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Two for one deal...... Posted by Mike Lynch [Email] (#81) [Profile/Gallery] (more from Mike Lynch) on Tue, 31 Aug 2004 15:47:00 In Reply to: salvage title car, bing, Mon, 30 Aug 2004 07:48:31 Members do not see ads below this line. - Help Keep This Site Online - Signup |
Front half of one car, back half of another. That's the problem with salvage cars, you never really know what caused the car to be totaled by the insurance company. Could be the two for one deal, or it could be a theft recovery with only missing parts, no actual damage, like a missing interior. In California the purchase contract you sign from the dealer says the dealer's oral represetation of the car is not to be relied on, so they can make up some very convincing stories.
Salvage cars normally have some things in common, low mileage, 'cause they've been in the body shop forever, and fresh paint.
Major dealers generally don't want to fool with salvage cars, as I said too much B.S. and too many variables. Rule of thumb is they are worth half of what a normal car would be worth, if they look OK. That is car books for $7k, actual trade in value $5k, salvage title $2.5k if it looks nice.
So folks and smaller dealers who deal in salvage cars buy them at the 50% level of normal value, or less, and sell 'em for about 80%, mostly to folks who don't really understand what a salvage car is.
IMO salvage cars are to be avoided, at any price, unless you are in the bodyshop business.
posted by 63.197.222...
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