"salvage car" for my first vette

[BlackBeast1503]

Hi,

Im about to turn 16 and am lookin to buy a corvette for my first car, but would like u to help me with this one. It is a white with tan leather 1995 Corvette with 87,152 miles. It was stolen and recoverd. it needs new rims and tires and carpet in the rear hatch, and a radio(it was also stolen). it has manual base seats with inflatable bladers, base suspension, manual air conditioning, twin remote heated mirrors, a 2.59 rear axle ratio, high performance brake package, 140amp altanator, and automatic trans. the car is in pretty good shape for a stole car. it has a salvage title and he wants $8,950 for it and has the rims for it for $675. I would like to have this car but need your help. the VIN is 1G1YY22P7S5105019 if someone could check it. go to www.lambmotors.com to see some pics of it. it is close to the top, click on the pic to open more.
(the way i found out all this is i wrote all the RPO codes down and checked them here on the site)
Thanks in Advance,
John Paul Pearce

 

[warren s]

It does not look to bad, actually it looks fine from the pitures.

why was it salvaged? it doesnt even look damaged, what about the engine and drive train?

 

[BlackBeast1503]

motor

I dont really know why it was salvaged but the motor works just fine ive started it and it runs fine, no leaks.I dont know about the trans becouse the throw away tires on it are flat so i couldnt drive it. I was wantin to know about the options on it, the manual air and seats and base suspinsion. Ive never seen a corvette with so low options and was wonderin why som1 would want to have these an how many were built with these.

John Paul Pearce

 

[vigman]

Salvage

Well sounds good.. but you will have a hard time re selling it if you hate it.. salvage titles are a bear!

But it sounds like a good project car!



IF YOU HAVE THE $$$$$$$


Vig~

 

[warren s]

I wouldnt worry about the options, my 95 has the electronic air and i wish it had the manual type, the seats make little differance, once you "set them" you usually dont change much and the base suspension is just fine, you can always change the shocks later.

The value is little changes with options on a 95. That car looks just like mine!

 

[sumoboy]

I don't think it's a good buy. For the condition it's in your looking at maybe $7K value but you don't know if it drives yet. To spend 9K on a salvage vette, I'd start looking into a 91 and up for the body style. If you shop around you can get a decent one for that price. I paid 8K for my 94 with 67K and it's loaded except for the FX suspension. It just needed a set of tires. 9K for that is too steep.

I have someone trying to get a carfax for you.

 

[berky2500]

I bought my car from a guy who buys and sells nothing but theft recoveries and repo'd vettes from auctions. He said that many times cars are stolen, and the insurance company pays because the car is not found right away. Later if the car is recovered, the owner has to either buy a damaged car back from the insurance company (they now own it because they paid the claim), or the insurance company auctions it to recoup some of their payment.

So if the thief took the car, drove it for a couple of months and abandoned it after selling the tires and rims for quick cash. He might have left a relatively undamaged, but running car that doesn't need much work, and it gets classified as a salvage title because it disappeared for a while.

 

[tyrel]

Well I don't know about anyone else, but I would never dream of buying a car that I couldn't test-drive first. Buying a car without driving it is asking for trouble.

I have posted this pre-purchase link before, but as usual it comes in handy again. There is some great advice here:


http://www.c4vettes.com/prepurchase.htm

 

[LEEJANDZ]

berky2500 -- I bought my car from a guy who buys and sells nothing but theft recoveries and repo'd vettes from auctions. He said that many times cars are stolen, and the insurance company pays because the car is not found right away. Later if the car is recovered, the owner has to either buy a damaged car back from the insurance company (they now own it because they paid the claim), or the insurance company auctions it to recoup some of their payment.

Salvage title cars are a great bargain if you can confirm the fact that it was stolen and not involved in an accident. Are you buying it from the owner who had it stolen or someone else. Make sure you get a police report verifying that it was stolen and that it wasnt crashed. If you can verify the stolen status... offer the seller $7500 with the wheels & tires.

NO MORE THAN 7500!!!

-----------------------------

JASON

Let me know if you have any more questions. I have been buying & selling salvage title cars for 5 years.

 

[muddywaters]

Salvage

Car could have been in th water, wheels and tires removed after recovery?

 

[berky2500]

You are both right, I wasn't meaning it was a good deal, jump in with both feet. I was merely pointing out how a seemingly unwrecked car could have a salvage title.

I would still do the Carfax, checkout, test drive route before buying the car. The car could have been wrecked and rebuilt for all I know, with the title laundered through several states to hide the repair. Let the buyer beware.

 

[sumoboy]

The car shows 59,092 on Feb 7 2003 and now has 87,152 :duh I wonder where they drove it in a month....no recorded speedo rollback.:eek
I need e-mail address to send you full carfax.

