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I went to look at an '06 Ford Ranger today. 4x4 xlt, 42,000 miles, looked really nice, power this and that. Priced at $9500, which is considerably less than I'd seen comparable Rangers priced. Drove it. Liked it. Seemed absolutely fine. Was planning on buying it.
Then I ran a Carfax. Turns out it was "declared a total loss" in February of this year, and in April was issued a "Salvage Title". Is this an automatic stay-the-hell-away-from-this-car? Or not necessarily?
Is this an automatic stay-the-hell-away-from-this-car?
IMO, it is. The money you'll save buying this car you'll probably end up spending down the road in related repairs. I would't touch it with a ten foot pole.
IMO, it is. The money you'll save buying this car you'll probably end up spending down the road in related repairs. I would't touch it with a ten foot pole.
Ditto.
Anything this recent with a rebuilt/salvage title is a no no imho. If it were an older car, it would be different story. Let me explain.
06 Ranger, with a salvage title was deemed a total loss by the insurance company. It would cost them too much to fix the car, vs the value of the car. So they totalled it. Someone else bought, repaired it, to sell it trying to recoup some money back. I say walk away!!
Now let's say you found an old car like a 87 Buick Grand National, and it has a rebuilt title. The car may have had a minor fender bender, and the insurance company decided it was not in their favor to repair it due to difficulty finding parts, and the book value. So they total it, not because the accident was bad, but because they just didn't want to bother with it. Someone else buys the car for dirt cheap, finds parts online, restores it, and there you have it. A clean, minor fender bender Buick Grand National with a rebuilt title. That's a go.
It varies. But the two scenarios are different. In your case, I'd stay away from the Ranger. Get something cleaner for a bit more.
For an '06 to have a salvage title, it must have been involved in a pretty bad accident.
I too was considering buying a salvage titled 1988 Nissan but was informed a salvage title is a big flashing "go away" sign.
However I later learned that a salvage title is issued when the insurance co. deems a vehicle in need of repairs more than the book value.
Meaning a slight fender bender resulting in nothing but cosmetic damage on that 1988 Nissan would render it a salvage title. Even though the truck could still be in mechanical shape. If it were to cost $2000 to repair the dent and paint the truck, but the truck only had a $1000 market value.
Also from what I've been informed, it's hard to sell a salvage titled car and sometimes hard to insure. But on the flip side if you planned on keeping it forever until the wheels finally fell off, it could be a bargain that pays for itself in the long run.
Now if I'm not mistaken, I believe a vehicle that was branded with a salvage title that was brought back from the dead, is supposed to be inspected and then issued a "rebuilt" title upon determining that it is now once again safe and roadworthy. However double check on this one.
Once saw a chevy caprice at the wrecking yard that had been hit in the rear by a truck. Mainly severe body damage to the trunk...still it was junked. Car had been owned by a older couple...45,000 on the spedo... Interior and front in beautiful shape. Engine compt was super clean... they fired up the engine for me to hear... which I bought for my sons pick up. It ran for yrs trouble free.
New a good body man who took a Comet and a Ranchero...cut them in halve and made a Comachero.
I wouldn't take advice from people over the internet on whether to buy or not to buy a salvage vehicle. This, as Omaha has stated, is purely a case by case type of situation. Everyone here is just spewing conjecture, you should have a knowledgeable person come and inspect the vehicle with you.
Salvage vehicles can be gems as well as complete swindles... beware.
Had a body shop many yearas ago and bought a salvage auto for almost nothing compared to one that was not salvaged. The steering seemed like it wanted to do the opposite that the driver wanted to do. A/C was OK until it got hot outside....COuld not align the front and the gas tank was damaged.
We took a big hit but I guess if someone wants to take a risk then a salvage car is OK...I would never buy a car with a salvage title.
It depends on a lot of factors, such as present condition of the vehicle and how it got the "salvage title" from the system.
For example, I bought a BMW 850 a few years ago with a "salvage title" for $2,500.00. The only thing that had been wrong with it was that it had been stolen, taken for a joy ride from a convenience store by somebody who seized the opportunity to steal it while the keys were in the ignition and the car was running ... while the owner was inside the store buying a pack of smokes. The police could not find the car, and the insurance company paid off the theft loss to the owner. A few weeks later, the car was found abandoned in a garage in Denver where a car theft ring had been operating. The car was intact, except for needing a rather thorough detailing ... but had to have an "S" title issued since it was an insurance loss vehicle. I got it for a cheap bid because everybody else assumed it had been wrecked and repaired.
So, there's lots of ways a car can get an "S" title and not have been seriously damaged .... another one .... a client of mine ran over a pothole with his MB 300SD, and ruptured the oil pan, lost all the oil, and kept on driving. Of course, the motor locked up soon after. The insurance company paid off the loss through it's "comprehensive" coverage, and I got the car for salvage at $500. The car was otherwise pristine and low mileage, and a replacement OE MB crankshaft was only $1,200. An easy replacement for me to do ... the rods and pistons were OK, so I just re-ringed the motor on reassembly with the new crank and bearings. Sold it for $8,500 and it ran another 300,000 miles for the sales rep that bought it without missing a beat.
If the truck you're looking at can be inspected by a knowledgeable tech and checks out OK, then you may be on to a real deal. Don't make a car buying decision on it's retail resale value, but it on it's present value and utility to your needs. Of course, you need to be able to obtain insurance, which in some states can be problematic for an "S" title vehicle ....
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