# salvage/rebuilt title question



## IcyWite (Jan 18, 2011)

how much does a salvage/rebuilt title bring down the price on a gto?


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## alaninin (Dec 4, 2010)

I would say 25 to 50 percent lower. If someone was looking at one to purchase I would try to get some pictures before repairs where made to the car.


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## 740tank (Mar 23, 2009)

it all depends on the bank your dealing with. some will loan out more than others. but the above statement 25 to 50% is pretty accurate. I bought mine for 9k 2 years ago with 8500 miles on it. I saved about 40% and absolutly love the thing, and can really do some upgrades with the money I saved


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## youngGoat (Aug 14, 2010)

I never buy salavage and rebuilt cars, not saying there all bad but Ive had friends who get them and they turn out to be pure lemons. Id rather spend the money on getting a car that has a clean title. less chance of it being a lemon.


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## IcyWite (Jan 18, 2011)

I found a 04 gto with 54k miles for 7k. He said the wreck happened 5 years ago. going to check it out later this week.


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## Mike_V (Mar 10, 2006)

So five years ago it had enough damage to be a total loss - meaning $12,000+ damage or a flood.


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## Rukee (Feb 8, 2007)

If it was totaled from a flood, RUN!!!!


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## LS2 MN6 (Jul 14, 2010)

I don't know about GTO's but my only dealing with a Salvage title was my 2nd car ever a 1997 Grand Am, it was one year old and I bought for about 60% of the cost when new. That included the cost of the shop who fixed the car. When I got it the car was in very good shape (it didn't look like it had been in an accident).

However when you have a salvage car you have to watch for things. While my 97 Grand Am looked good, the body was actually a bit off (twisted) this caused me to replace brakes (and rotors) at an alarming rate in 6 years I had three sets of rotors and 6 sets of brake pads (all 4 corners, yes even the rear drums). Granted those cars had bad brakes and rotors to begin with and I was a kid who drove like a fool (thought I was speed racer), but even with that the items should have lasted slightly longer.

Outside of that I did have constant overheating problems as which where inspected (Even had the T-stat replaced the system flushed). But to no avail.

Basically unless you want a semi-project car I'd avoid most salvage titles. Some of them (like flood damage units) I'd avoid entierly. The electrical gremlins, frame defects, and other minor issues will cause problems in the long haul.


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## IcyWite (Jan 18, 2011)

I know for sure its not flood damage. But i'm going to have a mechanic take a look at it an what not. I see a lot of GTOs with salvage titles still going for 10k with more miles. So hopefully it will work out.


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## fergyflyer (Apr 18, 2005)

IcyWite said:


> I know for sure its not flood damage. But i'm going to have a mechanic take a look at it an what not. I see a lot of GTOs with salvage titles still going for 10k with more miles. So hopefully it will work out.


Metal has memory. When you straighten a frame, you pull it past where straight is and guess at how much it will spring back. Some people are artists and some are less than good. 

Metal also has memory in that a bad bump can cause a straightened frame to pop back to a less than perfect position. 

It doesn't take much for the car to not drive right or to feel right but not really be right. I'm not saying don't buy it, but like you said, have a mechanic or a body shop guy look at it.

I sold cars back in the late 80's. We were pretty firm in only giving 50% of the lowest book value on the car. KBB excelent, good, fair, we used fair and took 50% off. 

Be careful and good luck. Don't make a snap decision. If they tell you they have people interested in it and it isn't going to be there long, remember that it's really hard to sell a car with a rebuilt title and they are probably trying to put some urgency on you. You're much better off missing a good rebuilt GTO than buying a bad rebuilt GTO.


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## 2006KJ (Jan 3, 2011)

I'm currently rebuilding a totaled GTO that i bought. I would not buy a rebuilt total loss car.. I know enough and am picky enough that i would NEVER be happy with someone elses repair.. so it would be twice as much work repairing someone elses repair. If you interested... i have a thread detailing my rebuild 

Rebuilding GTO - LS1GTO.com Forums


that's it. and i started that thread so if i ever decide to sell it i'll show that to the potential buyer and he/she will know it was fixed right. By actually doing it right and documenting the process it takes all the guess work out of "is this an 'ok' car to buy". Legally you have to disclose that it was wrecked. Mine was not a bad hit at all. GTO's get totaled a lot because used parts are almost non existent and new cost an arm and leg. If i were to sell it when its finished i'd expect to get 75-80% of book value. All totals i've fixed and sold seem to go for around that... fixed properly and documented. but the goat isnt leaving


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## Mike_V (Mar 10, 2006)

I had a Mercedes hit in the rear and pushed into another car. Insurance spent 30G+ fixing it then called me saying it was ready and I could pick it up. I told them it was leased from Mercedes so it was really their car and I'd have them come look at it. The shop guy got crazy mad and I just laughed.

Mercedes sent a guy who reported it would never be safe to drive again and the car was a total loss, which I had told my insurance company was obvious because even the rear doors came open in the accident.

Any shop just wants money, and think of all the places to save when 90% of the work will never be seen.


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## jpalamar (Jul 22, 2008)

After talking to our local credit union and insurance company, we came to the conclusion that a rebuilt titled car was worth 40-60% less then a clean title.


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