Would you guys buy a salvaged title Ferrari? - Ferrari Life
View Poll Results: Salvaged Title?
Yes 15 34.88%
No 28 65.12%
Voters: 43. You may not vote on this poll

Reply
 
LinkBack Thread Tools Display Modes
post #1 of 25 Old 03-07-2008, 05:32 PM Thread Starter
 
Join Date: Mar 2008
Ferrari Life Posts: 36
Would you guys buy a salvaged title Ferrari?

I think given the right circumstances and prices I would - parts, or something else.
TheSpider is offline  
Sponsored Links
Advertisement
 
post #2 of 25 Old 03-07-2008, 05:54 PM
Owner
 
Join Date: Feb 2008
Location: Southern California
Ferrari Life Posts: 29
In most cases I would not. There is a stigma that goes along with a salvage title even if the car is repaired properly. The value is always lower and you limit your pool of prospects when it comes time to sell. There is also the insurance hoops when buying a branded titled car and there are some insurance companies that won't insure these cars at all. Other than being able to get into a Ferrari at a more affordable price, I don't see any other advantages.
gsjohnson is offline  
post #3 of 25 Old 03-07-2008, 06:26 PM
Owner
Elite Member
 
Magnum6464's Avatar
 
Join Date: Jul 2005
Location: Quebexico, Canada
Ferrari Life Posts: 1,990
If I planned to keep the car for a very long time, yes but just for parts.

Every 2 years I would swap to a fresh engine. So while one is getting tuned up, another one would be freshly installed and the car would never sit waiting for it to be done.


~

1990 348 TS (87284)

“I build cars for young men that only old men can afford” - Enzo Ferrari

Last edited by Magnum6464; 03-07-2008 at 06:32 PM.
Magnum6464 is offline  
 
post #4 of 25 Old 03-07-2008, 07:07 PM Thread Starter
 
Join Date: Mar 2008
Ferrari Life Posts: 36
I think if you plan to keep it for life, its not a bad money saving option... but i know alot of you guys sell eventually
TheSpider is offline  
post #5 of 25 Old 03-07-2008, 09:08 PM
Owner
 
viscount aero's Avatar
 
Join Date: Jul 2007
Location: San Antonio, Texas
Ferrari Life Posts: 453
Yes, I'd consider it were it either already titled and fixed or was damaged and repairable. I wouldn't rule it out.

There will be someone who will want it later if the day comes to sell. You just won't get the going market value for it --but you've theoretically never bought it at the going rate either. So it's the same thing except less money exchanges hands every time.
viscount aero is offline  
post #6 of 25 Old 03-07-2008, 11:33 PM
Owner
 
Brian's Avatar
 
Join Date: Jul 2005
Location: Austin Texas
Ferrari Life Posts: 1,833
I have been in the business a long time and have seen some cars that were not badly hurt that were totaled by insurance as an economic decision only. One I remember quite clearly. A pristine 328 GTB with quite a bit of sheet metal damage. No structural damage what so ever. If you were a good panel beater you could have fixed it and had a good car. It is true that its value is ruined but if you are looking to keep it a long time that becomes less important. Some states will vacate a salvage title on a car like that. It really depends on the circumstances. Most times it is not worth it but as with almost everything Ferrari, the words always and never should not be used.
Brian is offline  
post #7 of 25 Old 03-08-2008, 11:52 AM
Owner
 
Join Date: Apr 2006
Location: United Kingdom
Ferrari Life Posts: 3,928
Generally I would say no, not because I would worry about the stigma or value as if the price is right it shouldn't matter. I would probably steer away from a salvaged car only because I don't know anything about mechanics or body repairs, and I would probably buy a salvaged car that was made up of half a Ferrari, 1/3 of a Lada/Yugo and the rest from a 50cc moped.

However, if someone offered to swap my 328 for a salvage repaired F series supercar I would probably bite their hand off.

Archie
archiegibbs is offline  
post #8 of 25 Old 03-09-2008, 05:54 PM
Owner
Elite Member
 
jungathart's Avatar
 
Join Date: Nov 2002
Location: Manassas, NoVA
Ferrari Life Posts: 566
Out of curiosity, I wonder if there are unusual circumstances in which a completely driveable car is given a salvaged title. I often envision a salvaged title as belonging to something dredged out of hurricane Katrina and the like, but I know this is an extreme.

