i've been looking @ 2003/2004 mercury marauders---prices vary wildly but i've come across one on a salvage title that is reasonably priced---how much should a salvage title reduce the value of the vehicle now and down the road?
Having owned a salvaged title truck, the bank would only finance 50% of its Blue Book Value. When I sold it a couple years ago, no one seemed to care that it was a salvaged title, that could have been in part due to the age of the truck at that time, and I was asking below blue book (but the transmission needed rebuilt).
Definitely worth the money to find the specifics of the salvage to determine the worth and to know the specific areas to go over with a fine tooth comb before purchasing, I think...
30%-40% is about right at a car for 7K plus iunder that it tends to decrease until 2K when it flatens out....If it is a car you want to drive till the wheels fall off doesnt matter...if its a car you think may increase in value or hold value I would stay away from it...
I've owned salvage vehicles and, as long as it passes whatever inspection the insurance company requires, there are no real issues IF it has been properly repaired. Collision salvage vehicles are the biggest gambles, so have someone with collision damage experience look it over to see if the repair work was done correctly and carefully. For salvage titles such as theft recoveries, it's no big deal if you plan to keep the car. IMHO, flood salvage vehicles aren't a gamble because you should just walk away and never look back. Unless you aspire to ECI status...
google the vin and if was sold throu the action it'll come up with a pic's and all. My father in law picked up a 2003 focas for my doughter in which she payed for was a salvage title. but the body shop that got it fixed it up and sent to W.V. and had it inspected and and then got a reg. title for it. then brought it back up here and retitled it she payed 2,300 for a 5,200 car
Definitely not more than 40% of book value and check with your insurance to see what they say prior to purchase. I agree they aren't for investment vehicles, but if you plan to drive it into the ground - what the heck. We bought a salvage for the kids first car and it was a newer Hyundai - $1700 off the auction block for a 6K car. Got a newer less problematic car and didn't need to get a loan to boot! ;>) Now that's as good as it gets!
I wouldn't mess with it. Some states refuse to title them, and others require heavy inspections. Insurance companies are reluctant to cover them, and selling them after you're done with it can be tough for all of the above reasons. The only time I made a salvage title pay is when I parted it out.
It depends on the state. Here in NC a car with a salvage title must be inspected by a DMV inspector before a NC title will be issued. If the car has been repaired correctly and you want to drive it the car is worth about half of a non-salvage car in the same condition. As 68XR-7 Cat says if it's a flood vehicle run away from it. I bought a Subaru that was a thieft recovery vehicle a few years ago and it had no collision damage. I replaced the seats, stereo, airbags, and wheels and the car was good as new. When I sold it I supplied the buyer with before and after photos along with a list of the items I replaced. I made a good profit and the man who bought it was very happy until his daughter wrecked it 2 months after purchase.