how bad does salvage titles effect price?

rcantu

Member
Joined
Jan 4, 2006
i had a gn 10 years ago but it was a POS and left a bad experience in my life.

I'm trying to come back for a 2nd shot.

I found a clean one but it has a salvage title due to theft. if it was from an accident i wouldn't even consider it.

I'm trying gauge what a 86-87 gn prices out these days. not a mint car more of a daily driver with good mechanicals.

thanks
 
A salvage title is a black mark. Most people would not even touch it, no matter the cost. Especially on a car like this. A GN is a car that will hold value and is an investment I would think. I think a salvage title would cut the value in half if not more. I know I would never buy one.
 
I also would never touch one as a general rule, especially on something such as a turbo Buick as stated above. On strictly a playtoy that is something that I would never expect to be in a position to have to sell, I might soften a little. Maybe at least a 25% to 30% in value reduction. Maybe that's why I am afraid to even consider one because I don't or can't come up with a value approximation. Dunno?
 
it will affect the value...

to a purist, but if the car is unique ( like a GNX clone) it will affect it to a lesser degree.
I've seen some modded GN's that were so cool, you wouldn't care if they had a branded title, so.... if you like the car, and it'll bring you enjoyment, then don't worry about resale value, but if your buying as an investment, then stay away from a salvage title.
thats just my opinion.
 
I would buy it. that just means car was stolen and recovered. insurance paid out. as long as its not a rebuilt title. that means it was wrecked and fixed. If you are getting car for a daily driver or race car it does not matter. If the price is right . it is still a gn. You know the drive train seen its better days:frown: .you know the term drive it like you stole it:eek: . thats why you dont buy repos. if they cant make payment they dont take care of car. A lot of people will tell you they would not buy a salvage car.thats until its in front of them for a good price. dont blow it off unless its a real junk.as for the price . post more about the car. miles /condition/ options.that will decide what its worth. me i like to find 2000.00 basket cases. if it does not work out you part it and tripple your money. post pics of car . good luck
 
I agree with Chopped39. You also might want to really investigate the salvage title and see for yourself why it was salvaged. Check with the Ins. Co. that issued the title etc.
 
Don't make a move on the car until you follow chopped39 and REM3200's input.
They are 100% right on the money.


This car might turn out to be as big a nightmare as the one you mentioned in your first post.

I went through the exact same thing almost five years ago-got a T for a smokin' price and it was a never-ending nightmare/money-pit.
Here I am now with a white T that is a 100% pleasure to own and drive.
This time, I did my research, got a beyond-smokin' deal and ended up with a peach.
Clear title and all. :)
 
One of mine has a salvage title and it is the car I perfer to drive as I do not worry about the devaluation.
 
Just to add a bit more info to my last post on this topic. Telling people that the salvage title car was a "Stolen and Recovered" is the most popular reason used. This makes the prospective customer think the car was not damaged--it's often just BS. Trace the title and go over that car with a fine tooth comb; put it on a lift for sure and get a good flash light. Pull up the carpet etc. and check for water damage and so on. How do I know all this stuff?? I was in the insurance salvage business for several years and we also rebuilt a lot of totals, a couple of which were GN's. Also remember, titles can be washed in some states (Ark. used to be a great one) to get a clean title. Needless to say, don't buy anything from the New Orleans area.
 
my ttype has a salvaged title.. was in a minor accident , and had new fenders and hood installed... seems to drive just fine for me...
 
i had a gn 10 years ago but it was a POS and left a bad experience in my life.

I'm trying to come back for a 2nd shot.

I found a clean one but it has a salvage title due to theft. if it was from an accident i wouldn't even consider it.

I'm trying gauge what a 86-87 gn prices out these days. not a mint car more of a daily driver with good mechanicals.

thanks

Check out boostwanter. he is selling one 8500.00 obo good luck
 
Just to add a bit more info to my last post on this topic. Telling people that the salvage title car was a "Stolen and Recovered" is the most popular reason used. This makes the prospective customer think the car was not damaged--it's often just BS. Trace the title and go over that car with a fine tooth comb; put it on a lift for sure and get a good flash light. Pull up the carpet etc. and check for water damage and so on. How do I know all this stuff?? I was in the insurance salvage business for several years and we also rebuilt a lot of totals, a couple of which were GN's. Also remember, titles can be washed in some states (Ark. used to be a great one) to get a clean title. Needless to say, don't buy anything from the New Orleans area.

My GN is a recovered theft with a salvage title. Not only was it stolen, but it was vandalized and crashed. It is still techically a 'recovered theft' - I don't think CarFax or anything else you could research would tell you that it was in a collision in addition to the theft.

My uncle has been in the salvage business for 40 years. I've seen A LOT of recovered thefts. Even when stolen just for transportation (versus for parting out or to escape from a bank robbery), theives are not easy on the cars they steal. Best case is some steering column and interior damage, but there is almost always some body damage. If it has a salvage title chances are that it was damaged in some way. Insurance companies will only total a car if it's too damaged to repair or if it had been gone for so long that the claim had been paid. Usually the salvage title is due to the former, not the latter.

The first thing you need to do is consider how you will be using the car. When I bought mine, I wasn't concerned with resale. I knew I would keep it for a long time, if not forever, so the investment I was to make was solely based on what it was worth to me to own such a car - not resale. I did get the car cheap enough that even with the salvage title I could break even if I had to.

