yeti Posted April 25, 2012 Share Posted April 25, 2012 I know a lot of people will caution against a rebuilt title, but I know where it was hit and the shop that made repairs, so I'm willing to deal with it... for the right price. The wagon is an unlimited manual 2005 gt with 69,000 miles. I test drove it, and it feels great. Very clean, except for it's history of course. Does $7K seem like a fair price? I don't want to buy a car I can't sell should I decide to buy a house in the next few years... Any input would be appreciated, but please consider that I am new to the turbo scene. Link to comment Share on other sites More sharing options...
Leviman Posted April 25, 2012 Share Posted April 25, 2012 Sounds good to me. Just inspect the repairs yourself carefully. My 2.5i was $5200 before repairs with a salvage title. Link to comment Share on other sites More sharing options...
yeti Posted April 25, 2012 Author Share Posted April 25, 2012 ^ Thanks. Yeah, he said I could talk to the shop directly too, which I may do. Link to comment Share on other sites More sharing options...
robinlsb Posted April 25, 2012 Share Posted April 25, 2012 A DETAILED alignment check is in order from a very good place. "Belief does not make truth. Evidence makes truth. And belief does not make evidence." Link to comment Share on other sites More sharing options...
westu37 Posted April 25, 2012 Share Posted April 25, 2012 I agree. Talk to the shop if you can. Get info from where they bought the wrecked car from. I bought my wife's 09 Malibu a a salvage from PA. I found the place the guy bought it from and got all the pictures of what it looked like from the accident. It may be handy for finding intermittent problems in the future. Also, bought my Outback XT from a dealer with a blown turbo for just over $6k before trade in... and mine had 116k miles on a 05. So I'd say $7k with less than 70K miles is good, but get as much info as you can! Also if you're handy, I'd recommend ALL the fluids changed as pace of mind(engine oil, coolant, manual trans fluid-cocktail mix..., rear diff, and if you can brake fluid) And be prepared to spend money on other unseen items that may fail..... just in case... Wes. Link to comment Share on other sites More sharing options...
yeti Posted April 25, 2012 Author Share Posted April 25, 2012 The seller bought the car at auction and had it repaired at the shop, so he may have 'before' pictures. Good call on the alignment and fluid changes. Appreciate the advice. I've never bought a salvage titled vehicle before, so I have some anxiety. Link to comment Share on other sites More sharing options...
xt2005bonbon Posted April 25, 2012 Share Posted April 25, 2012 Mine is also a salvage title. bought it with 35000 miles on it for 11000$. Prior to buying it, I came with my checklist, toolbox, headlight and literally spent 3 hours checking every little details. The previous owner was really patient. Everything was pretty much in order except a part I forgot to check: the airbag system. I found out a couple of days later that the shop who rebuilt the car did not fix the airbag system and stuck a piece of tape on the warning light...Yep, there are unfortunately crooks around. So at least, make sure the airbag system works (to check, turn on ignition and make sure the 'airbag' warning light stays lit for about 7 sec; then it should turn off). In any case, I would still buy a salvaged title as long as I can trace who rebuilt the car. If there are before and after pictures and stuff, that is even better. It's now been 2.5 years I've had the car and 20000 miles later I've only had to change the timing belt pretensioner which prematurely failed. Other than that, the car runs just great. Link to comment Share on other sites More sharing options...
landark Posted April 25, 2012 Share Posted April 25, 2012 Personally I wouldn't buy a salvaged car. I worked as a claims adjuster and I saw what happens to the value of cars with branded titles. If I were to consider this car, it would have to be under $7k. If something happened and you crashed it, you're on the hook for repairs. Many insurance companies won't give you full coverage on a salvaged car. And if someone else hits you, their insurance will likely just total it again and give you a pittance. Also, if you decide to sell it, you'll have a hard time getting rid of it. But, if you keep it and it stays intact, you could have a good deal. It comes down to how comfortable you are taking the risks. Link to comment Share on other sites More sharing options...
