?'s Regarding 1996 GTS w/salvage title???

[01RedCognacRT]

?\'s Regarding 1996 GTS w/salvage title???

Howdy Folks,

First post here although I have been lurking for some time now on these boards. I've come across a blue/white 96 GTS w 13k on the odometer, all stock sans exhaust. The owner has been totally up front about what was damaged and how everything was meticulously repaired. It has been state inspected but does carry a salvage title. The car was hit on the drivers hood, fender as well as part of the front suspension and all components were replaced by competent folks from what I can tell so far. It did also require a some laser frame alignment work. Recalls have been done, not sure on TSB's yet. I plan on taking a close look @ the car over the weekend.

I know many are leary of purchasing anything which has a salvage title but if everything checks out during the inspection process what would you consider to be a fair market value? He is asking 40k which I know is high considering the salvage status. Thanks for your assistance...

Regards,

-Dave
1993 Black Cobra s/c
1996 Mystic Cobra

 

[Casey]

Re: ?\'s Regarding 1996 GTS w/salvage title???

Salvage titled Vipers don't carry the same value as Clean title Vipers. Which means you may be able to get a great price--just don't pay any type of premium because it has been fixed meticulously.
IMO, if it checks out with a SERIOUS inspection, and you are buying it to DRIVE the Crap out of it, then buy it, if the price is right!
If you are thinking it will increase in value in the future, then stay away!
But why not pay more for a clean one that has been well taken care of?

 

[99 R/T 10]

Re: ?\'s Regarding 1996 GTS w/salvage title???

For just a little more, you can get a 96-97 with a clean title. I wouldn't pay anything over $32K for salvage, and only if it is perfect. Look around in the classifieds and autotrader.

 

[Gerald Levin]

Re: ?\'s Regarding 1996 GTS w/salvage title???

I wouldn't pay anything over $30K for that car. At $40K you are getting close to buying a 96 with a clean title. The seller is dreaming but may get lucky finding some rich schlub, that is not internet savey, that could fall in love with the car and overpay. You just don't want to be an owner of that car at $40k or anything close to that.

 

[sachin]

Re: ?\'s Regarding 1996 GTS w/salvage title???

What would an 01 RT/10 that had minor front damage (airbag went off and some support damage) now all fixed but has salvage title w/ 13k be worth? Also how much do you think an 00 GTS grey/white stripes is worth? It has similar k's to the rt/10 but very clean, no accidents or anything

 

[RX VIPER]

Re: ?\'s Regarding 1996 GTS w/salvage title???

Mystic Cobra
Where are you? My first '96 was totalled last Sept with the damage you are describing and had 12K on the odo. Humm.. might be it? Anyway, I'd say 35k max if everything checks out ok. If possible have a Viper tech at a dealer put it up on a lift for inspection and to check the frame. Good luck.

 

[SW]

Re: ?\'s Regarding 1996 GTS w/salvage title???

I wouldn't buy any car with a salvage title. That's why they call it salvage, the insurance co. established it to be too much damage to fix it.. Most banks won,t loan money on salvage title cars, you might have trouble getting insurance and it will be much harder to sell it. Pay more and get a nice non damaged car. The only way I would buy a salvage title car is if it was a theft recovery and I was using it as a race car or I was going to keep it for a long time.

SW

 

[dansauto]

Re: ?\'s Regarding 1996 GTS w/salvage title???

I wouldn't buy any car with a salvage title. That's why they call it salvage, the insurance co. established it to be too much damage to fix it.. Most banks won,t loan money on salvage title cars, you might have trouble getting insurance and it will be much harder to sell it. Pay more and get a nice non damaged car. The only way I would buy a salvage title car is if it was a theft recovery and I was using it as a race car or I was going to keep it for a long time.

SW

Blah, blah blah... You WILL NOT have trouble getting insurance, banks will loan you the $. You would be suprized at some of the vehicles I see that were "salvaged" Yes, some are hacked and put back wrong and others are perfect. Your statements about are 1/2 truths and it ****** me off. If you have the car checked out by a repatuable body man. When I fix a car, I also take before and after photos showing the damage and what I had to do to the car. yes a salvage car is not going to be worth as much as a clean title, I sell salvage vehicles for about the wholesale price of a clean title. If you could get this car (and its check out by a good body man) for $32-$35K your doing fine.

