2007 PreRunner: Is this CarFax a dealbreaker?

Called to check and my insurance won't have any problem covering it, but I think I might have scared the seller away by asking too many questions. She responded very quickly at first but has been AWOL for the rest of the day. How can the CarFax say "1 Owner" even though it's been sold three times (twice at auction)?

My enthusiasm is waning in proportion to her responsiveness, but in case I'm feeling adventurous, does anyone know a good mechanic in Burlington, Vermont? Or for that matter, in Rhode Island?

 

1 owner, because it was only registered to 1 person (not a business/dealer). When sold at auction it technically is owned by a dealer which doesn't count as an owner, they are a seller and don't register the vehicle which is why dealers have special license plates they can use on any vehicle that is not registered. Phew, that's alot for one sentence. I hope it makes sense.

 

He speaks the truth. Its not uncommon for a vehicle to change hands through many dealers. My buddy is a car dealer and buys/sells vehicles to other dealers all the time. They don't have to pay taxes and it's less paperwork to file when they buy/sell to each other.

 

I was thinking the same thing..... I had 68,000 miles on the Jeep I traded in and it was only 3 years old. I thought I had done good by keeping it below 75,000. I am not too sure about the circumstances around this particular truck but it does seem a bit sketchy so I would say that IF you HAVE to investigate to feel you have done your due diligence then have some (like metioned above) check the entire vehicle over before you make any moves towards buying. It pays to have a check done its like title insurance when purchasing property. Small cost now saves what can be a huge cost in the future... JOE>

 

I'd leave this one alone. It's been in 3 accidents and, if I'm reading this correctly, was a fleet vehicle for a business. The last company I worked for, the people beat the hell out of the company trucks. Not saying that happened, but it'd shy me away from it especially when you couple that with the accidents.

 

The way I read the report, it was rear ended once, with minor or moderate damage, then the driver backed into something twice. (Sounds like my wife driving....)
Backing into something usually means low speed, and the ass whupping was only minor or moderate. Even with the tall odometer, $10k is a really good price for the rig, and it doesn't sound like any of the accidents were more than sheetmetal. I second the contingent on inspection sale.

 

I don't know who told you people that an insurance company won't insure a salvage vehicle. That's a lie. I've been around salvage vehicles most of my life. Any insurance company will insure a salvaged vehicle once it's been repaired and passed inspection.
I bought my 2009 Double Cab Long Bed SR5 4x4 from IAAI for $13000. With professional repairs it cost me $17500(relatively light damage). This has 23500 miles on it.
Now let's look at why it's worth buying a salvaged vehicle:
KBB Fair value on my truck is $26500. From my experience I can sell this truck right now for about 20% less of fair value which is about $21200. So if I sold it right now I would make about +-$3000. However I'm not going to do that.
Tacoma's depreciate at about $1500-2000 per year. I'm going to drive mine for 2 years and sell it for approximately what I paid for it($17500) thus losing little to none of what I put into it not counting registration and fuel costs. Then I will repeat this cycle buying something newer and better every time all the while using only the money I put into the original vehicle. Sound like a good deal?
If you bought your truck from the dealer you lose 10-15% of the value of your truck as soon as you drive of the lot. 2 years from when you purchased it you will have lost about 20-35% depending on how much you sell it for.
So you tell me if it's worth it.

 

I wouldn't touch it. 3 accidents in such a short time span? I owned my last truck for 9 years with 1 minor accident. 3 is more than bad luck.

 

Accident record aside, it's the unresponsiveness of the seller (who is supposedly in a hurry to sell) which makes me uneasy about this. She initially responded in a couple hours, but I played dumb and asked about the history of the vehicle early yesterday and she still hasn't responded.

Also, good point about this being a fleet vehicle. I think most people do tend to drive them hard since it's not their ride.

 

I agree with 95% of your post Only part that is POSSIBLY untrue is that ALL insurance companies will cover salvage vehicles (just want to clarify for everyone here)

If you're talking liability, YES, I believe they all will cover it.

But I had Traveller's prior to buying my salvage title Tacoma (which I bought fully repaired, inspected, re-registered, etc). Travellers was willing to insure the truck for liability, but would not touch it for collision or comprehensive, no matter what. That means for me, buying my taco for $11k, if I got in an accident the next day and re-totaled it, all my money is out the window.

