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If a car has a Junk title then it's worse than a salvage title! A Junk title is also known as an unrebuildable title or a Certificate of Destruction.
It means the car is NEVER supposed to go back on the road. Either because it's an older car with heavy damage or the car was so badly damaged that it was deemed impossible to properly repair it and make it safe to use again.
DO NOT BUY IT! PERIOD!
On the other hand if you don't want it why would someone else, unless they could get it for a steal?
-Ryan
Regards... Vikd
-------UPDATE----------
What do you know. Guess I should have "googled" before I posted. Unlike Massachusetts, California can "revive" a car with a "junk" title (previously dismantled). It involves paperwork, info about the rebuilder, proof of purchase for every part that went into the rebuild, alot of fees, and an inspection by the California DMV. So perhaps this car has been through that proccess. That being said, you could have problems getting a loan (if neeeded), insurance, and futre resale problems. As others have advised, there are many more fish in the ocean. http://www.dmv.ca.gov/pubs/brochures/howto/htvr4.htm
Don't even THINK about buying that car!
-Ryan
2. You NEVER plan to sell it, ever.
3. You get a mechanic you trust with your life (because that's what you're doing) signs off on it.
Even then, be very afraid.
Based on the info on the Maxima SE .. (without seeing it and getting a touchy feely) it's worth "around" $3 grand, might pay $4,0/$4,5 on the retail side .. the hard part is, if you go to sell it, who's going to buy it ..? that market is about as big as a thimble ..
I would be going to "Down the Road motors" if I were you ..
Terry.
-Ryan
Terry.
The work is being done by Scottsdale Paint & Body. They are supposed to be very reputable but are very slow.
We have to sell the car because my son is in a wheelchair. Our insurance wouldn't pay for anything large enough to accomodate it. So, we financed a new Odessey right away with the hope that we could pay most of it off with the sale of the old one.
Thanks
Is this true thetwoakids?? Why would you purchase another brand new veh while yours was in the shop being repaired...? Sorry dude, but this is close to one of the more, ahem, questionable decisions I've ever heard of...and you certainly won't get anything for the used one commensurate with what you paid for the new one. I wish you luck but I fear you're in deep with this one...!
Regards... Vikd
Terry.
Terry.
Many mfrs. offer special programs for the handicapped. Such as special financing,cash money
towards special equipment, lifts, etc.
I know GM, Ford, Mopar have such programs aval. on NEW vehicles...Not sure about honda tho.
My uncle has a new xcab S-10.....GM mobility program paid $$$ to equip his vehicle with a wheel chair lift and hand controls. The lift is pretty nifty. It folds out from behind the rear seat and lifts him and chair up to seat. Then they both fold and return to behind the seat.
http://www.gmmobility.com
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Lets say the car is a 3 year old American car like a Chevy Impala or Ford Taurus that would retail for 10-12 thousand dollars.
The difference between what the dealer allows you for the wreck plus the check (or the repaired wreck alone) and what the van is worth unwrecked (retail) is the diminished value.
I had a car totalled in Dec; my ins agent was a great deal of help in settling the claim.
On the other hand, another person I know had a relatively new Civic four-door receive a month and a half of repairs at a less-reputable shop, and what he got back was still basically a wreck--everything misaligned, things constantly breaking, rattles, etc.
What I've learned from the former story is that it's true that a car can come out of surgery in terrific shape--but you have to have some real pros working on it, and it won't be cheap. The latter story is more common. Because only you (the owner) know which category your car falls into, potential buyers are always going to price their relative uncertainty into their offer and that's the problem.
Sorry I don't have anything firm to share, just these anecdotes, but I do have a respect for what a top-notch body shop can do these days.
Can I claim a gold star or did I miss something (like everyone else seems to have done)?
Regards... Vikd
Who is still waiting for a reason to NOT think the original poster is completely insane...
I bought the first Odessy b/c I needed a mini van to accomodate his wheelchair. I bought it strictly b/c of its safety record.
After the recent accident, the reason I walked away neither dead nor seriously injured was b/c of the Odessy.
The rental car the insurance company would not have allowed enough room for my first son's wheelchair. Let alone the stroller for my baby son. And certainly not groceries or such on top of that. We could not have gone anywhere.
