Help from the Dallas crew
07-23-2009, 09:44 AM
#21
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What dollar value? Big difference between a $2000 salvage car and a $10,000 salvage car.
In a nutshell, many people won't buy them at all. Trade values are going to be half of book, so you need to buy for half of book to protect yourself.
Also, if you are planning on full coverage for the vehicle, some insurance companies won't want to insure a salvage car as their potential payout is higher than value so they just pass.
So, if you are looking for a sub-$3000 car that will have liability only, I'd do it.
We bought my wife's 03 Protege in 04 with 24K on it. It had a salvage title but I inspected the car and talked with the shop owner that did the work and was happy with the car. It was a $13,000 book car at the time. We paid $6,400 for it and just put liability on it. It has 101,000 on it now and has had a set of tires and oil changes. That's it. It's been a great car for her. So, it can work out.
In a nutshell, many people won't buy them at all. Trade values are going to be half of book, so you need to buy for half of book to protect yourself.
Also, if you are planning on full coverage for the vehicle, some insurance companies won't want to insure a salvage car as their potential payout is higher than value so they just pass.
So, if you are looking for a sub-$3000 car that will have liability only, I'd do it.
We bought my wife's 03 Protege in 04 with 24K on it. It had a salvage title but I inspected the car and talked with the shop owner that did the work and was happy with the car. It was a $13,000 book car at the time. We paid $6,400 for it and just put liability on it. It has 101,000 on it now and has had a set of tires and oil changes. That's it. It's been a great car for her. So, it can work out.
We're looking at a $2500 Camry with around 80,000 miles. So it won't turn out to be a big financial hit after he finishes school. He'll use it for 1 1/2 years.
My son's plan was to put just liability if he could (he's only 24).
I gather by your reply that he shouldn't have problems with annual inspections (which is one of my concerns).
Thanks again for your input.
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07-23-2009, 09:53 AM
#23
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Ok; I'll wait for some of the Dallas guys to chime in.
BTW; love your new suspension! I think I did something wrong when I installed my teins basics. I'll be asking you some questions in your thread.
Many thanks again.
BTW; love your new suspension! I think I did something wrong when I installed my teins basics. I'll be asking you some questions in your thread.
Many thanks again.
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07-23-2009, 01:46 PM
#24
The annual inspections here will vary by the year of your son's car. OBD I will get a sniffer test on a baby dyno, as well as a basic safety inspection (lights, brakes, horn, et al.).
OBD II cars will have the engine computer scanned for error codes and have the same basic safety inspection. I believe three or more engine codes will cause the vehicle to fail that portion of the inspection.
OBD II cars will have the engine computer scanned for error codes and have the same basic safety inspection. I believe three or more engine codes will cause the vehicle to fail that portion of the inspection.
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07-23-2009, 02:06 PM
#25
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The annual inspections here will vary by the year of your son's car. OBD I will get a sniffer test on a baby dyno, as well as a basic safety inspection (lights, brakes, horn, et al.).
OBD II cars will have the engine computer scanned for error codes and have the same basic safety inspection. I believe three or more engine codes will cause the vehicle to fail that portion of the inspection.
OBD II cars will have the engine computer scanned for error codes and have the same basic safety inspection. I believe three or more engine codes will cause the vehicle to fail that portion of the inspection.
Can you tell me if the inspection would be affected by the fact that the car has a "salvage" title?
I guess it will be OBDII because it's a 2001 Camry.
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09-20-2009, 03:17 AM
#26
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Hey Rafa,
I work at SMU, and know a lot of people at the GuildHall... Did he make it here yet?
FWIW, he doesnt 'need' a car at all. There is a public transport system (rail, bus, shuttle, and subway) that connects Guildhall, main campus, and most apartment complexes together. And SMU students get an annual pass for free. ;-)
Salvage title wont affect getting inspection. We dont have anything like MOT here in Texas. Just safety check and emissions if you live in an emissions county.
I work at SMU, and know a lot of people at the GuildHall... Did he make it here yet?
FWIW, he doesnt 'need' a car at all. There is a public transport system (rail, bus, shuttle, and subway) that connects Guildhall, main campus, and most apartment complexes together. And SMU students get an annual pass for free. ;-)
Salvage title wont affect getting inspection. We dont have anything like MOT here in Texas. Just safety check and emissions if you live in an emissions county.
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09-20-2009, 09:50 AM
#27
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Hey Rafa,
I work at SMU, and know a lot of people at the GuildHall... Did he make it here yet?
FWIW, he doesnt 'need' a car at all. There is a public transport system (rail, bus, shuttle, and subway) that connects Guildhall, main campus, and most apartment complexes together. And SMU students get an annual pass for free. ;-)
Salvage title wont affect getting inspection. We dont have anything like MOT here in Texas. Just safety check and emissions if you live in an emissions county.
I work at SMU, and know a lot of people at the GuildHall... Did he make it here yet?
FWIW, he doesnt 'need' a car at all. There is a public transport system (rail, bus, shuttle, and subway) that connects Guildhall, main campus, and most apartment complexes together. And SMU students get an annual pass for free. ;-)
Salvage title wont affect getting inspection. We dont have anything like MOT here in Texas. Just safety check and emissions if you live in an emissions county.
I don't think he had a clue about the annual public transport pass for free as an SMU student. I'll let him know just in case. He bought an Oldsmobile Alero in really good condition which used to be owned by a female teacher.
Many thanks for your input.
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09-20-2009, 11:29 AM
#28
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Hey Rafa,
I work at SMU, and know a lot of people at the GuildHall... Did he make it here yet?
FWIW, he doesnt 'need' a car at all. There is a public transport system (rail, bus, shuttle, and subway) that connects Guildhall, main campus, and most apartment complexes together. And SMU students get an annual pass for free. ;-)
Salvage title wont affect getting inspection. We dont have anything like MOT here in Texas. Just safety check and emissions if you live in an emissions county.
I work at SMU, and know a lot of people at the GuildHall... Did he make it here yet?
FWIW, he doesnt 'need' a car at all. There is a public transport system (rail, bus, shuttle, and subway) that connects Guildhall, main campus, and most apartment complexes together. And SMU students get an annual pass for free. ;-)
Salvage title wont affect getting inspection. We dont have anything like MOT here in Texas. Just safety check and emissions if you live in an emissions county.
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09-21-2009, 01:18 AM
#31
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Oh there must be another one there then...(I'm sure there are a few miatas in the system).
I work on the main campus in Dallas...not in Plano. Plus my car hasnt seen the road since last October. I took it for its first real drive in a year this evening.
Good times though...
-scott
I work on the main campus in Dallas...not in Plano. Plus my car hasnt seen the road since last October. I took it for its first real drive in a year this evening.
Good times though...
-scott
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