 

[Daryllawman]

For that much money you should be able to find a Vette that you can drive. I would run from that salvage one. I'm not trying to put you down for your age, but any Vette will cost you money in just about anything you do to it......Now even the GAS you put into it. I don't know what kind of Job you have at 16 years old, but I know at 16 I couldn't afford one. You have to look ahead.....you have to have enough money to live....eat.......pay rent.....insurance.......my insurance company wouldn't touch a 16 year old in a Vette. I even had to sign saying that no teenager would have excess to the vehicle. All I am saying is look ahead before you do something like this, even if you have the money to buy it.......do you have the money to drive it....? ........

 

[vigman]

The other members here make good points

BUT

IT'S A BUYERS MARKET NOW
>>>YOU HAVE LEVERAGE.<<<<<<<

DO NOT PAY FULL POP FOR THIS CAR!
( I assumed you were not)

Get some of your local paper's or the auto trader to find current market comp values.

Clip out the add's of interest.. it will be leverage..later IF the car checks out.

Do a spread sheet of all costs..
Purchase
Insurance
Registration
Smog ( if needed )
What doesn't work!!!!
Maint ( where needed )
New Brakes
New tires
Nice to haves, see how QUICKLY it add's up.

Are you getting a loan for the car?
( that might be a problem.. since it's a salvage)
Add the interest into the bottom line of the purchase.

ASSUME the tranny will need work in the not to distant future.. pull the fluid stick.. look & smell the fluid. figure $1200.00 to $1800.00 460EL.

If the car is 100% there ( short of rims & tires ), and you are still hooked.
HAVE SOMEBODY WHO KNOW'S VETTES LOOK AT IT WITH YOU!

Have the dealer put the rims & tires on... and go for a ride!

Check ALL the other fluids Engine oil, brake fluid,power steering fluid, diff fluid, coolant overflow, Window washer fluid.

The car MIGHT have had its BCM/ECM swapped.. and that would account for the milage difference.

Lift up the carpets to see how wet she had got.. there will be scum under there if it was a flood deal.

Get the car in the air... and CLOSELY inspect the frame & under body.. be pickey.. take notes.

Operate EVERY FUNCTION OF THE CAR
STEREO/AC/HEATER/WIPERS, sqirters/SEATS/DEFROSTER
CRUISE/HEADLIGHTS/TURN/HAZARD/ALL DASH FUNCTIONS.

Listen for KLUNKS, SQUEEKS,WHINES,BUZZES,RATTLES.. and make notes.

The more questions you can ask.. the more info you will have.

Check the wheel bearings for free play ( do A search I have posted on that before)

IF you are putting all your egg's in one basket to buy this car... BE VERY CAREFUL.

I my most recent purchase I am buying TOTALLY BLIND, but I have factored worst case for this plan. I have the resources to cover this...DO YOU?

And I know how the heart will influence the logical mind & thinking process.

It's called "DA FEVER"

I still say GO!
( after you do ALL YOUR HOMEWORK)

Vig~

 

[SPANISHVETTS]

Hi John Paul,

1. You are a wise young man. Most of us at age 16 were too arrogant to seek out, much less listen to advice. This gives you 25 ataboy points.

2. A Corvette for your first car is a bit ambitious. Take another 10 points; I am liking you more and more.

3. Have you checked with the insurance companies for a premium quota? When I gave my son the 82 he was 22, and in the military. The premium was still more than double what I was paying!

4. Can you find a C4 owner/mechanic to go with you to have a look at the car?

5. There is something fishy with the mileage that is almost a thousand miles a day???

The car shows 59,092 on Feb 7 2003 and now has 87,152

6. Flash cash and get her as cheep as you can.

offer the seller $7500 with the wheels & tires

I would offer $6250. to start.

7. If worse comes to worse you can part the Vette out on eBay and recoup most of your money.

Listen to Vig, every word he has posted rings true.

Good luck

 

[offshore]

It does not look to bad, actually it looks fine from the pitures.

why was it salvaged? it doesnt even look damaged, what about the engine and drive train?

recovered theft get a salvage title because the car was found after the ins.co. paid the car off.

 

[LEEJANDZ]

Odometer descrepancies & you cant drive the car???

Offer the seller $4000 regardless of the condition, but remember that it will be difficult to resell this car in the future.

Some insurance companies wont cover salvage cars... find out before you buy the car.

But at $4 grand... you could part it out and buy a good one

 

[jmccloud]

Salvage title

Check this out for two insights

http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&item=2408306541&category=6168

1. What a salvage title car will bring.

2. Probably a much better way to spend $7000 or thereabouts.

Good Luck