Value of salvage titled vs. no issues cars

[SAcobra427]

I was wondering what the general thought is in the loss of value on a salvage titled car compared to one that is not, all things being equal. For example if you had 2 identical cars sitting next to one another, both in perfect shape with say 4,000 miles, how much less would the perfectly repaired car go for ?
Thanks for your thoughts

 

[ViperJoe]

I believe they run in the neighborhood of ~ 1/3 less. But for me, I wouldn't buy one even if it were selling for 2/3 less. That's just me .....

 

[shelbyelite]

Well, If we were going on a perfect shape, 4 option, 4k mile TUNGSTEN for example, I would say the no stories car is worth $170k to $175k and the salvage title car is worth $110k to $120k retail.

 

[Kayvan]

Its not that clear cut

There are a number of folks who are hacks at salvage GTs and 1-2 that can make them perfect.

also, title washing and cars being imported overseas where a DMV Salvage equivalency is not maintained, make it very murky

I would not travel over 100mph in any vehicle where the core frame has been compromised; unforseen stress factures only detectable with xrays or harmonic imbalances tramsmitted to wheels or steering will flip the car in a blink.

I would avoid Salvage as the discount you get will just get wider as time goes on.

 

[GTNJ]

Well, If we were going on a perfect shape, 4 option, 4k mile TUNGSTEN for example, I would say the no stories car is worth $170k to $175k and the salvage title car is worth $110k to $120k retail.

Ahhhhhh, Shelby ........... but what would you pay for a perfect shape, 4 option, no stories car?

Nardo ????????

 

[SAcobra427]

Thanks for the replys. Your thoughts are what I was thinking myself.

 

[shelbyelite]

My opinion....which opinions are just like buttholes...everybody has one......$50-80K for a wrecked car.....50-60 with salvage title and a pretty good amount of damage but not completely smashed....80K for a very light damage car. 100K-110K for a PROPERLY repaired salvage title car and 160K for a 4K miles "perfect, no stories" (no such thing) car. These are RETAIL figures.
I don't like salvage title cars and do not handle them. Too much liability after they are repaired and more difficult to sell. You can have a buyer sign 100 documents that it has been repaired, they have had a PPI done, they are buying as-is and a cheap lawyer can still come after the seller when the wheel falls off. Not my bag. A lot of banks won't finance a salvage title car either.

Maybe not in your world Nardo, but there are definitely many "NO STORIES, PERFECT HISTORY" cars out there. You have made that remark several times. We all know that "YOU" believe there are no perfect cars out there, but in many peoples opinions there are. The word "PERFECT" is gonna have a different definition depending on who is using the word, and what context they are using the word in. Also, you have your "RETAIL" figures wrong. I am speaking from hard facts that I have proof of selling cars for. You are speaking from low ball prices that you would offer people as you and I both know that you offer salvage car prices on clean no stories cars.

As for Salvage cars, I do agree with you Nardo that they are not worth the savings, IMHO, MOST of the time. The rare instances where a car is totalled, that should not have been as it was damaged lightly, is a complete different issue all together.

FYI, just sold a 3600 mile tungsten "NO STORIES, PERFECT" car for $172k, REAL MONEY, NO BS, This week. This is a real time figure.

So, theres my "butthole" !

 

[Mullet]

if you can afford a salvage car you can afford a no story car.

 

[shelbyelite]

if you can afford a salvage car you can afford a no story car.

:thumbsup:thumbsup:thumbsup

 

[05 Ford GT]

Shelby is spot on!

Mike

 

[GTdrummer]

Agree with part of Nardo response but not the 4000 mile $160,000 for a no stories GT. I have bought 3 in the last year and I would have jumped at $160k and would encourage others to do the same.

As a point of reference I understand you and GTJoey just recently bought an 05 together with similar mileage--would be interested if you hit or beat $160K but none of my business.

 

[shelbyelite]

Agree with part of Nardo response but not the 4000 mile $160,000 for a no stories GT. I have bought 3 in the last year and I would have jumped at $160k and would encourage others to do the same.

As a point of reference I understand you and GTJoey just recently bought an 05 together with similar mileage--would be interested if you hit or beat $160K but none of my business.

