What should I look for? And what should I pay?

oh wow. I understand where you're coming from, but you guys are pretty far off the mark with how things really work. A salvage title does not reduce a vehicle's value by 40-60%. That's ridiculous. If you were aware of how many vehicles on the road had salvage titles, you'd think differently.

take a look at iaai.com the insurance auction website. Insurance companies will total cars for..broken windshields sometimes.

I used to work at a restoration shop and the owner would buy anything totaled, repair it, and sell it. I know what's up with a salvage title. It reduces value by probably 5-10% in the real world, that's if the buyer even understands what a salvage title means or cares.
The guy at that shop, two weeks ago, bought a 2007 PT Cruiser w/24k miles for $700. It had an extremely minor engine fire. BAM- totaled. Cause of fire: $10 plastic clip slipped off a fuel line and it sprayed fuel on the valve cover. Paid $10 for the clip, sold the car for $9k 3 days later. Salvage title, because of a $10 clip.
ANY fire = totaled, ANY roof damage = totaled. Air bags will usually total a vehicle. Cars are quickly totaled, even for minor collision damage, because repair shops trump up the bill. If Joe walks in and needs a new hood, that's $300, if an insurance company needs a new hood, well, that's $600 for the hood, $200 for shipping, $300 for handling, $400 to install, $200 to inspect, and suddenly, the vehicle is totaled because the price of a new hood exceeded 50% of the value of the vehicle. It isn't any different with health insurance. That's why your insurance company just shelled out $100k for your liver biopsy.

I appreciate you guys looking out for me, but I don't perceive the salvage title as that big of a deal. The truck looks great, drives great, tracks straight. I'm going to use the truck for work, so it'll pay for itself in a couple months in the spring. A salvage title doesn't make it any less of a truck, or any less of a Tacoma.


Check out the "front end damage" on this 2013 Tacoma. The current bidding is at $9800. I wonder why it has a salvage title? 2900 miles. Wouldn't you buy this for $10k? Runs and drives, I can't see any damage. Looks like a brand new truck to me.
https://www.iaai.com/Vehicles/Vehic...&itemID=15885304&RowNumber=14&loadRecent=True



Here's another one. The left side door and bed is a bit scrapped up. Bidding is currently at $125. 17k miles. You're telling me you wouldn't buy this at a $10-15k discount and just live with a scratched door? Probably get a replacement door for $500.
https://www.iaai.com/Vehicles/Vehic...&itemID=15895080&RowNumber=23&loadRecent=True


Both of these vehicles will be back on the road within a couple weeks. With no issues. You won't even be able to tell afterwards. This is the norm rather than the exception.

Oh and just some heads up with carfax. It's cool and all to see that your truck has had its registration renewed 12 times in its life, but carfax is a pretty lacking tool to say the least. What's surprising is how much a carfax doesn't show. My mom's car has been totaled twice. Neither time shows up on the carfax.
Are you at all aware how many vehicles could have had much more than a fender bender and not even have been reported? Those vehicles wouldn't have a salvage title, but then they wouldn't have been inspected by the MD State police for frame damage and safety.

 

You ask us for advice and then bash us when we dont agree with your personal assessment. It sounds a s if you already have your mind made up. Be sure to post pics when its sitting in your driveway

 

I've bought and sold cosmetically salvage titled vehicles plenty of times. They are great for dealers because we can get them super cheap and sell them cheap/ quick and still make a nice profit. As for the 5-10% de-value that's very low, more like 50% on most vehicles over 10 years old. Most people are aware of the term "Salvage" when it comes to auto purchases and are fearful of why? Also when it comes to resell its tougher for a private seller. Just trying to help you not get taken for a ride.

Your correct when you say insurance companies salvage vehicles for minor things sometimes. I only buy salvage vehicles that are salvaged because of cosmetic reasons (no accidents) like hail damage. Your wanting to spend $5500 on a truck that's been in an accident and was salvaged because of this accident.

It is a nice truck but wouldn't risk it. There are more out there.

 

I guess I'm a little curious as to why you ask what to look for and what it's worth when you obviously know WAY more than anyone who tried to answer your questions for you.

