Not sure if it's been asked before, but what are the thoughts on a rebuilt or salvaged title cobra? Would you even consider it? I know there's a difference between accident and theft if it was related to accident would you consider the purchase?
Would you buy Rebuilt/Salvaged?
- Thread starter 11redGT/CS
- Start date
Depends on what you are after. If you want to buy it and keep it forever, then hell yes. Wrangle yourself a good deal and build it.
If you want to flip it to make some cash, or sell it a few years after owning it, then probably not a good idea because resale value will be low.
If you want to flip it to make some cash, or sell it a few years after owning it, then probably not a good idea because resale value will be low.
I'm not sure if this is true but I was talking to someone about this same subject yesterday. They told me that insurance will not fully cover a car with a rebuilt or salvage title since the car has already been deemed a loss. I'm not sure how true that is but someone will probably confirm or correct me.
This has changed to my knowledge you can get full coverage and now there's bank that will finance these titles as well.
Yes and no.
You've been able to insure and finance rebuilt vehicles forever.
Some states have whacky laws with the titles and inspections, so always validate that.
The catch with insurance and finance however is the branded title does hurt thr value of the car. So be sure to ask them about that.
I know USAA for example, a branded title is 15% off bluebook value. So a $20k car, you could only finance a max of $17,000 and if you total it you'd only get $17k.
Now mind you, they also will finance 110% Bluebook and cover up too 105% in a payout on a normal title vehicle. So a $20k car you could borrow $22k (to cover taxes, etc) and when you smash it you could get $21k.
As for branded titles, it all depends on what it is and how much your paying.
A 1993 Nissan 240sx or a 1988 Foxbody, who cares. Inspect it, if it's a good deal, buy it.
Cars that old a paint scratch will trigger a total loss payout.
A 2018 F150? **** No!
First that means there potentially was 40-60% in damages, so a ~$50k truck that's $30k in repairs.
Second, if you go to sell, you'll get Raped with resale value and struggle to find a buyer.
In the case of a car like a Cobra, also pass. Branded title destroys the value of that Vin, so you are better off just getting a super clean V6/GT and building it for the same money. Then at lest you know it's not a bondo job with all sorts of hidden issues.
A 1993 Nissan 240sx or a 1988 Foxbody, who cares. Inspect it, if it's a good deal, buy it.
Cars that old a paint scratch will trigger a total loss payout.
A 2018 F150? **** No!
First that means there potentially was 40-60% in damages, so a ~$50k truck that's $30k in repairs.
Second, if you go to sell, you'll get Raped with resale value and struggle to find a buyer.
In the case of a car like a Cobra, also pass. Branded title destroys the value of that Vin, so you are better off just getting a super clean V6/GT and building it for the same money. Then at lest you know it's not a bondo job with all sorts of hidden issues.
Depends what the car will be used for and of course price.
To potentially make money on? No. To drive? Yes. Frame damage is where I’d probably draw the line. That could be a headache.
The 2V that has my attention is a rebuilt car and doesn’t phase me one bit. I know who owns it and he wouldn’t put up with a halfass repair.
The question you asked has entirely too many variables to consider. If you asked 100 people you’ll probably get 100 different answers.
Pick your poison.
The 2V that has my attention is a rebuilt car and doesn’t phase me one bit. I know who owns it and he wouldn’t put up with a halfass repair.
The question you asked has entirely too many variables to consider. If you asked 100 people you’ll probably get 100 different answers.
Pick your poison.
This.
Seems most people own or buy a 03/04 Cobra because of collectability these days.
For driving enjoyment MOST people would opt for something newer as there are a lot better choices that would be fun to drive, and have have way better creature comforts.
If it was me I say the damadge would have to be minimal and one heck of a price. Then at that point its would be a good candidate to turn into a race car because you don't have to worry about value.
For driving enjoyment MOST people would opt for something newer as there are a lot better choices that would be fun to drive, and have have way better creature comforts.
If it was me I say the damadge would have to be minimal and one heck of a price. Then at that point its would be a good candidate to turn into a race car because you don't have to worry about value.
Well here's the perspective 03 DSG with 80k miles minor bolt ons $17k rebuilt title due to accident looking to use as daily driver. This is my second option first one is black 03 91k miles some bolt ons clean title $15k. Will be driving out to look at this coming weekend if all falls into place.
I would say it's a crap shoot between the 2 and depends on how well the salvage was rebuilt.
With that being said Buying a 17yr old car that is a rebuilt salvage or has 91k may not be the best idea. Just playing devils advocate here.
With that being said Buying a 17yr old car that is a rebuilt salvage or has 91k may not be the best idea. Just playing devils advocate here.
Rebuilt titles are not the worst thing. My 97 is a rebuilt title and it's perfectly fine. No frame damage, aligned perfectly drives and runs great. It was also 5k and has 27k actual miles on it. The car with a clean title is 10 plus.
My thoughts are roughly 60% to 70% of clean title value.
Sent from my SM-G955U using Tapatalk
My thoughts are roughly 60% to 70% of clean title value.
Sent from my SM-G955U using Tapatalk
Double post
Rebuilt titles are fine if you know what you are looking at/for. I have owned plenty over the years. I’m in the fortunate position where i can fix almost any hit at my body shop including paint so they are usually a very good deal for me.
It really depends on what you want the car for. Cheap DD? nice DD? Sports car/Muscle car? Basically, the nicer the car, the longer you will need to keep and drive it otherwise you are gonna take a bath on it.
The last one i bought was a 07 jeep commander sport in 2009. Got it with 31k miles for 7k out the door. I fixed the damage for 4k. I sold it in 2019 for 5500 with 132k miles. Never had a issue with it. Just general maintenance.
Point is you really need to keep the buy in and repair low and keep them awhile to really come out ahead or break even’ish. If its a car that you plan on never selling and you know the history, buy in is low, go for it.
Sent from my iPhone using svtperformance.com
It really depends on what you want the car for. Cheap DD? nice DD? Sports car/Muscle car? Basically, the nicer the car, the longer you will need to keep and drive it otherwise you are gonna take a bath on it.
The last one i bought was a 07 jeep commander sport in 2009. Got it with 31k miles for 7k out the door. I fixed the damage for 4k. I sold it in 2019 for 5500 with 132k miles. Never had a issue with it. Just general maintenance.
Point is you really need to keep the buy in and repair low and keep them awhile to really come out ahead or break even’ish. If its a car that you plan on never selling and you know the history, buy in is low, go for it.
Sent from my iPhone using svtperformance.com
Users who are viewing this thread
