Think of buying an M3 with a Salvage

[GG///M3]

Well I have a friend who's thinking of selling his 97 m3 with a salvage title. It was stolen while he owned it. Its got somewhere around 50-60k miles, and afew good mods. What would you offer if you where in my shoes?

[bethestick3308]

Never buy a car from a friend, or anything else for that matter. That is the fastest way to becoming enemies.

[andrewmr]

It's not what you should offer him for it, it's what he will sell it to you for.......

Determine what the car would be worth without the branded title and then try to determine what the hit is for the salvage title. Some say it's as much as 50 percent but I think that's high. Call your insurance company to see what they would value the car at if it were yours and something happened to it.

I know you know him and have an idea of the history so it's a little safer to buy a salavge car in those situations but the guy that's gonna be buying it from you may not be as comfortable and will expect it to be priced accordingly.

Whatever you do go into the purchase with your eyes open and treat it as a business deal and don't drag your friendship into the transaction.

Good luck.

[Sven]

Unless you want to turn it into a track car don't buy salvage title. It will be worthless when you try to resale it.
If you do buy it don't fall into the trap of "I should offer my friend a good price cause he is uber cool and I want to donk his sister" because you'll be throwing money away.

[dakotabmr]

At least 30% off low trade in. Also be prepared to have a tough time selling in the future. Lot of other non-salvage cars available, especially if your willing to travel.

[elvirb87]

Unless you want to turn it into a track car don't buy salvage title. It will be worthless when you try to resale it.
If you do buy it don't fall into the trap of "I should offer my friend a good price cause he is uber cool and I want to donk his sister" because you'll be throwing money away.

lol

[GG///M3]

i was thinking of offering 8k

[BMWEM]

Unless you want to turn it into a track car don't buy salvage title.


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[TheNorthWaves]

If it has a salvage title, walk away. End of story.

[Mstngcobr761]

Yea I think i remember someone telling me its worth about half of the same car w/ a clean title... I almost bought an M with a salvage title... TY Carfax

[andrewmr]

Unless you want to turn it into a track car don't buy salvage title. It will be worthless when you try to resale it.
If you do buy it don't fall into the trap of "I should offer my friend a good price cause he is uber cool and I want to donk his sister" because you'll be throwing money away.




If it has a salvage title, walk away. End of story.


Let's play a "what if" game....

Let's say someone offered either of you guys a F430 that has a salvage title because every panel on the car had been keyed and the original owner had lots of pull and was forcing the insurance company to write off the car.

And let's say he was willing to sell you the car for 5 grand and you could get the car repainted for let's say 10 grand. Would you buy it??????

[NachoM3]

sorry for the hijack, but I have a basic question about salvage titles:

My friend has a 1990 3-series, and he was rear-ended about 6 months ago. The other driver was at fault, and their insurance company declared the car a total loss. Since it was still driveable, he took the money and bought the car back from them. He still has the original title from when he bought the car, and it hasn't been changed in any way to reflect the fact that the car was "totaled". First, should he have a salvage title? If so, who's responsibility is it to report things like this to the DMV, the owner or the insurance company?

kevin.

[andrewmr]

Kevin,

I think it varies by state.

When I bought my car back I had to take the title to the title office and have it changed before the insurance company would write me the check.

Once I showed the insurance comapny the paperwork they issued the settlement check and I then went and parted out the car.

[NachoM3]

interesting. I know he's gotten the money already, and when I asked him whether they had given him a salvage title, he had no idea what I was talking about...

[GG///M3]

If i did end up getting this car, it wouldnt my first salvage title car. My first m3 was a salvage title Flood car. It was a 95 with 120k on it in 2001, which i paid 11k for. At the time it seemed like a good deal. Now if you were going to buy this salvage title 97 with around 50-60k miles on it what would you pay? Btw its got ss header's, Tms light wt flywheel package, remus cat-back, AA intake with a tune, h&r race springs with bilsteins, and HIDS.

[keikun]

if you plan to keep it 4eva then yes but if you plan to sell it later forget about it.

[Sven]

Let's play a "what if" game....

Let's say someone offered either of you guys a F430 that has a salvage title because every panel on the car had been keyed and the original owner had lots of pull and was forcing the insurance company to write off the car.