So we had to do something. And, after being hit badly twice, I would only be in something safe. Hence the second Odessy.
It may have not been the best financial decision but it was the safest one (and most realistic given the wheelchair). But, given my loss of use, diminished value and the money I have spent to insurance the first Odessy while it sits in the auto body shop, I am hoping not too bleed money after this accident.
I came to this site for guidance on what to price my car at. For those who have helped, thank you. For those who choose to insult me, why? Does it make you feel better?
As for moving forward...you can just hope to get as much on the repaired Odyssey as possible and apply the proceeds (assuming the repaired one is payed for) towards the new one. Unfortunately, the price for your short term safety/utility concerns will be steep, especially if you still owe on the first van. Either way, you'll be out more $$ than an additional $20 per day for a suitable rental vehicle during the repair period. Again, I do understand your safety concerns. However, I tend to be a logical/pragmatic/common sense type of thinker. This would have prevented me from making the same decision you did; it's that simple...no insults meant.
kinley-- I take offense to those implications. thetwokids hasnt exactly spent a whole lot of time in this thread further expalaining the situation and/or answering follow up questions sufficient for decent responses. I'm sure youre aware of the amount of "hit-and-run" type of posters there are here on Edmeunds...I had no reason to believe thetwokids wasnt one of them...
Regards... Vikd
Apologies from me not deserved. Kinley
http://www.accidentcheck.com/add001.htm
http://www.autoappraisal.com/value.htm
Maybe also run a search on "diminished value" + auto + insurance + "your state"? In GA, for example, diminished value compensation is legislated.
I'm aware of what I wrote, thanks, and continue to stand by it. I think most would agree that what t2akds did was financially irresponsible and logically questionable. The tone of my post may have come across a bit harsh, but the spirit and message remains the same. I wasnt trying to insult, just trying to tell it like it is...t2akds is not in a good position. If you feel otherwise, please explain. I'd like to know how you're industry expertise and financial wisdom could extricate t2akds from this particular situation. At least I have provided an opinion on the subject at hand. You on the other hand, well...
Regards... Vikd
Regards... Vikd
When you drive at home, its value is
depreciated at 15%, (normal is 25%). Thus,
without accident, you will ask about $21,250.
The repair cost has about $10,000. If I were
a buyer, I will consider it if you reduce another
30%, (Normally when the car is totalled, it needs
to reduce another %40-%50). That is, $14,785. Now
the question is, if the buyer has $14,785, he/she
will buy a used one with accident history. This is why the private market for 2-3 years' used car
is much difficult than 7-10 years'
Help
Tina
Disclosure laws vary state by state, but I wouldn't try to force anything before trying the easy approach.
Safe to drive? Beats me. If the damage was severe enough, it won't handle a second crash as well as it handled the 1st one. An good independent mechanic could tell you more. Even so, the crashworthiness issue would keep me out of it.
If you are seriously looking to search for a car, get a 30day membership to carfax. It will help you to avoid this problem in the future. Oh, and for the 2k market, you are probably better off going to private party in your local paper, will see better deals, and usually can actually meet the people you are buying the car form(usually more flexible too)...
hope this helps.
Should I expect any diminished value, if so how can it be determined.
1 Will it be on Carfax?
Alot of consumers will walk away from any car w/ even a minor accident report on Carfax, hence many dealers will also.
2 How obvious is the repair?
I've seen some very good and very bad minor repairs. How well the car presents itself will have alot to do with it.
As to the dollar amount, it really depends on the situation. Generally, a dealer will go higher on a car they plan to resell. If they are planning to wholesale a car due to one or both of the reasons above they will be more reluctant to put top dollar in a trade.
This is a GM certified vehicle. I ran a Carfax report and it came back clean. The dealer that is selling the Tahoe is the same dealer the repaired it.
Is 32k a fair price? The Kelly Blue Book Private party price is 35k, the KBB retail is 40k. If I could find a new 04 still on the lot, it would probably sell for about 36-37k after all rebates.
should I be worried about it?
Any help is appreciated.
All the replacement parts were new, but the hood, front fenders, front doors, etc were all repainted (to blend)-
And what kind of hit would it take on trade-in? It really does look great, and rides/drives as it did the day we purchased it-
Thanks-