Salvage title Tacoma (or trucks in general)

Ownage · 11-28-2012, 12:54 PM

I'm personally not turned off by Salvage title vehicles, however I never bought one. I know people\places to get parts for good prices and do all work myself. I enjoy fixing up cars. I've seen insurance companies total out things that really should not be totaled. I've fixed several wrecked cars that would have been totaled out by insurance (did not report them) and was happy with them. I am looking at a 07 Tacoma 4x4 V6 with low miles (<50k) listed for ~$9,000. The price is low due to the fact that it has a rebuildable title. The reported damage is front end and it doesn't look too bad. If the frame is good I may consider it. The dealer will not let me test drive due to the fact that it is illegal to drive on the road but I can drive it on the lot. "The auction does not let you test drive, take it or leave it." (sellers words). This is turnoff to me.

While I may be personally happy with it, it will be hard to resell. Buying something for $9,000 and years later selling it for $500 means I spent $8500 where as buying something for $12,000 and selling it for $8000 a few years later means I spent $4000. These are hypothetical figures but you get the point.

What would be a reasonable offer on this? Is it THAT hard to sell salvage title Tacomas (will my only choice be to scrap it), or is there someone who will pay for it (although at a reduced price, just like I'm paying a reduced price)?

AFP520 · 11-28-2012, 01:05 PM

I'm not 100% sure how it works, but I would think if you ever got into an accident with the truck and it gets totaled, you're going to completely lose your ass on the deal because of the title. The insurance company isn't going to pay you anywhere near what you paid for it from the start.

I'd pass on it.

http://en.wikipedia.org/wiki/Salvage_title

Enola Gaia · 11-28-2012, 01:30 PM

(1) Welcome to CT!

(2) I tend to agree with Pip (that it might be best to pass on this ...). Unless you're willing to fix it up and drive it into the ground yourself you're probably only setting yourself up for a major loss when you either sell it or wreck it.

Ownage · 11-28-2012, 01:45 PM

Thanks! I did not think about the insurance hit.

The car KBBs at 15.5k in "fair" condition and 18k in great condition. If I can get him down to 50% of book (<$8k) would it still be a bad deal? Could I expect to sell it at ~50% of book later on?

I plan to drive it for many many years, possibly into the ground. I keep cars\trucks for a long time. I just hope that if I do resell it that my only choice isn't to scrap a good truck.

I know I will not get full price, I don't expect to. I am already paying half price, and expect only that from either a person or insurance.

Heres a pic. There are a bunch of photos but I don't want to download\reupload them all. imgur . com/UIWBL

Greg_Canada · 11-28-2012, 01:48 PM

There must be more wrong with it... water damage possibly>? Cause that will almost buff right out...

Ownage · 11-28-2012, 01:55 PM

He claims to have replaced all the panels and shot it with cheap paint. I'm skeptical as well. It still needs the radiator, condenser, and airbag. Won't know for sure until I look.

Flood is definitely a concern. I will be going over it VERY carefully and running reports.

Firdaddy · 11-28-2012, 08:18 PM

salvage title ='s 25% valve of the kbb... buying a salvage title vehicle and expecting to keep it for a long time till its not worth crap anyways is fine but if you expect to sell it any time in the next six or so years just pass on it...

Shakerhood · 11-28-2012, 08:59 PM

I would pass.

AFP520 · 11-29-2012, 05:47 AM

Here's the pic for all to see. What is that crap all over the front? Is that windshield shattered? I assume yes because you said it needs airbag.

I would definitely pass.

Enola Gaia · 11-29-2012, 06:05 AM

I noticed the same things, Pip. The hood / fender gap also seems a bit 'wide', and the fender / front door gap might also be a little 'off' (I can't tell much from this lo-res photo). The front bumper seems pushed in at the driver side corner.

This whole back story doesn't seem to add up. I'm not seeing anything 'total-worthy' here.

I've got a sinking feeling there's a lot more to see from another angle (e.g., a pic from the passenger side). Or maybe a lot more to understand with a more detailed explanation of what happened to this Taco.

Another thought ... This Taco may have a salvage title because of something that happened *before* the latest boo-boo.