Salvage Car - Should I even consider buying?
Hello all, considering buying my first beamer and becoming part of the community:
There is a US car that I looked at this morning and I have a few questions regarding Salvage Titles (2007 BMW 328i Coupe 16,000 KM). The guy selling it claims that the vehicle was in an accident 2 months after the original owner purchased it brand new. He is not able to produce any records from the shop that fixed it but claims that the damage was minor - apparently only the fender was replaced (according to the shop that inspected the vehicle for him).
I asked why was the car deemed a salvage when it was in a relatively minor "fender bender" and he stated that when a car is brand new and in an accident within the first year, the insurance companies in the united states will replace your car (or pay you out) to eliminate the huge depreciation hit after the collision.
Can anyone confirm this? I did a lot of digging and it looks like if an insurance company takes possession of a car, it automatically becomes a salvage (any one can confirm?).
Now he also claims that the warranty is still valid on the car until 80,00KM or late 2011.
Now a few questions:
1) Is there any way I can track down the shop that repaired this vehicle? Keep in mind that there is no central ICBC in California.
2) If an inspection comes out clean, is it worth taking the chance on such a vehicle assuming the price reflects the title?
3) Doesn't a salvage title automatically void any warranty? Perhaps the title records were never reported or checked by BMW.
4) Any other suggestions/comments to help me make up my mind would be appreciated.