[GaryK]

How much does a salvage title affect the value of a car?
I am looking to help a friend sell a 08 Pontiac G6 that had $16K worth of repairs. I get the impression people see "Salvage" and run the other way.

[mechanickeith]

If the car was repaired correctly, the only down sides I can see is the resale value & the cost of insurance.

[JLHarper]

Originally Posted by GaryK

How much does a salvage title affect the value of a car?
I am looking to help a friend sell a 08 Pontiac G6 that had $16K worth of repairs. I get the impression people see "Salvage" and run the other way.

ALOT, for the average buyer who may not look any further then the "salvage" part.

Could be flood, fire or damages exceeding $_______ (fill in by State I think) plus more catorgories I recall.

Someone who is savy and knows how to buy, it may not be a big deal.
Problem is I think you loose a big part of your core potential market right out of the gate, imo...

[The Boss]

What was the issue & what was done to it? How much is he looking for on it? My Father needs to replace his 2001 Grand Am. E-mail me the details if you don't want to share them here. thebosspontiac@hotmail.com

[Kyflier]

Our credit union and local banks say it takes away 50% of the value. Some of our banks wont loan money on a salavage title at all.

[SRR]

It all depends on why it's got a ST. I've owned two different cars with salvage titles and I had no problems with them. I wouldn't touch a car that was flood damaged though. That sucker will always have issues popping up.

[Ron Landis]

has all original paint, engine and interior. Column got peeled in a theft and only way it could be sold out of police impound was with a salvage title. I never figured on selling it...so it's a moot point with me. JMHO. Ron

[GaryK]

The car was not in a flood. My friend who has the car told me NJ starting adding an additional letter after "salvage", "F" for flood, "H" for hurricane, "S" for collision damage. This title has an "S".

Also the damage was $11,000, not $16,000 as I originally posted, I will inspect the car myself the week after next.

I appreciate all the help!!

Gary

[lazlo]

You will play hell getting insurance on it in Ohio. I used to rebuild salvage Harleys, in Ohio. Quit doing it, mainly because of the insurance hassles. It got to the point where some of the insurance companies wouldn't cover them & some charged more..

[GT182]

I always thought 'salvage title' meant you couldn't tiltle it to run on the highways, as it was to be parted out.

[T A 70]

Wouldn't buy anything with a ST...

[Bill Morgan]

The three cars my daughter drove from high school through college were salvage title cars. I got the first from a close buddy who repaired it correctly, and I personally supervised the repair of the next two. My wife has driven one car, a Totoya Avalon XLS, with a salvage title, and my Ford Powerstroke has a salvage title.

If you have the opportunity for close, extensive inspection and competent repairmen available, it's a heckuva way to get a good vehicle for far under the market. The best deals are nearly-new, low-mileage vehicles with hail damage, as long as you're more interested in transportation than appearance.

As stated by previous posters, a salvage title lowers the market value of a car by 50% or more, dependent upon how much can be discerned about its pre-damage condition and the quality of any repairs done.

It also is correct that few banks or credit unions will accept a salvage-titled vehicle as loan collateral. I spent 10 years on a credit union loan review board, and we regarded a salvage title as a loan application's kiss of death.

[GaryK]

I finally got down to the Jersey shore yesterday to look at the car. It has 22K on the clock and I did not bring a floor jack with me to get underneath, I did open every door and the trunk and I saw no sign of bodywork anywhere. The only difference I could see anywhere was on shock tower had a touch more corrosion than the other. So if I had to guess it was hit on the front drivers side. 11K in damage tells me front end damage.
My friend I am helping out with this car told me that her ex-husband hit a mailbox with the car and it will need a front bumper cover and inside front plastic wheel well. I could not see any other damage and I did not drive the car. She did mention the front end is not right since the mail box hit. Her EX did drive the car for a few months after this before he past away.
Unfortunately, I do not have the money to purchase this car. It will be a great deal for anyone who is willing to make the repairs. It will need a good cleaning since they had a dog and there is hair everywhere. There were some scuffs on the car that might not be buffed out and need to be repainted or clear coated. one large ding or small dent on drivers door near handle. Tires are new Tiger Paws all around. 2.4L motor.
I took a lot of pictures and will provide you her email if you are interested. I did pass on all the information, posted on this thread to her. She is eager to sell the car.

The Boss - Email sent

[Ron Landis]

Originally Posted by lazlo

You will play hell getting insurance on it in Ohio. I used to rebuild salvage Harleys, in Ohio. Quit doing it, mainly because of the insurance hassles. It got to the point where some of the insurance companies wouldn't cover them & some charged more..

only on bikes...because you basically have a "builder's title" which does not require federally mandated safety measured to be adhered to during construction. GM tried to reclaim a '69 Camaro prototype that they gave to Smokey Yunick...who promised to destroy it after he was finished with his "testing". He sold it and the new owner contacted GM...who put their attorney on the phone. Seems the car was never DOT approved ...opening them up to a can of worms as far as injury lawsuits. Makes all the difference. My car was never required to undergo any additional scrutiny for insurance purposes...to my knowledge. Ron