"Car has salvage title but damage was very minor"
10-15-2013, 02:42 AM
#1
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"Car has salvage title but damage was very minor"
Looking at a G37 ad. It says something like "salvage title due to rear ending but only the bumper and trunk needed replacing". HTF is that possible? Why would an insurance co "salvage" a $20k car if the damage was only a few thousand dollars?
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10-15-2013, 02:50 AM
#2
it depends. sometimes an insurance company goes crazy over a little buckle in the quarter panel or trunk floor, estimating like 10k+ for repairs.
however,
most those people are full of crap . have him show you the before pictures. also get the vin number and google it. often times you can find the insurance auto auction listing for that car. Heck, post the vin here and we'll find the pictures for you
however,
most those people are full of crap . have him show you the before pictures. also get the vin number and google it. often times you can find the insurance auto auction listing for that car. Heck, post the vin here and we'll find the pictures for you
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10-15-2013, 12:50 PM
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10-15-2013, 12:55 PM
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10-16-2013, 10:35 AM
#9
The huge misconception about salvage vehicles is this:
The decision to assign a salvage title is foremost financial (cost of repairs must exceed vehicle's value). Structural integrity is a distant secondary concern.
You would have to crumple a Veyron into a small metal ball before they would salvage it, due to it's high initial price and corresponding residual value.
Conversely, I had a client swerve off the road in his 1990 camry in order to avoid an oncoming car. No body damage to the vehicle, but his suspension was fucked due to off-roading at a high rate of speed. He filed an insurance claim and they salvaged his car.
It's possible the G37 seller is telling the truth, if every airbag deployed in the accident. Most likely he's full of **** and the car got demolished. A salvage title cuts the vehicle's value roughly in half. Remember that if you're serious about buying it
The decision to assign a salvage title is foremost financial (cost of repairs must exceed vehicle's value). Structural integrity is a distant secondary concern.
You would have to crumple a Veyron into a small metal ball before they would salvage it, due to it's high initial price and corresponding residual value.
Conversely, I had a client swerve off the road in his 1990 camry in order to avoid an oncoming car. No body damage to the vehicle, but his suspension was fucked due to off-roading at a high rate of speed. He filed an insurance claim and they salvaged his car.
It's possible the G37 seller is telling the truth, if every airbag deployed in the accident. Most likely he's full of **** and the car got demolished. A salvage title cuts the vehicle's value roughly in half. Remember that if you're serious about buying it
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10-24-2013, 02:45 PM
#11
Let's see, a quick googling got me Driver Airbag, Passenger Airbag, Front Side Airbag (x2), Front Head Airbag (x2), Rear Head Airbag (x2).
Driver airbag - $500, used
Pass airbag - $560, used
FS airbag - $300, used (x2)
FH airbag - $140, used (x2)
RH airbag - $140, used (x2)
Roughly $2200 in used airbags, new are probably around 50% more expensive, so figure an easy $3k in airbags. Most new cars also need new airbag computers after a crash ($300, used) as well. Plus labor it has around $5000 worth of damage to the airbag system. Add on time on a frame straightener if the quarter got tweaked enough, plus cutting and welding in a new quarter, trunk lid, smoothing out the inside of the trunk, bumper, bumper reinforcement, paint, etc. etc.
Damage probably totals up past $10k, 50% of car's value in damage = totaled.
I had a 2001 Chevy S10 ZR2 that a tow truck backed into, NADA was $10k, new fenders, bumper, grill, hood, lights, core support, radiator, and labor came to $4500. Took the cash, sold the damaged truck with a clean title, and bought my little gay car.
Driver airbag - $500, used
Pass airbag - $560, used
FS airbag - $300, used (x2)
FH airbag - $140, used (x2)
RH airbag - $140, used (x2)
Roughly $2200 in used airbags, new are probably around 50% more expensive, so figure an easy $3k in airbags. Most new cars also need new airbag computers after a crash ($300, used) as well. Plus labor it has around $5000 worth of damage to the airbag system. Add on time on a frame straightener if the quarter got tweaked enough, plus cutting and welding in a new quarter, trunk lid, smoothing out the inside of the trunk, bumper, bumper reinforcement, paint, etc. etc.
Damage probably totals up past $10k, 50% of car's value in damage = totaled.
I had a 2001 Chevy S10 ZR2 that a tow truck backed into, NADA was $10k, new fenders, bumper, grill, hood, lights, core support, radiator, and labor came to $4500. Took the cash, sold the damaged truck with a clean title, and bought my little gay car.
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