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How to assess value of a salvage title car?

Mermaidman

Mermaidman

Diamond Member
I've been thinking of buying a 'beater' that could haul bulky items and consume less fuel. Decided that a Protege5 would be ideal. The only bad things are
-Underpowered engine, especially if auto tranny, but this goes in hand with fuel economy, so I'm not that concerned.
-Although it's a wagon, it's not very spacious. How does it compare to Mazda3?

This dealer is selling a 2003 Protege5 with a salvage title for $5K. What do you car-expert wannabes think?
http://www.shamburgautosales.com/detail-2003-mazda-protege-1629221.html

I also thought of getting an old pickup, but those have an insanely high resale value.

Poll added

edit: Oh well, too late. Someone bought the car on eBay with B.I.N. for $5K. I'll hold out for one with manual tranny, and hope there's one that hasn't been abused by Boi Ricer.
 
I had a salvaged title car, when i totaled it, the insurance company paid out half of Kelley blue book. There is your answer. This happened to me three years ago.
 
I bought my Focus ZX3 with a damaged title, it only had 30,000 miles and got it for 3000. Not the best car around by any means, but cheap decent transportation.
 
I don't know if I qualify as a "car-expert wannabe" considering that I spent 10 years of my life making a living selling cars, but I would stay far away from a reconstructed title, especially from out of state. Can you do or pay for ALL repairs? There is NO warranty availiable for this car. What about frame damage, need new tires every 6 month? Who did the repairs on it? Retail value is about half of what the book says. Don't expect to get any dealer to take it on trade.
 
It's a kiss of death if you ever plan to sell/trade it. If you buy it, you will own that car untill it dies. Which is the other problem. You might never know exactly what the problem was. It could run marvelously for the next 100,000 miles.

It could need realligning every 3,000 miles and rust apart in the next 15,000. It might get a soggy drivers seat every time it rains. The paint might be discolored in a year or two.

You just never know.

I would certainly pay a very reputible mechanic and/or body shop to inspect it though and get their thoughts on the cleanup job that was done to it before buying.

 
Thanks for the warnings and info re: value. So it's about 50% eh. I'll go look at the car and see if the dealer would let me drive it 100 miles to my trusted garage to get it inspected.

Originally posted by: RiverDog
I don't know if I qualify as a "car-expert wannabe". . .
Click to expand...
You're overqualified 😛

 
Check out the video on Youtube from Top Gear (IIRC) crashing a salvaged and rebuilt Focus versus a clean title Focus. The damage difference is amazing.
 
Originally posted by: V00DOO
Just be sure it was not flooded. I don't how to tell if it was flooded thou.
Click to expand...

Usally there will be signs of mud where there never should be such as under the dash, inside the trunk, discolorations in the cloth areas, or some smells. Ya could look in the glove box for fish but they usally catch that :laugh: A lot depends on how good the cleanup was. I bought one before they were required to inform you of the title brand and it lasted about 6 months till it started rusting away. I went to change the radio and found dry mud in the dash area. That was my first clue.
 
Originally posted by: ViviTheMage
that is a butt ugly car imo.
Click to expand...

BOOOOOOO!!!!!!!!!!

That's a pic from a Mountain Run I did with a Mazda club out of Arizona. They were primarily MP5 owners.

(Don't mind that POS Predulde with the horrible body kit). I had the MZ3 in the middle.

🙂
 
Oh well, too late. Someone bought the car on eBay with B.I.N. for $5K. I'll hold out for one with manual tranny, and hope there's one that hasn't been abused by Boi Ricer.
 
Originally posted by: iamwiz82
Check out the video on Youtube from Top Gear (IIRC) crashing a salvaged and rebuilt Focus versus a clean title Focus. The damage difference is amazing.
Click to expand...

it was fifth gear and i think it was the 1st or 2nd episode. yeah that was insane. the difference is not huge... but it could cripple you for life.

as for a frugal cargo hauler, i think a used ranger would do. reliable and frugal.
 
Originally posted by: sniperruff
Originally posted by: iamwiz82
Check out the video on Youtube from Top Gear (IIRC) crashing a salvaged and rebuilt Focus versus a clean title Focus. The damage difference is amazing.
Click to expand...

it was fifth gear and i think it was the 1st or 2nd episode. yeah that was insane. the difference is not huge... but it could cripple you for life.
Click to expand...

The outside wasn't bad, but the intrusion into the cabin on the salvage car was bad. You'd be lucky to keep your legs.
 
I have a Protege5 so my opinion would be biased. Insurance company (well, their assessors) are very good at determining the value of a vehicle. If they think it's not worth fixing, chances are it is not worth fixing.
 
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