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Read this, before you make up your mind.
Posted by Bryan C (more from Bryan C) on Wed, 15 Aug 2001 13:31:58
In Reply to: Prospective owner questions: V6 belt / Salvage Title, Chandra, Tue, 14 Aug 2001 22:36:03
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There are quite a few things you need to research. I'll assume you already did you research on the price of the car.
Many times a vehicle can be totalled when in reality is should not have been. If the repairs are trumped up and the agent checking it does not know any different. If the owner of the vehicle insists it be totalled otherwise they might threaten legal action. There are companies out there that are hired specifically to lowball local values of vehicles. This extremely low value may also contribute to the totalling etc.. etc.. You will never know what the true circumstances where.
Different states have different laws regarding totalled vehicles. Most vehicles are totalled when they approach a percentage of the value in repairs. 75% seems right, I don't remember. To have a totalled vehicle inspected also has different laws in each state. You need to do some research on totalled vehicles in your state, before you buy it.
How long do you keep cars? If you can honestly say you keep a car for a long time, then the diminished value with a salvage title may not concern you. If you try to sell it in a year or two, you will have a hard time. With CarFax available, any one with half a brain will know the car has been totalled and more than likely won't want it.
If it were me, I would say No. But you may feel differently based on what you can afford and what you actually get for 7,500. Good luck
regards,
Bryan C
posted by 199.196.1...
Posts in this Thread:
- Prospective owner questions: V6 belt / Salvage Title, Chandra, Tue, 14 Aug 2001 22:36:03
- check the frame, Wayzel, Wed, 15 Aug 2001 15:08:57
- Read this, before you make up your mind., Bryan C, Wed, 15 Aug 2001 13:31:58 <-- Viewing This Message
- Or consider this., Bill D, Wed, 15 Aug 2001 09:52:33
- Re: Prospective owner questions: V6 belt / Salvage Title, Dave Westlake, Wed, 15 Aug 2001 09:22:14
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