 

[01RedCognacRT]

Re: ?\'s Regarding 1996 GTS w/salvage title???

Thanks for the advice guys.

"If you are thinking it will increase in value in the future, then stay away!
But why not pay more for a clean one that has been well taken care of?"

-I'm not really concerned on the resale value and it is true as you say for a bit more, say mid 40's one can find a clean titled one. I would only pursue this if the inspection checked ok and the price was right.

"Where are you? My first '96 was totalled last Sept with the damage you are describing and had 12K on the odo. Humm.. might be it? Anyway, I'd say 35k max if everything checks out ok. If possible have a Viper tech at a dealer put it up on a lift for inspection and to check the frame. Good luck."

-CA here. I would definitely want a Viper tech to look @ it as well as a second opinion from a good bodyman. A compression test as well on the motor.

"Most banks won,t loan money on salvage title cars, you might have trouble getting insurance and it will be much harder to sell it."

-My bank so far has said it would be fine. Ins Co. just wants proof the repairs were done and it was State inspected. Only $800/yr w a 500 ded!

-So the consensus seems to be between 30k-35k on this vehicle. I wonder how much the dealers are willing to pay for something like this? I'm just trying to determine how much of a bargaining margin I have to work with.

 

[dansauto]

Re: ?\'s Regarding 1996 GTS w/salvage title???

I am a dealer. If it was clean I would try to buy for less than 30. I just bought a 01 with 25K miles for less than 40

 

[PRVT JET]

Re: ?\'s Regarding 1996 GTS w/salvage title???

I bet you would never let go the'01 for less than 50k. That's how dealers are, they want your car for nothing.

 

[Big Medicine]

Re: ?\'s Regarding 1996 GTS w/salvage title???

I'd offer 25 today, then go back in 6 onths & offer it again.

 

[joe117]

Re: ?\'s Regarding 1996 GTS w/salvage title???

The following, we know.
If it's a good car that has been fixed properly it's still worth less than the same car that has not been wrecked.

The question is, how much less.
I think that when we start talking about a great looking/driving 96 GTS with fairly low miles, we run into a problem.
Undamaged, the car could be had for, say $40k. Now I can tell you that if someone put an ad in a major newspaper in CA, offering the car for $35k, there would be more than a handful of buyers. That's just too low for a great looking/driving 96 GTS even with a salvage title.
So I contend it's worth more than $35k.

What I'm saying is that there isn't much room to knock down the price of this car because of the salvage title. There are too many people who would love to have the car and would be glad to buy it for $5k less than regular price.
So if you asked $2k or $3k less, you could probably find one buyer.
You might even find a buyer at $40k.
I'd say it's sellable at $38k easy.

 

[MichaelP]

Re: ?\'s Regarding 1996 GTS w/salvage title???

Well considering you can get 96 GTSs for 40K with about 15K miles IMO he is WAY over priced.

 

[thebigsnake]

Re: ?\'s Regarding 1996 GTS w/salvage title???

When it says REBUILT on the title, is that what you guys mean by salvage? We don't have the same thing up here in Quebec.

 

[JDR]

Re: ?\'s Regarding 1996 GTS w/salvage title???

MysticCobra,
Where in California? Maybe you can get someone from the local club to give you a "bias" opinion.

 

[Kevin Stitely]

Re: ?\'s Regarding 1996 GTS w/salvage title???

Forget about the opinions of others. If the car checks out and your happy with the fit and finish...so be it. Go buy the car and have fun!

 

[SW]

Re: ?\'s Regarding 1996 GTS w/salvage title???

Blah, blah blah... You WILL NOT have trouble getting insurance, banks will loan you the $. You would be suprized at some of the vehicles I see that were "salvaged" Yes, some are hacked and put back wrong and others are perfect. Your statements about are 1/2 truths and it ****** me off. If you have the car checked out by a repatuable body man. When I fix a car, I also take before and after photos showing the damage and what I had to do to the car. yes a salvage car is not going to be worth as much as a clean title, I sell salvage vehicles for about the wholesale price of a clean title. If you could get this car (and its check out by a good body man) for $32-$35K your doing fine.

