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Mustang with "salvage" title: Impact on value, sale-ability?
Have a friend with a 66 Mustang in very good to excellent condition
(restored, I think) but the title -- this is in California, if that makes any difference -- has "Salvage" on it. He wants to sell the car, and is concerned about the 'salvage' thing. What impact does that have and, if a negative one, is there any way around it? What impact does 'salvage' have on the value of the car. Thanks! Christopher A. Steele |
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Salvage title pretty much kills the value of a car. Since we are talking
about a 39 year old car, it might not be as bad. Depending on when it happened, it wouldn't take much for it to be a Salvage car. There are a number of '66 Shelby's that were rescued from wrecking yards, Christie Edelbrock's car is one example. The important thing is to find out what made it a salvage title. Accident? Rust? someone commit suicide in it with a shotgun? (I know of a case where this happened). If the reasons can be determined and verified that the recovery work was done properly, it would still be worth less, but be a bargain to the purchaser. Good Luck > wrote in message oups.com... > Have a friend with a 66 Mustang in very good to excellent condition > (restored, I think) but the title -- this is in California, if that > makes any difference -- has "Salvage" on it. He wants to sell the car, > and is concerned about the 'salvage' thing. What impact does that have > and, if a negative one, is there any way around it? What impact does > 'salvage' have on the value of the car. > > Thanks! > > Christopher A. Steele > |
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About any time an insurance company figures repairs will exceed the
book value, they write it off as totaled and off it goes to salvage. Often, the owner turns around and buys it back for the salvage value directly from the insurance company. My own father has done that a number of times. It could also be that the owner had no idea of the value, and didn't have the funds to put into repairs (like an engine overhaul) and had it hauled to a wrecking yard. lady I know was going to do that with a '68 Mustang. When I told her what it might be worth if it was restored, she reconsidered and is in the process of restoring it herself. Anyway, it could have been in salvage for a week, or decade, or 30 years. How long it sat, especially the older cars because they were prone to rust, can make a big difference, as can where it sat... Nevada desert, snow belt, SE humidity, or salt air? Remember that many of the old cars you see restored to become show pieces and command top dollar, were found in barns and fields, etc, where they sat for decades. There is little difference between sitting in a field for 40 years where the license expired and was never renewed; or it was placed into "non-op" status"; and sitting in a salvage yard. Many buyers do not care about a car's history They only care about it's present condition. They don't care that road salt ate the entire floor pan and it had to be replaced. It's covered with carpet. Who is gonna see it? There are some who will back off, but most won't as long as any restoration work was done properly. Your friend might consider getting the car inspected and appraised. It will cost a few bucks, but it's something which can be presented to prospective buyers to help take away any fears they might have. That's what I did with a 66 FB I sold a couple of years ago. With those done, the deal was closed "sight unseen" (they did get to see photos with the report). On 25 Jul 2005 21:01:43 -0700, wrote: >Have a friend with a 66 Mustang in very good to excellent condition >(restored, I think) but the title -- this is in California, if that >makes any difference -- has "Salvage" on it. He wants to sell the car, >and is concerned about the 'salvage' thing. What impact does that have >and, if a negative one, is there any way around it? What impact does >'salvage' have on the value of the car. > >Thanks! > >Christopher A. Steele Spike 1965 Ford Mustang fastback 2+2 A Code 289 C4 Trac-Lok Vintage Burgundy w/Black Standard Interior; Vintage 40 16" rims w/BF Goodrich Comp T/A gForce Radial 225/50ZR16 KDWS skins; surround sound audio-video. "When the time comes to lay down my life for my country, I do not cower from this responsibility. I welcome it." -JFK Inaugural Address |
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