Howdy,
On Mon, 26 Jul 2010, Tim wrote:
> Yesterday we looked at an 04 Cavalier for my daughter that has a
> "salvage" title. We were told that car was in a front end accident and
> was totaled by the insurance company. This car, with AC, alloy wheels
> and what not else would blue book for close to $6000. We can get it for
> $4995.
>
> I has new tires and brakes and is very clean. The guy also said it has a
> new wheel bearing which I have to assume is on the front right wheel
> where the accident damage occurred.
>
> When I drove the car it felt solid and tight.
>
> I am looking for any input any one can give me about buying a car that
> was in an accident and has a salvage title. Is this a good idea or
> should we walk away from it. My daughter is taking a loan out to buy
> this car as she needs it for getting to and from work, college classes,
> and the schools where she will be student teaching; so we really need to
> get this (or something) done very soon.
My guess is that the loan company may not give you a loan on a salvage /
reconstructed vehicle.
I also wouldn't pay anything like market value for a salvage title
vehicle... People are scared of them and prices reflect that. Lowball the
hell out of the guy if you decide to make an offer.
All that said... A properly repaired salvage vehicle is fine. Its just
metal and plastic and wires and such and if its fixed it doesn't
"remember" the crash. :-) Check out the details on why it was totalled
and then look at those areas carefully.
But I for sure wouldn't pay $5k for a salvage title vehicle that
non-salvage was worth $6k.
Mark
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