how much would you pay?

[mkristo88]

hey guys, i know this has probably been brought up several times, and if so, feel free to ignore it..How much would you pay for a salvaged title 2003 V8 4runner sports edition with 110k miles on it. It's in perfect condition. new belts, water pump, no rust...Has pictures of damage and repairs..no bent frame. Everything is perfect(besides the title of course). This is in Indiana

Thanks!

 

[techno]

Is it this one?
https://louisville.craigslist.org/cto/5781382959.html

 

[jrm]

Before you consider buying a salvage titled vehicle

you need to make sure its financeable and insurable..

 

[mkristo88]

Is it this one?
https://louisville.craigslist.org/cto/5781382959.html

Yes! that's the one...checking it out in person too

 

[mkristo88]

you need to make sure its financeable and insurable..

I will pay cash, and it is insurable..Thanks for the reply

 

[duffdog]

I would definitely not trust the mileage number and not pay that much for it. Seems high, even by California rust free standards.

 

[nick_rabbo]

If everything looked good, I would pay no more than $5000.

I've always been open to buying salvage vehicles and that's just because I have experience in this department. But they key is to inspect and know what to look for. The good thing for you is that by default, a salvage title will bring down the value significantly because of bad perception even though sometimes the reason for a salvage title is very petty. That is why I would suggest $7900 is too high and it should be more around $5000. Make sure to inspect for all the claims he/she made about maintenance.

About the mileage, some people just drive leas than others. Personally, I drive a lot. On the other hand, my mother doesn't. She has an 07 Sonata and she got it brand new. So far, it's at 30k miles lol. In 2013, I bought a 97 Volvo 850R. It only had 80k miles on it after 13 years.

Good luck!

Sent from my E6683 using Tapatalk

 

[techno]

... a salvaged title 2003 V8 4runner sr5 ....

Just a minor thing if you're doing research on different trim levels and such, this one is a Sport Edition and not an SR5.

 

[mkristo88]

If everything looked good, I would pay no more than $5000.

I've always been open to buying salvage vehicles and that's just because I have experience in this department. But they key is to inspect and know what to look for. The good thing for you is that by default, a salvage title will bring down the value significantly because of bad perception even though sometimes the reason for a salvage title is very petty. That is why I would suggest $7900 is too high and it should be more around $5000. Make sure to inspect for all the claims he/she made about maintenance.

About the mileage, some people just drive leas than others. Personally, I drive a lot. On the other hand, my mother doesn't. She has an 07 Sonata and she got it brand new. So far, it's at 30k miles lol. In 2013, I bought a 97 Volvo 850R. It only had 80k miles on it after 13 years.

Good luck!

Sent from my E6683 using Tapatalk

Thanks a lot for your input! Salvaged vehicles are always so tempting bc you can find great deals if the accident wasn't too bad.
I was tempted to offer 7k but maybe I won't anymore. Thanks!

 

[nick_rabbo]

Thanks a lot for your input! Salvaged vehicles are always so tempting bc you can find great deals if the accident wasn't too bad.
I was tempted to offer 7k but maybe I won't anymore. Thanks!

Yeah I agree. Most of my cars have all been salvage titles. In reality, most cars have been dinged here or there over their lifetime, but most of them won't be claimed or pass through the insurer so even though they had damage, they stay clean title. So sometimes you will come across the same car with the same fender bender, one is a clean title that got fixed without the insurer. The other is a salvage title that got claimed with the insurer. Same exact damage, but the salvage will be way less valuable, I'll take that one please lol! That is if you don't intend selling it in future, then you'll be stuck with a less valuable vehicle.

The 4runner I got was purchased as a salvage title because the hood had hail damage lol, who cares. But it's exactly what I wanted, a 4th gen in gray with black cloth interior, sport model V8 with the 4wd. Only 130k and upon inspecting it before purchase, saw no leaks, no issues, engine cover had the date, mileage, and place of recent timing belt change, new battery from Toyota dealership, interior sticker showed frequent oil changes at Toyota dealership, maintenance looked good etc. All that made me confident in it and sure enough, I bought it from auction and drove it home. Been happy since .

Sent from my E6683 using Tapatalk

 

[mkristo88]

Yeah I agree. Most of my cars have all been salvage titles. In reality, most cars have been dinged here or there over their lifetime, but most of them won't be claimed or pass through the insurer so even though they had damage, they stay clean title. So sometimes you will come across the same car with the same fender bender, one is a clean title that got fixed without the insurer. The other is a salvage title that got claimed with the insurer. Same exact damage, but the salvage will be way less valuable, I'll take that one please lol! That is if you don't intend selling it in future, then you'll be stuck with a less valuable vehicle.