"Liberals are the pallbearers of societies"

'88.3 Testarossa
'83 Mondial QV (sold!)
jungathart is offline  
post #9 of 25 Old 03-09-2008, 07:29 PM
Owner
 
Brian's Avatar
 
Join Date: Jul 2005
Location: Austin Texas
Ferrari Life Posts: 1,833
Quote:
Originally Posted by jungathart View Post
Out of curiosity, I wonder if there are unusual circumstances in which a completely driveable car is given a salvaged title. I often envision a salvaged title as belonging to something dredged out of hurricane Katrina and the like, but I know this is an extreme.
It happens often. The 328 I spoke of was in fine driving condition.

At least in the US if an insurance company decides to declare a car a total loss it gets a salvage title. Total loss covers a lot of ground. It is often just an economic decision as I said. That 328 was a perfect low mile car but due to the nature of the accident almost every panel was bent, both bumpers, both valences, all lights etc. The parts bill at Ferrari prices was huge and with labor, loss of use, possible additions to the original estimate etc. they had no choice.
Brian is offline  
post #10 of 25 Old 03-09-2008, 09:53 PM Thread Starter
 
Join Date: Mar 2008
Ferrari Life Posts: 36
I've also seen quite a few vandalized ferraris put down as salvaged, and there was no structural damage to any of them from what I could see.
TheSpider is offline  
post #11 of 25 Old 04-25-2011, 03:51 AM
Owner
 
barcheta's Avatar
 
Join Date: Mar 2004
Location: Maryland
Ferrari Life Posts: 1,875
I think the key phrase there is "from what you can see". I had the opportunity to buy a ferrari a few years back that had a salvage title. The car looked great on the outside. It had fire damage that was repaired pretty well. The things I couldn't see though gave me pause and I decided to pass.

Current: 85' GTS QV
It's a simple process...... it's just complicated by human beings....
barcheta is offline  
post #12 of 25 Old 04-25-2011, 08:17 AM
Owner
 
Granucci's Avatar
 
Join Date: Jan 2007
Location: far and away
Ferrari Life Posts: 6,204
of course

the real question here is what would you buy it for which isn't stated but somewhat implied as in put it back on the road again.

- restoration: almost certainly not. Since the word is 'salvage' it most likely means it was recently licensed and therefore not a true collector car. Restoring a salvage to be relicensed on 'street roads' is most likely a mistake.

- if for a track car and something to putt about in such, one wouldn't care about a lot of items and just weld, and fix and re-work here and there. But only if you want to be seen in a Ferrari. PS: The engine must be in salvage order or it's a money pit. PPS: there are better money pits than a Ferrari for tracking.

- if you want a project to really tear it up and makes something it was not, why not: It's your money....go ahead, make that Veyon TR with a Mondial Top.

- parts car: Return on investment vs time is bottom line.

in all cases there is a reason to buy something but it's a question of money vs stupidity. The latter meaning if you can be stupid enough as in money is no object, then ya'. IF money is an object and you are stupid enough to throw it continually down a hole as in " I Believe in dreams" then it's your money and your brain cells.

There are many money pits, and as always many of us have experienced in some form or another that scenario. For instance, I just can't wait to buy a sail boat......can one say kaching. Thank god I gave up flying.

Guide to the Galaxy: Don't Panic
Rik -- LAH !


Current:
Past:
1990 Mondial T Cabriolet SN 86247 : Red/Tan
1995 456 GT 2+2 SN 99987 : Roso Metalizzato [Fer 311/C] & Tan

Last edited by Granucci; 04-25-2011 at 08:26 AM.
Granucci is offline  
post #13 of 25 Old 04-25-2011, 08:42 AM
Owner
 
mk e's Avatar
 
Join Date: Jun 2010
Location: PA, USA
Ferrari Life Posts: 4,439
Yes.
Personally I’d prefer to buy a salvaged car if I could find one at the right price for 2 reasons.

1. Cost…if the salvaged car has been repaired and it ready to go it will be 20%-30% cheaper than a car with a clean title and I like saving money.

