What Are The Pros, Cons And Costs Of Buying Salvaged Cars? - Car Talk - Nairaland
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| What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by iluvnet(m): 6:17pm On Sep 25, 2011 |
Hi everyone, I have heard a lot about salvaged cars recently. I want experts in the house to please enlighten me the more. So, I will like to know the pros, cons and the cost of buying a good one. I will really appreciate if you can post pix of good salvage cars if you are in favour of it and what type of salvage cars one should stay way from(pix if possible). Thanks |
| Re: What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by Nobody: 6:41pm On Sep 25, 2011 |
A lot of these will be personal anecdotes. For me I will never buy a car that has a salvaged title or had been in an accident and have had major rework (I don't depend on a title to tell me if the car has been involved in a major wreck. My reasons: If you've watched a TV show called "Modern Marvels) they go into car productions facilities and if you notice the exacting standards that manufacturers use in making even the basica cars you will see that it's going to be impossible to make a wrecked car back as new. So for me it's peace of mind. The last thing I want to be worried about is what may fail when I'm tootling around at 100mph. Here is an example from the California Vehicle Registration Agency: [img]http://www.dmv.ca.gov/imageserver/dmv/images/newsrel/clip_image_before.jpg[/img] [img]http://www.dmv.ca.gov/imageserver/dmv/images/newsrel/clip_image_before2.jpg[/img] [img]http://www.dmv.ca.gov/imageserver/dmv/images/newsrel/clip_image_after.jpg[/img] I sure don't want to put my family and friends in such a contraption for sure. Additionally, the lie that asome buyers tell is that "Oh, it was involved in a slight fender bender and then salvaged by the insurance company". That's mostly HogWash, insurance companies won't just willy nilly salvage a vehicle like that. So now we've talked about wrecks, now let's talk about flood cars from Texas, New Orleans, etc I only buy cars from California and strictly from inland areas. Cars from the coast of California like San Diego, San Francisco, Long Beach, etc can and do rust due to the close proximity to the ocean and it's salt water. A lot of cars get flooded yearly by hurricane, tornado and whatnots, a lot of these cars are indeed branded by insurance as salvaged, unscrupulous dealers buy those cars and transport them across state lines and manage to clean those titles. Trust me you don't want to wish a modern car with electrical problems from a flood on to your worst enemy. As an Autoist and hobbyist I demand a lot fomr from my vehicles than just an A to B ride, so no salvages for me but it could work for others. Best of luck on your search. PS: When I move back to Nigeria, I intend to buy new Innoson vehicles so as to not have to worry about stuff. Others should consider same. |
| Re: What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by iluvnet(m): 7:09pm On Sep 25, 2011 |
thanks for your reply. from your post, am i right to say that there is no good that I can get from salvaged cars? Waiting for more replies. |
| Re: What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by Nobody: 7:37pm On Sep 25, 2011 |
iluvnet: Not for me but i fyou are told the truth about the history of the car, you inspect it diligently for hidden unrepaired damages, and the price is significantly lower (40% off of the cost fo a non salvaged vehicle is what I heard) then it may be a good possibility for you. An informed buyer is a happy buyer is my motto. 1 Like |
| Re: What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by tEsLim(m): 9:14am On Sep 26, 2011 |
Salvages are no no from the current experience I'm having. Plus if they're fixed in Nigeria just for sale. There are lots of hidden traps and stuff you have to deal with later. And you will pay back! Coupled with stress going to mech on and off. Buy clean title and get piece of mind. Instead of low mileage accident a clean title with long mileage is what I'll do next time |
| Re: What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by iluvnet(m): 10:05am On Sep 26, 2011 |
tEsLim: Thank you for candid opinion. Can you please clarify this statement. "There are lots of hidden traps and stuff you have to deal with later" We will like to know the kind of problems you experienced or dealt with later. Thanks once again. |
| Re: What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by aloyemeka1: 10:28am On Sep 26, 2011 |
Ask yourself why no air bags deployed when Da Grin had the accident in an 05/06 Nissan Maxima. Not that it will surely save his life but it may have done so. Those were one of the 'put-together' salvage cars imported from good ol' America. There are other consequences like teh steering locking midway, problems here and here. Types of salvage matters tho; a hail damage is salvaged in America but it ain't nothing. However, I will rather buy a car with 400 million miles and no accident than the same car with 200 miles but had serious accident. |
| Re: What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by metrixauto: 10:31am On Sep 26, 2011 |
My people there is nothing like clean titled car,it could be a bit more expensive than the salvaged ones,but it gives you the rest of mind and also save you from stress of going to mechanic everytime,meanwhile the money your were trying to save will be spent in mamy more folds and with much stress |
