Buying a totaled vehile

[maxamillion125]

I have a chance to buy a friends 2004 Chevy Tahoe LT (5.3L, AWD, OnStar, towing package, leather) 133,000 miles that the Insurance company deemed totaled. He ran off the road and scraped the right side against a fence. He's buying it back from the Insurance company for 4k and said he would sell it to me for that much. NADA value is around 11k and thats what the Ins is giving him, minus the buy back 4k. I figure I can find used front/rear doors and the back quarter panel pretty easy. Do you guys think its a good deal or should I just pass?

Other then the damage to the passenger side doors and quarter panel the rest of the vehicle is in perfect condition. He doesn't have any kids and kept it super clean and well maintained. I called the dealership he took it to for maintenance and every 3,000 miles the oil was changed, the inside is immaculate.

 

[deerseeker001]

I would buy it

 

[jaotguy]

as long as it hasn't been "branded" by the insurance company , possibly a good deal ....

if it has been branded , the vehicle is only worth its part out value ... once branded no one else will want it , no dealer will touch it as a trade in ...

 

[SPIKER]

looks OK, but if you look around a similar year-mileage truck can be found for the 4K plus a bit that would cover the parts but maybe not the labor to fix it.

NOW if you plan to knock out some of the dents and fix tail light & drive then that is OK deal.


Mark

 

[sseelhoff]

I have a chance to buy a friends 2004 Chevy Tahoe LT (5.3L, AWD, OnStar, towing package, leather) 133,000 miles that the Insurance company deemed totaled. He ran off the road and scraped the right side against a fence. He's buying it back from the Insurance company for 4k and said he would sell it to me for that much. NADA value is around 11k and thats what the Ins is giving him, minus the buy back 4k. I figure I can find used front/rear doors and the back quarter panel pretty easy. Do you guys think its a good deal or should I just pass?

Other then the damage to the passenger side doors and quarter panel the rest of the vehicle is in perfect condition. He doesn't have any kids and kept it super clean and well maintained. I called the dealership he took it to for maintenance and every 3,000 miles the oil was changed, the inside is immaculate.

Not sure what the law is in Montana, but in many states, if a vehicle is declared a total loss, the only title you can get is a "salvage title." If you are going to use the vehicle, this is meaningless. If you are going to sell the vehicle, it greatly diminishes the value.

Even without the salvage title, the fact that it has been salvaged will be reported to most insurance indexing bureaus (which could affect future collision claims) and carfax type reporting services.

 

[dave1949]

OnStar may not support that year of vehicle--if it matters. I know they dropped support for a 2003 Buick a couple years ago. Something about compatibility and probably not enough revenue from that age class of vehicle to continue support.

 

[s219]

I assume it can be registered OK in your state? Here in VA, my mother in law bought back a totaled vehicle (tree fell on it, but cosmetic damage only) from her insurance company, and drove it for a couple months until the state DMV revoked the registration. She got a refund from the insurance company, thankfully, but then had to go buy another car. For whatever reason, the state did not want to allow the vehicle back on the road. Not sure if that applies to all totaled vehicles in VA, or that was a special case.

 

[zzvyb6]

Forget the OnStar unless your insurance company will give you a big discount for it to be there. I would not fix it other than the tail light.

Drive it as a beater as long as the doors open and shut. I put Blizzak snow tires on mine and its a tank in mud, rain, ice and snow. Great trailer puller, too.

 

[maxamillion125]

Guys I'm not really concerned about the resale value or Salvage title. I plan on keeping the car not trying to flip it. I know the car's history and its mechanically sound and was treated very well. The doors open and shut fine. I need the 3rd row seating for our family of 5 and also get something to pull my Ford 1710 tractor with I might look around for a rear door to throw on there and paint because I can do that myself but the quarter panel is gonna require A LOT more work and welding so I'll probably leave it alone.

 

[KTurner]

Wouldn't the insurance company have gotten a quote to see how much the repair would have cost? Look at the quote, make sure there's not something like a bent frame listed on it.

Does it leak? as in, let rain in around the newly bent up doors.

I'm in VA and hadn't previously heard about DMV revoking registration due to car being totaled. I'd verify that in your state, as it'd be a show stopper. At that point, it's basically scrap/parts value.

Keith