Salvage Title - Would you buy?

[Minnie]

This may seem like an odd post on the budget board but the advise here many times has been spot on for financial decisions - so it seemed the best place to me

I am considering very different vehicle options and would like opinions. Current vehicle 2009 Kia Sportage 34,000 miles

- 2006 Mercedes SLK 350 convertible - salvage title - completely restored, 51,000 miles, loaded. This gorgeous little 2 seater rides like a pillow and has all the extras that I'm determined my next vehicle will have apx 17k

These are NOT salvage titles:
- 2011 Honda CR-V loaded 9k miles - 24k
- 2012 Honda CV-V loaded - new 29k

- 2012 Jeep Wrangler Sahara 2dr loaded - 28k - apx 20% off MRP
- 2012 Jeep Wrangler Sahara Unlimited 4dr - 28k - apx 20% off MRP

I guess my end question is would you purchase a salvage title vehicle??? And if not then which of the above is the better bet?

 

[dizluvah]

I would not buy a vehicle with a salvaged title. Given the info you provided I would buythe low mileage 2011 Honda CRV - the minute you drive the 2012 off the lot it depreciates

 

[DawnM]

I would not buy a salvage title.

What is wrong with the car you currently drive? Our newest car is a 2004, so a 2009 sounds new to me!

 

[DeltaDiamond001]

Don't go with the Mercedes. We previously had an SLK320 (I think it was a 2003 or something) and it was a piece of junk. It spent more time in the shop than it did in our garage or on the road. Not to mention, it is an incredibly small vehicle. I could never use it as a daily driver. There's barely room for two passengers, and forget about hauling suitcases, laptop bags, or pets.

 

[Minnie]

I would not buy a vehicle with a salvaged title. Given the info you provided I would buythe low mileage 2011 Honda CRV - the minute you drive the 2012 off the lot it depreciates

The only reason I was considering the Wrangler is the pricing discount that is available to me. Takes 20% off the top which accounts for 6-7k in savings.

I would not buy a salvage title.

What is wrong with the car you currently drive? Our newest car is a 2004, so a 2009 sounds new to me!

This is not necessarily a budget decision - I am just making a choice to purchase a vehicle with more options - heated seats, etc.

 

[Lehuaann]

I would only consider purchasing a salvage titled vehicle if it was going to be a cheap secondary run around car - like a work pickup @ $1,500 or less. NOT a primary vehicle.

 

[usnuzuloose]

I would not purchase with a salvage title.

 

[stitchlovestink]

Also be careful...
alot of insurance companies don't and won't insure a vehicle that has a salvage title and they can find that out from the VIN. And if they do write a policy, it will most likely only be for liability as it has already been totalled once. So when you are getting quotes I wouldn't hide this info because you might find yourself in a bit of a predicament if they initially issue you a binder but then issue a notice of cancellation because they find out it's a salvage title. And they can do that. At least in our state they can. Just don't want you to buy it and then have problems insuring it or having higher insurance premiums than what you were originally expecting because you had to go with a different company.
I personally wouldn't buy a salvage title with the exception of if it was my own vehicle that had been in an accident and totalled and it was not severe enough IMO to be a safety issue, but even then I'm not convinced it's a wise move.

 

[Bell30012]

A car with a salvage title could run into problems registering it in certain states. Now if it is a salvage-restored title that could be different. In Georgia, a vehicle with a salvage title can't be plated until it passes a restored inspection.

 

[BridgetBordeaux]

Unless your family is in the car business and you have an ace mechanic in your back pocket, skip anything with a salvage title.

 

[rock_doctor]

I wouldn't with anything you have listed. The new ones could be flood or storm victims and you will spend the rest of your life chasing electrical gremlins. I would skip the Merc while it is probably the best on the list, Mercedes does have a very bad rep for about the last decade for poor quality, while Merc has been bouncing on the edge of bankruptcy. Although, i understand they are back in the black (so to speak) and their quality has gone back to what it once was. I would only do a salvage title if it was a seriously old car late 1970s and older. It is old enough that it is made of heavy gauge steel plus no computer means you can fix it in the side of the road with a roll of duck tape. I would keep looking and keep an eye on dealer webpages. When you find one you like call them on the phone and get a real price. I bought my truck new like this and walked out the door spending $34k for a $55k truck. Consider a left over, the dealers will sometime clearance out left over models. When new the manufacturer cover the loan payments but after a time they shift loan payments onto the dealer. So the dealers become desperate to move cars that have been sitting on the lot for extended periods of time. Good luck...