| Re: What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by inspiredm(m): 11:40am On Sep 26, 2011 |
Good Topic. . . . . |
| Re: What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by atasteve: 12:24pm On Sep 26, 2011 |
Life no get duplicate o. It is better to spend a little more than risking ones life. |
| Re: What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by r231(m): 12:37pm On Sep 26, 2011 |
. |
| Re: What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by blackmann(m): 12:47pm On Sep 26, 2011 |
[b]To me it's all about being lucky. Salvaged cars are not usually the best, but if you are lucky, you can get one that will not give u any issues. i remeber my last honda accord i used in nigeria was a salvaged vehicle. i never had any problems with it and it sertved me very well and dilligently for the 2 years i used it before i gave it to my brother. he also used it for another 2 years before he decided to sell it. so if you are lucky, you can get a good one. just make sure you get one with minimal body damage and not frame damage. Another thing many people fail to realize is most of those cars we have in nigeria being sold are salvaged vehicles. why do you think those dealers refuse people to write the VIN numbers down? another thing that is done here in the USA is these dealers buy the minimally damaged ones, take them to repairs, and then WIPE the title clean. I know this because i have an uncle in the business, and he deals in mostly salvaged vehicles. So even if you get a car that "looks" clean, you still have to be careful. So if you intend going for a salvaged vehicle, just be careful of the type of damage it will have. minor body damages (denteed fenders, bumpers, and other parts that can be changed) will be okay, but once it comes to cars with head-on collisions, deployed airbags, or frame damage, i will say don't go there. at least people do repair their vehicles in nigeria when they get into accidents, don't they?[/b] 2 Likes |
| Re: What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by pkv(m): 1:03pm On Sep 26, 2011 |
iluvnet:90% yes,if u r talking of luck in this regard blive me u r sure gonna nid a great deal,i bought a civic uk 4rm a car dealer in kaduna by trading my civic 88 and toping him some money, 2 weeks later,d car developed an electrical fault dat was byond d repair of foremost rewires at panteka kaduna, i didnt use it 4 6mnths but wat i spend in geting and later trying 2 fix d car wuld hav bought me a belgium graded hennesy straight 4rm cotonou.bro dont even tink of it.close eye buy wetin go giv u peace of mind except if u wan carry ur hand dig ur grave |
| Re: What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by TeeHaa: 4:00pm On Sep 26, 2011 |
I bought a Toyota Corolla 2006 model just over a year ago. It was salvaged, this I knew before I bought it (through the VIN nos). I bought it because I was very impressed with the low mileage (16Kmiles). And i confirmed (through inspection) that the engine is ok. 13 months on, the problems I expected were those that came about i.e. not so cool AC (i needed to change d condenser, n i mite need to change d evaporator), slightly faulty electricals i.e. auto windows+side mirrors). But I enjoyed seeing d low mileage and hearing the engine performance. Also d passenger airbag is gone. I bought the car 200k - 300k less than normal car dealer price. Will I buy another salvaged car in future? ANS: If the price is sufficiently low and all the important things being ok, I will. But the best advice is GET INFORMED BEFORE YOU MAKE THE DECISION. (afterall it's a >1Mill Naira purchase). 1 Like |
| Re: What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by Emperoh(m): 4:11pm On Sep 26, 2011 |
I have partly discussed this topic elsewhere and the paste below are excerpts of my contribution. We\'ll start from here before i give my take o the topic I decided to set up this thread to provide more insight to some of our buyers on the indices to consider before taking a purchase decision. It is also a fall out of my own mistakes in pricing and convincing buyers. I have learnt quite a lot and taught myself how to let go and help buyers in the process. That is why lately, i dwell on first of all advising a buyer than grabbing a deal. Other dealers inputs are welcome. I started this business by accident but particularly fueled by my love for cars. A cousin in Swiss started shipping in some low end cars through Cotonou and my decision to help him sell some eventually pushed me to start my own USA pre-order runs. It has been fun and eye opening as well. While at the same time, enriched my pockets in a decent measure. But how i got into this business is not my raison d'etre. I just wish to seek other dealers insight and also gauge consumer insight into various reasons why they take a decision to purchase a car from America or in Nigeria. Various buyers have accused me of parading expensive cars whereas that, being the source of most cars, purchasing from USA should be way cheaper than what is in Nigeria. Truth be told, that used to be my pricing strategy until the exchange rate spiraled out of control. From N118 - $1 to presently, N158 -$1 and then the influx of salvage cars from America; this one hit me most, i have lost count how many deals if have lost because of this and i am yet to device a fool proof strategy to bargain with clients in the face of these stiff oppositions. In truth, the amount of 'tokunbo' cars in Lagos is alarming. I