The 4runner I got was purchased as a salvage title because the hood had hail damage lol, who cares. But it's exactly what I wanted, a 4th gen in gray with black cloth interior, sport model V8 with the 4wd. Only 130k and upon inspecting it before purchase, saw no leaks, no issues, engine cover had the date, mileage, and place of recent timing belt change, new battery from Toyota dealership, interior sticker showed frequent oil changes at Toyota dealership, maintenance looked good etc. All that made me confident in it and sure enough, I bought it from auction and drove it home. Been happy since .

Sent from my E6683 using Tapatalk

Man, I wish I could come across a 4Runner like that! Hail damage to the hood lol. I'll take it. How much did you pay if you pay don't mind me asking?

 

[duffdog]

I find that most salvage cars are complete scams. Almost every 4runner I have seen has had monstrous frame damage and was repainted significantly with aftermarket body panels. This indicates that a shop was involved and is just trying to flip a known worthless car to an unsuspecting person. Also, I don't know the rules for other states, but in CA, the mileage on a salvage title car is not the "mileage", since there are no laws saying you can't roll back the mileage on a salvage title vehicle. For those reasons I am not going to buy a salvage title car ever again.

 

[nick_rabbo]

Man, I wish I could come across a 4Runner like that! Hail damage to the hood lol. I'll take it. How much did you pay if you pay don't mind me asking?

Pmed.

I find that most salvage cars are complete scams. Almost every 4runner I have seen has had monstrous frame damage and was repainted significantly with aftermarket body panels. This indicates that a shop was involved and is just trying to flip a known worthless car to an unsuspecting person. Also, I don't know the rules for other states, but in CA, the mileage on a salvage title car is not the "mileage", since there are no laws saying you can't roll back the mileage on a salvage title vehicle. For those reasons I am not going to buy a salvage title car ever again.

Damn that sucks. Yeah there are definitely bad stories out there. But that's the same thing with everything in life. If you know what to look for and how to look for it and proper mileage records, etc, you'll be in a much better position.

I had a bad experience too once. When I bought a Volvo S60R salvage title from an auction, I remember the first thing I had to do was replace the engine lol. But then again, that's when I was a noob and didn't know how to go about buying salvage titled cars. Heck, I bought it blindly from a computer screen lol.

Sent from my E6683 using Tapatalk

 

[Stuffman]

Personally for me, I take off 30% off the value of the vehicle for salvage. Also, check to see what the damage was that gave it the salvage title. Check to see if there is no frame or any damage to the engine and transmission. To me the drive mechanism is most important. If its pretty and drives sideways down the road is a no go for me - seen a car driving down the freeway that was crooked, it was funny.

 

[03v8raleigh]

For what it's worth.. I think that's a perfectly fair price. I paid $7800 for my 2005 v8 sport edition with 151,000 miles and clean interior and exterior but salvage title. Test drove it and bought it next day, because there were two other people trying to out bid me on it.. the market for these things is crazy where I am (NC). It was totaled from a rear end collision. The tailgate and rear bumper was replaced and looked good as new. Only remaining damage was the rear crossmember of the frame was totally bent. Had a buddy cut it out and weld in some 2x4" tube instead. $1000 in repairs total. Drove great and alignment went fine after. Good as new.
Only downside was that when I re-totaled it 2 months later (guy pulled out directly in front of me on narrow 2 lane), insurance only gave me $9k for it despite local market value being closer to $12k for clean title trucks. but if you plan to drive it for years, who cares.

That being said, always try to negotiate as low as possible on price. A $5000 4runner like that would be an incredible deal.

 

[mkristo88]

For what it's worth.. I think that's a perfectly fair price. I paid $7800 for my 2005 v8 sport edition with 151,000 miles and clean interior and exterior but salvage title. Test drove it and bought it next day, because there were two other people trying to out bid me on it.. the market for these things is crazy where I am (NC). It was totaled from a rear end collision. The tailgate and rear bumper was replaced and looked good as new. Only remaining damage was the rear crossmember of the frame was totally bent. Had a buddy cut it out and weld in some 2x4" tube instead. $1000 in repairs total. Drove great and alignment went fine after. Good as new.
Only downside was that when I re-totaled it 2 months later (guy pulled out directly in front of me on narrow 2 lane), insurance only gave me $9k for it despite local market value being closer to $12k for clean title trucks. but if you plan to drive it for years, who cares.

That being said, always try to negotiate as low as possible on price. A $5000 4runner like that would be an incredible deal.

Finally, someone in a very similar area with high demand for 4runners lol..Around here, they are also very hard to find for a good price, which is why i'm so tempted to buy this...I appreciate your input!!

 

[MFreund]

Just remember, a salvage title vehicle has $0 value if you try to trade it in at a dealership. Most won't touch them.

It wold not bother me, but I think the 30% reduction in value is fair.