Look the car over very carefully for signs of body repairs. Many of these cars have had a rough life, though, so evidence of body work doesn't necessarily mean it was a total. Mine was hit in the rear but when I got into repairing it I found that the header panel had been replaced from a prior accident.

All of my daily drivers are also reconstructed totals. You have to choose them carefully and weigh their cost against what you could sell it for if you had to. I use half of full retail value as a ball park of what I'd be willing to spend. I usually run them into the ground so resale is not a concern, but I have been able to turn a couple out years later without taking a beating.

Jim
 
Several years ago my WE4 was struck in the drivers quarter. The hit was about mid way up behind the wheel. It bent the lip of the trunk lid and broke the tail light. It also snagged the corner of the bumper. The car had to have a quarter but the damage to the bumper and lid were repairable. The estimate was @ $3,300.00. The insurance company was wanting to total my car because of it. There was no frame or mechanical damage, it was all cosmetic. I ended up taking $2,900 and paying for the rest of the repair to keep my title clear. If it had cost much more I couldn't have afforded to repair it at the time and it could very well have ended up with a salvage title.

Point is, not every car with a salvage title has been to *ell and back. I could just have been a minor accident at a time when the value of these cars were at their lowest. Take each car at it's own merit. Definitly buyer beware but IMO in twenty more years it won't matter half as much as it does now if the title is clear or salvage.
 
Welcome Back! A lot has changed

If you are a collector, do not consider it. If you want a daily driver, maybe. Most salvage titles are selling for half the equal car with a clean title. You should be talking about $5-10K for a driver with a salvage title. My opinion. Leave yourself some $$ room for surprises...There WILL be surprises. :)
 
Some insurance companies won't insure Salvage Titled cars?

A co-worker's son bought a car out-of-state on Ebay with a salvage title. Turns out, their insurance company wouldn't write a policy on it because of that.
It was a good-looking car, but it turned out to be a rebuilt wreck.
He, his son and the seller worked out a deal to cancel the sale, pay the guy's Ebay fees and such.
 
Some insurance companies won't insure Salvage Titled cars?

A co-worker's son bought a car out-of-state on Ebay with a salvage title. Turns out, their insurance company wouldn't write a policy on it because of that.
It was a good-looking car, but it turned out to be a rebuilt wreck.
He, his son and the seller worked out a deal to cancel the sale, pay the guy's Ebay fees and such.

Should've tried another insurance company. I've never had a problem with mine, but I've never had to make a claim either. If I were to try to collect on a policy then it might come into play.

Jim
 
As long as the car was properly fixed after a theft or an accident, I wouldn't mind buying a "salvaged" car. I'm not a car collector and I don't give a sh*t about what the resale value or what the purists will say...:tongue: My car is not really an investment but rather a big expensive toy. I did invest a lot of money into it though!... :biggrin::biggrin: !

Claude :D
 
I Have A 87 Gn With A Rebuilt Title ,the Age Of These Cars And The Popularity Of Theft Is Causing Most To End Up With A Marred Title I Bought Mine From And Insurance Salvage Auction, No Interior And A Blown Engine I Did A 4 Year Restoration On This Gn And It Is Absolutley Beautiful ,to Me Rebuilt Is Just A Word On My Title "if" I Was Ever To Sell It And The Prespective Buyers Didnt Want A Gn That Has Been Restored To Original Condition Then Search On Cause This Car Is Not For You,availability Of 20 Yr Old Muscle Cars Is Getting Harder To Find ,ive Known Of At Least 20 Gn That Have Been Sold With Rebuilt Or Salvage Titles And Maybe 1 Out Of 10 Buyers Didnt Want The Car ,others Didnt Care In The Least About Rebuilt ,my Insurance Comp Is Aware Of The Title Issue And I Had No Problem Insuring It For Agreed Value .if This Car Is What You Want Then Buy It Because In Time These Are Going To Be Harder To Find ,and There Is Always Someone That Will Buy It I Had Carfax It Showed Theft And Along With Receipts On The Restoration This Car Will Bring What I Ask For It Besides I Bought This To Keep Forever And I Could Never Sell It I Had One Before That I Sold ,and It Felt Like I Was Missing An Organ Or Something I Was Just Not Me So I Had To Get Another And It Was A Theft Recovery .my First Gn Was Also A Theft Recovery In Jan 1988 234 Miles On It For 9500.00 Drove It 10 Yrs And Sold It For 17.5 K A Good Ivestment I Would Say Buy The Car You Want Drive It Enjoy It And When The Time Comes .......if You Can Let It Go Youll Get Your Money Out Of It
 
My black car has a salvage/rebuilt title. It was clean until i brought the car through inspection 10 years ago when i bought it. It was a theft recovery back in 1989. The dealer that sold the car to the owner before me didnt fill out the correct paperwork after fixing the car. At least thats what DMV told me. The old title said nothing on it about anything being salvaged at all! I got the $hit end of the stick on that deal. Luckily i got a great deal on it and the body was never damaged at any point. I wont feel so bad putting a cage in it this fall now. If i had bought that car and expected a low mileage gem i would be f'in pissed. I would have little recourse either since the title was clean that the previous owner had. I wonder how i would have handled that one. Your talking thousands of $ difference in value. Probably would have to lawyer up and go through a bunch of bs and still get no where.
 
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