The depreciation factor is possible with this truck. It sold for about 26K new
and is now worth 11K-12K with average mileage. Compared to the V6 Tacoma's I
have been looking at that's severe depreciation.
Financing is not an issue as the price is low enough that I can pay cash. One
of the reasons I am even considering it.
The airbag issue would be a deal killer. I have not found out from the seller
if they are still intact. He may not know. He hasn't returned my latest e-mail
asking that question but it is Saturday night:) I do have the name of the
repair shop (in Stockton) from the Carfax report. I don't know if they would
tell me anything but It couldn't hurt.
I know about hording unobtanium car parts. I think we all latch onto any hard
to find Spridget parts when we can find them. I've also been hording rare MKII
Cortina parts on the chance that I'll find another project one day. (obligatory
LBC content:)
Herby
63 MKII Sprite (Herbytoy - patiently waiting)
62 MKII Sprite (the "resto-mod" driver)
billh@aaai.com
www.herbytoys.com
________________________________
From David Riker [mailto:davriker at pacbell.net]
Sent: Sat 4/23/2005 10:03 PM
To: Bill Hunt; spridgets@autox.team.net
Subject: Re: Salvage vehicles could be LBC
Cars can become "total losses" for many reasons, with no way to
differenciate why it was written off by the insurance co. DMV lables them
all as salvage. With a specialty model, it could easily be unavailability
of parts, ie I have a Ford Falcon Squire wagon, and the wood grain trim is
unobtainable. One parking lot scrape, and no amount of money could repair
it (why I have begun to horde NOS woodgrain).
I've also seen middle aged models that have hard depreciation totaled with
little or no damage. A 1997 Escort with 25,000 grandma miles would be
totaled simply if it needed a new front bumper cover & paint, what with
todays labor rates and all.
Insurance shouldn't be a problem, as I wouldn't bother with anything above
comp and collision on a salvage titled vehicle anyway. You'd pay premiums,
but if you filed a claim, the fair market value of a branded title vehicle
would be used to settle any collision claim.
The biggest hang up is that salvage vehicle transactions usually cannot be
financed. It's the banks that have a big problem with them, and the main
reason dealerships hit the trade value so hard.
If it came equipped with factory SRS airbags, make sure it has them now.
The cost of airbags is also a common reason to total a vehicle, and often
the body is repaired, and the steering wheel / dashboard covers replaced,
but no airbag inside.
David Riker
davriker@pacbell.net
http://home.pacbell.net/davriker/
http://community.webshots.com/user/fool4mg
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