On Mon, Jul 26, 2010 at 8:40 AM, Douglas Braun <doug@dougbraun.com> wrote:
> Whether or not there could be a problem with the title, you are still
> looking at a car that has been in a serious accident, and how can you
> know how well it was repaired? B A tainted title should give you a much
> bigger discount than 17%, in my opinion.
>
> If you were familiar with the vehicle before the accident and knew
> what had happened to it, and how it was fixed, probably you could make
> a sound judgment about its value. B But without that information, it's
> a pure gamble...
>
> If it was totaled,they must have replaced a lot more than a wheel bearing!
>
Typically, it means that it sustained 75% of its value in damage. If
the airbags went off, it wouldn't take much actual damage to go well
over that. (Probably 2000 or 3000 dollars to fix the airbags with
new parts in that car). But the problem is you don't know, and
aren't likely to know. (And even ifsomeone told you, would you
believe him?)
Unless I did the work myself, or bought it from someone I trust who
had done the work himself, I wouldn't pay anywhere near 83% of KBB.
Maybe 60, tops. Also, be aware that many banks will not lend money
for the purchase of salvage cars. (They're bad security. They sell
at huge discounts at auction.)
--
David Scheidt
dmscheidt@gmail.com
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