even wonder how i manage to make the sales i do most times in the face of such availability. The auto market is a buyers market. But i do love to inform buyers of something. Cars, are not cheap and the cheap ones have a story or two behind it. Therefore, i do love to educate you on the three main categories of used "tokunbo" cars in the market, Or would i say purchase options. Number one on the list is your "clean title one user carfax" vehicle. This is every buyers dream but really, how cheap are they? They are not cheap. I will give you an instance. A 2003 Honda Accord with average mileage, one user and no accident history will cost you at least N1.8m but i sure have seen some going for N1.5m or N1.6m. Why is it so? This type of vehicle is a hot cake. Americans even look out for them and as they say, good soup na money make am. It also gives u peace of mind. But their pricing will put you off. You can hardly find this sort of car in Nigeria. Hardly!! The business man in us will tell u the gospel truth. The successful strategy in car dealing is pricing hence you have cut your cost and maximize as much profit in the sale. There are other categories that fall in this bracket but may never be as clean or 'neat as this one. Two or three user Carfax but with no accidents, those with minor but fixed accidents and re-certified by Carfax etc. These ones can come in a little cheaper but not as cheap as the other two categories. Number two is the accidented but fixed in America cars: this is my business line and i will give you guys pictorial illustrations. I also use myself as an example for this category as this is what i deal on. Assuming you don't have the money for number one above but want something with the quality of number one, this is your best bet. But bear in mind, the cost implications is not that cheap. Reason: Labour is very expensive in USA. It costs about $1000.00 to fix a body work and bake a car in US. But what comes out as end product can be termed brand new anywhere anytime. How does this work; i go to the salvage auction and bid. Notable ones include Copart, IAA etc. If i win the bid, i truck to my body shop and do the necessary repairs. The final product gives me joy but i can assure you it is not your best bet if you are conscious of price. But it is better than number one above in terms inf pricing. However everything has to be to standards and even get re-certified before coming to Nigeria. This is my best bet but not for a buyer who wants it cheapest. Option three is the buyers choice. But do they really know the quality of cars they are sold? I know most of them don't know about cars but i can give them a clue. Go to Berger or container discharging terminal at Tincan Wharf or National filling station and see what i am saying. I was there last saturday and i couldn't believe what we bring, fix and give to Nigerians to buy 1 Like |
| Re: What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by Aks(m): 4:22pm On Sep 26, 2011 |
90% of cars sold in NIGERIA are all salvaged vehicles to the extent that you find it difficult after repair to detect when buying vehicles from dealers, when I see pple advertising Tokunbo cars at a cheap price (EXCEPT INSPIRED AUTOS & FEW GUYS WHOSE PRICE ARE IDEAL ) on Nairaland , I wonder where they are getting their cars from cos good cars don't come cheap in US, CANADA e.t.c As for me, salvage cars with minor dents at the sides (not front or rear) is still OK otherwise buying a clean titled cars might be the ultimate option but this come at a high price + high mileage 3 Likes |
| Re: What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by igbogolo: 4:44pm On Sep 26, 2011 |
Before you think of buying a salvaged car, please ride 100m behind one. The cars 'run' like it has no centre bolt and sideways like local nigerian dogs. while you may be inside with your raybans, chilling with windows up and nodding your head to your favourite nigerian tune, you may not sure why passers by look at you. You may think you are attracting jealous stares because of your new automobile, but I am sure people will be looking at you and wondering why you made the mistake of buying a salvaged car because you would not be able to see how your car looks from a distance. forget the cheap gloss and the paint, Go for peace of mind and get a car without major accident history. |
| Re: What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by kokoye(m): 4:56pm On Sep 26, 2011 |
The poster must be strong o! . . .this thread is on the hompage twice! |
| Re: What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by tolu10: 5:37pm On Sep 26, 2011 |
The real truth, is that there will always be a market for both Clean vehicles (Non Salvaged Vehciles) and the Salvaged vehicles. The only reason why there is a market for salvage vehicles is mainly because most buyers think they can get vehcles for less than their true market value and that is why they get F*****.However, a lot of buyers are unsuspecting. Also keep in mind that all salvage vehicles are not bad. Even when you tell most buyers they don't listen; all they think about is the price and the external appearance of a vehicle. Most of them are victims of their own greed. So now, if you are a dealer and you paid full maket value for a car and a buyers leaves to to buy from someone else because they are selling a salvage vehicle for cheaper.Who do you blame? Th dealer who buys non salvaged cars will have a very had time selling. And in some cases the buyers may even ridicule the seller, even though he or she is following a high ethical standard. 1 Like |
