Salvage Title Vehicle Is It Worth The Risk?

[mikey_p]

Ok so i'm a huge Cadillac fan. I've owned 3 CTS's and I've found a CTS-V that seems to be in ok shape with under 100,000kms on it.. Its a Salvage Title but has been repaired and has been driving/registered in Alberta. I would pass this car up except its my dream car and I can get it for a good price.. Everywhere i look they are priced at $19,000 - $25,000.. I think i can get this one for $15-16,000..

Is it worth it?

I've had salvage vehicle before and never had an issue but something this expensive is hard to justify.

A car like this is it worth the risk?

[canadian booster]

i've owned 2 salvage vehicles, both were fine, one was a 4x4 pathfinder i beat on for a couple winters before selling to someone else.

it comes down to financial risk more than anything because if you're in an accident, and the vehicle is a write off, you get a big fat $0.00 cheque

[AudiPWR]

When I bought my S4 it was salvage. I had the car taken to Audi for a complete buyers inspection and everything checked out good. Make sure everything has been repaired professionally and make sure all parts that were damaged were replaced. Get the seller to do a buyers inspection at Jack Carter and see how the car checks out.

[FixedGear]

what kind of damage was it? e.g., I would buy something with hail damage or possibly even collision, but I wouldn't touch anything with flood damage.

[Tik-Tok]

As said, take it for an inspection, but I would only take it to someone who is certified for salvage titles.

[corsvette]

Originally posted by FixedGear
what kind of damage was it? e.g., I would buy something with hail damage or possibly even collision, but I wouldn't touch anything with flood damage.

Any vehicle with water damage gets a salvage only title, meaning it can never be plated again.

[G-ZUS]

Originally posted by canadian booster
it comes down to financial risk more than anything because if you're in an accident, and the vehicle is a write off, you get a big fat $0.00 cheque

Explain this?


Originally posted by FixedGear
what kind of damage was it? e.g., I would buy something with hail damage or possibly even collision, but I wouldn't touch anything with flood damage.


Almost all flood damage cars get titled non-repairable anyways so they can't be put back on our streets

[Anomaly]

Originally posted by mikey_p
Ok so i'm a huge Cadillac fan. I've owned 3 CTS's and I've found a CTS-V that seems to be in ok shape with under 100,000kms on it.. Its a Salvage Title but has been repaired and has been driving/registered in Alberta. I would pass this car up except its my dream car and I can get it for a good price.. Everywhere i look they are priced at $19,000 - $25,000.. I think i can get this one for $15-16,000..

Is it worth it?

I've had salvage vehicle before and never had an issue but something this expensive is hard to justify.

A car like this is it worth the risk?


I probably wouldn't pick up a salvage titled one for that price. If you watch you can pick up non tagged, higher KM cars for around 15-17,000 range (typically the 04-05's) A salvaged car like that would have to be in the 12-13k range to be worth the risk, imo.

Also, if you're looking for a 04-07 CTS-V:

-2006-07 have the better differentials (GEN3 and GEN4 diff)
-Listen for gear whine during test drive
-Plan on changing the factory shifter, it's terrible
-Check motor mounts(factory are fluid filled and leak)
-Bushings...wear on these cars quickly. Have the rear diff bushings checked
-Radio buttons paint flakes off easily....:nut:

All the above stuff aside, mines been great. Daily drive it, little bit of track use and I've put almost 100,000km on mine in the last 3-4 years and all I've done is brakes, motor mounts and tires. (It's at 186,xxx km now)

[mikey_p]

The vehicle has been inspected.. Needs a axel seal, a bushing in the rear end (common for cts-v) and might need tires next year or the year after.. They are getting low..

Unfortunatly when i was provided the car proof it has had 2 accidents..

Jan 14 2010 - Left Front Corner - $4700
Oct 2, 2010 - Right Front Corner - $22,210 (write off amount)

The car has been recertified and on the road.

Seems like close to winter related.. Jan and October.??

[spikerS]

Originally posted by canadian booster
i've owned 2 salvage vehicles, both were fine, one was a 4x4 pathfinder i beat on for a couple winters before selling to someone else.

it comes down to financial risk more than anything because if you're in an accident, and the vehicle is a write off, you get a big fat $0.00 cheque

Horse poop.

My truck has a salvage title, and when I got rear ended 2 years ago, they came out, and figured out it's value, and then repaired it. Even the adjuster said it was close to being written off and if it was, the insurance company would settle up with a cheque for me for the value of my truck.

so much mis information about rebuilt titles on vehicles.

