Newbie question: salvage bargain?

Aardvick · 03-15-2006, 01:47 PM

Hi everyone, There is a beautiful salsa red 2005 with a salvage title that I'm considering buying... It was damaged in a hail storm and written off for some reason. How big a risk would it be to own a Prius without a warranty? Have any of you *used* your warranties yet? Anyone have experience with salvage titles?
Thanks for you help!

cmwade77 · 03-15-2006, 02:55 PM

Quote:

Originally posted by Aardvick@Mar 15 2006, 11:47 AM
Hi everyone, There is a beautiful salsa red 2005 with a salvage title that I'm considering buying... It was damaged in a hail storm and written off for some reason. How big a risk would it be to own a Prius without a warranty? Have any of you *used* your warranties yet? Anyone have experience with salvage titles?
Thanks for you help!

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If it's over $500 I wouldn't reccomend it, there can be a ton of hidden damage and without a warranty who knows how much you'll end up spending.

Alrobot · 03-15-2006, 03:06 PM

I don't think the salvage title has anything to do with the warranty, especially since you can buy one online here. I thought the battery warranty was a toyota think and not related to the title.

AlphaTeam · 03-15-2006, 03:10 PM

*IF* it was just hail damage and the price was right I'd consider it. I'd really want the specifics on why it was salvaged. If it was just body damage and it was cheap enough....that is for you do decide. But they seem pretty reliable. I'd ask my local dealership what the average cost would be to replace a high end item and kind of factor that in to your price. For example...if the ECU went bad to the tune of $4000. Would you still be under the price of what it would have cost new? I guess what I'm saying is make sure you are getting enough off the original price to warrent the risk of buying a salvaged car.

AlphaTeam · 03-15-2006, 03:11 PM

Quote:

Originally posted by Alrobot@Mar 15 2006, 03:06 PM
I don't think the salvage title has anything to do with the warranty, especially since you can buy one online here. I thought the battery warranty was a toyota think and not related to the title.

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If I'm not mistaken once a car is "totaled" then all warranty's are void.

KTPhil · 03-15-2006, 03:15 PM

You may not be able to insure it, either.

Salvage usually means the cost to repair exceeded 80% of its current value.

What damage costs more than $15K to fix? Obviously there is more damage than is evident. Ask for a copy of the insurance report that determined it was to be salvaged.

galaxee · 03-15-2006, 03:18 PM

yep, once the car is totaled, you don't have a warranty anymore.

if it's worth it really depends really on how much you're saving vs buying new. remember all TSBs and such that go out, unless they're recalls, will not be covered. there are some pretty expensive computer items (MFD, many ECUs, etc) that rarely go bad, but when they do... yikes.

the MFD and stereo unit have out-of-warranty exchange programs for those unfortunate enough to experience trouble out of warranty. for everything else, you'd be on your own.

incidence of trouble is pretty low, there are few prii in the shop around here (for anything above and beyond general maintenance that is) in comparison to the huge number out on the roads in my area.

up to you if you want to take the chance. good luck

galaxee · 03-15-2006, 03:19 PM

Quote:

Originally posted by KTPhil@Mar 15 2006, 03:15 PM
You may not be able to insure it, either.

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oh, good point. yes, could very well have a hard time getting anything more than liability insurance.

tochatihu · 03-15-2006, 03:34 PM

I have noted that people do buy salvage Prius on ebay. Since mid-Oct 2003 23 "urepaired" classic have sold for an average of $6300. The 90 repaired ones depreciate about like cleaned-titled Prius (roughly 7 cents per mile), but from a lower starting price of about $13600. Sorry no data about the new model Prius. Too many hobbies already. Who needs a hobby? Watch new model Prius sales on ebay.

aaf709 · 03-15-2006, 03:38 PM

Quote:

Originally posted by galaxee@Mar 15 2006, 12:19 PM
oh, good point. yes, could very well have a hard time getting anything more than liability insurance.

