Buying a totaled vehile

[maxamillion125]

I have a chance to buy a friends 2004 Chevy Tahoe LT (5.3L, AWD, OnStar, towing package, leather) 133,000 miles that the Insurance company deemed totaled. He ran off the road and scraped the right side against a fence. He's buying it back from the Insurance company for 4k and said he would sell it to me for that much. NADA value is around 11k and thats what the Ins is giving him, minus the buy back 4k. I figure I can find used front/rear doors and the back quarter panel pretty easy. Do you guys think its a good deal or should I just pass?

Other then the damage to the passenger side doors and quarter panel the rest of the vehicle is in perfect condition. He doesn't have any kids and kept it super clean and well maintained. I called the dealership he took it to for maintenance and every 3,000 miles the oil was changed, the inside is immaculate.

 

[deerseeker001]

I would buy it

 

[jaotguy]

as long as it hasn't been "branded" by the insurance company , possibly a good deal ....

if it has been branded , the vehicle is only worth its part out value ... once branded no one else will want it , no dealer will touch it as a trade in ...

 

[SPIKER]

looks OK, but if you look around a similar year-mileage truck can be found for the 4K plus a bit that would cover the parts but maybe not the labor to fix it.

NOW if you plan to knock out some of the dents and fix tail light & drive then that is OK deal.


Mark

 

[sseelhoff]

I have a chance to buy a friends 2004 Chevy Tahoe LT (5.3L, AWD, OnStar, towing package, leather) 133,000 miles that the Insurance company deemed totaled. He ran off the road and scraped the right side against a fence. He's buying it back from the Insurance company for 4k and said he would sell it to me for that much. NADA value is around 11k and thats what the Ins is giving him, minus the buy back 4k. I figure I can find used front/rear doors and the back quarter panel pretty easy. Do you guys think its a good deal or should I just pass?

Other then the damage to the passenger side doors and quarter panel the rest of the vehicle is in perfect condition. He doesn't have any kids and kept it super clean and well maintained. I called the dealership he took it to for maintenance and every 3,000 miles the oil was changed, the inside is immaculate.

Not sure what the law is in Montana, but in many states, if a vehicle is declared a total loss, the only title you can get is a "salvage title." If you are going to use the vehicle, this is meaningless. If you are going to sell the vehicle, it greatly diminishes the value.

Even without the salvage title, the fact that it has been salvaged will be reported to most insurance indexing bureaus (which could affect future collision claims) and carfax type reporting services.

 

[dave1949]

OnStar may not support that year of vehicle--if it matters. I know they dropped support for a 2003 Buick a couple years ago. Something about compatibility and probably not enough revenue from that age class of vehicle to continue support.

 

[s219]

I assume it can be registered OK in your state? Here in VA, my mother in law bought back a totaled vehicle (tree fell on it, but cosmetic damage only) from her insurance company, and drove it for a couple months until the state DMV revoked the registration. She got a refund from the insurance company, thankfully, but then had to go buy another car. For whatever reason, the state did not want to allow the vehicle back on the road. Not sure if that applies to all totaled vehicles in VA, or that was a special case.

 

[zzvyb6]

Forget the OnStar unless your insurance company will give you a big discount for it to be there. I would not fix it other than the tail light.

Drive it as a beater as long as the doors open and shut. I put Blizzak snow tires on mine and its a tank in mud, rain, ice and snow. Great trailer puller, too.

 

[maxamillion125]

Guys I'm not really concerned about the resale value or Salvage title. I plan on keeping the car not trying to flip it. I know the car's history and its mechanically sound and was treated very well. The doors open and shut fine. I need the 3rd row seating for our family of 5 and also get something to pull my Ford 1710 tractor with I might look around for a rear door to throw on there and paint because I can do that myself but the quarter panel is gonna require A LOT more work and welding so I'll probably leave it alone.

 

[KTurner]

Wouldn't the insurance company have gotten a quote to see how much the repair would have cost? Look at the quote, make sure there's not something like a bent frame listed on it.

Does it leak? as in, let rain in around the newly bent up doors.

I'm in VA and hadn't previously heard about DMV revoking registration due to car being totaled. I'd verify that in your state, as it'd be a show stopper. At that point, it's basically scrap/parts value.

