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Old 04-06-2011, 07:50 AM   #1
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salvage question?

there is a dealer who sells slight flood damaged cars(not above the sill) that have been inspected and apparently look and run great. for example he has a '07 boxster,31k miles,for $23,900. would a pre purchase inspection be sufficent to give you 'peace of mind' on a car like that? how badly do you think it would affect future resale? thanks.
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Old 04-06-2011, 08:05 AM   #2
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I'd say it's a roll of the dice, which would certainly affect resale. Is there any warranty? The price seems to be only $6k (or less) below that of a non-flood damaged car.
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Old 04-06-2011, 08:21 AM   #3
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The answer to your question is about 50% of blue book/Retail. I have owned many Salvage/Rebuilt title cars and I would not pay more then that for one.

I would also NEVER,NEVER,NEVER buy a car that has Flood/Water damage you will always have problems with them and the Boxster's ECU is under the drivers seat.water damage on a Boxster is a death sentence. If I were you I would run,not walk away from this one.

Good luck
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Old 04-06-2011, 09:21 AM   #4
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I agree with the pricing and water damage comments. Even if the car runs today down the road there will be problems. Just ask yourself, salvaged because of water/flooding??? Not above the sill???? Doesn't make sense!
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Old 04-06-2011, 09:47 AM   #5
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As the result of less than scrupulous dealers, in many states, any car that is recovered after a flood (regardless of the water depth) must get a special flood salvage title, which brands the car for the rest of its existence and permanently lowers its value either at sale or trade in. I’d also have to agree that the resale value should be way lower as you are assuming all the risk going forward…………….
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Old 04-06-2011, 10:02 AM   #6
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run far away.
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Old 04-06-2011, 01:23 PM   #7
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Maybe if I were

buying a track only car where I would strip lots of stuff off and not care if the a/c controls worked or the doors or the electric hood latches, etc. But the chance of corrosion between all the little wires and their connections that are in a modern car is the classic problem with a flood car. And proving that the water didn't get into the doors, as an example, or under the carpet is going to take lots more than the standard PPI.

If this were an older car with mechanical stuff instead of all the modern electronics you'd have a better chance of fewer and less expensive problems in the future.

There are thousands of Boxsters for sale right now ....
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Old 04-06-2011, 01:53 PM   #8
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I agree with above. Around here a salvage car regardless of make/model is worth roughly half of regular book value. We have a lot of hail/tornado/wind storm damaged cars that get branded titles, but a flood one would make me walk away for sure. Remember, there's nothing more expensive than a cheap Porsche.

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Old 04-06-2011, 03:46 PM   #9
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For a platform to build a race car off, at half (or less) of non-salvaged value? Sure. For a street car, especially a modern, complex (read: modern Porsche), at only a few thousand below what you could buy a "normal" car for? RUN FAST!!!
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Old 04-06-2011, 03:52 PM   #10
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I agree with Andy A6... why would the salvage a car for flooding so shallow? Id be weary of the car, moreover, weary of the dealer that claims they know the extent of the flooding on it........
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Old 04-06-2011, 04:29 PM   #11
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Good post Kriss. I see cars all the time that have had minor damage and because of services like carfax will never be worth full value again even though a simple replacement of a bumper really is harmless to a car. I know it makes me not want to drive an expensive car like my Benz. I figure if someone hits me I'll lose out no matter what. On the flip side I do understand why we need these services, it's just they are such a black eye.

I've wanted to buy a Boxster like this several times because the price is great, but then I think I'll get stuck with the car if I ever need to sell. Then of course I would feel stupid.

I think you got a lot of honest excellent advice here, water damage as low as the seller indicates just doesn't make sense. I think the tracking advice is good, you figure in that case you are basically stripping the car anyway.

Offer $12k then hopefully if there are major issues you'll have enough to fix it. Yes I did just pick that number out of thin air
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Old 04-06-2011, 05:43 PM   #12
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DONT DO IT! My first Porsche was a salvage one when I was 18. Front end damage. Never loved it so had to sell it. And what a nighmare it was to sell. People runaway after hearing the word "salvage" Ended up dropping my pants on the price and never looked back.
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Old 04-06-2011, 07:40 PM   #13
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Quote:
Originally Posted by violametallic-S-
DONT DO IT! My first Porsche was a salvage one when I was 18. Front end damage. Never loved it so had to sell it. And what a nighmare it was to sell. People runaway after hearing the word "salvage" Ended up dropping my pants on the price and never looked back.
Not true, I have owned and sold many "salvage/rebuilt" cars, none were water damaged cars and I had no problem selling them for a good price. I have always made money on every sale + drove the cars for a year.

My Boxster is not a "salvage/Rebuilt" car I bought it from a dealer two years ago for $9,400.00 out the door for a 99 W/58K miles on it and some nice mods, I feel I stole the car.

I also am driving a 2008 Volvo S40 T5 and a 2006 Lotus Elise that are "salvage/rebuilt" cars, I have a total $16,800 into the Lotus and $10,500 in the Volvo and I have been driving them for about a year now.I am driving to sweet cars for less then the price of one, and that is all the reason people like me, buy and drive "salvage/rebuilt" cars.

What you call a nightmare, I call a dream come true.
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