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IM A LEGEND
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Discussion Starter · #1 ·
SO WHATS DA DEAL WIT HAVING A SALVAGED CAR WHY IS IT A BAD THING TO OWN ONE. I WANT TO KNOW THIS BECAUSE I MIGHT GET A 97 740 BMW THAT HAS 68,000 MILES ON IT. THE CAR DRIVES, RUNS AND LOOKS PERFECT. THE INSURANCE COMPANY EVEN SAID THEY COVER THE CAR THE SAME AS IF IT WAS NEVER SALVAGED AT ALL. LET ME KNOW
 

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The only worry with a salvaged car is with the workmanship of the shop that repaired it... Remember, this car was toasted bad enough to be a write-off, and MAY not have been repaired completely or properly !!!

Nothing is wrong with owning one as long as you are aware of the potential for hidden damage.... It would still have had to pass an inspection for them to legally sell it!!
 

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The problem with Salvaged vehicles, is that the term is way too general. A Salvage car is usually one claimed by a person to their insurance. Usually this can mean the car was in a bad accident, the frame might not ever be the same, the quality of the replacement parts would also be another factor. However, sometimes the car may have been stolen, or the the interior damaged so much, that the person who owned the car, claimed it on their insurance, because they did that, it also counts as salvaged. See Salvage cars are harder to place a value on, many banks will simply shave off 50% of the cars value, even though it may be in almost perfect condition. Some banks will refuse to accept a car, and some insurance companies will have a hard time setting a value on the car...

There is a Black/Black 1994GS with 75,000miles about 1 block from me...The exterior is in almost-perfect condition, the mechanics and ride seem to be perfect, the interior is slightly worn, seats, dirty console, etc... I was going to get this car but my bank refused it because it was salvaged. The owner is a mechanic and said he'd put it up on the rack etc.. for inspections. He's given me an asking price of $9000, $10,000 he said for anyone else.. yeah right hehe.

Anyways, a salvaged car varies in it's quality, so it's often deemed bad, even if it's been restored very well.. because it's value will always be a lot lower.
 

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IM A LEGEND
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742 Posts
Discussion Starter · #4 ·
WHEN THE CAR GOES FOR THE INSECTION DONT CHECK FOR THE HIDDEN DAMAGES AND MECHANICAL PROBLEMS ON THE CAR. I HAVE ALLSTATE INSURANCE COMPANY THEY SAID THEY WOULD COVERED THE SAME SO ILL GET TOP DOLLAR FOR THE CAR. THATS GOOD FOR ME BECAUSE IF I GET IN TO AN ACCIDENT I WILL GET THE CAR FIXED PLUS SUM.
 

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They try to find all the damage, but there is usually some they don't find...

I never said NOT to get it... You can usually pic up a salvaged car A LOT cheaper than you can any other of the same car !! Just telling you about stuff you should know about before venturing into that territory !!

Also remember, since the car is already salvaged, therefore, the book value is less, it will get written off by the insurance company faster too !!!

Good luck !!
 

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ok, what state you live in ???

They actually said they would cover the car the same as a non salvage title, is that what your saying, NNNOOOOO if so you better go have that in writting fast quick and in a hurry and get names, then read the fine print. I learned the hard way that ins co.'s are not your friends. If you decide to get the car you may be setting yourself up for a bunch of drama and head aches in the future. A salvage title is a salvage title regardless of what was done to the car, in the end it all translate into garbage when DMV/BANKS/DEALERSHIPS/most INSURANCE CO'S see this on the pink slip. These cars are like stray cats easy to get but hard to get rid of once you take them in. So you better like this car, VERY MUCH.

Not a wise investment sir, remember everything that glidders isn't gold. Be patient and you'll fine what your looking for and will be happier in the long run, right FutureX.....TRUST ME!!! are you hearing me, TRUST ME!!!
 

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Dont get it its not worth hassle

It must have been lot of work to fix that one to be a salvage, although it cost alot to fix bmw, when u have prob with car they gonna find way to charge more blaming it on salvage. U buy it cheaper but r gonna have to sell alot cheaper, also 7 series have bad resale already, unlike 3 series.How much r u gonna buy it for?
 

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Yeah, by waiting instead of going to another bank, I found a 1994 Legend GS white, in mint condition, it has 130k, but runs perfectly, and interior is superior to the salvaged one. Only set me back $7200 :) and it's not salvaged ;)


I'm not familiar with the BMW7 Series, insn't that the "Highest"? in the BMW line up?
 

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502MotorSports.com
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these guys are right...
AND DON'T EVER EVER Believe the insurance company...they will FIGHT YOU on paying a claim if at all possible.

As a matter of fact, if the car is salvaged, you might as well grab your ankles cuz the insurance company will NOT cover you...like my friend said up there...GET IT IN WRITING And ASK FOR ALL FINE PRINT...THEN ASK FOR THE FINE PRINT's FINE PRINT!!!

I have been down this road before, and even though they say you have "Full Coverage"...there are LEVELS of coverage.......betcha didn't know that.

Insurance is the BIGGEST rip off...especially if you don't have an accident. Then once you do, it goes up:mad:

insurance sux
 

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your insurance company must pay for the damages if you vehicle was salvaged.. If you opt for collision coverage, you have collision coverage, no matter what the title of the car is.. However how much you get is the big question, Unless they are somking crack, your insurance company will not pay market value on a claim involving a car with a salvage title..

It often helps to have a good insurance agent in these situations.. This is why I pay a little more for insurance going through a major company.. When s#%^ goes down, your more likely to get a quicker and often times more than fair;) settlement on your claim if you have a good relationship with your agent.
 
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