Wrecked Vert Value Question
 

Looking at a wrecked vert. Rear suspension is shot, the car has a salvage title now.

88k original miles
one owner car
Black W/ Black interior
corksport exhaust
Car looks mint other then the damage to the suspension and rear quarter

I would like to save it but the value on resale would be shot with the salvage title.

I could use the entire interior, top, and some of the body parts, and the A/C system. For my builder.. But what would you think the value would be as a parts car if I were to purchase?

Here is the car (pre wreck- but physical damage is minimal)
http://www.westkyimports.com/forums/...ddsandEnds.jpg


Let me know..

shit....

Un-wrecked Id say its a 5000 dollar car at the least......maybe subtract the damage value? I dunno...

$49.62??...:)

Here is the damage.. The suspension is seriously cracked and his insurance totaled the car out.

http://images.kodakgallery.com/servl..._0_BG.jpg?a=61

im only getting red X's my friend.....

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https://www.rx7club.com/attachment.p...hmentid=191820

looks familiar. I've seen that car with that damage before.

I'd buy that thing for myself and fix the suspension and drive around in it. Looks very nice.

Salvage title at this point really doesn't affect value much
 

considering the resale value is so low anyway for our beloved but 15-20 year old FC's. And, I would think that the fact that this Vert only has 88,000 miles, it with a salvage value but in good repair is probably still worth as much if not more than a Vert with more typical 150,000+ miles on it. However, I doubt any stock '91 Vert would command $5,000. Go to the Edmonds or Kelly Blue Book web sites and you'll see what I mean. And, considering the glut of used cars on the market, I would think the actual price it would go for would be less than what Edmonds or Kelly would suggest.

At this point, the only issue salvage value causes is you can't get comp or collision insurance, only liability insurance is normally provided for salvage vehicle's. And, comp/collision insurance doesn't make sense anyway as the cost premium for that coverage (considering RX7's gets the same risk rating as a Porche) over a couple years is probably not that much different than what it would cost to replace the whole car.

All that said, the real issue is the rear suspension damage. If it can be repaired by simply replacing the rear sub-frame, I've got one out of a S5 you can simply have. If that does it, then just some body repair. I'd just hate to see a 88,000 mile Vert go to parts.

damnit i want a vert badly...

Getting a rebuild title is possible (although apparently a bit of a pain) if the car is made road worthy again... you'd probably have a hard time selling it down the road if you decided to, though.

If the frame isn't bent, I'd say go for it. You can get suspension parts out of a local junkyard.

I have all the parts to fix it.. That isn't the issue, it would more be the fact that the title is no longer clear. But alas, what would a fair value be for the car in it's current state?

his insurance totaled the car out
 

Insurance companies total a car if the cost to repair is 75% or more of it's value. So, for easy math, if the cost to repair exceeds $3,000 (75% of a $4,000 value), it gets totaled. That rule was put in place to allow insurance companies to put a ceiling on their dollar obligation.

Following that same formula, for sure there are loads of FC's driving around with clean titles that were damaged at or worse than this if that damage occured early in their life when their value was closer to the original $25,000+ sales price (i.e. cost to repair was at or less than $18,000).

Bottom line, it doesn't take much to get most any body repair estimate to exceed $3,000. So, either more and more FC's are coming off the road or more and more FC's will be driving around with Salvage titles.

well, if it were me trying to bargain.... i would start at 1k and go from there... 88k, minimal body damage, 1 owner..... if you got it for 1k, youd be stealing it... but i wouldnt go any higher than 1500

BUT! now im assuming the owner had full coverage, which would mean, the owner already got a nice little check from the insurance company since they totalled the car..... then he bought the car back from the insurance company for next to nothing..... do you know the price he got it back for? (if this is what happened?)

That is what happened but I am unaware of the price he paid for the car from the insurance agent.

i would start at 1000 and would go no higher then 2000 but that thing looks very nice and if you have the parts you would b getting a hell of a deal!

You are out of your mind if you pay $1000 for that car. I wouldn't pay $500 for that car. The value is NOT what you think it is worth. The value is what someone will pay for it on the open market. Right now, the only person who has purchased it in it's current condition is your buddy, and apparantly he is not telling you what he paid. He is interested in making a profit. There is nothing wrong with that, but someone is someday going to buy this car then find that it is worth less than they paid for it whether it cannot be resold or whether it cannot be repaired and put back right.

Someone is going to lose money on this car.


My advice is: Don't be that Guy.



PS. If you buy it and part it, I will pay you $100 for the 4 perfect center caps.

well i got mine for 2000 but it had 160k on it, ran great but has f***ed up paint. id say no more then 500 for that one

The black interior alone is valued at about $400-500. The top, if in good shape, is literally an $800 peice. The 3 good rims are about $300..engine (if running well) is worth an easy $500-700 if you part out all the accessories, and the bumpers are worth $100 each...fenders are $75 or so. Paying $1000-2000 for this car would be stealing it...

You could part this car for $3000, easy...Or fix it, and have a SMOKIN' HOT 'Vert.

Picking it up this weekend... If at all possible I am going to fix it and keep it for myself.

i can't see a stock non road-worthy FC going for more than $1000

And I can't see a stock 'Vert of this kind going for LESS than $1000.

vert's must be different in the states, you can sell the shittiest, ratty vert around here pretty quickly for $4-5k, and clean ones going for $10-12k is not unheard of.

how much did you pay RRTEC?

Yeah? Look at how successful his other parts sales threads are going. These same parts you are pricing are all over the FS section and they are not selling right now. Top=$80; 4 wheels w/3 good center caps and tires, $150. I could go on, but you wouldn't listen anyway.

I think you are kidding yourself and leading RRtec down the rosey path.

I wouldn't pay over 500 for the thing parts wise.

If you are willing to put your money where your mouth is, here is a vert you can buy for your $3000, with good title, perfect new top, new tires, new leather seats. perfect interior, perfect sound-upgraded headrest speakers. Perfect driver, eibachs, tokiko blues, custom exhaust, passes emissions, 24 mgp on the highway, all electrical works, perfect boot cover- only imperfection is faded paint. You don't even have to part it.

At this point, I know the parting it out would be friutless. I have a vert I am restoring but would be using the parts for my own car.. OR if the chassis is salvageable I will get it back on the road and drive it. I am basicaly trying to sell all my T2 parts for shipping plus fuel and I can't move anything. That vert you posted looks great, if I had 3k sitting around that the wife wouldn't miss I would talk to you about it...

Thanks. I bought it for $1100 nearly two years ago and now have about $3500 in it before paint. I drive it everyday I am in town.

I really wasn't trying to sell it to you or anyone else. I was just trying to illustrate to adrock that he was foolishly trying to spend your hard-earned money. I have a part-out project TII also. I have also found that selling parts is not so simple.

Good luck on the project!