Purchase a Salvage Title GT?

[scanr]

What are the cons of purchasing a salvage title car (with the understanding that an intense inspection was done and no latent problems). My situation is that I'm a driver and not a collector. If I plan on driving 7-10k miles per year and keep car for ten years, what is difference? Especially with saving approx $25k upfront? I don't really care about value in 10 years, I want enjoyment of the ride.

Any comments on this rebuilder:
This 2005 Ford Gt comes fully loaded with all 4 options and only 6990 miles! I have installed the rear bumper delete, exhaust tips, tint, and will also install FREE HEFFNER EXHAUST, SUPERCHARGER PULLEY, SCT TUNER, AND FREE SHIPPING TO THE LOWER 48 STATES WITH THE BUY-IT-NOW OPTION!! This car has been involved in a front end collision in which the complete front clip was replaced new from Ford. There was no frame or airbag deployment to this vehicle. I guarantee 100% Satisfaction that this car runs, drives and handles just like new! Just to add the car was a one owner car and was very well taken care of. The car comes with a Fully Transferable Salvage Title. If you have any questions fell free to contact me at 936-414-2295 Andy House or performanceandy@yahoo.com

Performance Auto Sales is the Leader In Sales of Salvage Ford Gt's, over 35 rebuilt and sold !!

 

[Empty Pockets]

My own 'take' on this situation has always been to ask: is the $25K saved up front worth more to you than the peace of mind that comes from buying/driving a "no stories" car - especially if you're going to own/drive/maintain the car for 10 years? Personally, I'd rather have the peace of mind.

Now, if you were going to TRACK the car a lot (or soley) - 'whole different story!!!

In any event, before I put so much as ONE DIME DOWN, I'd have a PPI done by an e-x-p-e-r-t who knows these cars inside & out. Someone like The GT Guys, or Shadowman, or Kendall, or others you can contact here on The 'Forum. 'Could save you a BUNDLE.

 

[Rockstar]

What are the cons of purchasing a salvage title car (with the understanding that an intense inspection was done and no latent problems). My situation is that I'm a driver and not a collector. If I plan on driving 7-10k miles per year and keep car for ten years, what is difference? Especially with saving approx $25k upfront? I don't really care about value in 10 years, I want enjoyment of the ride.

Any comments on this rebuilder:
This 2005 Ford Gt comes fully loaded with all 4 options and only 6990 miles! I have installed the rear bumper delete, exhaust tips, tint, and will also install FREE HEFFNER EXHAUST, SUPERCHARGER PULLEY, SCT TUNER, AND FREE SHIPPING TO THE LOWER 48 STATES WITH THE BUY-IT-NOW OPTION!! This car has been involved in a front end collision in which the complete front clip was replaced new from Ford. There was no frame or airbag deployment to this vehicle. I guarantee 100% Satisfaction that this car runs, drives and handles just like new! Just to add the car was a one owner car and was very well taken care of. The car comes with a Fully Transferable Salvage Title. If you have any questions fell free to contact me at 936-414-2295 Andy House or performanceandy@yahoo.com

Performance Auto Sales is the Leader In Sales of Salvage Ford Gt's, over 35 rebuilt and sold !!

Call me, (ROCKSTAR) Rich Barnes at The Mustang Ranch 303-931-5412. I have done business with Andy and would be more than happy to talk with you.

 

[HHGT]

I would never personally buy a salvage title vehicle. You never know when you may have to unload it and it that is sooner than intended - YOU ARE STUCK.... Also, I do not know of a single insurance company that will bind the vehicle....

I have always said; "The best pillow in the world is made out of your own piece of mind" - and only you can make that decision...

 

[Kayvan]

The saving is actually $10K; there is one for that on Autotrader, non-salvage, 20K mi.

I would second the "what are you going to do with the $10K you save?" I would sell off a lesser car and go with the best you can afford.

We are all drivers here, with a few over 25,000-50,000 miles.

If you want an exotic for the price of a salvage GT, you can easily get a non-salvage Gallarado or F360 < $120K.

I dont think the $10K savings is worth it, and it wont be worth much if you find out at 150-200mph when deformed chassis shake/shudder/scuttle could be deadly. Unless that chassis has been x-rayed, i wouldnt trust it.

Would you fly in salvage plane if tickets were half off?

 

[BlackICE]

I dont think the $10K savings is worth it, and it wont be worth much if you find out at 150-200mph when deformed chassis shake/shudder/scuttle could be deadly. Unless that chassis has been x-rayed, i wouldnt trust it.

Would you fly in salvage plane if tickets were half off?

