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How old, how many miles, and what was damage?
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Posted by MI-Roger [Email] (#882) [Profile/Gallery] (more from MI-Roger) on Wed, 8 Jun 2016 03:15:31 Share Post by Email
In Reply to: Used car with rebuilt title - calculate price?, Dan-O, Tue, 7 Jun 2016 17:46:23
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My son just went thru a similar experience with his car but from the opposite side of the equation. 2002 GrandAm with 185K miles. Hit by another driver in a low speed fender bender. Insurance company valued car at ~$2200 and repair estimate was ~$2100. So close that they considered the car totaled

Luckily for him, Michigan only issues Salvaged and Rebuilt titles for cars newer than 7 years old. After reviewing all the options he decided to accept the $1900 buy-out amount, pay the additional $500 to $700 to get the car repaired (including repair of a 2010 door scrape), then drive it again until he finds another (newer and lower mileage) car at which time he will sell his now repaired car for ~$2200. His statement was "what kind of car can I find in a hurry for the $2200 Totalled Vehicle amount? I would rather drive the one where I know what the issues are." Plus his car has a one year old fuel pump, a two month old alternator, and a one month old ignition system. Yeah, great timing!

Long story, but the damage to this GTI may have been minor. Find out what happened and what was repaired. For an older car minor damage can create the Salvage/Repaired Title scenario. Future resale will always be a problem so keep that in mind.

->Posting last edited on Wed, 8 Jun 2016 04:34:14.
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Saabs owned:
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2006 9-3SC 2.0T - Wife's daily driver
2000 Viggen Convertible - Sold May, 2022
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