jigmoore

hi, i'm new to the forum...about to buy a 1966 mustang. not a collector, or all original...just a nicely done red with black cordova top california daily driver coupe that's been slightly lowered, modern wheels, low profile tires with the 289 2v automatic. not a spot of rust, nice paint, starts, runs, drives, steers, brakes great. everything works on it. exhaust just sounds delicious.

the small used car dealer was asking $8500....i made him an offer at $7600 and was ok with that. he went back to the office to check if he could do that and was very up front that he realized it had a california salvage title. he actually acted a bit surprised. there was no fancy talk...no hemming and hawing...he just said he would have to call state of michigan and see what he can do - if anything. he would then call me back.

i have looked around at other mustangs...but none really attract me like this one. so it's not as simple as just 'go find another one'. i plan to own it at least for a year or two...see if i want to keep it...then either keep it or sell it somewhere around the price i bought it. not trying to make a profit on it or anything.

the question: how much (if any) does a salvage title affect the value of this car.

sschanz

Wonder why it has a salvaged title??? Just hoping that their isn't more issues that perhaps you can't see. This would be a huge negotiating point!

jigmoore

i assume it was in an accident and was repaired. i had already accepted at $7600 that the car was being bought as it sat...with no history...or matching numbers, etc. it just is what it is, right now. a nice little mustang that will be checked out by my buddy master mechanic.

so, to me, the salvage title doesn't devalue it at all...but do you think it would to the general buying public if i were to resell it? and if so, how much?

TexasAxMan

Salvage title means that it was once considered a "total loss" by an insurance company. Given the little value insurance companies place on these cars ("it's a 40 year old Ford"), it could have been anything. On a newer car, I'd definitely pass, but on this one I could go either way.

I've also heard, but cannot confirm, that transferring a title to another state will sometimes get rid of the "salvage" on the title. I don't know if Michigan keeps the "salvage" status or not, but I'd check.

In general, a car guy will shy away from a car with a salvage title, but someone just wanting to own a cool car may not. You could have serious problems selling it later.

jigmoore

good point that a classic collector probably wouldn't be interested...so i guess future potential buyers would be limited to joe-shmos like me that just want to own and drive a cool looking car. (here is a link to a pic of the car if it helps at all)

http://img515.imageshack.us/my.php?i...g2599small.jpg

stangtjk

I personally wouldn't have a big issue with the salvage history but a lot of people do. I'm surprised its setting on a dealers lot. I had a salvage car once and no dealer would even bother looking at it after they knew it was a previous salvage vehicle.

jigmoore

that's the same thing a friend of mine said who's father and brother had a mustang restoring business for quite a few years in waterville, oh. he said no problem...salvage title didn't bother him at all. these type cars are going to have tons of stuff replaced on them over their lifetime anyway....it doesn't matter to him if it's because of rust, or because of crash damage...all the same.

btw, this dealer is a little rinky, dink, one man classic car operation on the 'other' side of town. cool cars (darts, belvedere, fury, chevelle, vette)...but none true restore jobs.

KMatch

Before buying, take a magnet to it and check for bondo or worse. I wouldn't walk away finding some here and there, but with a salvage title, it may be more plastic than metal. A fella around here makes play money rebuilding salvage cars. I've seen his work close up and wouldn't touch one.

2+2GT

I once had a fairly rusty car that got creamed by a girl running a stop sign. I bought a stripped but rust-free shell from Arizona and combined them. Presented a FL title for the rusty car, and AZ salvage certificate to a PA auto tag agent, and a few weeks later I had a crisp new A title from PA. Mostly you just need to know what paperwork to fill out. Unless this car is a "bondo queen" (with apologies to Bondo™) you should have no problems, assuming the salvage title is in order.

nassaubayman

That is not necessarily true. I just bought a '67 Convertible that had a salvage title. Its the one in my signature picture. In the case of my car, a previous owner replaced the driver's side inner fender. That's where the VIN is located on these cars. Since the VIN is stamped on that inner fender, you're required to report the removal of it to the state (although I doubt I would have). A new VIN was assigned by the state of Colorado and riveted to the body inside the door opening. The title given to me had "Rebuilt from Salvage" on it.

When I transferred the title into my name (in Texas), I received a title with the new VIN, but no Salvage designation.

I got my '67 coupe for $10,500. With a clean title, the car is worth twice that. It was worth it to me because I bought it to keep. If I was buying it purely for investment, I would not have bought it.

As far as your offer is concerned.... you made you offer based on the assumption the title was clean. I think you have ammunition to negotiate a lower price.

You also stated you would keep it for a year before deciding on if you'd keep it longer. You will probably have problems getting your price because you'll be selling a car with a salvage title. If you don't plan on keeping it, you should take that into consideration.