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Buying a salvage STi?


BarManBean

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Just looking into the possibility of buying a 2007 STi with a salvage title. Wondering what kind of devaluation I should really apply for a salvage car. Supposedly the radiator support was bent and consequently the insurance company totaled the car out. Here is a pic of the previous damage (car has since been fixed):

 

http://i934.photobucket.com/albums/ad187/BarManBean/C0719567-DA81-45CE-A949-63341382670B_zpsby6skrbx.jpg

 

The car has around 100k miles, and it looks like ballpark KBB for the car in good condition would be around $17k.

 

What would you pay? Would you buy it at all? Anyone have actual experience buying a salvage car? I would pay cash for it, so a loan isn't an issue. I also understand the insurance difficulties I think, in that the insurance company simply won't apply a decent value to the car.

 

Open to thoughts and opinions, thanks!

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I'd pay what it was worth for in parts. Then you can't really take a loss.

 

If you plan on restoring it to driveable condition, I'd have a lengthy conversation with your insurance agent and read up on the [VA] motor vehicle code for rebuilt.

 

Personally, I wouldn't bother rebuilding it. It's not a rare car and the cost of fixing it and the hit on resale (if you plan on selling it) versus a used one doesn't seem worth it to me. Insurance costs should be higher on an already expensive-to-insure car.

 

If you planned on dedicating it for track duty, that would be different. I don't know what safety requirements are needed for track use though.

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I would not have noticed that, Tris. Car is local to me in VA, but the Oregon plates are definitely something to ask about...

 

Yeah, find out where it was rebuilt and how-- remember, NASIOC doesn't have a mrtris to set these people to rights on the path of a rebuild; they choose to dine on a dish known as "anarchè con el cheapo". Don't forget, they're Impreza people, they're not Legacy people, and there's a reason for that.

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Yeah, best I can tell I can get receipts for headwork done on the car (they are nicely built heads--supertech valves, full refresh), but the motor is built and this work was done by the previous owner, not the current owner. The chassis has ~100k miles, but the built block has supposedly been running for 19k miles. That makes me think it's NOT a silverline car, but like you say the oregon plates certainly bring up a couple of questions!

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I see a base pass decal, too-- my guess is the owner is AF or MC.

 

Where was the build done? At 19k, yes, any build quality issues would have reared their heads, but then again, depending on how it was treated, it's still at risk for spun bearing.

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I would say if the car is fixed well and chassis is "straight", 10K or so. Reselling is almost a no go, so you have to commit to the car 100%. Turning it into a 2nd car for track days and auto X would be perfect. The car is pretty much an expensive toy at this point.

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I would say if the car is fixed well and chassis is "straight", 10K or so. Reselling is almost a no go, so you have to commit to the car 100%. Turning it into a 2nd car for track days and auto X would be perfect. The car is pretty much an expensive toy at this point.

 

Agreed. Honestly I would most likely just part it out. I think my plan would have to be to just never register it. Sell the built long block (it seems to be very nicely done), sell the 6mt swap, and go from there.

 

The guy wants way to much for it at the moment to pull that off, but will have to see. Thanks guys.

"Bullet-proof" your OEM TMIC! <<Buy your kit here>>

 

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If it's a running, driving, fully put together car with documentation on the repairs and done right. . salvage title will still devalue one about 20-25%. A lot of it is still very subjective.

 

I rebuild Outbacks and often get full private party value or better for them, but they come out minty and generally in better shape than 90% of the ones on the road. Amazing what fresh paint and headlights on the front end of a 10 year old car can do for its appearance. I also go through the whole car from end to end and either fix it or bring it to the attention of interested parties (example: front sunroof didn't pop up on an 02 VDC I just sold. . . I had a replacement sunroof but didn't really feel like it was worth doing given the very limited functionality of the front roof on that car. Purchaser

agreed).