If it is a "must do" then go with either of the Jeeps. They have real frames and your mechanic can check them out to make sure the frame and suspension is safe and sound. In addition, if the jeeps are salvaged titles i would be looking for more then 20% off. You can get 10-15% off new. I would be pushing for at least 30% or more (much more inho).

 

[cheap traveler]

I HAVE owned a vehicle with a salvage title. My Father is "in the business" and bought it wrecked and fixed it for me.

But, I would NEVER own a Mercedes, ever. They are over-priced and more often than not junk. (BTW, I am now in the business also, I am VP of a repair shop.)

I own a 2008 CRV, and am not very happy with it. It wears tires quickly, and the transmission has been giving me trouble (123K). They did make some changes in 2010 in response to the complaints, so it is probably your best bet.

And Jeeps also tend to spend a lot of time in the shop. My head mechanic owned one, just because of the lifetime warranty, but traded it in after a year because it spent way too much time at the dealer. Yeah the repairs were free, but he still needed his vehicle.

Of all your choices, the CRV seems to be the best. Even better than keeping the Kia, those soprtages are known for trouble.

Good luck with your choice!!

 

[Catira]

I have a friend that recently bought a salvage title car. They did a car fax and found that the only thing that had been involved in the accident was the front bumper of her car. She took it to a mechanic to check out the car and was given a thorough report. I was even amazed when she told me she had full overage on her car. I thought a salvage title did not qualify for full coverage.

This is a starter car for her son to use.

 

[marycaym]

I have a jeep commander w/a salvaged title, it has a replaced engine and had been fully repaired prior to purchase; we even had another mechanic check it out before purchase.

The price was amazing and I had no problem getting it fully insured in NJ w/progressive - full coverage.

The dealer we bought it from (he only sells salvage/restored vehicles and has been around for years) has a buy back program if it did not pass inspection, passed NJ inspection w/no issues.

I would not hesitate to buy another salvage title vehicle.

 

[Minnie]

Thanks everyone for the opinions. I went back and cleaned up the 1st post.

Only the Mercedes is salvage the 2012s are brand new and the 2011 is a one owner no damage clean title.

 

[*pixie*dust*]

If you are thinking of financing, I dont know of a single financial institution that will finance a salvage vehicle.

 

[Minnie]

If you are thinking of financing, I dont know of a single financial institution that will finance a salvage vehicle.

This will be a cash purchase and my state ins company offers full coverage. Hope that helps. I'm just not sure it's worth the risk.

 

[Dopey420]

I would buy a salvage title vehicle if it was a vehicle that I could work on myself. A newer model Mercedes is going to have a lot of computer controlled components so it would be difficult to service yourself without the right instruments and tools.

 

[Ciciwoowoo]

Buy a Jeep... Use your money to buy American!

 

[Timon_n_Pumba]

Also be careful...
alot of insurance companies don't and won't insure a vehicle that has a salvage title and they can find that out from the VIN. And if they do write a policy, it will most likely only be for liability as it has already been totalled once. So when you are getting quotes I wouldn't hide this info because you might find yourself in a bit of a predicament if they initially issue you a binder but then issue a notice of cancellation because they find out it's a salvage title. And they can do that. At least in our state they can. Just don't want you to buy it and then have problems insuring it or having higher insurance premiums than what you were originally expecting because you had to go with a different company.
I personally wouldn't buy a salvage title with the exception of if it was my own vehicle that had been in an accident and totalled and it was not severe enough IMO to be a safety issue, but even then I'm not convinced it's a wise move.

Your info re insurance difficulties is right on, but that's not why I responded...

Is your screen name "Stitch Loves Tink" OR "Stitch Love Stink"?