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I know the biggest question would be how it was damaged. But if you did not know would you buy a car with a salvage title?
I am looking at an RX-8 with 35K miles. Salvage title issued in 2004 with 980 miles. My concern is that what type of damage occurred to have a salvage title issued on a $26K car with 980 miles.
My goal would be to run it in BS this year. Moving to STX next year and NASA TT.
Advice?
It depends on what my purpose with the car was and how much it was. I've known people to buy salvaged titled cars and they've run them into the ground without issue.
For a dedicated track/race car -- at a great price -- I think it's the only way to go as long as the car checks out. You don't want a car that tracks funny or something like that if you're going to be putting it on the track.
Now if this was an expensive car (like the 07 335i I was looking at), so I would want a warranty (and wouldn't have it) then I say "no"
You know you won't keep it and it will be a PITA to re-sell. Run away.
^Point, you do need to consider resale value much more than the average person.
For a salvage, it could not have ever been wrecked. It could have come back from Rita/Katrina and been under water. If that is the case, it now has 34K more miles on it. Will you or someone be able check it out?
Keeping in mind two things:
- You will only be using it for a track/autox car, not a daily driver.
- you can probably get it for a steal.
I say go for it. I would strongly encourage you to test fit/drive an RX-8 (with a helmet) before you commit to buying, though. You may not fit, or you might decide you don't like it, and it will be tougher to flip a salvage title car, especially in this economy.
Then again, clean title '04 RX-8s aren't that expensive these days. Unless you can save a bundle over the cost of a clean car, you should probably walk away. The circumstances surrounding the salvage would lead me to believe it was a flood car. However, if it's gone 30k+ since then, perhaps everything is okay? Definitely have someone who knows rotarys perform a compression check, and plug in an OBDII reader and check for codes.
Nothing wrong with a salvage title as long as you pay a salvage price. When you sell it next week (and you will), ask a salvage price and only expect to get a salvage price.
If the price is right, the car checked OK and my plan is to keep it until the wheels fall off, I will go for it. The market for a salvage title car is not that big, especially in this economy, just like altian says. Giving your track record of changing cars, I afraid ....
Salvage is from Arkansas. I think I could get it for $7,500 or less.
You may want to find out if was water damaged. If so, run away if it was salt water. It will rust! Acutally you can check the bolts and nuts on the underside for sign of rust. An Arkansas car should not have any rust on the underside.
The FEMA website lists a flood in Arkansas during April of 2004 big enough the have the area classified as a disaster area. If you can find the date the salvage title was issued it may be a clue. Since it has been driven extensively since then it should be fine as a track car. I have seen cars with surprisingly little damage written off if there is a big loan on the car and the Lender/Insurer can get federal funds to cover the loss. I had a '72 GTO written off after hurricane Carmen in 1974 that I drove until 1990 when the third clutch went and I didn't want to mess with it.
Ken, make sure you fit in one first.
I'm 5' 7 and I have to lower the seat when I have a helmet on.
My son is 6' 2 and was going to co-drive with me this year but he found out he doesn't fit.
I'm not a tall guy, but have a long torso and sitting in Altain's car with my helmet was "bonk bonk bonk" on the track.
What color is it? I'd love to buy an '04 for $5,500 next month.Quote:
Originally Posted by ken o
Yeah, but the passenger seat doesn't have height adjustment. The driver's seat does.Quote:
Originally Posted by goofygrin
Ken, drop me a PM if you want to meet up somewhere this week and test fit my car before you pull the trigger on this.
Did you sell it yet?
Does it have a turbo?
I think I heard that it dropped a couple of intake valves.
Is the seller is "Joe" from Mesque?