 

I've always felt like STi's were overvalued, but they're the tip of the performance pyramid and people pay for that. I see completely demolished 04 STi's go through Copart with 100k+ miles and still bring $7k+. Not a straight panel on the car and zero hope of ever putting it back on the road, but you figure the trans swap is worth $3-4k, brembos are a grand easy, wheels (assuming they're all straight) another grand, interior maybe $500-1000, engine swap $3-4k. . the money is there, just very tight margins that get completely blown if you have to write off one major component. I think most salvage STi's get bought by people doing swaps who don't want to pay inflated prices for salvage parts as few junkyards will buy them at those prices.

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Lol no prob. . . I don't buy STi's at salvage auction because there's just no money there.

 

Wrecked LGT: $3k maybe on a bad day. Value in parts: $5-7k easy.

Wrecked STi: $6k minimum, 7k average. Value in parts: $8k maybe if it's not a total shitball.

 

same amount of work involved in stripping either one down.

 

Mind you I wind up selling more parts to myself than outside sales but it's a lot easier that way. Most folks only wanna pay pull-a-part prices but want OEM guarantees. Um no thanks. . . I'll just keep this until I need it myself.

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Silverline Automotive in the Portland Area "rebuilds" cars. Way back when I started looking for a 5th Gen GT I almost bought one from there that they said had been hit in the rear drivers side. I did some VIN research and found an insurance auction pic of the car. I would have been looking the car over in the rear, when the lying sacks of sh!t had actually rebuilt the front.

 

 

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BMB, just make sure you have all the pics of the car's original damage. In the one you posted, the rear of the car is not visible.

1800586391_Silverline2010GT_Page_01.thumb.jpg.8f33f5767d49d650a2a8ef23bf4c476e.jpg

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So...my miata has a title but no registration. I do have a bill of sale, tho. Maybe its time you started autox'ing a serious car?

 

Note: I contemplated taking the miata down for an emission check. DOL was willing to give me a trip permit, too. The thought of driving a numbered/caged/running on slicks/3 inches of ground clearance/straight-thru exhaust racecar on the highway was almost too much to pass up. In the end, I couldn't get my schedule and the storage area's schedule lined up. It's a box of parts according to the DOL. In 2 more years, it won't matter as WA calls any car 25 years old or more a classic and not needing an emissions check.

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Silverline Automotive in the Portland Area "rebuilds" cars. Way back when I started looking for a 5th Gen GT I almost bought one from there that they said had been hit in the rear drivers side. I did some VIN research and found an insurance auction pic of the car. I would have been looking the car over in the rear, when the lying sacks of sh!t had actually rebuilt the front.

 

 

[ATTACH]197817[/ATTACH][ATTACH]197818[/ATTACH][ATTACH]197819[/ATTACH]

[ATTACH]197820[/ATTACH][ATTACH]197821[/ATTACH][ATTACH]197822[/ATTACH]

 

BMB, just make sure you have all the pics of the car's original damage. In the one you posted, the rear of the car is not visible.

 

Jesus Christ!

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Honestly I'd say about half of kbb for several reasons, but mostly due to the fact it's nearly impossible to get a 'quality' loan on the car and most insurance companies (in CA) will only offer basic coverage on the car. That means if you wreck the car you're out the money you paid for the car. My parents ran into all of this when they bought a salvaged titled Boxster about 5 years ago.

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The story with the reason for salvage is fairly specific, but in general I'm too trusting also. He said the car originally hit a higher truck (rear ended it), hence the damage being up high where the hood is and not so much down at radiator level. Supposedly it totaled simply because of the radiator support, which on these cars I guess is a bolt on piece that can be replaced?

 

I dunno. I'm thinking about it, but I messaged the guy too soon after his posting to really get the number down. I have no problem waiting a bit and going back to see if he has had any interest. I really don't need the car, just looking for a good buy if it's out there to be had.

"Bullet-proof" your OEM TMIC! <<Buy your kit here>>

 

Not currently in stock :(

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The story with the reason for salvage is fairly specific, but in general I'm too trusting also. He said the car originally hit a higher truck (rear ended it), hence the damage being up high where the hood is and not so much down at radiator level.

 

To get damage that high, you need to be texting and not paying attention to the truck in front of you slamming on their brakes. If he had hit a higher truck, the damage would have been more crumpled hood/cracked windshield

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