repaired and inspected by state they are then considered (stamped) rebuilt or prior salvage. I doubt anybody would buy a salvage title car vs a rebuilt title. I have never sold under 30% of current value. Tbh my z in my signature is pending as we speak for 45k (rebuilt salvage). It’s nothing I’m talking ppl into buying but I will say in the past 6 years more and more people are more open minded on rebuilt title cars. I’m at the point now where I do this as my source of income because it’s so easy to sell them. Before it was more of a challenge but it’s definitely easier now especially with higher end cars, and yes they do take a little longer to sell vs a clean title but not to the point where it’s months longer (maybe weeks). It works for some but not for most.

TXshaggy

Dude, your experience of buying totaled cars and rebuilding them for a profit does not translate to the OPs question or the buying public.

Yes, people buy, rebuild, and make money on salvaged cars. However, typical buyers walk...the target if these transactions are folks stretching into what they otherwise can’t afford.

c6txvette

actually what I was referring to was that there are quite a bit of people (maybe not most) that DO buy rebuilt salvage cars (to answer the op’s question). Your comment was 100% unnecessary sir

Red86Cfour

I bought, and later sold, my salvage 99 C5. I had it for about five years, no problems, and later sold it to get a c6. It was a California car, not garaged, in fairly decent condition. Sold through the corvette forum to a guy on the east coast. Just sent him pictures, was totally honest in what had happened to the car. Done deal. I never heard a word when it was received off the transport truck from the buyer.

If you're gonna keep it for a while, or more long term I think it means less if its a salvage title vs. normal. If its gonna be a fix and flip, best do your homework but I don't think its a big deal if you get it for a decent price and know what you will need to put into it to get it and then make sure there is room for profit on the sale.

ED HEISER

I'm the Dude, You're Mr. Lebowski!
I follow a lot of Youtubers that fix salvage cars, and it totally depends on who rebuilt it, what the original damage was and the price!
That said, I just skip over ads for salvage cars myself as it's just not worth the savings to me.
But for those looking for a cheaper way, with photos and receipts for new parts and confidence in the builder, it's another way to buy.
I worked for a body shop years ago, so I know the right and wrong way to repair cars, so I'd be quite wary is my advise. Many things only become apparent after the fact.
But there is a market for these cars.

Mehrlovin

So that's the thing bothers me. I am seeing these insurance "totaled" cars on C7's and its like are you kidding me? All they need is like 3 panels. My non-salvaged C7 fell on a jackstand but it was like 6K and then back on the road. These guys are totaling them for less damage which just astounds me.

To clarify, I'm not flipping. I'm just like wow I could get a c6 or c7 salvage on the side in Auto that was "salvaged" but not really that damaged. And this time I can get an auto!

vanc7z

Every single ad selling a rebuilt car has the words “minor damage”. ******* scammers. Totally makes sense as to why an insurance company would total a vehicle because of a bent fender on a $100k car. I’d never touch one.

c6txvette

So you are pretty much calling me a scammer right as I buy and sell salvaged higher end cars? You have absolutely no clue what is major and/or minor damage. I’ve bought cars that had a simple engine wiring fire and was salvaged although the fix was under 2500.00, I’ve bought cars that were relatively perfect with blown airbags and a barely bent bumper cover that were salvaged (1500 fix), another one was a C6 that slid off the road and needed only glass, a top, a head light, and paint job (not hardly a totaled car) but was salvaged. I could go on and on. I have also bought and sold heavily damaged cars as well and YES I disclose that they sustained significant damage.

Just say you don’t want a salvage title car and leave it at that, don’t generalize everyone based on your assumptions. Thanks to ppl like you I’m able to buy and drive several badass trucks/cars/suv’s then sell for a nice profit (clean titles keep the value high and I reduce mine 20-30%) and I never keep them long.

whatyacallit

I'm currently rebuilding a 2015 Z06 3LZ with Z07 pkg 7spd. (Pic in sig). I agree with c6txvette 20-30% off current retail seems about right. I don't think I'd consider selling for less than 75% clean title value. Supply and demand as they say but like someone already said you don't drive the title.

Ken_4fun

I looked on ebay and they had a couple salvage rebuilt title cars and the prices were damn cheap.

Years ago I looked into buying a salvage title pickup and I couldn't get a loan, and my insurance wouldn't cover it. My wife and I are perfect for salvage title vehicles because we usually buy them and keep them at least 10 years. I say that, and we have never owned a salvage/rebuilt title vehicle.

It's not that we have bad advice, we just have so much of it.....

Posters here have given some good advice, IMO. I wish you the best.

Ken

65fastback

just wanna say.....your sig picture is awsome! i vote dont change it once your done fixing it.


everyone is looking for a "good deal" people talk about it here every day ....salvage - rebuild cars are a great way to get alot of car for not alot of money. If you a smart buyer with some mechanical knowledge and ability i think the idea of buying a branded title car is alot less scary.

Its a pretty small pool of buyer's but i get it and see how it can be a profitable business.

Silverboost

Just for reference. I purchased a 14 ctsv with realitivly low miles with a salvage title for my wife. I paid about 30 to 35% less than retail. I had no problem financing it or insuring it. Supposedly it was on a dealer lot in the midwest that was flooded and all cars that touched water were totaled. I put the car on a lift and could not find one component that had been replaced underneath or under the hood. I also removed the molding inside the car and trunk and pulled backed the carpet and found 0 evidence anywhere the car was standing in water or that water was ever in the car. Three years later not one issue not even a check engine light has ever come on.
My point is not all salvage cars are junk or were even severly damaged. Or that you can't finance or insure them. Honestly for the value it has been one of my better purchases. I would not buy one sight unseen but if evaluated properly can be a great value.