And let's say he was willing to sell you the car for 5 grand and you could get the car repainted for let's say 10 grand. Would you buy it??????

An M3 is far from a F430, your "what if" game doesn't hold up. Try that game with a car of equal value, and then your answer is no. You can't trust what anyone says about a salvaged car.

[Don Nguyen]

It is like when you go to a casino to go gamble. Prepared for the worst, IE be prepared to take a total lose on everything if things do not work out in your favor. If you can handle that fact, then go for it. However, you are also gambling for that chance of you winning and coming out on top. It is just better to be prepared for the worst than to try to hope for the best and you end up in a worst situation than you are at now. Or you can pay the extra 5k or whatever it is and buy a car that is in good sound and working condition, for that extra insurance and sound of mind.

[andrewmr]

An M3 is far from a F430, your "what if" game doesn't hold up. Try that game with a car of equal value, and then your answer is no. You can't trust what anyone says about a salvaged car.

Sven,

Once again, you are wrong, the what if game does indeed hold true. The F430 is more valuable than the M3 and that's exactly why I choose it. Your original statement, and I quote, "It will be worthless when you try to resale it" is flawed when you start saying use cars of comparable value. If a salvage car is worthless then it shouldn't matter.

My point of the post (game) was to indicate that of course you would take the F430. Who wouldn't. There is indeed some value to those "branded" cars, you just have to find the meeting point of where the seller is happy and the buyer is happy.

Here's another way of looking at it. Lets assume you buy a salvage titled car that would have sold for 40K and because of the title issue you are able to buy it for 24K (60 percent). Now let's say 10 years go by and the car has depreciated 50 percent (arbitrary number). The car is now worth 20K and the branded title car is worth 12K. The difference is much less and the cost of ownership is significantly less.

Yes, it can (and should be) harder to sell that car when the time comes but that's part of the "cost" of getting the good price up front.

Now, where do I start with your comment ” You can't trust what anyone says about a salvaged car”. Buying a salvaged title car should be the same as buying a regular used car. Do your homework and check out the car. Now, in the OP post he stated he was looking at buying a car from a friend. I can trust my friends. If you can’t trust your friends perhaps you should get new friends…..

[95M3theo]

I guess it all comes down to what you need it for and how long you want it. My cousin bought a 97 M3 with 78k miles on it (salvaged) and he plans to ride it to its grave. My opinion if you want to sell it later on dont buy it but if your gonna keep it for a long long time buy it.

[GG///M3]

I guess it all comes down to what you need it for and how long you want it. My cousin bought a 97 M3 with 78k miles on it (salvaged) and he plans to ride it to its grave. My opinion if you want to sell it later on dont buy it but if your gonna keep it for a long long time buy it.

Yea if i do end up getting a salvaged m3 thats what i'll end up doing. Btw what color did you cuz end up getting?

[Getconnectedav]

Sven,

Once again, you are wrong, the what if game does indeed hold true. The F430 is more valuable than the M3 and that's exactly why I choose it. Your original statement, and I quote, "It will be worthless when you try to resale it" is flawed when you start saying use cars of comparable value. If a salvage car is worthless then it shouldn't matter.

My point of the post (game) was to indicate that of course you would take the F430. Who wouldn't. There is indeed some value to those "branded" cars, you just have to find the meeting point of where the seller is happy and the buyer is happy.

Here's another way of looking at it. Lets assume you buy a salvage titled car that would have sold for 40K and because of the title issue you are able to buy it for 24K (60 percent). Now let's say 10 years go by and the car has depreciated 50 percent (arbitrary number). The car is now worth 20K and the branded title car is worth 12K. The difference is much less and the cost of ownership is significantly less.

Yes, it can (and should be) harder to sell that car when the time comes but that's part of the "cost" of getting the good price up front.

Now, where do I start with your comment ” You can't trust what anyone says about a salvaged car”. Buying a salvaged title car should be the same as buying a regular used car. Do your homework and check out the car. Now, in the OP post he stated he was looking at buying a car from a friend. I can trust my friends. If you can’t trust your friends perhaps you should get new friends…..

exactly

[ultimachi]

Ok, alot of you guys see salvage and you get sand in the vagina. It really depends why it was salvaged. It was stolen. He didn't mention any wrecks or damage to the vehicle. It was stolen. Someone else drove it. Maybe the ignition was ripped out. If he can get the car for 50 percent of what an M3 in similar condition would cost then I'd say it's an awesome deal.

