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Insurance Claim or Rebuild Salvage titles are funny.
WIth a new car, they diminish the value by about $1000 and up (depending on the quality of the repair).
As the car ages, it becomes more of a question of comparing it dollar for dollar, because what is the difference between a car with the same miles, same features in the $4000 or less range? Not a lot.
I once heard someone saying "I'll have trouble reselling it". It was for a $2500 car, salvage title. In fact, it was a Volvo, a '90 with 110k as I recall. I was amazed that someone would actually be buying such a car for some kind of investment. Personally, I think when you step below a thresshold like $2500, you're looking at the throw-away variety of cars, not something that you're investing in.
But then again, everyone has their own expectations of a car, so I can understand that too.
The funny thing is, most people have a car, and most people consider themselves to be very well-informed about all things Automotive. They read the Sunday paper's Click & Clack, Consumer Reports, buy manuals that tell how to purchase new or used cars, and so on. They get their oil changed regularly (or say so). But when it comes down to it, most people really don't know a whole lot. Obviously this isn't true of a site like this, where people are actually making an effort to learn more about a specific car.
The most frustrating thing for me is running into people who say "I don't want it because it's been hit". Then they run out and buy a car with a clean title, that I saw go through an auction a couple of months before, looking like someone had lived in it. A nice clean-up job, engine clean, three oil changes to get the sludge out, and it's set to go. "Well Maintained." And most people believe it.
Even more, there's a guy around here who sells a lot of Volvo, M-B, and other good product out of his house. They're all in the neighborhood of 90-110k. I mean, a few every week. You start to recognize the telephone numbers. Now, I know enough about the wholesale market to know that there isn't a steady supply of vehicles running through. There isnt' a hidden market for the stuff either. They're just cars from outside the smog reporting areas, that can't be verified for mileage, or are verified only to a certain number of miles and then it turns into a mystery. I think most of them sell, too, for pretty large prices.
Anyway, this is getting long. Thanks for your response!
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Chris Herbst, near Chicago, IL. 93 940, 91 240, 90 240, 88 740, 87 240
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