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      11-13-2020, 10:24 AM   #1
mistymountains
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Salvage title value?

Hi,
Thereís a 1m in my area that seems otherwise okay but for a salvage title. Repair job seems fine but the hood isnít original (Seibon Carbon) and the car is wrapped. Now, seller is asking a fair price for the car if it were a clean title. But itís not. Whatís the value of a salvaged 1M? 30% less? Interested to hear your opinions. Thanks!
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      11-13-2020, 11:05 AM   #2
Rekraps
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Value is what one is willing to pay. I would look into the reason for the salvage. A wreck (total) is one thing, flood is another, fire is another.

If you intend to use the car as a DD or track it, then the value will fall into the range for those cars. Clearly this is not an investment buy.
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      11-13-2020, 11:28 AM   #3
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Quote:
Originally Posted by Rekraps View Post
Value is what one is willing to pay. I would look into the reason for the salvage. A wreck (total) is one thing, flood is another, fire is another.

If you intend to use the car as a DD or track it, then the value will fall into the range for those cars. Clearly this is not an investment buy.
yes, I agree completely with rekraps. These cars have high value so the damage must've been extensive to reach 80% of car value. Let's say the car was valued at $47K, it would have to been about $37K in damage to be salvage and not repaired or something around there. Salvage car if repaired decently would be great for a track toy or even daily driver so it really depends on what you want to pay for it. It sounds like you don't see the value in it right now so stick to your gut. Also if you want to insure it but they are asking clean title money for it what happens if you get in a wreck and paid close to full price. The insurance will value it at much less. Same if a tree falls on it etc. I have seen some high mileage clean title ones that would probably be a better deal but the key is follow your gut. People can ask whatever they want as long as someone is willing to pay for it. Best of luck.

Last edited by nachob; 11-13-2020 at 11:39 AM..
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      11-13-2020, 11:52 AM   #4
NorthernDancer
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Good comments above. I might add:
1. try to get a CarFax to get more info
2. you'll want a PPI including a good body inspection
3. why would someone wrap a 1M? [more money than brains?]
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      11-14-2020, 10:05 PM   #5
etr2016
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Is this the 1M from the BackYardBoyz youtube channel?
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      11-17-2020, 02:42 AM   #6
rbz_m
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There are very few 1M's in existence, so even the salvage title cars are going to command high prices.

My concern with this particular car you mentioned is the wrap. There is no way to verify the condition of the car underneath the wrap.

In this case, it makes sense to just find one with a clean title.
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      11-17-2020, 04:47 AM   #7
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I'd find out the vin and do some digging. been plenty of details of salvage repairs posted in the forums -
https://www.1addicts.com/forums/show...77&postcount=1

It's not recommended on normal production cars for salvage title yet the 1M isn't normal. If you go for this 1M as long as you drive the shit out of it who cares, this is the type of car that the more miles it has gives more peace of mind.

If you plan to baby the car as a trophy, move on to clean titled ones. the 30% is subjective, a broker would prob tell you 60-75% and CL post legit sale 15-25%. either way it'll always be Caveat emptor.
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      11-17-2020, 11:12 AM   #8
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I found the CL post of what I assume the 1M ur looking at and for that price, my advice spend $10k more find 20-30k fewer miles for a clean title.

I'll put it this way, even on BAT 1M results in better value
https://bringatrailer.com/bmw/1m/

I'd compare gray CL 1M car to this BAT gem-
https://bringatrailer.com/listing/2011-bmw-1m-34/
the issue with this gray 1M is it's basically a track car with the hood and steering wheel mods, maybe a drive the shit out of daily. the BAT Black Beauty was a known track only sale and which one would you rather buy?
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      11-18-2020, 11:01 AM   #9
mistymountains
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Appreciate the input. I never went anywhere near the car after a day of thinking about it. Itís enticing to see a cheap 1M but Iíd rather pay more for one without stories.
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      11-18-2020, 08:27 PM   #10
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Quote:
Originally Posted by mistymountains View Post
Appreciate the input. I never went anywhere near the car after a day of thinking about it. It’s enticing to see a cheap 1M but I’d rather pay more for one without stories.
This was not just a story this was Halloween uncut. : ). Good call
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