I believe Chris (Nardo) purchased that car back in 09 if my memory serves me correctly, so that would not be a fair assumption of what "TODAYS" prices are on these cars. Further, from what chris told me in the past, there was an issue with the stripes on that car not being factory, etc. I believe Chris did get a pretty cheap price on that car from what I remember him telling me, but will let him answer that question.....

 

[GTdrummer]

I believe Chris (Nardo) purchased that car back in 09 if my memory serves me correctly, so that would not be a fair assumption of what "TODAYS" prices are on these cars. Further, from what chris told me in the past, there was an issue with the stripes on that car not being factory, etc. I believe Chris did get a pretty cheap price on that car from what I remember him telling me, but will let him answer that question.....

Oops--my bad I guess I did not read all of the thread. I just recall where Joey said they had just gotten the car and Nardo later mentioning a "maiden voyage."

 

[HHGT]

Someone find me a properly repaired lightly hit Salvaged title ENZO at a steal and I will buy it.
Why? They are not making them anymore and I would never sell it.

I also would buy a properly repaired GT that is a Salvage title.
Why? Because I would track it and never sell it.

Who would not buy a salvaged properly repaired Ferrari GTO for cheap money?

 

[Nardo GT]

There was an all black GT in Connecticut posted right here on the forum that I was trying to buy but got sidetracked by GTJoey's barn gathering in Sep of last year. Anyone remember that car & price? Owner was GFORCE.

 

[shelbyelite]

There was an all black GT in Connecticut posted right here on the forum that I was trying to buy but got sidetracked by GTJoey's barn gathering in Sep of last year. Anyone remember that car & price? Owner was GFORCE.

Yep, I remember it. I paid $5k more than you offered G-force called me and told me what you offered, and asked if I would pay more and I said yes. Sold it to its new owner who is also here on the forum. He got it at a bargain, but it was a 26k mile car.

 

[Nardo GT]

"Nardo and I have purchased an early 2005 FORD GT VIN# 360". I don't see where it says WHEN either of us purchased it and is that material to anything? It's not a secret that I purchased the car back in May of '09 and just recently sold partial interest to Joey.When I showed the car in Houston it was it's maiden voyage for our "around the world tour". Joey was a gentleman and never asked what I paid as that is immaterial. Stick around, Joey and I might actually do what we say.

Anyone can always get a good price on anything if you are willing to shop, have cash to act immediately and don't have to ask your wife, bank or private inspector. Good deals don't stick around. The cars I have bought I flew there in hours after agreeing on a price subject to their description. I got a Heritage with 1K miles that is a very nice, undamaged car that I paid a bit more than Shelby. Sometimes I get 'em and sometimes I don't.....but I don't cry about the lost ones.....there will always be another.The black GT with 26K miles was the best deal I have seen anywhere on a used GT. I even messaged Shelby to congratulate him on a great buy. One-owner, supposedly no paintwork, a polished supercharger, lots of chrome and accessories under the hood with factory wheels & tires and aftermkt wheels & tires (all orig parts included). He was asking $115K right here on the forum in Connecticutt last Sep. I was in negotiation with him and lost contact while at GTJoeys barn gathering. I talked to him and know what it sold for (less than 115K). That was a heckuva deal. I have the seller's replies and phone number if anyone cares to verify. Proves there are cars out there. You will definitely pay if you are a slow mover, have to think about it etc. Procrastination costs. You just have to be patient & ready.

 

[HHGT]

Chase recently sold a 10,000 mile Red no stripe GT at manheim for $117K. Car had front fascia and door minor damage. At the time of the auction the carfax was clean. 2 weeks later it showed frame damage. The car is now for sale in Florida with a clean carfax. I guess that was cheap but with a story. Well bought? You be the judge.

 

[shelbyelite]

Agreed. What does any of the above about the black car with 26k miles have to do with anything in this thread? We were talking about 4k mile cars, not 26k mile cars. No one is getting upset that I have seen. I think people were just confused as to what was really going on with the Silver car. As for values of Ford GTs, It is no suprise that I am not gonna pay retail value on any Ford GT. You know how this works. I have to run a business and make a profit, but I can tell you this..... There is a reason I get so many GTs, and its NOT because I am the lowest offer.... More than likely because I pay MORE than other people in my business will pay.

 

[HHGT]

I asked this before and never got an answer so I will ask again.
How come Exotic Car dealers dont actively advertise and sell high mileage GTs.