| Re: What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by splitnaija(m): 7:53pm On Sep 26, 2011 |
kokoye:  |
| Re: What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by femmy2010(m): 8:48pm On Sep 26, 2011 |
Clean titles cars might been also been in accidents too, but have no records of it,so i would rather buy a car that i know the history of, than a clean car at a higher price that could have been in a really bad accident. If the car has been fixed professionally, it will work great and will last a long time. |
| Re: What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by iluvnet(m): 10:56pm On Sep 26, 2011 |
femmy2010: Thanks for your views. However, since I know you to be an expert in this business. What kind of "dent" or "accident" is safe? Am I safe buying cars with dented side or dented backside as I know that head on collision is not appropriate. Also, what else should I look for inside the car as some sellers may show you a very nice interior. Thanks everyone for your views. Am really enlightened on the topic. Your views will surely shape my final buying decision. |
| Re: What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by iluvnet(m): 10:58pm On Sep 26, 2011 |
All the views so far has been about the pros and cons. Can anyone please give us the cost of having a salvaged car from anywhere abroad to Lagos, Nigeria? |
| Re: What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by Belewu: 11:01pm On Sep 26, 2011 |
Bought a 2009 CRV Ex for $13,500 that had a salvage title and was professionally fixed including the airbag that had deployed (yes this can be repaired). Ran a diagnostic check after purchase which highlighted no issues. It had 6500 miles on it. One year later still no issues with the car. Taken it to Honda twice for routine maintenance, still no issues. Practically got a brand new car for half the price. Moral of the story, not all salvage titles are bad news but u gotta be extremely fortunate to get a good one 1 Like |
| Re: What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by Nobody: 12:22am On Sep 27, 2011 |
I am into the business. I send cars from New York. Most of the time, I look for cars with slight body damage. However, if you are buying the salvage titled cars, you have to ensure that the damage was done only on the rear or the side. That's the secret that will help you prevent getting any complaints later from your customers. |
| Re: What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by klas(m): 7:20am On Sep 27, 2011 |
We should differentiate between a vehicle involved in just an accident and a salvaged vehicle. A dent or fender bending accident will not be classified as salvage. A salvaged vehicle is beyond economic repair for the insurance company, so it must be very major accident or incident like flooding. Insurance companies are in business to make profit and will therefore not fritter money away by declaring minor accidented vehicle as salvage. |
| Re: What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by Nobody: 7:32am On Sep 27, 2011 |
klas: Most eloquently stated. If a wreck is severe enough for the vehicle to be declared salvaged by the calculating insurance sharks then it's not for me and I don't care if God himself came down to do the repairs personally. |
| Re: What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by inspiredm(m): 9:34am On Sep 27, 2011 |
Somorin#1: YES, These Severely damaged Cars are What a Typical NIGERIAN Car Dealer Will Buy, Fix, Paint and then SELL Most of the repairs Are even Done Locally in Nigeria because of the High Cost of Labor to Fix it in the USA. 95% Of Cars in Nigerian dealers Shops are SALVAGED Cars, If a dealer Buys a Clean Title Car, Most Nigerians Will Complain its TOO Expensive and Compare prices to other SALVAGED Cars. Nothing wrong With Salvaged if its properly Fixed, But Comparing the price of Salvaged and Clean title and expecting them to cost the same is Annoying. |
| Re: What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by Aks(m): 10:12am On Sep 27, 2011 |
@ inspired --- well stated, u really hit it on the head |
| Re: What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by Sprumbaba: 10:23am On Sep 27, 2011 |
Not all salvage cars are bad. I have Honda Civic 2007. I bought it same year for $5,800 and fix it for $1,500. I am still driving it to run errands and I only changed 2 tires since. I have put 40,000 miles on it. The secret is, don't buy front end collision. Buy those that are not heavily raped at the back. You can also go for hail damaged car. There is no mechanical fault with hail damaged cars except little dents. You can also be lucky, I bought 2001 Honda Odyssey ( last year ) for $1,600 and I spent $50 to buy only struts and it was fixed for free. I have been burnt though but I no my way around it. Finally, I will tell una to be cautious of salvage cars because you need to see the kind of cars your peeps abroad are sending home for sale. They only care about making money not about the person that will drive the car. |
| Re: What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by atasteve: 11:30am On Sep 27, 2011 |
igbogolo: LOL  |
| Re: What Are The Pros, Cons And Costs Of Buying Salvaged Cars? by atasteve: 11:35am On Sep 27, 2011 |
kokoye: I guess is because the thread touches the area of interest of most people. |
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