Remember a "SALVAGE" title is a vehicle that can not be re-registered until it has been remediated and been approved to be back on the road. This inspection is probably THE toughest inspection to pass a vehicle on. IF it does pass, it then gets a "REBUILT" title, meaning it has passed the inspection and has been certified as road safe and legal.

So if the caddy you are looking at has a SALVAGE title, walk away without a second thought. If it has a REBUILT title, take it to GM and get a through inspection for peace of mind and to find out if there are any outstanding issues that need to be addressed, which is what you should do for any used car purchase anyways.

[vtec4life]

I would say if you love the car and are not worried about re-sale value go for it if its a great deal.

[G-ZUS]

Originally posted by spikers


Horse poop.

My truck has a salvage title, and when I got rear ended 2 years ago, they came out, and figured out it's value, and then repaired it. Even the adjuster said it was close to being written off and if it was, the insurance company would settle up with a cheque for me for the value of my truck.

so much mis information about rebuilt titles on vehicles.

Remember a "SALVAGE" title is a vehicle that can not be re-registered until it has been remediated and been approved to be back on the road. This inspection is probably THE toughest inspection to pass a vehicle on. IF it does pass, it then gets a "REBUILT" title, meaning it has passed the inspection and has been certified as road safe and legal.

So if the caddy you are looking at has a SALVAGE title, walk away without a second thought. If it has a REBUILT title, take it to GM and get a through inspection for peace of mind and to find out if there are any outstanding issues that need to be addressed, which is what you should do for any used car purchase anyways.

Do they value it less than a similar, active titled vehicle?

[black300]

Originally posted by canadian booster
i've owned 2 salvage vehicles, both were fine, one was a 4x4 pathfinder i beat on for a couple winters before selling to someone else.

it comes down to financial risk more than anything because if you're in an accident, and the vehicle is a write off, you get a big fat $0.00 cheque


That's not the case! My brother had a 2007 Pontiac G5 it had 19k but was a salvage and re-inspected,insured etc. Then had rebuilt title, he crashed into another car while it was parked (his fault) and the insurance cut us a cheque for $10,500 something around those lines. Bought the car only 2 months before for 5 grand.

[spikerS]

Originally posted by G-ZUS


Do they value it less than a similar, active titled vehicle?

I can't answer that with certainty. My experience would say no, they don't.

I had the adjuster and insurance company convinced that my truck was worth about $8500 (2001 dodge ram regular cab, long box, 2wd with next to no options). In reality, the truck is probably worth about 33% of that at the time.

[mikey_p]

So i got the final price.. turns out to be $16000..

It's been inspected by a GM tech.. It only needs the rear carrier mount bushing which happens to be a cts-v issue.. also needs some minor polishing.. Tires in next couple years (depending on driving) and the rear axel seal..

It's full loaded with Nav/dvd, heated seats.. Sunroof.. Pretty nice car.. Just dont want the thing to be a pile of crap.. The date was in 2010 so its been 2 years since the accident.. Still seems to be ok..

I have a car before that went through the inspection for write off and wow was that tough.. And that was before they made the changes in 2004 i beleive. They got more strict.. My poor integra was almost perfect afterwards.. I've had normal non rebuilt cars in way way worse shape and still totally roadworthy..

[2Legit2Quit]

The price is always alluring but when it comes time to sell it people will use the status as an excuse to lowball the crap out of your more so than normal. If you know the history of the reason it was written off and feel comfortable with the various factors of owning a soon to be rebuilt status car then sure do it up.

[mikey_p]

Originally posted by 2Legit2Quit
The price is always alluring but when it comes time to sell it people will use the status as an excuse to lowball the crap out of your more so than normal. If you know the history of the reason it was written off and feel comfortable with the various factors of owning a soon to be rebuilt status car then sure do it up.

It's not soon to be rebuilt status.. It is a rebuilt status car. It was fixed, inspected and registered back on the road over 2 years ago.. So far the car doesn't seem to show any sights of poor work.. Looks factory.. Right down to th bolts on the inner fender..

[hurrdurr]

Did I miss where you said what year it was?

[mikey_p]

Its a 2007.. 72,000kms

[Kloubek]

It doesn't make sense to me either that if you were to have an accident that they would not give you anything for it. I wouldn't be surprised if they reduced the value based on it being salvage, but I guess that would be up to the individual insurer.

I think your biggest risk, besides being 100% certain it was repaired properly and will not cause other issues down the road, is that when it comes time to sell it you might have some difficulty. Most people will not even consider a salvaged car, and when you *do* find a buyer people will not be willing to pay you anywhere close to what it is worth.