2. I have a really hard time leaving anything stock and original so finding a car with damage to stuff I’d replace anyway saves an original car from being altered and saves replacing good parts.
mk e is offline  
post #14 of 25 Old 04-26-2011, 04:56 AM
Owner
 
jagguy's Avatar
 
Join Date: Mar 2003
Ferrari Life Posts: 47
Garage
Once again the key words here is "it depends". If it were a non ECU/CPU vintage care and it was a flood damaged car I would consider it if the price was good. If it were totaled by front or rear damage I would most likely move on. Any frame damage without being repaired by frame off would be a no buy. As to a salvage title you can get it "washed" in some states and you will loose the paper trail. Resale would not show this even through carfax for the newer vehicles. This is done all of the time buy some car dealers. So it all gets down to "it depends".
jagguy is offline  
post #15 of 25 Old 04-26-2011, 09:57 AM
 
Join Date: Apr 2011
Location: made in Italy with china parts
Ferrari Life Posts: 15
never say never....
duckymex is offline  
post #16 of 25 Old 04-30-2011, 01:44 AM
Administrator
Owner
Elite Member
 
Boxer's Avatar
 
Join Date: Apr 2004
Location: UK & Texas
Ferrari Life Posts: 15,136
Quote:
Originally Posted by Granucci View Post
- if you want a project to really tear it up and makes something it was not, why not: It's your money....go ahead, make that Veyon TR with a Mondial Top.

I would, if I was ever going to build a real project car (550 Spider or a 512 3P)
Boxer is offline  
post #17 of 25 Old 04-30-2011, 09:16 AM
Owner
 
Join Date: Oct 2010
Ferrari Life Posts: 97
Yes.

It would be a lot cheaper, and assuming it passes a PPI and shows that the damage was properly prepared, there should be no concern.

This aversion to buying a car that has been damaged and repaired is difficult to understand.
Mr. v is offline  
post #18 of 25 Old 04-30-2011, 10:47 AM
Owner
 
Neonzapper's Avatar
 
Join Date: Jan 2009
Location: D.C./Manila
Ferrari Life Posts: 1,008
Not without MVA-approved paperwork. The car may look great and run great, but ...

The motor vehicle administration doesn't like mis-matched identification numbers on cars, and sometimes salvaged cars need big replacement parts (frames, engines, transmissions). When numbers don't match, paperwork is needed to prove the car wasn't put together by a chopshop.
Neonzapper is offline  
post #19 of 25 Old 04-30-2011, 11:16 AM
Owner
 
Ollenaram550's Avatar
 
Join Date: Oct 2009
Location: U.K
Ferrari Life Posts: 134
I considered doing so about 15 months ago. It was a 355 that had been written off by the insurance company after the airbags went off. The body had been repaired and the chassis certified as being straight. It had much of what I wanted - Rosso Corsa, Crema, Burgundy. I walked away because it was F1 and a spider. I was after a GTS/manual. I am in a position to be picky. The price was good - low 30's £k as I recall. If the spec I want came up again as I write off I would certainly consider it depending on the cause of damage and quality of repair. I need to look to the future for when I finally become too old and decrepit for the 430 & 550. It would be a keeper in to my twilight.
Ollenaram550 is offline  
post #20 of 25 Old 05-16-2011, 08:08 AM
Owner
 
wintech's Avatar
 
Join Date: May 2011
Location: Perth WA OZ
Ferrari Life Posts: 94
The old saying "Horses for courses " is relevant on this issue. Being a frequent loiterer at damaged vehicle auctions,I have seen cars relatively unscathed been written off as some ins.policies have a 'new for old' provision.
Two cars come to mind that may illustrate the dilemma of 'gotta have but got no sav(vy)' one was an '88 328gts hit hard in the front, subframe took the shock and transmitted it throughout the car, evidenced by gaps and misaligned doors etc. BUT!! because it was a Ferrari, every person bidding saw a red supercar... went for 50K, market value in Oz is 75-85K major work to get it repaired, had 2 priors before this so god knows what sort life it had led! bad car (sadly) /ludicrous price!

Another was a '08 Merc 350SLK cab, immaculate, 13,000Km cream leather dark blue. written off in a hailstorm last year, the damage comprised no more than 10 small indents on the horizontal panels, no marks on the paint. Book value was 98-107K fix the dents with dry ice, no paint required. I gave the bidding away @ 52K went for 54K.nice car untouched, but written off as salvage.good car/good price.

In the eyes of the beholder, it can appear a pig or a prize, depending on a trained eye and knowing what to look for. I'm no expert but I cringe still over the cars I have bought thinking they were fixable (maybe so, but not by me at that time)
wintech is offline  
Reply

Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Posting Rules  
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome
Copyright 2012 ONE Media, Inc.
FerrariLife is independently run with no affiliation with Ferrari SpA
Ferrari for Sale | Maserati for Sale