Salvage Exotics - what % effect on value?

DON'T BUY SALVAGE CARS. Someday when you go to sell it you will wish you never bought it.

 

To answer your question I would say about 20% discount, depending on the Marque. If you must buy a salvage car, get as much information as possible. I would look for before and after photos, work in progress photos and repair bills. The more documentation you have the better you will sleep and the easier it will be to sell when the time comes.

 

It is not the % less that they sell for that matters.............it is the fact that probably 80% + of your target market will not have an interest in the car that hurts more.

 

I would say more than that, especially on an exotic. On a ford pickup, most people don't care that much, and are just happy to get a steal. Consider how picky exotic buyers are just with a car with minor paintwork, (I usually figure 10% market adjustment for a paintwork car), and I would NEVER even entertain the thought of buying a salvage or rebuilt exotic, even if it was "minor" issues.

Yes, you might get a deal, just like buying a Euro Ferrari, but it will be almost impossible to resell.

 

I would agree with you about the discount being greater than the 20 percent I initially stated. However, there are many exotics that are branded salvage due to very minor issues. Insurance companies often pay out claims for minor damages, even if the repair cost tens of thousands less than the payoff. In fact, there is a thread about this somewhere in this forum.
There was a 355 on the market a few months ago that had bottomed out, pushing the bumper into the fenders and bending them. The insurance company salvaged the car and paid out the owner. The seller had all repair records, photos of the damage, reciepts and even kept the parts that were replaced! The car sold in an hour for 42k...if I didn't already have one I would have bought it in a second. Who cares? I would have saved 30k... I guess some people are more concerned than I am about the title.

 

Exactly what I was thinking but I was thinking 95%.

Actually the phrase "saleproof" was popping into my head....

Tom W

 

Again, that seems like an exceptional case. As suggested above with proper documentation the car can be sellable but probably still at a discount.

Tom W

 

This ain't no 355.

Considering that an Esprit is basically a big piece of plastic with a few pieces of unobtainable easy to break stuff pop-riveted on, I don't think "salvage" would be a wise choice.

Gearbox parts are NLA and even the nice cars have had the piss run out of them.

It's a super fun car to drive but not what I'd recommend to own.

 

Nor me.....at any price just about.

Tom W

 

Esprits depreciate pretty hard. Salvaged esprits even harder. I remember seeing a very low mile 02 car that needed a rear bumper and some light fiberglass work in the high 20's. If you want to drive it a lot and it holds alignment, go for it. If you buy it at enough of a discount, resale should be alright. People are quick to say that they will not buy a salvaged car but there is always a number that makes it appealing. If you are comparing a 355 in good, driving condition at about $60k or you can get a very clean, well-repaired salvaged 355 for $30k, then you are probably going to be interested. People who buy salvaged cars tend to be buyers who are trying to buy cars that they could not afford at market price so the more appropriate comparisson is if someone who is looking for a 308/328 for $30-45k sees that they could buy a 355 with a salvage title for the same money, they are probably going to get pretty interested. Buy it right, use it well, and you should come out of it alright. Be prepared to keep it though.

 

I agree with what you said.

Another way to look at it is this: Buy it, drive it, enjoy it, and if you can't sell it, part it out and get your $$$ back.

 

I'm sorry, maybe I missed the point of this thread. If you are shopping Esprit why worry about a Salvage titled one? They are relatively inexpensive with good titles. Don't mess with Salvage unless the money is WAY right!
I mean, if you're shopping a 25K S4s with a good title why would you want to consider a 20K Salvage title one? Not worth the 5K in savings IMO. Now if that same car is being sold for 12K sign me up!!! LOL

EDIT:
Got to thinking maybe you have a line on one. Would it be possible for you to share the numbers(yr., miles, previous damage, price) so we can give you a better analization without giving away the whereabouts of your future toy?