Salvage buyback

SHEP

New Member
Messages
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Location
LA...Lower Alabama
#1
The back seat, under the seat and rear floorboard on my 1999 323i convertible somehow got filled with water. I hadn't driven the car for several weeks, so it sat closed up in the sun and humidity like that for I don't know how long.

The back seat was covered with mold and mildew, and the smell won't come out.
To my dismay, my insurance company is totaling the car because the adjuster said there is a some corrosion too, and it may cause additional problems with wiring and electronics later down the road.

The car only has 115,000 miles on it, runs and drives like a dream, and has no known problems. I can buy the car back with a salvage title for $4000.00. My trim shop will put a new leather interior and carpeting in for around $2000.00 plus the rear seat pad, if needed. Along with a little more interior dress up(re-spray door panels, etc, I would have around $6200 in the car, and the difference in what insurance pays me in my pocket?

However, selling a car with a branded title is tough. Is this worth doing? I can probably replace the car for around $8-9,000, and still have money left over and not have a salvage title.
 
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Location
Reading,PA
#2
You're right in all your thoughts. It really comes down to two things:
1. Are dealing with possible electrical and corrosion problems down the road worth the savings to you?
2. Are you going keep it "forever"? If so, the resale is irrelevant. But if you want to sell it at some point, the salvage title will affect the value. Keep ALL the info you have regarding the insurance claim, and all the receipts for the repair work so you can show a future buyer why it was totaled and how it was repaired.
 


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