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Salvaged Title?

  • Yes

    Votes: 15 34.9%
  • No

    Votes: 28 65.1%
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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.
 

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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.


~
 

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Discussion Starter #4
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
 

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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.
 

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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.
 

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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.
 

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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.:)
 

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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.
 

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Discussion Starter #10
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.
 

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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.
 

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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.
 

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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.
 

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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".
 

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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.
 

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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.
 

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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.
 

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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)
 
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