Date registered: Apr 2004
Location: The BlueGrass State
Mentioned: 0 Post(s)
Quoted: 2 Post(s)
I am finding that more and more insurance adjusters are totaling cars [thus gaining salvage titles] than repairing them since repair costs have gone so high. It is easier for the insurance company to simply write one check and clear the paperwork than deal with customers and body shops that keep running up costs.
That said, we are going to start seeing many more high end desirables that hit the market with salvage titles with nothing wrong with them other than normal collision damage from simple accidents. Right now they are a great deal for many people who can either do their own work or get body shops that don't charge "insurance milking" rates.
I just had a 99 Sierra in the shop for work from a breakin and the body shop wanted to replace the entire dash because the plastic mounting bracket for the radio was broken -- $1600 for a Gorilla Glue job costing 10 min labor. The insurance company was ok going along with their estimate. I fixed it myself rather than have the insurance company pay and wrote the supervisor advising that the adjustor was going to let it slide.
There are a lot of good deals out there in salvage cars. Just like any other used car, do your homework. If it is just collision, it is fixable. If it is flood, it is much harder unless you are willing to take it to metal and replace most everything [only do that with a real special car]. Theft cars can be retitled as regular once inspected and documented. Insurance companies will insure them.
As for a CL500 Sport, if the price is right, ie 50-60% of wholesale, and you verify you can get it insured in your state, that can be a good car. Just take a good mechanic to inspect it to insure there are no shorted electronics that must be replaced.
Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.