I am just considering going to look at a 2008 prius with 13,000 miles on it for about $14,000 (asking price only, he said he is negociable). Here are the issues. It still has a salvage title from fresh water flood damage. He bought the car from the insurance company, and says he has receipts to show that all the computers and the battery were replaced, and the car as he describes, is in "great running order". Considering price, I am trying to determine if this is something I should even consider, I know that this could end up being a real headache, but, IF I were to go see this car and everything seemed to work, and the receipts show what was replaced, is this possibly a great deal on a low mileage prius? I may be able to pick this thing up for say 12 grand. Opinions?
hmm not bad but you can do better on the price then that considering its title and value because of it reguardless of it running
Have mechanic check it, and/or have warranty as a part of the deal (not sure if 3rd party warranty would cover if something found later). Besides electronics other concerns are bearings and complete oil changes in engine and transmission (later may need several flushes) Putting mechanical side aside main concern would be mildew and allergies, but Phoenix is very dry so it will be lesser of issue. Still if I were to get that car I would spend time spraying insides with tea tree oil solution good luck Kelly book value for car in fair condition $19K for reference
Never buy a salvaged car. I know too many people who did and almost all had problems down the line, or said something like "I had to xxxxxx because it was salvaged." It does make a difference. $14000 is way too much anyway. New salvaged cars are usually like $5000. edit: A salvaged 08 Prius should be way less than $5000- I was thinking of salvaged $30k Lexuses. Also flood damage is the worst, as it can damage the transmission. You can ignore almost everything the mechanic and seller tells you. Just because it's working now, doesn't mean you're home free. Just a terrible terrible idea. Do not buy this car. There are a million Priuses out there in great condition. You don't need to settle. Good luck!!
I saw that car on CL and considered it, but I made the mistake some years ago of buying a salvage title vehicle (xB), nothing but problems. I will never buy salvage title again.
My advice, STAY AWAY for that price. WHY? Because of a few things that folks do not think about. First, warranty, it no longer exist. Second, insurance. Call your insurance company and ask them if you bought that car and totalled it out, how much would they pay you? And some insurance companies will not even give you coverage on a car with a salvage title. Another thing is financing. Most banks will NOT finance a car with a branded title. This not only effects you now, but if you buy the car, one day you will sell it, and when your buyer tries to get financing, they will run into the same problem. So it is harder to sell. My rule of thumb, a vehicle with a salvage title is a super risk. The value of one, even is great shape is about 1/2 -2/3 of book value. And then you are playing russian roulette.
The purchase of any salvage vehicle is risky because there is no warranty and you can usually expect that shortcuts have been taken during its repair. The purchase of a flooded Prius is likely the worst choice that you could make. It has already been pointed out that the powertrain may have been damaged in the flood. I am more concerned that intermittent wiring harness connections will develop due to the car's immersion in water. Once this starts, it will be almost impossible to correct without the expenditure of tremendous effort and $$$$.
+1, that's the big problem. You can replace computers, tear down and inspect mechanical components, but the only way you will definitely avoid electrical problems is to replace every harness and connector that was below or close to water level. If you don't, problems can show up for years. A technically competed person, or a person with a technically competent friend on call can handle a vehicle that was salvaged because of accident damage, but stay away from flood damaged vehicles unless someone wants to give you one litterally for free and you like haveing problems to solve for years to come. IMNSHO, flood damaged cars are only good as a source of carefully inspected mechanical and body spare parts.
$14000 for a flood damaged salvage 08 Prius is INSANE. Patrick Wong is one of our resident repair experts and I agree w/his advice too. Run away! Although I'd never buy a salvage vehicle, this flood damage case is very different than say that of http://priuschat.com/forums/gen-ii-prius-main-forum/51021-i-just-acquired-new-project-vehicle.html where jelloslug bought an accident damaged car and spent 2 months fixing it up.