I agree. If the savings were more and it was to be used only at USA legal highway speeds, then I wouldn't have any problem buying a cheaper savage BEATER FGT. If I was going to track events or the TX mile, I wouldn't trust the car without a very through inspection by a very qualified expert! e.g. the suspension fasteners are speced as one time use. How would you ever know if they were reused? I have worked on cars where the lug nuts were way over torqued and the studs were "fatigued." Not something I would trust my life with. Also resale of a savage title will always be less, so the up front "savings" is not what it seems.

 

[GTViperman]

I would not think about a salvaged GT for $10k difference. If it were closer to $30k maybe. A lot of these Gt's that get salvaged do not have any frame damage. It is just the cost of parts to fix them makes it not worth the insurance companies paying to repair them. If the car had a good photo record showing only cosmetic damage, I would not let the salvage title slow me down. Again,for $10k difference it would not be worth doing. I would buy one that is not damaged for that little bit of difference in money. The point brought up earlier about getting insurance on a salvaged GT would be something I would look into as well.

 

[S592R]

well guys, lets be honest here also. we have all seen "salvage" exotics that had less "damage" to them than would be more than a replacement panel and a paintjob. We have also seen cars that are little more than scrap also.

with that said the first would be a no-brainer at the right price and if it were repaired by someone ANAL like shadowman or the GTguys. If there was a 25K difference between a no visible damage GT and a salvage car done and green lighted by either of those two shops. I'd personally jump on the salvaged car. Looking at used GT's you never really know how hard the car was driven .. about the clutch etc etc etc. unless you pay for a full inspection .. which even then can't find everything that could rack up to 10-15k in repairs.

personally, a salvage car is nothing to run from ... it just depends on the total story... IMHO

 

[Nardo GT]

There is only one thing that keeps anything from selling.....price. That said I would buy a salvage title car and wouldn't be afraid to drive it. I would check with my insurance company to see if they would insure a salvage title car. Also, many lenders shy completely away from salvage cars....so if you don't need to borrow money on it that is fine, but what about when you sell it. Selling a salvage title car is the REAL problem. It is never easy. Three reasons I see 1. Skepticism as to amount/type of damage 2. Finance ability 3. Insurability

Generally speaking on my used car lot I figure a salvage title car regardless of how well repaired or what the damage was at 50%-60% of wholesale. Say a 2005 Corvette worth 20K with a clean title....to me is a $10-12K car wholesale with a salvage title. A GT would definitely have a bearing on the "story" as to type of damage (theft recovery, flood, hail, fire, wreck, vandalism etc). If wrecked it would vary as to the extent....frame damage, airbag deployment etc. But no matter the situation, just the title alone would hurt it 40% in my opinion. 130K car with low miles would be an $80K car to me if salvage titled in the exact same condition....less if it is "edgy", frame damaged or major storied. I always wholesale a salvage titled car regardless of the story, damage or price range of the vehicle because of the liability of retailing it. I try to avoid handling them unless they meet my above terms.
Just my opinions...and you know opinions are like #@$holes.....everybody has one.

 

[scanr]

Salvage Title

Well, I woundn't buy one unless there was a $25k+ savings and I would pay to have a seasoned GT guy perform an inspection.

The insurance angle is definitely something to check out. I appreciate all inputs. Just trying to do my homework on learning the intricacies of joining your esteemed brotherhood. It's either GT or joining the Sons of Anarchy; you guys are a tougher crowd!:cheers

 

[fjpikul]

Hey Nardo, what about stolen cars? You should be an expert now.

 

[ChipBeck]

Bet your life.

Scanr,

These cars often participate in events like the Texas Mile or track days where they achieve speeds that most light aircraft are not capable of. My undamaged GT is inspected annually because I'm betting my life on it. I'm a pilot and I don't fly salvage aircraft (though I'd make an exception for a nicely rebuilt P-51). I would not be comfortable at 200+mph in a salvaged car.

Chip

 

[steved57]

Not considering the money part of the equation I think it all boils down to the quality of restoration of the car. I have a salvage title GT and we (GT GUYS and I) have determined why the car was considered salvage and it is not a
safety related issue. Now that being said I would be very particular about "who" put the car back together. Think about how many race cars "GT 40's" included were crashed hard, put back together properly and race again anfd again. Just my 2 cents

Steve

 

[steved57]

Scanr,

These cars often participate in events like the Texas Mile or track days where they achieve speeds that most light aircraft are not capable of. My undamaged GT is inspected annually because I'm betting my life on it. I'm a pilot and I don't fly salvage aircraft (though I'd make an exception for a nicely rebuilt P-51). I would not be comfortable at 200+mph in a salvaged car.