You want it? Buy it.

 

I wanted advice on Tacoma-specific things. I'm by no means an expert especially with Toyotas. When I worked at the restoration shop, I wasn't an expert. I just followed orders and organized parts and hardware. I've seen first-hand, what "salvage vehicles" are. I didn't create this thread to discuss what "salvage" really means. I wanted to know what to look for when doing an inspection.
Again, I appreciate the advice. I'm not trying to "bash anyone." I just think the salvage title is being overplayed here. If you want to stick to the "40-60% decrease in value," then I got it for the right price. KBB is $10.8-11.4, and it's $5.8k. I'll take that discount any day of the week. And the work needed is kinda regular maintenance. Alignment, wipers, tires, driveshaft bearing, rear seals, shoes, and brakes. Nothing unique here.

I created this thread to get things like, for example, "It is a bad thing if you put your ear on the driver's fender you can hear a high-pitched tapping." or "if you slam on the brakes, and it goes *thump thump pop* this is a common issue, and will cost you ~$500."

I looked around for what to look for when buying a Tacoma, and I incorporated the accident into that, and everything checked out. I brought a very experienced friend with me and we both looked at it on the lift for 20 minutes, and drove it, put it in all gears, 4hi, 4lo, used the e-locker. Floored it. Hit the brakes hard. No shimmy. No vibrations.
Shit, I couldn't even find anything wrong that they had listed.

To address some other questions: the dealer didn't want to put the money in because they aren't a used car dealership. They had 50 2014 Cadillacs sitting out front. They sell 35,000 new cars every year. 20 locations all over the east coast. They aren't going to waste a tech's time fixing up a trade-in when there is a line of customers waiting to get the oil changed in their Caddys.

I don't want to fight about it. Thanks for trying to watch my back, but I feel good about this one.

 

I would also argue this a bit. If the 50% rule applies at all, I would argue that it applies much more to newer cars than older cars. It's much harder to subtract 50% from an already cheap car.

For example, if a new car has a dented fender, you might knock off $800, but if an older needs a new fender you might only knock off $200.

 

Question asked.
Question answered.
You don't like the answer and get defensive.

Buy the truck. It's not our money. Just offering the advice you asked for.

 

Thats how it usually goes lol.

If it didnt have the salvage or it didnt have 263k on it.....id say almost...but combining those two id walk away as well. To many grey areas.

Personally i think it's pretty high of a price (and would never pay it). You can find better deals out there, just got to put in the time.

 

As you can tell...I didnt read the op well enough...long night I still wouldn't buy it though.

 

I am going to have to disagree with that.My insurance had to drop a grand for my passenger door. and that was just to replace and paint to outer skin on it.

 

This patch on my old honduh was going to cost just below 3k to fix.

 

Who was the last "new guy" who had his heart set on a salvaged vehicle?

found it...http://www.tacomaworld.com/forum/2n...0645-how-much-pay-salvage-title-tacoma-7.html

Whats the fascination with the salvaged life op?

 

I kinda got lost reading all the posts.

The truck is a 2000 with 118k, right? salvage title, right?

I buy and drive salvage titled toyota's. I have no fear of the salvage title part, but I do know that it is very difficult to get financing for a salvage titled vehicle. Most people take out personal loans to buy these vehicles, no biggie.

I think your 5% less in value is a bit conservative. More like 30-45% on toyota's. For some reason these trucks will sell for quite a higher % than other manufacturers. I know, I've been in bidding wars that just had me shaking my head. It usually takes me a year to be able to buy one of these trucks at the value I think they should be sold at.

That truck is 14 years old. The dealership know that there will not be a line of people wanting to buy that old of a truck with a salvage title. The only people who will want that truck is people like us. There will be no former chevy owners that will think this is the truck for them.

I think the truck is worth 5k, but not much more.

I don't know what you(OP) were trying to conviegh with throwing out the story of the previous owner shit, that has nothing to do with you wanting to buy the truck. He might of made tall money on the one car, but I know he doesn't do that on all cars.

Regardless, I happen to be a big fan of the gen 1's. I have 3 and 2 are salvage titled.

