I found a 91' NSX with 39k miles in excellent condition, but it has a salvage title. The owner claims it is a theft recovery and has never been wrecked. How should the salvage title affect the value of the car? Should I even consider buying the car?
salvage title
- Thread starter tommyw
- Start date
I would not buy a salvage title NSX. Although the owner SAYS it has no crash history, you still can not be sure. Also if you are having doubts about the purchase and asking questions, the person who will buy it from you someday will have doubts too. I'm sure you will not save enough money in the long run to make it worth the short term savings.
Run away from the car. You just don't want a salvaged precision instrument like an NSX. There's too much that could go wrong, and when it does, it'll be expensive. Keep looking, you'll find a good one.
-Bob ('94 #496)
-Bob ('94 #496)
Wait a minute, slow down guys! If it is a theft recovery there are receipts somewhere to document what was done, right? At the very least there is a police report of the theft and an insurance claim and appraisal. If there is no documentation I'd be very leery of any claims. If there are no signs of physical damage being repaired and that is attested to by an Acura dealer inspection and the claims are documented then there is no reason to run away from the car.
Of course, only the prospective purchaser can decide if the price is right for the deal in front of them.
FWIW, there is a '92 for sale in Raleigh with 33K miles. The price has come down from around $39K to under $35K 'cause it has been for sale for a long time. I have no knowledge of the car beyond what is in the ad so perhaps there is something that the ad is not revealing. The car has been listed about once a month since February.
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The NSX Model List Page
Of course, only the prospective purchaser can decide if the price is right for the deal in front of them.
FWIW, there is a '92 for sale in Raleigh with 33K miles. The price has come down from around $39K to under $35K 'cause it has been for sale for a long time. I have no knowledge of the car beyond what is in the ad so perhaps there is something that the ad is not revealing. The car has been listed about once a month since February.
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The NSX Model List Page
Salvage titles regardless of the reason are bad bad bad. The NSX is NOT inexpensive to maintain when things go wrong. Saving that extra couple thousand (for the salvage title)just isnt worth taking the risk that something is terribly wrong with the car.
Spend the extra few bucks and have peace of mind.
Spend the extra few bucks and have peace of mind.
I remember a COPS episode where they were chasing a car thief in a NSX. The thief eventually rolled it down an embankment. This would be a recovered theft. I have a great deal of knowledge as I have dealt with salvage cars a lot in my lifetime. There are plenty of cars and trucks that I would buy no problem with salvage history. As for any high end sports cars or luxury cars, I would not think once about buying them. The fact is a car has to have a certain amount of damage(varies from state to state)to be considered salvage. With a theft recovery SOMETIMES if they have paid the insured off and then recover the car, they then run the car through the insurance companies books via an auction. This takes quite a long time and ANYTHING can happen to the car over that period of time. The fact is that if a car like the NSX is any good, more than likely someone at the auction house will buy it before the sale. On the other hand if it makes it through the sale a body shop will buy it and reassemble it. Seeing as how it made it to the auction in the first place because it was totaled. Totaled meaning it will cost more than 2/3's its full value to repair. The car will more than likely be cobbed back together. It will look real good but it will not be a NSX as we all know it. A good example of this is a 93 MR2 twin turbo I bought. It had been rolled over. I paid like 1500 for it. It needed a new roof. But instead I jacked up the mashed roof, bought a used windshield, t-tops and one wheel and suspension for the rear. I had a total of 3k in the car. Drove it for a few months and sold it. The T-tops never leaked by the way. This car had a theft recovery title. Even with my extensive knowledge in wrecked repairables, I did not buy a wrecked NSX. The thought never crossed my mind because of what I know. Instead I searched for one and a half years to find a perfect one. I would suggest to anyone to do the same. I will also answer any e-mails on this subject for anyone interested. There are many things to look for when making a purchase of a car to tell if it has been wrecked, branded title or not. As far as mechanics of the car I can not be of that much help.
Ever occur to you guys with the hard and fast opinions (that you state as fact) that there are different circumstances in which this car could be a theft recovery? One that comes to mind is if it was stolen "to order" meaning someone specifically needed an NSX for parts. Far cry from being rolled into a ditch during an episode of bad boys! If the car was stolen, had the wheels, decklid, interior, etc. taken then there is no reason that it can't be put back to like new by a qualified shop. No reason that the maintenance on this car would be an different than on any other NSX.
Not everyone looking for an NSX can spend "one and a half years looking for a perfect one" or afford it when they find it! Some people will consider themselves fortunate to get into an NSX at all and might be willing to take a car that you purists can turn your nose up at.
All things being equal I'd go for the clean title every time so I'm really just looking to present another point of view here.
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The NSX Model List Page
Not everyone looking for an NSX can spend "one and a half years looking for a perfect one" or afford it when they find it! Some people will consider themselves fortunate to get into an NSX at all and might be willing to take a car that you purists can turn your nose up at.
All things being equal I'd go for the clean title every time so I'm really just looking to present another point of view here.
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The NSX Model List Page
I can't imagine that a car with a total population under 8,000 would be stolen "to order". Finding one would be like looking for a needle in a haystack.