However, I switched to State Farm, got full collision and comprehensive, and they actually cover the kbb stated value of the truck, not what I paid for it, so if I total the truck with them, I get paid 22k, and I double my money LOL.

 

Thanks for the correction, this is probably more accurate.
I personally have not seen an insurance company that would not give a person full coverage with full KBB value but then again I have never worked with Travelers.
Here where I live we have State Farm, Farm Bureau, Allstate and some other ones I'm not remembering and they will all give you full coverage.

 

I'd be worried about 2 things. First, as everyone has noted and as you have commented yourself, there are lots of red flags on this. For me, if the seller was upfront that would negate the impact of the concern about the accidents themselves, but it sounds a little shady . . .

Second, it may be a great deal dollar-wise on the sale, but if you're on a tight budget now, you may not be well positioned for a truck that needs a lot of maintenance down the road in the event those accidents add up to trouble for the next buyer. Tacomas are all over. Surely there's one a little older that's also affordable, that won't keep you up nights wondering. I'd pass on this one.

 

i read fleet vehicle, that would be a deal breaker for me right there

 

I could see one, but three accidents? If I were you id be all kinds of concerned about that. Mabye you can use the carfax to talk em down even furthur tho, then it might be a deal good enough to take.

 

Don't understand why everyone's so worried. The way I read the history of the vehicle is....

Looks to me like it was owned by someone who couldn't drive well...probably backing-up. I know that feeling...it's hard getting used to a truck and I've bumped mine twice, not so hard as to deserve repair and not another vehicle but I can understand.

After putting on lots of miles, it was traded...then sold again at auction as part of a 'lot' where you have get this one with some low-mile vehicles that are more desire-able. Maybe because it had too many miles, maybe because of the carfax record, it was rebundled into another 'lot' and sold again real soon. CarMax and CarSense, two huge used car retailers in the northeast, avoid high-mile vehicles: this sounds like a strategy they'd follow to acquire low-mileage inventories with clean accident records.

Listed for sale this past April...and the person that bought it wants to dump it. Question is why so soon; excuse sounds good but still the miles and the accidents justify low-balling the counter-offer. Just make sure repairs to the rear were done well and no more extensive than minor fender benders.

 

I do 30K a year on average. I bought my 05 w/107k on it in February and it now has 124k. Mileage here is not the issue. Some questions:

1. Have you actually seen the truck? Not just pictures, but in person. Do you have a phone number?(If all you have had is e-mail communications off craigslist or ebay run as fas as you can away from this).

2. Have you checked with your insurance company about whether they will insure the vehicle?

3. Is this lady willing to let you have the truck inspected at a reputable mechanic? (By reputable I do not mean cousin Jerry that "knows about cars and stuff - but a local business with a solid reputation) If not, stay away.


Even with a solid checkout, I would still be wary. In the end you get what you pay for.

Hope things work out for you.

 

I heard "the seller', and "she" in the same sentence........................pass.

 

Just say no!!!!

 

Seller is totally MIA. Guess I started asking too many questions. So yeah, this particular Tacoma is out.

But I'm glad I posted here because everyone was super helpful and now I know not to dismiss salvage/rebuilt titles completely -- and that it might be a way to get a great deal provided I get a good seller and can make the sale contingent upon a thorough inspection by my mechanic, body shop, etc.

For the record, I called my insurer (GEICO) and they said coverage would not be a problem.

 

Just wanted to give an update to you guys that are thinking about whether it's worth it or not to buy a salvage vehicle.
As stated by me earlier in September 2010 my truck had cost me around $17500. I sold it in February 2012 for $18000. I put 45K miles on the vehicle in that time(I drive a lot). I lost only fuel and registration costs but like I said you can't really count those since they are not part of the actual vehicle cost.
So I made out on this vehicle just like I had planned.
In March 2012 I purchased a 2005 Corolla LE from the auction with 40K miles on it. This one came with a clean title. Cost me $6400 once completely fixed. It now has 95K miles on it. I plan to sell it in the summer. KBB private party value on this vehicle right now around $7000. I will probably put another 10K miles on it before I sell it. I will try to let you know how I make out on this one.
I also purchased a 2013 Hyundai Elantra in February 2014 with 400 miles(yes, someone wrecked it a week after they bought it brand new) for my wife. This one has a salvage title on it. Once fixed it cost me $10100. I will keep this one for about 2 years and keep on doing the same thing I've been doing for a long time now.
So I just wanted to get some real life examples out there for those of you that are considering doing the same thing.