Chip

Hey Chip
If you were to get that nicely rebuilt P-51 I want to go for a ride !!!

 

[ChipBeck]

GT Guys

Not considering the money part of the equation I think it all boils down to the quality of restoration of the car. I have a salvage title GT and we (GT GUYS and I) have determined why the car was considered salvage and it is not a
safety related issue. Now that being said I would be very particular about "who" put the car back together.

Steve

Steve,

The GT Guys built these cars originally, they are the best in the world when it comes to rebuilding them. Rich is the tech who inspects my GT every year. If HE rebuilt it, it's as good as new and I would drive it anywhere. If I ever hurt my GT it would go straight to Rich.

Chip

 

[steved57]

Hi Chip,
That's why I'm using Rich/Dennis on my car, and remember if you get that
P-51 keep me in mind !!

Steve

 

[AtomicGT]

buy it, drive it, repair it, what is the big deal. As you indicated, "driving it for 10 years", you may make money!

 

[Rockstar]

:biggrin

I would never personally buy a salvage title vehicle. You never know when you may have to unload it and it that is sooner than intended - YOU ARE STUCK.... Also, I do not know of a single insurance company that will bind the vehicle....

I have always said; "The best pillow in the world is made out of your own piece of mind" - and only you can make that decision...

Actualy, there is a company called Grundy World Wide that will insure salvage vehicles. Example: A salvaged GT that has been repaired can be insured for a total loss of $150,000, zero deductable and unlimited miles for about $1,200 a year depending on your driving record. Check it out!:biggrin

 

[thegtguy]

Salvage

Not considering the money part of the equation I think it all boils down to the quality of restoration of the car. I have a salvage title GT and we (GT GUYS and I) have determined why the car was considered salvage and it is not a
safety related issue. Now that being said I would be very particular about "who" put the car back together. Think about how many race cars "GT 40's" included were crashed hard, put back together properly and race again anfd again. Just my 2 cents

Steve

Steve,

The GT Guys built these cars originally, they are the best in the world when it comes to rebuilding them. Rich is the tech who inspects my GT every year. If HE rebuilt it, it's as good as new and I would drive it anywhere. If I ever hurt my GT it would go straight to Rich.

Chip

Thank you Chip and Steve for the kind words.

As many of you know we have done pretty much everything there is to do a Ford GT over the past few years from complete rebuilds, finishing and completing "rescue cars" as I like to call them (from a company not to be named publicly), to major and minor performance mods, maintenance, and the list goes on.

ANYTHING can be repaired but it always comes down to how much do you want to spend. We have seen some pretty bad cars and had to quote them out for the insurance company just so the car can be totalled and the owner on their way to another car or whatever they want. Sometimes we hear from them again and sometimes we don't. The car could be repaired correctly but it would cost more than the car was new.

What scares (actually terrifies) me is the amount of people out there that are working on these cars and don't have a clue. Just had a call the other day: caller "Yeah you got one of those rear cover things", me "You mean a rear fascia", caller "Naw you know the thing that covers the motor", me "You mean a clamshell", caller "Yeah if that's what you call it, you got a used one we could get and how about some used or slightly damaged control arms we could fix up". Yeah I want them to work on my car, NOT.

Sure they will repair/replace the obvious parts that are bent or broke but what about parts that they are too lazy or cheap to look for. Like the knuckle that was cracked and they only put a control arm on it because that was the bent part. Seen one of those and notified the owner. Or maybe the car has a slight grinding noise now and the shop only put on a control arm and a wheel because that was bent and broke. When they should have put a new wheel bearing, knuckle, toe link and other control arm. If the corner is hit that hard then change the entire corner. You have to be safe and assume that every car will go 205mph if not more, not that it will but because it can.

Now back to the salvage title cars. If the price is right then it could be worth it but make sure the homework is done ahead of time. Everyone has their own "endgame" on what they want to do with a car, track car, show car, investment, flavor of the month, whatever. Just make sure you know what you are getting into before its too late.

The ones that we have done we showed the new owner pictures before we even start on the car so they can see how bad it was and as long as its repaired correctly (which we do to the best of our abilities) it will as good as if not better than new.

Just my .02 cents.

Merry Christmas and Happy New Year

 

[KJD]

Great post Rich!

And what Chip said and what Dave has always said. Unless it's something simple and stupid that I can (barely) do, no one works on my GT other than Rich and Denis. Period.

Happy Holidays to all!