yeti Posted April 25, 2012 Author Share Posted April 25, 2012 I found out a couple of days later that the shop who rebuilt the car did not fix the airbag system and stuck a piece of tape on the warning light...Yep, there are unfortunately crooks around. Oof. That sucks! How much did that run you? Personally I wouldn't buy a salvaged car. I worked as a claims adjuster and I saw what happens to the value of cars with branded titles. If I were to consider this car, it would have to be under $7k. If something happened and you crashed it, you're on the hook for repairs. Many insurance companies won't give you full coverage on a salvaged car. And if someone else hits you, their insurance will likely just total it again and give you a pittance. Also, if you decide to sell it, you'll have a hard time getting rid of it. But, if you keep it and it stays intact, you could have a good deal. It comes down to how comfortable you are taking the risks. You highlight many of my anxieties... I suppose I have a lot to think about. Link to comment Share on other sites More sharing options...
Moderators BarManBean Posted April 26, 2012 Moderators Share Posted April 26, 2012 Personally I wouldn't buy a salvaged car. I worked as a claims adjuster and I saw what happens to the value of cars with branded titles. If I were to consider this car, it would have to be under $7k. If something happened and you crashed it, you're on the hook for repairs. Many insurance companies won't give you full coverage on a salvaged car. And if someone else hits you, their insurance will likely just total it again and give you a pittance. Also, if you decide to sell it, you'll have a hard time getting rid of it. But, if you keep it and it stays intact, you could have a good deal. It comes down to how comfortable you are taking the risks. Everyone has a different aversion to risk, as you point out. From my limited dealings with you and reading some of your posts you are at the high end of being risk averse--I also gather that you're doin' ok $$-wise since your wife recently tried to convince you to buy a random GTO, lol (that was you, right?). Not making a judgement, just an observation. OP, if you are young and looking for a fun car, and $7k is in your price range--what do you have to lose? You could lose your $7k, but that's probably the worst case scenario. You don't have kids to haul around, you don't have a wife to rip your face off, etc. Or maybe you do, I don't really know anything about you other than you're looking at a salvaged LGT. Even if the car totally didn't pan out you could likely get at least a few grand from parting it out. Pay a few hundred bucks to have the car thoroughly checked out and check with your insurance company / lender prior to purchase to see what they both value the car at. That should give you an idea of whether it's "worth it" or not. Good luck! "Bullet-proof" your OEM TMIC! <<Buy your kit here>> Not currently in stock Link to comment Share on other sites More sharing options...
yeti Posted April 26, 2012 Author Share Posted April 26, 2012 ^ Thanks, BarManBean. Bringing a mechanic and taking a second look on Saturday. Also, I got the name and number of who worked on the car, so may talk to them as well as they are 5 min from me. This wagon is just replacing my beater, so it doesn't need to be perfect, but I would like some peace of mind that it's mechanically, and structurally, sound. As you say, worst case scenario, I can part out the car and get some of my money back. (Hopefully that won't be the case though...) Link to comment Share on other sites More sharing options...
rob-2 Posted April 26, 2012 Share Posted April 26, 2012 Personally I wouldn't buy a salvaged car. I worked as a claims adjuster and I saw what happens to the value of cars with branded titles. If I were to consider this car, it would have to be under $7k. If something happened and you crashed it, you're on the hook for repairs. Many insurance companies won't give you full coverage on a salvaged car. And if someone else hits you, their insurance will likely just total it again and give you a pittance. Also, if you decide to sell it, you'll have a hard time getting rid of it. But, if you keep it and it stays intact, you could have a good deal. It comes down to how comfortable you are taking the risks. Me either. I fear not having a 'safe' car. So many things could have been wrong with it. For a track car, I wouldn't care as much. But something myself and loved ones will share the roads with all the bad drivers, wouldn't touch anything more than a light accident. The airbag scam is a huge problem. Link to comment Share on other sites More sharing options...
