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Old 01-25-2011, 11:58 AM
vtec_sheikhani vtec_sheikhani is offline
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2006 Accord with rebuilt title

Hey, i am new to this forum and I needed some help from you guys. I am looking to purchase a 2006 Honda Accord EX-L V6 with a rebuilt title. I have talked to the owner and he stated that the car has been inspected by the secretary of state of Illinois (where i live) and he has all documents of the repair work done, he has also sent me pictures of the car before repair:

https://mail.google.com/mail/?ui=2&i...disp=inline&zw

https://mail.google.com/mail/?ui=2&i...disp=inline&zw

https://mail.google.com/mail/?ui=2&i...disp=inline&zw

https://mail.google.com/mail/?ui=2&i...disp=inline&zw

as you can see from the pics the damage is not that great, as i am getting a great deal for the car. Now my question is is there anything i should be worried about when getting this car, would the car have to be inspected once again when i try to register the vehicle under my name? Also do you think it would be worth getting a car with a rebuilt title, do you think i would run into any troubles down the road with the car? thanks for any help in advance.
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Old 01-25-2011, 12:01 PM
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Zembonez Zembonez is offline
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Can't see your pictures, but buying a salvage title vehicle is a risk. Some insurers will not insure them. Some banks won't loan money on them. If you are paying any more than about 70% of LOAN value, you are paying way too much.

I've been a car buyer for many years. It's what I do for a living.
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Old 01-25-2011, 12:06 PM
vtec_sheikhani vtec_sheikhani is offline
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i tried uploading the pics again let me know if they dont work
Attached Images
    
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Old 01-25-2011, 12:12 PM
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The damage is not too extensive. If it was repaired correctly it could easily be a reliable car. Were the airbags replaced? How much is he asking for the car?
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Old 01-25-2011, 12:15 PM
vtec_sheikhani vtec_sheikhani is offline
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He is selling it for 9200 with 68,800 miles and 4 brand new winter tires along with 4 summer tires with 50% tread left
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Old 01-25-2011, 12:15 PM
jeffislouie jeffislouie is offline
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Here are some things to think about:
- a car that has had to undergo such massive surgery that it requires a "rebuilt" or salvage title will never be factory perfect. You can anticipate problems, depending on what was actually done (and by who). Cars that have had this much damage always have problems down the road.
- your resale value is going to be way lower than a non-rebuilt car and there are people who will pass it by no matter how cheap you want to sell it for. I assume the deal is very good, but with that deal comes the inevitable consequence that when you go to resell it, you will also have to price it at an incredible deal - and be forthcoming as to the history of the car

If it were me, I'd walk away and keep looking. Cars with this much damage can be hella cheap, but can also come with a host of constant problems. Think hard - this could be a huge mistake.
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Old 01-25-2011, 12:18 PM
jeffislouie jeffislouie is offline
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Price is too high for a rebuilt title.
Walk.
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Frankly, even though this forum has a lot of very nice people, the few bad apples around here have gotten on my nerves. I simply don't care enough to log on and try and help others when all too frequently, I get mocked or made fun of.
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Old 01-25-2011, 12:21 PM
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Loan value on that car is not over 10,000. Anything over about 7000 is too much money if you ask me. Salvage titles affect everything. No matter how much BS this guy gives you, it is still a rebuilt salvage vehicle and will be branded on the title as such for life.
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Old 01-25-2011, 12:22 PM
Ilovemy06VtecV6 Ilovemy06VtecV6 is offline
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Quote:
Originally Posted by jeffislouie View Post
Price is too high for a rebuilt title.
Walk.
Tell him "YOUR PRICE IS TOO HIGH FOR A SALVAGE TITLE" I guarantee you he won't put up a fight. This car is not worth a fuss over price anyway. If seller goes way down south on the $, it could be worth it.
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Old 01-25-2011, 12:24 PM
slotlessman slotlessman is offline
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Too much money for a salvage vehicle. I would walk away.
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Old 01-25-2011, 12:29 PM
vtec_sheikhani vtec_sheikhani is offline
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I appreciate all your guys opinion and i believe i will walk away from this car, even prior to posting this thread i had offered him 7500 for the car and he said no way even after explaining to him that a salvaged title loses almost 40% of this value and his car is worth no where near the original 10500 he was asking.
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Old 01-25-2011, 12:34 PM
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Yes, smart man, run from this. You can get a clean 04-05 Accord for 9K with 50-60K miles.
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Old 01-25-2011, 12:41 PM
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I tend to agree. Price is just too high.

Just because a vehicle has a rebuilt title doesn't automatically mean it is a POS.

I've seen vehicles totaled by insurance companies that had very little physical damage. It has NOTHING to do with the type of damage a car sustains. It has everything to do with how much it is going to cost to repair the car versus the amount of money the car is worth - plus you have to add in the amount of money the insurance company is going to be out for a rental car while yours is being fixed.

It's simply a money formula. Once the cost to repair reaches a certain percentage (varies by insurance company) they pronounce the car a "total".
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Old 01-25-2011, 01:08 PM
vtec_sheikhani vtec_sheikhani is offline
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Quote:
Originally Posted by golftango View Post
Yes, smart man, run from this. You can get a clean 04-05 Accord for 9K with 50-60K miles.
sadly I have been unsuccessful finding a car around there, that was my original price range 9k with up to 75k miles, but cannot find anything around chicagoland area
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Old 01-25-2011, 01:12 PM
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Wow. If I didn't like my Accord so much, I would unload it for a nice profit.
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