[/QUOTE]

My statements are what I have experienced with other people in my area. If it ****** you off, I care , I was just giving my opinion. I never said you couldn't get a loan or insurance, I just said you might have trouble getting it.
I have been a highline Dealer for over 20yrs, I don't deal in wrecked cars, so I don't have to make excuses, just remember you get what you pay for.....

SW

 

[Jerry Dobson]

Re: ?\'s Regarding 1996 GTS w/salvage title???

SW did have some good points. Some banks WILL NOT loan and some insurance companies WILL NOT insure these type of vehicles. This limits the resale. But if you can get a loan and insurance..then you are OK.

Salavage is when it costs $1 or more to fix the Viper than it is worth. Many people have access to used parts and can put them back together for much less.

My concern on Viper repairs is the square tube frame. Viper Frames are not to be straightened. They are to be sectioned or replaced ($8500 for the frame). Put it on a lift and look for frame damage.

 

[Lee00blacksilverGTS]

Re: ?\'s Regarding 1996 GTS w/salvage title???

Just remember.....Don't try and shop too hard to save that last $5000. Think of the mental process YOU are going through right now and realize that it will only be worse for the NEXT buyer. If you buy cheap, expect to sell even cheaper, and furthermore expect it to be hard to sell, very hard, especially after you run the miles up some more. Vipers are hand built, limited production exotics, at some point they will start to appreciate, buying one with a salvage title effectively eliminates you forever from having a good resale value, let alone any appreciation. There are only three reasons to buy this car to save 5-7k.

1. You're gonna race it.
2. You're gonna keep it forever.
3. You're gonna race it AND keep it forever.

If you can't answer yes to any of these questions, then consider the following analogy.......

Would you buy your next house because it was 10k cheaper than the one next door......reason being that hurricane Isabel hit it but it had been "rebuilt perfectly?" Think about it.......The value of anything you buy is always the difference between what you pay for it and what you sell it for. Going low on a purchase of damaged goods to save a few bucks will almost invariably cause you to lose even more when you sell the damaged goods later. To be more blunt...You can't polish a ****.

 

[joe117]

Re: ?\'s Regarding 1996 GTS w/salvage title???

Lee,
I agree that he should pass on the car. I wouldn't buy it unless I just had to have a GTS and this was the only way I could afford to swing it, sort of like Bonkers deal. You do what you can do.

I'm just saying that in trying to figure the price of this great looking/driving GTS, with a salvage title, we run into "price compression", I made that up. Here's what it means.
The undamaged 96 GTS sells for $40k.
The salvage, fixed 96 GTS sells for less.
The 96 GTS is a very nice looking desirable car. If it's on a dealer lot for $35k, it will sell right away. So it's worth more than $35k.

See, I say there isn't enough room for the car to be worth very much less than the undamaged version.
Due to "price compression", this car can only be worth a couple of thousand less because of the salvage.

 

[Lee00blacksilverGTS]

Re: ?\'s Regarding 1996 GTS w/salvage title???

Joe, I agree with that.

 

[joe117]

Re: ?\'s Regarding 1996 GTS w/salvage title???

Think I should add "Coiner of Price Compression" to my sig?
;-)

 

[Bonkers]

Re: ?\'s Regarding 1996 GTS w/salvage title???

Since you've already stated that you do not plan on selling the car later, it truely is a matter of heart. Numerically, you'll likely loose every cent you put into her, but if money isn't the long term issue then follow your instincts.

Also, like stated before, you're looking at a $30-35k car professionally rebuilt. I know of several rebuilts below $35k and if you hold your breathe for a week one'll likely pop up on ebay for less.

 

[YouWish]

Re: ?\'s Regarding 1996 GTS w/salvage title???

Since you've already stated that you do not plan on selling the car later, it truely is a matter of heart. Numerically, you'll likely loose every cent you put into her, but if money isn't the long term issue then follow your instincts.

Also, like stated before, you're looking at a $30-35k car professionally rebuilt. I know of several rebuilts below $35k and if you hold your breathe for a week one'll likely pop up on ebay for less.