It sounds like you have researched the cost of rehabbing this vehicle and I think your estimates are pretty close using your own labor when you can.

As for the frame replacement program, Toyota will not replace the frame on a salvaged titled vehicle. One of mine was called in for the inspection. Failed. After I told them it was a salvaged title, the frame replacement was refused. No biggie, that truck had 3ook on the clock and I just used it as a parts truck for the next.

As was said first, if you really want the truck, spend the 50 bucks and get it alligned. This will make sure the frame is not bent.

118k is nothing for miles. I'm looking forward to hearing what you did.

KO

 

Just looked at the repair paper work for mine. 1500 for door and 1700 for steering components for the passenger side.

 

I think there is a bit of confusion going on here. I will not be financing this vehicle.
I will not have full coverage on it. Liability only.


To clarify, I'm not like desperate for a Tacoma or anything. I'm not one of those people who makes stupid decisions just to get something that they are infatuated with. To be honest, I didn't really want to buy a Tacoma. They are too expensive, and I don't think they fit the value. I am more of a Nissan guy (having a Nissan hardbody). I was really looking for a 1999-2001 Frontier, but it's near impossible to get it with the v6, 5 speed, 4x4, ext cab, with a LSD. I admit, I like the Tacomas a lot, I love the styling, but shelling out $10k for a 10-15 year old compact truck wasn't very appealing for me.

Since the accident, the truck has been to Toyota dealerships several times and had at least 2 official frame inspections. I think the accident might have been fixed at a Toyota dealer, but I'm not 100% sure as the service reports are a bit vague. <--would that change anything? If toyota themselves fixed the truck?

Can we be realistic here for a second? What does frame damage really mean? Especially in the front end area. So...it will be a bit harder, or maybe even impossible, to get my front end aligned perfectly? Maybe my tires will wear out at 50k miles instead of 65k? I can live with that. My past truck has had a bad alignment for 2 years now because I'm a procrastinator and don't feel like getting it aligned, as it's not too bad. I'm sure most cars on the road are years overdue for an alignment and eat up tires. Is a truck with a damaged frame, but good alignment, that much worse? Maybe it will be harder to put new parts on the front end because the bolt holes don't line up perfectly. lol...do they ever? there are ball joints, tie rods, etc on the truck now. Someone had to install those after the accident. Can't be impossible then?
What about you rock crawler guys? Or you hardcore off-roaders? Don't you ever consider you might be putting a lot of stress on your frame? Maybe your frame has fatigued after 200k miles and it's just as bent as the one on that truck could be? Personally, I would much, much rather buy a salvage titled truck over one that's been hardcore off-roaded.
Does nobody agree, or at least see my perspective?

Again, not trying to fight, or ignore advice, but I'm looking for some conversation or debate. I'm looking for something more than "don't buy a salvaged POS". I'm more intelligent than "fuck you guys, you didn't tell me what I wanted to hear"

 

Was it totaled over this?
This is exactly the type of thing I'm talking about. Looks like a "boo-boo" in a parking lot. And that's $3k? I'd slap some nail polish on that bitch and drive it.

 

Nope far from totaled, sister tagged a pole.

Avoided insurance and talked the dealer into taking it as is for trade in on a new one

 

To the original poster: go ahead and buy it, since you've got your mind set.

Seriously though, why buy a salvaged Tacoma for that price? I agree with part of what you wrote. go find a Nissan, or Tacoma, or something else that is not salvaged.

 

If you want a Nissan you can buy a 2004 non salvage title one for the price your gonna pay.

Personally I would never want a Nissan but also wouldn't pay close to blue book for a salvaged titled tacoma.

 

I work on the side for used auto dealership and auction I can tell you accident fixed cars sell better cause they're cheaper. People look around in the internet found the cheapest price then go n check em out. This is tacoma forum most of us want best cond truck for our pride and joy but it's not what most buyers are lookin for first save money then good cond. I personally wouldnt buy accident cars but I can see most buyers do. We don't know what issues your going to have due to the accident we ain't psychic but if it's checked out then probably ok.