[AlpinaM3]

Nothing wrong with a salvage title car as long it is not salvaged from an accident and you KNOW exactly what you are getting. Don’t pay too much for it, be willing to keep it. A salvage car with accident history and theft recovery get lumped in together to the general population. A friend of mine owns a shop and he buys them all the time from insurance auctions. Last one he got was a 2003 or 04 M3 SMG with 29k on it. All the body panels have the factory stickers on them and nothing is bent. It was a theft recovery. A couple of windows broken out and it would not start because the computer was shorted. When it would not start everyone got nervous at the auction but long story short, the computer was covered by BMW warranty so it got replaced. He paid $16K for it plus another $1K for windows. He is going use it for a DD and sell it in a couple of years.
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[M Wringer]

Nothing wrong with a salvage title car even if it was wrecked. I like that "sand in the vagina" ultimachi used because he is right on about how some view salvage title cars. Let's say you have a '98 M3 with rear damage; but the suspension and unibody are untouched save sheet metal damage, bumper, lights, etc. The price to repair the car less present unwrecked value is more than low book. Car is saved and title is still clean. Let us say there is the same damage to a 95 M3. The price to repair the car less present unwrecked value is less than low book. Result:salvage title. What is the difference? About three years. NOTHING else. Yes, there are other M3s out there untouched for more; but they are still used cars. Nothing more, some worth less, but; just as my sales manager used to say "used up cars". I have 95 that has a salvage title. It was salvaged because of the scenario I first mentioned. Got it for $7K. Had 82K on it. Came with all the bonus pieces save the BEX cylinder head, throttle body, chip (came with a Turner-Comforti),and Euro cold air kit. Was offered $12K last summer and said "No way, having too much fun with it". Look, cars are nothing but sheet metal/plastic with motive power. Some are just cooler than others. Do some careful checking and there are some nice salvage title cars out there for less than half of what some have paid for the same car. The one that started this thread is one of them. In a few years when they are used up even more, the difference is not all that much. Pay $12-15K for a clean title 95 M3 and drive it four years and sell it for $10-12k. Pay $7K for a salvage title 95 M3 drive it four years and sell it for $8K, based on what I was offered last summer. Hmmmm. Who got the deal? Yes, salvage title cars sell. Yes, their "value" is less than a clean title car. We sell them all the time where I work and have never had to take one back because of "problems". Why - we get them repaired properly and checked out by a BMW tech before they are offered for sale. This one is my third. Someone out there will buy my M3 when the time comes to sell it. Or, I may make a track rat out of it when I get my next M3. Hell, with all the stuff I have on it now, it needs a strip down of unwanted weight, roll cage, seat, safety equipment and I am there! Either way I choose to go with it, I still got a cool deal on a cool car. BTW. I have to pay for full coverage on mine to get the coverage I want and the payment is gasp!$700.00 a year!! Why? Other than over 35 and no accidents, no high point count on the license, multi-car discount, you guessed it: Salvage title.:)

[Leco]

If the car is in good shape you can buy it without a problem... But offer a low price.

[AlpinaM3]

Nothing wrong with a salvage title car even if it was wrecked. I like that "sand in the vagina" .................................................. .. a salvage title. It was salvaged because of the scenario I first mentioned. Got it for $7K. Had 82K on it. Came with all the bonus :)


That's what I am talking about. You got a brain in your head man! If you do this right it's FTW! One more thing about this as an anology. I trade stocks and I do margin, puts/ covered and short sales. I can make money in a down or up or sidways market. The guys who only know how to trade one way (buy and hold) can't seem to grasp what I do. This is the same thing. But I still can make money when when they are selling. In other words, there are all different ways to own something.

[victorvu]

Well imo i would buy it as long as maintenance is up to date and the frame is straight for the right price. I went through 3 salvage cars and it was fine. Also my brother has a salvage 528i and its fine no problems. my E430 is salvage no problems. I went through 2 tl type s and there was no tranny problem and they're known for their tranny problems. I took each of it up to 100k no problem. I would get it for about 7-8 whats the mileage?