salvage title impact value
Looking at a 2017 Audit A5 convertible. It has 15,000 miles and was hit on the side totaling the car. this guy had it fixed and is asking $26,500. It has a salvage title. It is insurable, but warranty is voided. I am not sure how to value a car with a salvage title??
Salvage titles are salvage titles for a reason you're taking you're chances unless you know the builder, there's a lot of expensive stuff that can break under normal circumstances much less one that's been T- boned
I would say at least 25% less than the same car with a clean title. Maybe more than 20%. I would NOT buy it!
It might be insurable, but at increased cost. Future claims are also more difficult, since insurance companies know it was totaled and issued a salvage title. On paper, salvage titles can cost you more.
There are speculators who look for cars like this. Salvage titles are given to cars whose repair cost exceeds market, or insurable, value. If a car has $20,000 damage, and book value is $19,000, insurance company considers it totaled and it goes into salvage. That might be to a salvage yard or to an auction. This doesn't mean that the car is FINISHED; only that repairs exceed value; and of course, this voids any warranty from the manufacturer. People often buy these cars to fix themselves, considering that they can fix them for the cost of parts. Cars with salvage titles are more difficult to insure and you'll pay for that. If you're not a seasoned mechanic, you should pass on this car; an experienced eye doing a DETAILED inspection could even miss something costly to fix. If you're confident in your car abilities, and you want to risk it, find the market value of the car and deduct costs that "guarantee" you a profit. That would be the highest $ to pay
wow.....all of you have given me great facts and thoughts. I do appreciate it....and have decided to pass. I was leaning heavily toward it at first. but, just too risky for a guy like me. I use to work on cars in the 80's but way out of my league now, and has been for years. thanks to everyone!!
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