Value of a TT with previous damage?

[El Duderino]

Hello, I have been looking at my options for picking up a late model 996 and have come across a 2002 TT with a salvage title. I have seen pictures of the car before it was repaired, and it didn't look too bad. The car had no frame, drivetrain, or engine damage and has 7800 miles. It has been repaired and looks and drives perfect as far as I can tell. Of course I would have a complete inspection performed before I would pull the trigger on a car like this. The guy that owns the car hasn't decided what he is going to ask for it, but I'm hoping it is low enough that I can afford it. My questions are: 1. How much should a salvage title depreciate the car? 2. Will anyone lend on a salvage title? 3. How difficult will it be to sell or trade the car at later date? Thanks in advance, El Duderino

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[ben, lj]

not enough info to even guess. is it a total repaint? if it wasn't "too bad" why was a $100k car salvaged?

trade in will be BRUTAL (if even existent). the selling dealer will send it straight to auction because they can't put that crap on thier lot. also, you're likely to find the car warrantyless for many items. if you're buying a car in this condition because of finances, you sure don't want to get stuck with a bunch of non-warrantied repairs.

[El Duderino]

The front end body wise, one door, windshield, two wheels, and all airbags have been completely replaced. The rest of the car was not damaged or painted. The guy that owns it bought it back from the insurance company after they totaled it. He said their estimate to repair was way too high. The owner said that when the adjuster went to look at the car and saw it was a Turbo, he seemed predetermined that it was totaled. The adjuster told him that the airbags would be $2000 each (x4?) but they ended up costing much less. This guy is being very straight forward and has volunteered pictures, receipts, etc. He comes across honest. BTW, approximately what do the airbags cost?

El Duderino

[ben, lj]

what was the total repair $?

[El Duderino]

I don't have the receipts yet, so I have no idea. He just commented that it was much less than the $25,000 the insurance company estimated.

I would have thought it would take much more than $25K to total a 2002TT?

[ebaker]

I considered a repaired salvage title car in April. There is no warranty on a salvage title car and it is difficult to get a loan. This was a black 996tt with front end damage in California. He was asking $70k, with no takers on ebay or another for sale site. I didn't have time to go look at it, but it was tempting. In the pictures it looked like a good repair. The front was pushed in, and the front hood and fender were buckled.

[Accomplice]

High mileage 2001s with clear titles have gone for $68,000. I take it this one should be $50K or less?

Kevin

[Stryke]

When you ask how dificult it will be to sell later on, just look at what the seller is going through now trying to sell the car, and he is the original owner!

BTW, a friend of mine in GA gets car's title's completly cleaned down there with no traces of ever being salvaged so buyer beware!

[ben, lj]

"I would have thought it would take much more than $25K to total a 2002TT?"

indeed. that smells funny.

"High mileage 2001s with clear titles have gone for $68,000. I take it this one should be $50K or less?"

i had a $45k car with $14k of repair done at the best place in town. the value of the car was appx $26 to $30k post repair. if the TT is worth $80k pre $25k repair, i'd say a maximum would be $55k. if it's truly $68k pre-repair as mentioned above, it's probably closer to $43K post. keep in mind too some have rec'd $70k bills for replacement of their out of warranty TT motors!

[20C4S]

airbag on the steering wheel is around $500.

if u want to buy the car i'd say be very careful. no matter how honest is the seller but the problem is the car. if i were him i'll be very honest because i need to get rid the car.

the best thing is to find a salvage car offered by dealer. i know it sounds hard, but a friend of mine leased (very good deal) a salvage 02 M3 & he is really happy with it. even though the frame was damaged but the car was still covered by warranty. plus he just want to have fun with it & not to keep long. having said that, are u plan to keep the car for long?

[flatsixnut]

Quote:
"BTW, a friend of mine in GA gets car's title's completly cleaned down there with no traces of ever being salvaged so buyer beware!"


Nice friend.

[El Duderino]

Any 2002 TT that I have seen seem to be selling for $95K+. Using $95K as the undamaged price for a 2002 with 7800 miles, what do you think the salvage price should be? I just want to be prepared to counter if I think his price is high.

ebaker - What year was the salvage TT that you considered buying for $70K?

Stryke - The owner has not tried to sell the car previously. I am the first to look at it after the repairs. He wasn't even sure he was going to sell it.

[Chordate]

If the prices you are finding for '02's are 95 and above, you are looking at the wrong places. You can get '02's in the mid to upper 70's with hight milage. (A 40k mile 02 is worth 73 grand). If the 2002 car was 125k msrp, has 7800 miles, and in excelent condition, it should go for 90 or a little above.

[Stryke]

Originally posted by flatsixnut
Quote:
"BTW, a friend of mine in GA gets car's title's completly cleaned down there with no traces of ever being salvaged so buyer beware!"


Nice friend.

I should rephrase that! He is technically the brother of a guy who works with my brother. It was too long so I said "friend". Met him once, but he owns a body shop and does this all the time with salvaged cars.

[2kuhl]

Why mess with it? If you have limited dollars to spend, I say spend them on what is worth that amount of money. Buy an older model with a clean history and solid owner maintenance.