I under no cicumstances want to start a argument here. BUT when someone purchases a salvage, theft or flood at a auction or salvage yard to rebuild they DO NOT get a title. What they will get is salvage papers. After they repair the car they will then have to take it to a DMV inspection station to get a title. The inspector pulls it in a garage and check for the very thing you are stating in your post. A person CAN NOT reassemble a wrecked car with stolen parts. they WILL get caught. Every body panel is stamped with a vin# on it. If there is one part on that car with a vin# that doesent match the receipts they will NEVER see the car again. I'm not saying that cars are not stolen for parts. What I am saying is VERY rarely are they stolen to order. Thats something out of the movies. The current system set in place is very good at making sure that is not the case.
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- 3 February 2000
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A salvage vehicle can be a good purchase for some people IF they know what they are getting into. An NSX is just a car. If salvage vehicles weren't worth anything, there wouldn't be any market.
And who is to say that just because a car doesn't have a salvage title it's automatically in any better condition? For example, there is currently a modified NSX for sale. The ad, posted several places, details all the mods but omits the fact that the car was in a minor front-end accident. Hopefully he will disclose that to anyone who inquires about the car, but I've known others who do not. An NSX owner who attended NSXPO '99 was buying damaged-but-not-salvage NSXs, rebuilding them and selling them for full retail without ever disclosing anything.
Anything mechanical or structural can be inspected and evaluated by a knowledgeable mechanic. Period. If you have someone who knows what they are doing and knows NSXs well go over the car in detail you really do not need to sweat it. The key words in that sentence are "someone who knows what they are doing." There are maybe 5 people in the country I would feel completely comfortable with doing such an inspection.
You also need to consider the other implications of owning a salvage vehicle. For example, you may have trouble financing or insuring it. You will also have trouble getting much money out of it if you sell it, but hopefully that is offset by the fact that, by the same token, you should be able to buy it for a lot less than a non-salvage car.
And who is to say that just because a car doesn't have a salvage title it's automatically in any better condition? For example, there is currently a modified NSX for sale. The ad, posted several places, details all the mods but omits the fact that the car was in a minor front-end accident. Hopefully he will disclose that to anyone who inquires about the car, but I've known others who do not. An NSX owner who attended NSXPO '99 was buying damaged-but-not-salvage NSXs, rebuilding them and selling them for full retail without ever disclosing anything.
Anything mechanical or structural can be inspected and evaluated by a knowledgeable mechanic. Period. If you have someone who knows what they are doing and knows NSXs well go over the car in detail you really do not need to sweat it. The key words in that sentence are "someone who knows what they are doing." There are maybe 5 people in the country I would feel completely comfortable with doing such an inspection.
You also need to consider the other implications of owning a salvage vehicle. For example, you may have trouble financing or insuring it. You will also have trouble getting much money out of it if you sell it, but hopefully that is offset by the fact that, by the same token, you should be able to buy it for a lot less than a non-salvage car.
You will also have trouble getting much money out of it if you sell it, but hopefully that is offset by the fact that, by the same token, you should be able to buy it for a lot less than a non-salvage car.
The key thing here are the words "a lot less". In the example above, it sounds like the price of the car is maybe $4-6K or so less because of the title, and that assumes that the car is in very good condition (BIG assumption that is not necessarily true). A car with a bad title should be discounted by a lot more than a few thousand dollars like this one. It's worth spending the extra $4-6K on a car with a good title (and that car will ALWAYS be worth a lot more than one with a bad title).
The key thing here are the words "a lot less". In the example above, it sounds like the price of the car is maybe $4-6K or so less because of the title, and that assumes that the car is in very good condition (BIG assumption that is not necessarily true). A car with a bad title should be discounted by a lot more than a few thousand dollars like this one. It's worth spending the extra $4-6K on a car with a good title (and that car will ALWAYS be worth a lot more than one with a bad title).
I would concider it IF and ONLY If the price is right And you have it inspected at your local Acura dealer who has knowelge of the NSX. Once they inspect it and tell you there has NEVER been any body damage to the car I would "Think" of it if the Price is right.. Yet in my opnion and it seems like everyone agrees Salvaged cars are touchy..
Now for a '91 with 3xK miles the price is about $35~$40K with a clean title.. you should offer him with a clean inspection $25~$28K due to the Title. Keep in mind also your resell value of this car is Not that great. I would pass on it and go and find something with say 40~50K miles for a '91~'92 for $33~$35K and that should make you feel more confident on your purchase.
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'92 Sebring Silver NSX #181
That's assuming that the person buying the car can afford the extra $4-6K. The price of early, high mileage, high wear and tear, and especially salvage titled NSXs are now in the range where people can consider owning one who couldn't possibly consider it before. These are people for whom that "extra $4-6K" just makes the car unattainable. For someone who really, really wants to get into an NSX the only chance might be a car that many of you would not consider.
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The NSX Model List Page
I'll put it another way. For the same amount of money, you can get (1) a '91 NSX in good condition with a clean title but more miles (say in the 80-110K mile range), or (2) a '91 NSX in good condition with 50-75K miles and an automatic transmission. Either one is a much better deal than this car with a problem title.
Personally I agree but, hey, I'm not the one looking at a car with a salvage title!
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The NSX Model List Page
