good deal on a 2001 cobra?

[grendel]

a local junkyard has a 2001 cobra with 32,xxx miles on it that they just got done fixing. they are asking 12,500 for it. the title is a salvafe/refurbished title. i was just wandering if this is a good price for it. i will be able to see it wednesday. the title being a salvaged title will give me problems trying to get a loan for it wont it?

 

[BlackenedSVT]

hmm what color is the cobra that is salvaged? I see you have a yellow one in your sig. Do you own one already?

 

[Beau]

its way too much for a salvage titled car.

 

[grendel]

my yellow one is a gt with a cobra bumper. the one i am looking at is black with tan interior, 5spd coupe. it was hit one the driver side fron but it didnt bend the frame. they had to replace the bumper, fender and hood.

 

[grendel]

its way too much for a salvage titled car.

really? i thought it was a good price for it.

 

[grendel]

what is thta big difference betwenthe two titles? i would think that if the car was fixed and it ran like othing happened it would be fine and be worth 12,500

 

[Beau]

depending on state laws, sometimes you cannot register salvage titled cars or you can't get insurance on them. i'd call your DMV and talk to them and also call your insurance company.

 

[grendel]

i am in texas. one of my friends has a lightning with a salvaged title an dhe was able to get it registered and insured so i dnt think that would be a problem

 

[Beau]

call your insurance company just to be sure.

if you want to, buy the car, but since it has a salvage title, i'd offer 9.5k for it.

 

[chuckstang95]

Id look for a good one, non salvaged or offer them alot less money

 

[one2gamble]

theres no such thing as

"fixed like it never happened"

 

[Beau]

true

 

[jmk97GT]

Too much.

I remember this guy tryin to sell me a white LX ('90) w/ a salvaged for $7500. What a joke.

 

[grendel]

well when i see it wed. i will se what he will come down to.

 

[64Comet]

Should be able to get it for under 10 I would think. Also have it checked out real good. Good luck.

 

[Sharkster]

You better be looking for frame issues that maybe hidden.

 

[grendel]

they said it it was hit on the driver front and they had to replace the fender, hood and bumper. they said it did not bend the frame or touch the engine. i am going to take it over to a friends body shop and have them check it out.

as for insurance the only difference for being a salvaged title is that if i total the car they wont pay the whole amount but for like minor things they will. no difference in price or anything.

 

[grendel]

they said that they would consider a trade with my gt. what do yall think would be fare on that? right now i have 12,500 into it, maybe like the cobra plus 2,000 for mine or what?

 

[Gud T.B. Blown]

realize that the car had to be damaged beyond what the insurance company thought was repairable to be salvaged. i don't think an insurance company would write off a low mileage, $25,000 (that what it should've been worth with 32k on it) as a total loss with what sounds like relatively minor front end damage, ie: hood, fender,bumper. i can almost guarantee that the front subframe and unibody were damaged in the accident and a repaired unibody is one accident away from totally crumpling. and finally this is an '01 with only 32000 on it? so this car has been mothballed/repaired for the last 2 or3 years or maybe the odo was also replaced. have you run a carfax on this to see when the last time it was registered or smogged? finally, finally: a lot of companies won't insure a salvage title car and almost no bank or credit union will finance one either because they are worth nothing as equity. DON'T WALK AWAY FROM THIS CAR, RUN!!!!!