jlurton

In my search for a 2007 CLK63, I came across what turned out to be a nice one with 18k miles and a salvage title. The owner went over the damage with me and it didn't seem too bad. It looked like everything was exterior skin. I know these types of accidents can add up quick because I was rear-ended in my CLK last year and if all of the damage was realized on the original inspection, my car would have been totaled and become a salvage by my insurance company. The car was repaired without issue and everything has been fine since then.

So how do you come up with a price for a car like this? Half of KBB? Is it true that dealers won't service a salvage title car? (I read that on here) If the price is reasonable, I'd have the car inspected by both a mechanic and body shop.

Thanks for any help

HCUBED

Precautions to Take When Buying a Salvage Title

Although some buyers can get good up front prices when they buy salvage title vehicles, it is often a dangerous proposition. Here are some of the main reasons buyers have to be careful when trying to get a deal on a salvage title car or truck.

• Financing.Many lenders will be wary of loaning money for a salvage title vehicle because of its dubious value and history
• Hidden damage. The generic aspect of a salvage title and vague state requirements can make it tough to know what is truly in a vehicle's history. CARFAXchecks and similar research only provides part of the story. Always conduct a thorough visual inspection to try to spot flood or fire damage
• Lack of coverage.Some drivers wanting to purchase salvaged vehicle titles find that their common insurers will not cover these vehicles, or will only cover them at very high rates. Again, this has to do with problems regarding accurate values for a salvage title car or truck
• Insurance claims.Another problem with ensuring salvage title vehicles is that an insurance company may not pay much in the event of a claim, contending that because of its salvage title status, the vehicle is not worth much on the market
• Subpar repair. Another issue with salvage title vehicles is that the buyer may not be able to tell how the vehicle has been refurbished. All car parts are not equal, and using cheap parts creates a lower value vehicle and a greater chance for problems on the road

HCUBED

Here's something else to consider:
No Resale
Drivers who want to benefit from a salvage title sale often forget about reselling the salvage title vehicle. They will drive this car for the rest of its useful life. Here's the basic idea: any used car is only as good as its functionality or getting you from point A to point B. If a salvage vehicle does that for x number of years, the driver has saved money.

jlurton

Thanks for the feed back. I'm trying to work through all of those issues now.

Anyone else have any others thoughts on how to price this kind of car?

Thanks

JonMBZ

Dealers will service anything. Salvage titles do void the factory warranty though.

City Rat

Good advice in this thread. As others have said if you plan on driving this cat for the rest of your life then you have saved money as long as you don't invest money in it. Personally I would only by a vehicle with a salvage title if I was restoring a vehicle and needed a donor parts vehicle for parts. Even then I would do a thorough visual and mechanical inspection of the donor to make sure that the parts that I needed for the restoration were in working order. Any parts not used in the restoration would be sold. Good luck.

jlurton

Thanks for the advice. I'm still digging through the details. If I get the car, I'll let everyone know.

HCUBED

It cracks me up when people use the word "invest" or "invested" or "investment". To "invest" indicates the expectation of a financial gain........is it now worth more than when it was new?
Maybe 'sink' money would be more appropriate.

Redcab

I too am shopping for a CLK 63 and I appreciate this thread and the posts it has generated. I saw the listing for the salvage title and passed. For me, I can only afford to do this once...if I get a money pit there will be no easy recovery.

Anyone with good insight about a CLK 63 buying decision is encouraged to send me a PM. I'll be grateful for the education.

jlurton

So I passed on the salvage title car. The owner wasn't willing to come down enough on the price for me.

I did get some good info from a loan underwriter that will finance some salvage title cars. The most they will finance is 70-80% of NADA value.

That being said, I am now the proud owner a 2007 CLK63, just not a salvage title one.

Redcab

CONGRATULATIONS! PM sent

Jim's500E

Salvage titled cars are worth about half their present book value...

I'd would figure the expensive/exclusive bodywork did that car in...but who knows what really happened under the skin. Maybe it is a good buy and was only cosmetic damage?

Darren_0203

If the damage was enough to total that car it was not just skin. The seller was lying. Good choice.