Keith

 

[aczlan]

In NY, you can put a "totaled" vehicle back on the road, but you have to take it through a state salvage vehicle inspection (mainly to make sure you don't have stolen parts on it). However, if the owner is buying it back from the ins co, it may not be titled as a salvage vehicle (I had a car for sale that was hit sitting by the road and the drivers ins co paid me for the car, but didnt want it, so I kept the title and as far as I know, it was never listed as "totaled" in NYS).

If it were me, I would remove the inside trim panels on the quarter panel and push it back out from the inside(bottle jack and some wood?). You will probbaly be able to get most of it out that way and then pickup a couple of doors in the right color.

If you go to sell it, be sure to tell the whole truth about its past... I was looking at a Suburban this spring where the seller claimed that it had "just been in a fender bender but the ins co had totaled it" and he had fixed it "like new". The only problem was that a vehicle history report showed that it had been totaled down in TX, then sold at a salvage auction (most of the front end was smashed in from the auction pictures), then registered in NY where it was totaled again a year later. If it had been as he claimed and he had pictures to prove it, I would have bought it, but not with how he was (mis)representing its history.

Aaron Z

 

[WM75Guy]

OnStar may not support that year of vehicle--if it matters. I know they dropped support for a 2003 Buick a couple years ago. Something about compatibility and probably not enough revenue from that age class of vehicle to continue support.

Had the same issue with my 03 GMC. They have an analog OnStar system. When analog cell service went away so did analog OnStar service. You can prepay for 3 years worth of OnStar and they will switch it out for a digital system for free. No refunds if you cancel but you can transfer it to the new owner if you sell it.

 

[Toddao]

I would fix the taillight, and just drive as is , good deal
Be creative paint or get a sticker of a large band-aid to cover the damage!, lol

Sent from my iPad using TractorByNet

 

[maxamillion125]

I talked to a friend who bought his totaled car back and he said the Insurance company never had him surrender his title. He thinks if he ever sells it then the new Title will be a salvaged one. I'll look into this on monday and figure out what our state laws are. The OnStar system must not be analog because it's currently working fine.

 

[turnkey4099]

Guys I'm not really concerned about the resale value or Salvage title. I plan on keeping the car not trying to flip it. I know the car's history and its mechanically sound and was treated very well. The doors open and shut fine. I need the 3rd row seating for our family of 5 and also get something to pull my Ford 1710 tractor with I might look around for a rear door to throw on there and paint because I can do that myself but the quarter panel is gonna require A LOT more work and welding so I'll probably leave it alone.

Listen to what is being said. DO NOT BUY it unless you check to see if you can register it for road use fist!!! Most states, once totaled it is all but impossible to get a 'roadable title'.

Harry K

 

[ultrarunner]

My brother's 1968 Mustang was stolen and recovered... insurance declared it a total loss because the entire interior was removed except the headliner...

He bought it back for $400 and we spent the next couple of days putting in a new interior...

It does now have a salvage title and he was required to get a brake and light inspection...

 

[Pete Judd]

My son had a Justy, that was bumped in a parking lot. a small dent in the quarter panel. The persons insurance company payed him and let him keep the car, but with a wrecked title. A small dent in the body was just to much for the Ins Co to deal with for a 500 buck car.

 

[maxamillion125]

Listen to what is being said. DO NOT BUY it unless you check to see if you can register it for road use fist!!! Most states, once totaled it is all but impossible to get a 'roadable title'.

Harry K

I just called the DMV and if the vehicle is older then 5 years it gets branded as a totaled vehicle retained by the owner NOT a salvaged vehicle and I keep the original title. There is no salvaged title and the vehicle is perfectly legal to drive and there's no inspection or any other hoops to jump through. If I ever sell it all I have to do is let the person know that it's been branded as a totaled vehicle by the Insurance company.

 

[k0ua]

OnStar may not support that year of vehicle--if it matters. I know they dropped support for a 2003 Buick a couple years ago. Something about compatibility and probably not enough revenue from that age class of vehicle to continue support.

The older cars had analog cellphones in them. There are no more analog cell phone support on any carrier that I know of. Therefore no Onstar support as the radio cannot use the digital towers.

 

[k0ua]

Whoops!, looks like Repowel beat me to it... teach me to read ahead....