Just go to the bottom for a summary if you dont want to read my whole post.

As some of you may already know from reading my other posts, i picked up a 03 Sebring Silver S2000 with 60k miles at a Salvage auction. Car has been fixed up and reregistered, but now it obviously has a Salvage Title. I had a great time doing a lot of the repair work myself, and id like to pick up another one and do the same with it. My question is this, for a semi-rare car such as the S, how much below KBB should i ask for this car, considering the following:

When i picked it up from the auction, one of the first things i had my mechanic/friend do was change all the fluids (oil, diff, tranny, brakes, coolant) i picked up all the parts and fluids to make sure we used the right ones. He stated all the old fluids looked brand new, i wish i could find the previous owner so i could get any maintenance records, but that doesnt seem to be happening.

All the damage was fixed using used OEM parts, paint was blended to match.

Interior is basically perfect, apart from a couple scrapes on the plastic behind the passenger seat where the auction company jammed the old license plates (no cuts in the leather). And invisible unless you lean the seat forward for whatever reason.

Top works perfect, no rips, no wear spots

Damage was entirely cosmetic, and i have the photos to prove it













Both my mechanic and body guy are friends, both have car lifts, so any buyer would be able to see the entire underside of the car before purchase.

Other than the title, id probably rank the car as either good or very good condition.

I know hobbies are supposed to cost money, i am not looking to get paid for my time, just trying to get as much as possible so i can fix more of these beautiful cars and get them back where they belong.

Summary for people with better things to do than read my questions

How much below KBB should i ask for an 03 Sebring Silver S with 60k miles and Salvage Title when i have pictures proving it was very light cosmetic damage that has all been repaired using used OEM parts and the car is overall in very good condition?

 

For salvage, more insurance company would only payout 60% of the car value if wrecked. I would purchase mine based on that, but I am very conservative and cheap.... Id say most would be willing to pay upwards of 80%

 

So if KBB is ~17500, i should ask 14k? Seems high...
And then Edmunds comes in at 10700, which seems ridiculously low, or am i over valuing this car?

 

Black or red interior?

 

All black, i think it has the AP2 CF radio door and it has the door panels with the silver trimmed round tweeters, otherwise, stock ap1 black interior.

 

How about $6500, about 60% of that $10,700. Okay, might be a little low. What would that car realistically sell for if it had a clean title and was never damaged? $13k, 14k? 50-60% of that is probably fair.

There are huge red flags around a salvage car. Just about everyone will run away from one. A lot of banks won't even lend money for a salvage vehicle.

You say you have pictures and can "prove" it was only cosmetic damage. That proves nothing. Every salvage vehicle seller makes that claim. There is no guarantee that there isn't other hidden damage to the car. Why was it salvaged? Car's become salvage when they are severely damaged and the repair cost is huge relative to the car's value - over 50%, maybe as high as 80%. Not because some scuffs up the paint on a few panels. If it was crashed, there's likely some hidden unibody or subframe damage. Shock to the suspension and drivetrain could lead to premature failures in a few hundred or thousand miles. Maybe it can be aligned and still run straight, maybe it can't. But it's probably not as strong as it was before. I wouldn't want a car that had been totalled in an accident and someone bolted on some clean body panels and put it up for sale.

If you're not in a hurry to sell, sure you can ask more. You might find the right gullible individual who doesn't get the big picture and buys the car at your word. Note: I'm not calling you out here, I'm just pointing out that a salvage car buyer needs to be a HUGE skeptic to protect themselves. That buyer will usually be someone who can't afford the non-salvage car, so they're reaching a bit and gambling on the salvage car being ok.

 

Ill agree, im probably asking high, but if you dont believe my assessment of the damage please look at the S2ki accident thread near the end of page 32, all the before and after pictures are there. And while i agree there could be hidden damage, the car rolls straight, the engine pulls fine, shifts fine, no noise from the diff. Yes, totalled means high value damage, but new body parts from Honda are very expensive and so is a full repaint of the car. One quote i had was for 3k just to fix the passenger quarter area, not including a new tail light. Each insurance company has different levels a car has to reach to be considered totalled. I own a salvage title civic, on to which i have put 30-40k miles (bought with about 150k) only repair has been a new exhaust when the muffler weld broke.

 

The problem with buying a salvage is knowing the quality of work. Nearly all totals or near totals are NEVER the same. Sometimes no air bags are installed etc.

At best I'd pay half and track it.

 

If your price is anywhere close to the price of non-salvage cars in your area, you're probably not going to have any calls. I suggest advertising the car at a price 30% less than comparable non-salvage cars in your area and be ready to drop to 50% less in order to move the car.

 

Whatever is the fair listed price, ask that.