Salvage Title Vipers

[chickenwarrior]

I realize I might be inviting a fury of flames by stating this, but what's the deal with Salvage Title Vipers??? Everyone knows there are tons of them out there and it doesn't take much for an insurance company to total one, yet they are avoided like the plague!!!! Being an owner of one, I know what it takes to fix (time and money) one these! Of course they are not going to hold their resale value like a Garage Queen, but I constantly get emails to buy with ridiculous offers explaining how "Salvage Title Vipers are only worth about half Book Value". While I'll disagree with that, it's true I don't see many selling or even getting bids on Ebay. I realize that I have the advantage of fixing it myself so I know it was done right, and know all damage, but I see so many posts advising people to stay away from them. For many people looking for their first Viper it can be a much cheaper alternative. Really, I'm just asking here... Are there really that many Viper Lemons out there, or are there just many more Shady Lemon Dealers trying to concel something about their "Cream Puff"?? Most complaints seem to be disapointment from claims made about "No Disapointment" rides. If I know the actual history, I can make a decision as to whether or not I can live with the damage in order to save some money.

The truth is when it's all said and done...I'm driving a Viper!!! Not sad replica, (Did you see the one on Ebay?) I get all the fun, all the looks, and all the performance, and no ones knows about the title but me...uh, and well you. I guess my advice would be to prospective Viper owners with a limited budget - don't rule a wreck out! (Saying that, be very aware of what you may spend to fix a wreck that is still a wreck) Do your homework, carfax, call previous owners, and certainly have a VCA member check it out if you can, but you might find yourself with all the smiles without the expense. Ok, now I'll open myself for attack...what do you all think????

My "wreck"

CW

 

[Craig 201 MPH]

To me it depends on what was damaged, who repaired it etc... I would have no problem buying one as re-sale value is a moot point because I'd probably never sell it anyway.

It's an advantage for buyers with not a ton of cash to get into one, the right way to buy one is definately one that's been repaired and documented.

Your car looks great.

Craig

 

[Tiepilot]

As long as the car is straight (frame wise) and completely checked out by a reputable firm the stigma attached is the title itself, which may prove the car difficult to resell at a later date. Other than that the buyer better know repair and parts prices. I considered a salvage car but the repair costs plus the purchase price was to close to buying a clean car.

 

[NCVCA]

A salvage titled car is actually preferred for a foundation to build a track car. Least expensive way to go as long as your choosy about what type of damage the car sustained.

 

[dansauto]

I rebuild wrecks and unfortunately guys like JonB drive the price of parts up so much that the cars are worth more parted out then to repair. Mine was also a salvage car and I did the work so I know its right. My rule of thumb on salvage cars is that they are worth about wholesale (20-25% off retail) when done. The trick is finding the parts cheap and saving labor by doing it yourself. Used Viper parts are like gold, so nothing is cheap. Therefore the only way to save is by doing the work yourself. Most people lack the skills and necessary equipment to do the work correctly. Vipers are also prone to frame damage in front end collisions. Not too many shade tree mechanics have $20000 frame machines and measuring devices to accurately repair.

 

[ewave]

The fact is that it takes a very competent mechanic to do quality repair to a damaged Viper. There are very few mechanics like this. We hear the horror stores about simple repairs being botched on cars.

I'm sure there are some salvage Vipers that have been repaired very well. There are also quite a few out there that were poorly repaired. It is VERY hard looking at a repaired car to know how much care and detail really went into the repairs. As such, a Salvage Viper is high risk. Find one that has been repaired well, and it's an awesome deal.... Buy one that was poorly repaired, and it will be a nightmare.

The car I restored had very minor damage. It doesn't have a salvage title. Even so, I spent over $18K repairing the car, most of the labor was mine, AND I spent months looking for really good deals on used parts. BTW, anyone looking for a almost perfect Silver GTS Hood? I've got one for $6500. Check the classified.

 

[Bill Pemberton Woodhouse]

With many specialty cars the value is based on being fairly pristine. A normal car with a Salvage Title is often viewed as worth about 1/2 as one with a
clean title. This is the reason some folks go to extremes ( illegally ) to get titles washed, as it can mean a ton of money on an exotic. The two main
concerns with Salvage Titles are:
1. Few banks will finance a salvage title.
2. No company will sell an extended warranty on a salvage titled car.

Overall the assessment that they are great for track cars, I concur with, but one must go in with both eyes open, as those looking for an inexpensive
Snake need to know the finance and warranty issues. Lastly , once repaired, some insurance companies will still only covered with a diminished value
basis.

 

[ceieio]

I rebuild wrecks and unfortunately guys like JonB drive the price of parts up so much that the cars are worth more parted out then to repair.

Wow! That's a lot of market power for one man! He is more impressive than I thought.

 

[RickL]

For the right price I'd buy one. There was a 2002 RT/10 with 2800 miles that sold on eBay with a Salvage Title for $43,000. There were pics of the damage and it was very minimal. One reason it may be hard to sell them besides that fact that it has a salvage title is the that you can't get a loan for a salvage title car and there is no warranty. I don't know for a fact that you can't get a loan in other states but know that you cannot in Michigan.

Sorry about saying pretty much the same thing as Bill Pemberton, I didn't read all the replies before I posted. Oh and BTW your car looks GREAT!

-Rick

 

[Bonkers]

1. Few banks will finance a salvage title.
2. No company will sell an extended warranty on a salvage titled car.

There is a third issue to with "investment-minded" buyers. The insurance on a Salvage Viper runs the same as a clean one, but if its wrecked or stolen the insurance company will not give you full KB value (or whatver book they follow.)

I see wrecked Vipers as diamonds in the rough for those planning to keep them forever (like mine,) but most viper owners aren't planning on keeping them for more than they would a typical car. To them resale is a BIG issue...