xt2005bonbon Posted April 26, 2012 Share Posted April 26, 2012 Oof. That sucks! How much did that run you? ^about 1000 bucks to get a new airbag module (computer), clockspring, and seat belt pretensioners. Since then, it has been just fine. Pay a few hundred bucks to have the car thoroughly checked out and check with your insurance company / lender prior to purchase to see what they both value the car at. That should give you an idea of whether it's "worth it" or not. Good luck! ^yes. I strongly encourage to have a mechanic check the car out. Don't forget to check the airbag system. Link to comment Share on other sites More sharing options...
bhinak Posted April 26, 2012 Share Posted April 26, 2012 The price you pay for a salvage title car should never exceed half of the nada/bluebook value of the car IMHO. Link to comment Share on other sites More sharing options...
lol slow Posted April 26, 2012 Share Posted April 26, 2012 Try to talk them down for shits and giggles, otherwise the price is pretty good honestly. I bought a 2009 subaru impreza 2.5i 5 speed hit from a salvage yard for $6500, it only had 5.5k miles. I paid $2000 in repairs and ended up selling it for $6500 to a dealer where I bought my legacy gt for $6500 miles and 35k miles on it. Try to get for $6500 bucks out the door, you'll have yourself one good car for that price! Link to comment Share on other sites More sharing options...
xt2005bonbon Posted April 26, 2012 Share Posted April 26, 2012 ended up selling it for $6500 to a dealer where I bought my legacy gt for $6500 miles and 35k miles on it. You got a clean LGT with 35k miles on it for 6500 bucks?? Or you meant the LGT was 13000$ but you ended up paying 6500? Link to comment Share on other sites More sharing options...
ChefRacer Posted April 26, 2012 Share Posted April 26, 2012 Sedans are a lot cheaper than wagons.That wagon most likely has a bluebook value of $14-15k with a full title. I'd say that as long as everything checks out and is working well, $7k is a great price. If you decide you don't want it, I know plenty of others who would. Link to comment Share on other sites More sharing options...
yeti Posted April 26, 2012 Author Share Posted April 26, 2012 Try to talk them down for shits and giggles, otherwise the price is pretty good honestly. I bought a 2009 subaru impreza 2.5i 5 speed hit from a salvage yard for $6500, it only had 5.5k miles. I paid $2000 in repairs and ended up selling it for $6500 to a dealer where I bought my legacy gt for $6500 miles and 35k miles on it. Try to get for $6500 bucks out the door, you'll have yourself one good car for that price! The dealer bought a salvage title car from you? I was under the impression that they would not do so, even as a trade-in. Sedans are a lot cheaper than wagons.That wagon most likely has a bluebook value of $14-15k with a full title. I'd say that as long as everything checks out and is working well, $7k is a great price. If you decide you don't want it, I know plenty of others who would. Since it's unlimited, I think KBB sets it at about $12. Honestly, I'd rather pay like $6K, so I'm going to work towards that price... Link to comment Share on other sites More sharing options...
landark Posted April 26, 2012 Share Posted April 26, 2012 Everyone has a different aversion to risk, as you point out. From my limited dealings with you and reading some of your posts you are at the high end of being risk averse--I also gather that you're doin' ok $$-wise since your wife recently tried to convince you to buy a random GTO, lol (that was you, right?). Not making a judgement, just an observation. Nailed it! I have visions of my car blowing up every time I hit the gas now. Thanks to you. But seriously, my real aversion when it comes to salvage cars is losing serious money. If everything is stable, you can afford to lose some cash, and you plan to keep it long term (assuming it's in good shape) then go for it. For someone who is in and out of cars all the time and has to ask other people's opinions about it it's not a good idea. Returning the GTO was 100% fiscally related. If it were about $1000 less and I could have arranged my financing sooner I'd have kept it. I'm doing ok, but the thought of needlessly losing money on something keeps me up at night. And now not having a GTO is keeping me up at night. Link to comment Share on other sites More sharing options...