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Yes, when my wife's Windstar was in an accident (nobody hurt), the insurance company wrote it off as totaled. We then had a choice either take the money OR take the car and the money (less 20%), take it to a body shop, get it fixed, take it to the Highway Patrol to confirm it's drivable, take it to the DMV and have it listed as "salvaged." After that, we wouldn't be able to get collision insurance (we ended up taking the money).

03-15-2006, 03:10 PM	#4
AlphaTeam Senior Member Join Date: Jul 2004 Location: Earth Posts: 631 My Car: 2006 Prius Package: #7 Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	IF it was just hail damage and the price was right I'd consider it. I'd really want the specifics on why it was salvaged. If it was just body damage and it was cheap enough....that is for you do decide. But they seem pretty reliable. I'd ask my local dealership what the average cost would be to replace a high end item and kind of factor that in to your price. For example...if the ECU went bad to the tune of $4000. Would you still be under the price of what it would have cost new? I guess what I'm saying is make sure you are getting enough off the original price to warrent the risk of buying a salvaged car. __________________ 2006 Classic Silver Metallic with Package 7 12-9-05

03-15-2006, 03:18 PM	#7
galaxee running WOT until out of fuel Join Date: Mar 2005 Location: central NC/ western WI Posts: 9,066 My Car: 2005 Prius Package: #5 Nominated 5 Times in 3 Posts TOTM Awards: 0 Friends: 21	yep, once the car is totaled, you don't have a warranty anymore. if it's worth it really depends really on how much you're saving vs buying new. remember all TSBs and such that go out, unless they're recalls, will not be covered. there are some pretty expensive computer items (MFD, many ECUs, etc) that rarely go bad, but when they do... yikes. the MFD and stereo unit have out-of-warranty exchange programs for those unfortunate enough to experience trouble out of warranty. for everything else, you'd be on your own. incidence of trouble is pretty low, there are few prii in the shop around here (for anything above and beyond general maintenance that is) in comparison to the huge number out on the roads in my area. up to you if you want to take the chance. good luck __________________ black 2005 prius, tweaked just the way i like it my diagnostic guy on electronics: "lack of troubleshooting ability is due to a high common sense rejection ratio."

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03-15-2006, 01:47 PM	#1
Aardvick Join Date: Mar 2006 Posts: 9 My Car: Package: Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	Hi everyone, There is a beautiful salsa red 2005 with a salvage title that I'm considering buying... It was damaged in a hail storm and written off for some reason. How big a risk would it be to own a Prius without a warranty? Have any of you used your warranties yet? Anyone have experience with salvage titles? Thanks for you help!

03-15-2006, 03:06 PM	#3
Alrobot Join Date: Sep 2005 Location: La Verne, CA Posts: 41 My Car: Package: Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	I don't think the salvage title has anything to do with the warranty, especially since you can buy one online here. I thought the battery warranty was a toyota think and not related to the title.

03-15-2006, 03:15 PM	#6
KTPhil Senior Member Join Date: Jan 2005 Posts: 1,213 My Car: Package: Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 0	You may not be able to insure it, either. Salvage usually means the cost to repair exceeded 80% of its current value. What damage costs more than $15K to fix? Obviously there is more damage than is evident. Ask for a copy of the insurance report that determined it was to be salvaged.

03-15-2006, 03:34 PM	#9
tochatihu Senior Member Join Date: Apr 2004 Location: Kunming Yunnan China Posts: 1,813 My Car: 2001 Prius Package: Pioneer #1 Nominated 0 Times in 0 Posts TOTM Awards: 0 Friends: 7	I have noted that people do buy salvage Prius on ebay. Since mid-Oct 2003 23 "urepaired" classic have sold for an average of $6300. The 90 repaired ones depreciate about like cleaned-titled Prius (roughly 7 cents per mile), but from a lower starting price of about $13600. Sorry no data about the new model Prius. Too many hobbies already. Who needs a hobby? Watch new model Prius sales on ebay.