Salvage Title Collectability

[oldschoolss]

Hey guys,

I have a slew of restoration projects sitting around my shop. But one of the latest vehicles I picked up was a 97 Z-28 vert m6 that spun out on the highway in the rain. The damage isn't severe and should be a easy fix (new quarter and radiator core support) it came with a salvage title when I bought it but that was from when it was stolen back in 98 not from the accident in 06. I only paid 2,300 for the car and it is as clean as can be. 67k miles on the odometer. I'm afraid that I'm going to stick a bunch of time into fixing it and it won't be worth anything down the road due to the salvage title. But then I got to thinking there are cars that have gone for over 100k at auctions that started out in worse shape than this car did.

So the point being here is do you think that in the future salvage titles on collector vehicles won't be a big deal? If it's fixed right how is that any different from a rust bucket that has had every piece of sheet metal, the frame, and other structural parts replaced?



Please share your thoughts.

[RobM]

Well i have been thinking about doing the same exact thing lately but with a vette. i have been wondering the same thing.

i would imagine you wouldn’t get quite as much as a car with a clean title but im sure you could make allot of money on that car if you were to resell it.

that seems like a smokin’ deal on that car. Thats usually how much just the drive train costs for one of those.

Do you know any good sorces to find cars like this?

[CRCRFT78]

I bought a friends 96 Impala SS for $2000 with only 65K and a salvage title. It would probably depend on the individual interested in the car. I personally look at it as saving a musclecar/collector car from the scrap yard. I'd rather see them fixed and on the road again than end up scrapped for parts. Especially when they can be fixed (SAFELY).

[Bill Howell]

Hey guys,

I have a slew of restoration projects sitting around my shop. But one of the latest vehicles I picked up was a 97 Z-28 vert m6 that spun out on the highway in the rain. The damage isn't severe and should be a easy fix (new quarter and radiator core support) it came with a salvage title when I bought it but that was from when it was stolen back in 98 not from the accident in 06. I only paid 2,300 for the car and it is as clean as can be. 67k miles on the odometer. I'm afraid that I'm going to stick a bunch of time into fixing it and it won't be worth anything down the road due to the salvage title. But then I got to thinking there are cars that have gone for over 100k at auctions that started out in worse shape than this car did.

So the point being here is do you think that in the future salvage titles on collector vehicles won't be a big deal? If it's fixed right how is that any different from a rust bucket that has had every piece of sheet metal, the frame, and other structural parts replaced?

Please share your thoughts.

The problem I see with your logic is those cars that sold for 100K+ were desirable cars. Sorry, but a 97LT1 camaro is not very hot at the moment. Nothing wrong with rebuilding it (right) and getting a marked title, but keep in mind the estimated value when you finish it, before you dive off into the deep water with it. Parting it out might be a better choice?

[Restomod]

Yeah I think fixing it and driving it till it drops is ok, this car will never reach the level of a 69 Z28.

[vintageracer]

There are MANY 60's-70's collector cars that have been restored that SHOULD have had a salvage title years ago but did not because salvaged titles were not done a lot at that time. Since that was the case, the poor condition these cars were in prior to restoration may not be known and/or does not make any difference since that prior history/condition is NOT reflected by the title.

In your case this car will ALWAYS have the salvage brand on the the ****** even IF you go and wash the title through numerous title transfers or through different states. No matter how nice you make the car it will always be worth at least 25%-40% less than an equivalent condition car of the same model.

In a lot of cases it makes no sense since a lot of cars are "salvaged" today with very little damage. The insurance companies are limiting their future liability by "salvaging" damaged cars in which they had a payoff.

Even "IF" this specific model of car one day does become a desireable collectible the previous history will be known and this particular car will be overlooked by collectors because of its "known history".

Fix the car and enjoy it. Just do not put anymore money in the car than half the retail value of a nice equivalent "non-salvaged" car.

[oldschoolss]

The problem I see with your logic is those cars that sold for 100K+ were desirable cars. Sorry, but a 97LT1 camaro is not very hot at the moment. Nothing wrong with rebuilding it (right) and getting a marked title, but keep in mind the estimated value when you finish it, before you dive off into the deep water with it. Parting it out might be a better choice?

I know I'm not thinking it is worth that now. But hey back in 1977 who would have thought that their tired 69 camaro could be restored and sold for over 100k dollars some day. With the car market you never know what's going to happen. I can fix the car for next to nothing, the major cost would be the paint supplies, the body parts I can get off a friends ditched 93 Z28 for free. So I think I'll try to fix it up this winter. Throw a nice hood and spoiler on and some chrome c6's and stop at that.

Thanks for the help guys.