1996 GTS Salavaged Title Value

[RoadKing]

Looked at a 1996 Blue/White GTS w/9,800 miles. It been wrecked in the rear quarter panel, but professionally fixed. No frame damage. Drove great and looked great, but has a salvage title. What would be a "good deal" on this car? I'm guessing low-mid 30's, but need suggestions.

Thanks

 

[Tiepilot]

Why the salvage title for crunched quarter? Isn't a salvage title only issued if a repair bill exceeds the cars worth?

If you buy this car it will be HARD for you to sell in the future, I'd never buy a salvage title car. There is no good deal on a salvage title car IMHO. Full damage history and documentation of damages incurred is what I'd want to see.

 

[SNKEBIT]

damage only has to be like 60% of the value of the car, maybe a little more, I'm not sure. Have the car professionaly checked, if it's alright, a really good deal for a hot-rod. That is if you don't plan on makin' any money off it in the future.
Drive it for a few years and give it to the offspring,,,,,, they won't care if it's salvaged title or not!!!!!

 

[Doug Supercharged Vipers]

Buyer Beware!
Considering most banks won't touch a salvaged title and many people steer far away from rebuilt vehicles, they still CAN be acceptable; the price would have to be indicative of the status of the vehicles "title" not necessarily limited to it's overall condition. The title is already a deprecative asset so the vehicle itself would have to be depreciated by (my personal guesstimate) 20 - 50 percent right off the top of fair market value.

More than likely the vehicle would have to be purchased by a "cash" transaction and should you ever decide to resell, the same would apply for your prospective buyer.

Regards,
Doug

 

[Yellow Fever]

Buyer Beware!
Considering most banks won't touch a salvaged title and many people steer far away from rebuilt vehicles, they still CAN be acceptable; the price would have to be indicative of the status of the vehicles "title" not necessarily limited to it's overall condition. The title is already a deprecative asset so the vehicle itself would have to be depreciated by (my personal guesstimate) 20 - 50 percent right off the top of fair market value.

More than likely the vehicle would have to be purchased by a "cash" transaction and should you ever decide to resell, the same would apply for your prospective buyer.

Regards,
Doug

Doug hit the nail on the head !
I suggest that you stay clear of a salvaged title..I've got a buddy trying to sell his low mileage Salvaged C500 $15K below Blue book and he hasn't even received an offer.

Salvaged titles are taboo when it comes to reselling .

Good Luck !

Jeff

 

[BADVENOM]

Unless you get this car for a song and a dance stay clear.... Find yourself a well maintained one instead. You won't be sorry..

 

[RoadKing]

I agree that resale would not be good. But if I could buy it for a "song" what would that song be?

 

[BADVENOM]

How about BacknBlack from AC/DC..no more than 25K.....

 

[BIGBADCJ]

ill buy one, if anyone has one. i want one to put mods on

 

[Triple7]

It could make a good track car!

 

[joe117]

Do you think it could be bought for low 30s? I'd say it's worth that much. If it drives and look's good, I really don't think you could buy it for that.

 

[Yellow Fever]

A dealer once told the standard rule of thumb for salvaged titled automobiles is 50% of Kelly Blue Book.

 

[RoadKing]

Looks like the guy wants $37,500 but I'm still negotiating. Thanks for the help, I'll keep you posted on the price.

 

[FranciscoR.]

for that much forget this guy and get a really nice 94 or even a 95 or realy low 96. Hey, if some guy on here can get a good condition 94 or so for 25g, don't waste anywhere above VERY LOW , like 31 or 32 max for this car. And that's only if you're insanely desperate...Just IMHO

p.s. If he doesn't go right down to 30-32, walk away, and watch him chase you, then go even lower....lol

 

[MaxedGTS]

Looks like the guy wants $37,500 but I'm still negotiating. Thanks for the help, I'll keep you posted on the price.

30 or 32K at most
You could find a higher mileage 96 Coupe for 'around' $37,500
Max

 

[picflight]

Salvage is no problem if you can check it out and make sure that the repairs are done properly. But because these cars run at such extreme limits any imperfection will be magnified and you MIGHT feel the dis-balance when you are pushing the limits.

In todays market, I would say pay no more than 25K and you have a car that is worth what you paid for.

 

[Snakester]

I've bought and sold several salvage-titled cars before and it's not really such a headache.
It's just that you have to get the car for a good deal (2/3rds or better than normal price) to justify the purchase, future depreciation.
It's the same buying very high mileage cars too.

If you could pick up the car for $30K, and it's in great shape, then it sounds like a good deal.

Just be willing to walk away if he is not willing to meet your price. And remember there's always another good deal coming along, if you look out for them.

-Dean.

 

[plumcrazy]

$37,500 is crazy, id offer 30K an no more. Id buy a salvage but not at his price.

 

[garolittle]

Offer $28,000 and go as high as $30,000. Let us know what happens.

 

[kevin k]

I would walk away,he has got to be high on more than price.

 

[joe117]

What would a good looking, good driving, 96 blue and white with 9800 miles, go for if it wasn't salvage?

I just don't see this car selling for much less than mid 30s.

If it look's great and drives great, someone will see it on the lot and buy it for near what the guy is asking.

There is no way the car is only worth $25k. Not a blue and white GTS that look's and drives great.

 

[FranciscoR.]

Exactly...theres a reason why good conditions 96s dont go for under 35 - 36 if that low.

 

[BigCarrot]

First of all fellas, Kelley Blue Book is worthless. Generally they are WAAAY off. That said, I think this car should be priced in the $25-30k range.

 

[SNKEBIT]

First of all fellas, Kelley Blue Book is worthless. Generally they are WAAAY off. That said, I think this car should be priced in the $25-30k range.

I agree, I don't know where they get there values from but they aren't even close to the real world. NADA is alot closer and been in the biz for years, rather trust them. 30K is a nice round number.

p.s. i think kelly is smokin somethin

 

[BigCarrot]

Ouch, Nada is further off than Kelley! NADA's trade in is usually just about what we retail cars for. Black book is the most accurate, but even BB is just a guide.

 

[Gerald Levin]

What would a good looking, good driving, 96 blue and white with 9800 miles, go for if it wasn't salvage?

Here's a 96 GTS that just sold on ebay (buy it now) that had 8k mi and sold for $46,500.
http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&rd=1&category=6209&item=2444305950
I personally think $30k is about right. Any more than that, its better to get one with a good title and more miles. JMHO.

 

[Bonkers]

I'm a true believer in the "if it makes you happy - but it" philosphy. For a low mile rebuilt 96 $37k isn't too far off the map (don flamesuit.) If **you** think the repairs were done well and the car looks stunning then its really more of an issue of how much would you be willing to pay. Personally I think your estimate of $30-35k is fair, but I would have that car combed over with a magifing glass and at least two professional opinions before handing over a check.

If the guy wants $37k he may let it go for $25k, but it'll be a LONG while before that happens and there will be many idiots in line during that time.