yeti Posted April 26, 2012 Author Share Posted April 26, 2012 Nailed it! I have visions of my car blowing up every time I hit the gas now. Thanks to you. But seriously, my real aversion when it comes to salvage cars is losing serious money. I could definitely lose money having to fix problems that stem from the original damage, and then struggle to ever re-sell the car at what I paid in total (cost + repairs). That's my biggest concern. As another member mentioned, I could always part-out the car, but I'd still lose like 3K probably. Not an amount of money to cause me financial ruin, but it would still suck. Eager to see what Saturday brings in terms of negotiating... Link to comment Share on other sites More sharing options...
dspurgin22 Posted April 26, 2012 Share Posted April 26, 2012 I recently did the exact same thing. Paid 8k for a '05 LGT (non wagon) with a reconstructed title. Ran great, took it to the shop and turned out the timing belt was due for replacment...2k dollars later I had a great running car. Until I was 30 miles away from school. It threw a rod and destroyed the #3 cylinder... Not the best Legacy experience... but just gives all the more reason to build the f%@$ out of it! My advice, along with everyone elses, have a mechanic thoroughly check it out! Link to comment Share on other sites More sharing options...
Moderators BarManBean Posted April 27, 2012 Moderators Share Posted April 27, 2012 One point keeps coming up that you haven't really addressed...how long do you plan to keep the car? If you're only looking at a couple years, salvage may not make sense unless you can really haggle them down... "Bullet-proof" your OEM TMIC! <<Buy your kit here>> Not currently in stock Link to comment Share on other sites More sharing options...
Moderators BarManBean Posted April 27, 2012 Moderators Share Posted April 27, 2012 Nailed it! I have visions of my car blowing up every time I hit the gas now. Thanks to you. But seriously, my real aversion when it comes to salvage cars is losing serious money. If everything is stable, you can afford to lose some cash, and you plan to keep it long term (assuming it's in good shape) then go for it. For someone who is in and out of cars all the time and has to ask other people's opinions about it it's not a good idea. Returning the GTO was 100% fiscally related. If it were about $1000 less and I could have arranged my financing sooner I'd have kept it. I'm doing ok, but the thought of needlessly losing money on something keeps me up at night. And now not having a GTO is keeping me up at night. Haha, thought so And sure, go ahead and blame me for selling you a brand new downpipe for a loss "Bullet-proof" your OEM TMIC! <<Buy your kit here>> Not currently in stock Link to comment Share on other sites More sharing options...
yeti Posted April 27, 2012 Author Share Posted April 27, 2012 One point keeps coming up that you haven't really addressed...how long do you plan to keep the car? If you're only looking at a couple years, salvage may not make sense unless you can really haggle them down... One of the reasons I am looking at the wagon is to transport my dog around while still having a backseat for passengers. So, I'd plan to keep the wagon for the life of my dog, possibly another 8 years... barring unforeseen circumstances, major life changes, etc. Keeping any car for a couple of years generally sets one up for financial loss, but I agree that a salvage would do so even more. Especially, if I had to pour money into the car beforehand. Link to comment Share on other sites More sharing options...
2005legacy2.5i Posted April 27, 2012 Share Posted April 27, 2012 Personally I wouldn't buy a salvaged car. I worked as a claims adjuster and I saw what happens to the value of cars with branded titles. If I were to consider this car, it would have to be under $7k. If something happened and you crashed it, you're on the hook for repairs. Many insurance companies won't give you full coverage on a salvaged car. And if someone else hits you, their insurance will likely just total it again and give you a pittance. Also, if you decide to sell it, you'll have a hard time getting rid of it. But, if you keep it and it stays intact, you could have a good deal. It comes down to how comfortable you are taking the risks. My sister totaled out a salvage title car, we got the retail blue book value for the car. But OP have it checked out, ask your insurance if they will give you full coverage on the car. That sounds like a nice deal, especially if it's a MT. Link to comment Share on other sites More sharing options...
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