Buy A 525i With A Salvage Title?? - BMW Forum - BimmerWerkz.com
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#1 (permalink) Old 12-05-2004, 03:42 PM
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I'm considering picking up a 525i that has a salvage title... Of course the price has been adjusted downward to reflect this situation. What sorts of things should one consider with such a purchase. Ideally, having a complete, detailed history of the original accident and repairs would be ideal but I think the person offering it for sale has owned it for a year or so and may or may not know this information!!
It got its salvage title in NJ it appears that each state has its own requirements for issuing a salvage title... maybe someone in NJ can shed some additional light on how complete the inspection is in NJ prior to issuing such a title (assuming there is an inspection).
Of course if I do end up with the car and know the resale value is shot but if it is a solid car I see no problem with driving it for many years (I think it has about 35,000 miles now)
Thanks
Ken
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#2 (permalink) Old 12-05-2004, 04:37 PM
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You got it....Resale Value. Get it for as cheap as you can and do your homework on this. Contact a lending istitution and see wahat they will finance for this vehicle w/salvage title. And I wouldn't pay any more than they will lend.

Speeking from experiance here....had 93' 5.0 w/salvage title and payed too much for it, even though I spent 5k less than for one without salvage, I still got f@#%ed in the end. The car was tight and reliable and was salvaged because all the interior was stolen. NOT WRECKED!

If this car was wrecked... I would definately do my home work.

A car with a salvage title is not worth shit...NO MATTER HOW YOU SLICE IT!! If your buying from a dealer the price is going to be too high.

hope this helps.

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#3 (permalink) Old 12-05-2004, 05:40 PM
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Quote:
Originally posted by Bimmin'88@Dec 5 2004, 04:37 PM
You got it....Resale Value. Get it for as cheap as you can and do your homework on this. Contact a lending istitution and see wahat they will finance for this vehicle w/salvage title. And I wouldn't pay any more than they will lend.

Speeking from experiance here....had 93' 5.0 w/salvage title and payed too much for it, even though I spent 5k less than for one without salvage, I still got f@#%ed in the end. The car was tight and reliable and was salvaged because all the interior was stolen. NOT WRECKED!

If this car was wrecked... I would definately do my home work.

A car with a salvage title is not worth shit...NO MATTER HOW YOU SLICE IT!! If your buying from a dealer the price is going to be too high.

hope this helps.
[snapback]244063[/snapback]
Thanks for your input.
Yea, I know the resale value is out the windown, so I wouldn't plan on selling it anytime soon. It was wrecked, that much I do know. The price will be around 50% of KBB Private party price. Hopefully I would have it checked out by a BMW dealership. Good idea about financing... I'll check with my credit union on Monday as well as my insurance co.

Anybody else want to weigh in.
Ken
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#4 (permalink) Old 12-06-2004, 08:39 AM
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It all depends on why it is salvage. If its done right and you plan on keeping it for a long time it would prob be ok. I just bought a 540i with a salvage title. Acctually I bought it straight from the salvage yard with the cirtificate to dismantle and had to do the paper work on my own. All that was wrong with it was Hail damage. I took it to a Dent Doctor and he fixed it for $400. I got a smoking deal on this thing and it is one sweet ride. My wife will drive this car until it falls apart. I have about half of what its worth in it.

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