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Considering purchase of a salvage title car - advice?
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Posted by andym (more from andym) on Fri, 10 May 2013 07:24:26 Share Post by Email
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I saw a car on an independent used car lot here in NY that I would consider buying, but it has a salvage title as a theft/recovery. Have not pulled a car fax yet, but Binging the VIN thru the web shows the car comes from the southwest auto auctions last month, so I know its not a Sandy flood car. KBB in a perfect retail world is $28,000, this car has minor cosmetic issues (curb rashed wheels, minor baseball sized dent on rear quarter and damage to lower plastic bumper/valence in addition to the salvage title. Dealer is asking a little more than half of KBB retail value, salvage system showed starting bids at $6,000, so assume he paid a bit more than that plus another $1,000 to ship it back east. 35,000 miles on the odometer. Dealer has a decent rep.

Of course I would have my trusted indy check it out first. I realize the implications of buying a salvage title, but at $15,000 I figure my downside is limited, and if I got 5 years and 100,000 miles out of I could give it away and not worry about salvage title resale issues.

Anyone ever done a salvage title deal? Any advice on how to track back the ownership through police reports or insurers, etc in addition to the carfax? Does registering a salvage title car in NY require any special inspections? Also, which is better, CarFax or AutoCheck?

I am considering this as I can't find an 07-10 9-5 or 9-3 4cyl with a stick with decent mileage or condition.

Thanks to all in advance.

posted by 173.220.20...

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