Boy Bonkers that was one of the dumbest comments in a long time on this board. So your saying if a person pays 35k for a salvaged Viper and when it's paid off it will be worth no money it all? Wake up McFly!!!

 

[joe117]

Re: ?\'s Regarding 1996 GTS w/salvage title???

I think Bonk was talking about fix up and improvement money.
Only part of the money you pay for the car will be lost. You'll not likely sell it for more than you pay, that's for just about any car.

 

[Bonkers]

Re: ?\'s Regarding 1996 GTS w/salvage title???

So your saying if a person pays 35k for a salvaged Viper and when it's paid off it will be worth no money it all?

Nope, not what I was saying at all.

 

[Jay Herbert]

Re: ?\'s Regarding 1996 GTS w/salvage title???

I think Bonk was talking about fix up and improvement money.
Only part of the money you pay for the car will be lost. You'll not likely sell it for more than you pay, that's for just about any car.

35K+ is a fair price.

I also think bonk was talking about upgrade dollars.... which are pretty much only worth twenty cents on the doller even on perfect cars.... you see it in the classifieds all the time... invested $104K, asking 60K OBO......

Many around here will Diss salvage title cars, but if redone properly, they are an inexpensive way to get a fun car. Specially when you consider that for some buyers the difference between 35K and 40K is HUGE. If a person can find a clean car and afford it, they should buy it. If not, a good rebuilt car is a viable option. A good running salvage title '96 GTS with a good body could be parted out for a nice profit for what some here say it is "worth". That is the beauty (and the beast) of a Viper.... it's parts are pricey.

As a person that was into Shelby's before I fell in love with Vipers.... This topic sort of make me chuckle... as it seemed that nearly every Shelby had a story involving intimate knowledge of an immovable object.

 

[cratica]

Re: ?\'s Regarding 1996 GTS w/salvage title???

I think most people only buy one salvaged car in their life (if that). There will be exceptions, but it's rare.

Reason is, is because after owning one, you will realize how many things can go wrong and all the little annoyances that come along with a rebuilt car. Excess tire wear, noises like squeaks, rattles, groans and moans, constant alignments, pulling to the left or right, etc.... Every person I know (including myself) who have owned a rebuilt car (car that has been seriously wrecked) have passionately regretted it. A rebuilt car will NEVER be the same, regardless what some people might tell you (the seller, a rebuider or someone who sells rebuilt cars).

The peace of mind of driving a high performance car over legal speed limits and wondering if it was fixed correctly is worth more than $5,000, or even $10,000. It's probably priceless. Which is why I will never, ever buy another rebuilt car. If a car has any frame damage or even suspension damage, stay far away.

I hesitate to put a price on what I would pay for it, because I just can't see buying it or any other salvaged
car.

Look around, on autotrader, there are good blue and whites for $40k and $42k. Plenty for under $45K (asking price). Pay the extra and get a good vehicle.

If you do, you won't regret it.

 

[dansauto]

Re: ?\'s Regarding 1996 GTS w/salvage title???

I think most people only buy one salvaged car in their life (if that). There will be exceptions, but it's rare.

Reason is, is because after owning one, you will realize how many things can go wrong and all the little annoyances that come along with a rebuilt car. Excess tire wear, noises like squeaks, rattles, groans and moans, constant alignments, pulling to the left or right, etc.... Every person I know (including myself) who have owned a rebuilt car (car that has been seriously wrecked) have passionately regretted it. A rebuilt car will NEVER be the same, regardless what some people might tell you (the seller, a rebuider or someone who sells rebuilt cars).

The peace of mind of driving a high performance car over legal speed limits and wondering if it was fixed correctly is worth more than $5,000, or even $10,000. It's probably priceless. Which is why I will never, ever buy another rebuilt car. If a car has any frame damage or even suspension damage, stay far away.

I hesitate to put a price on what I would pay for it, because I just can't see buying it or any other salvaged
car.

Look around, on autotrader, there are good blue and whites for $40k and $42k. Plenty for under $45K (asking price). Pay the extra and get a good vehicle.

If you do, you won't regret it.

Come drive mine, then see if you repart the garbage your spewing above.