If you are ok with that, and you feel confident the inspection was rigorous, then I think you should be ok.

[mikey_p]

Originally posted by Kloubek
It doesn't make sense to me either that if you were to have an accident that they would not give you anything for it. I wouldn't be surprised if they reduced the value based on it being salvage, but I guess that would be up to the individual insurer.

I think your biggest risk, besides being 100% certain it was repaired properly and will not cause other issues down the road, is that when it comes time to sell it you might have some difficulty. Most people will not even consider a salvaged car, and when you *do* find a buyer people will not be willing to pay you anywhere close to what it is worth.

If you are ok with that, and you feel confident the inspection was rigorous, then I think you should be ok.

Very true.. I've noticed these cars selling for $23000 - $29000 online with close to the same kms but not salvage..

I offered $15,500 this morning.. I'll see if he's interested. I would think even at the lowest non salvage @ $22,000 a $6500 reduction for salvage should be ok.. Thats like 25% of its value.. or if you take the $29,000 its almost 50% reduction..

I sold my 2004 CTS 3.6L with 113,000kms for 18,500 two years ago.. Even in a couple years I think i should be able to get $12,000 out of it... No?

[canadian_hustla]

This sounds kind of obvious but did you make sure all the VIN's match up? For some reason it sounds like the car was rebuilt and now is being curbed, albeit not professionally. I wonder what the likeliness would be that the VIN or vehicle is stolen, or VIN has been added from a car which was salvaged...especially if you can't see any damage from the previous accident.

anyways maybe I watch too much TV but it is just a thought

[npham]

Seems like you need someone to reassure you that you are making a good decision, when most people in the thread are telling you to stay away. I do realize that the car is rebuilt and registered, but I don't see you getting $12,000 in a couple of years. I mean, the person that owns the car now probably thought they could get $18,000 and you offered him $15,000. See where I'm going with this?

[clem24]

Originally posted by mikey_p
It only needs the rear carrier mount bushing which happens to be a cts-v issue.. also needs some minor polishing.. Tires in next couple years (depending on driving) and the rear axel seal..

Careful with this. You're so blinded by your love for this particular car that you're willing to accept something as is to satisfy yourself. Just because something is an "issue" for a particular car does not mean this exact car was prone to that issue. It could be something else underlying. I am always suspicious of cars that "need this and need that", or worse, the ones that say " only needs this, got a quote for $100". If that was the case, why didn't just fix it before trying to sell it?

Anyway, it's been mentioned a billion times. If you feel you can take the risk, then go for it. But remember the saying "you get what you pay for". Don't rush into it. Paying a bit more now will result in less headaches down the road. If it's your dream car, then look for a good example, one that is clean and one that you'd appreciate way more.

When I bought my last car, I basically bought the most expensive used sample I could find because that was the car that was cleanest and had all the options I wanted. Turns out it was a good decision.

[toastgremlin]

My '06 WRX is a rebuilt.

For the most part it's been fine (in that it is a car that functions), but I've had to:
Repaint parts of the front end - the paint was peeling off the bumper when I bought it, so this was a known issue and I dealt with it. I'm still sort of dealing with it since they also poorly prepped the hood and roof, but that's life. I think the hatch was also replaced and was poorly prepped and rusting.
Replace the right front control arm - it was bent from the crash and was preventing it from aligning properly. I still think something is funky with the steering shaft but am afraid to really look into it.
Replace the bumper rebar, which had been chopped in half and clumsily rewelded to try and avoid having to buy a new rebar. This one got me an exciting phone conversation with the Alberta government regarding the level of detail of their rebuilt inspections, and the name and contact information for the shop that rebuilt it (which has now gone under).
Replace a broken airbag harness connector
Replace a bent motor mount
Even after all this, the car's frame is not fully repaired so things like the bumper and hood have annoying panel gap.

I've spent more than I can justify on the car. I figured I saved about $10-12k when I bought it in this condition over a different used car, but I've easily spent that difference and then some. You can never expect the car to be "perfect" because you will go broke trying to make it so. Best case with a huge repair bill like yours is that the car is tolerable and you can feel free to abuse it.

I really didn't expect it was this big of a hack job, and reselling it for anywhere close to the depreciated value of much higher mileage riced-out examples is impossible.

Don't rush into it. I got a dealership inspection and figured it was enough, but I should have gone to a body shop.

The scary part is, it had been on the road for 2+ years and 2 owners in this condition before I bought it.