Thoughts on a Salvage titled Tacoma?

[kai38]

A guy I work with is selling an 04', 4dr,4x4, TRD package Black Tacoma. Less then 16K miles very clean inside, engine is dirty but not bad, my 95 FZJ80's engine looks worse.
Its got every thing I'm looking for except the color black.
They replaced the bed, and driverside rear tire & rim, he is bringing pictures to work for me to see before and after of what was repaired.
Hes asking $13,500
The bank will loan 1/2 of loan value which is 23,500.
I'm tempted to get it and not worry about a salvage title.
Anyone ever insured a salvage titled car? Thoughts on the tittle?
Thanks, Kirk
Sunland Park NM USA!

 

[2ndGenToyotaFan]

May be harder to sell if you want to get rid of it.... But that sounds like a good deal as long as it's all running good......

 

[kai38]

May be harder to sell if you want to get rid of it.... But that sounds like a good deal as long as it's all running good......

He comes back to work Sunday when I get off, he's going to let me take it home for 24hrs while hes here at work. I'll test it out and have it looked over, take it to the shop that does the work on my cruiser and have them check it out for me too.
When I get a car/truck I keep them for a long time so getting rid of it wont happen soon, plus my daughters will be driving soon too.
Thanks for the reply
Kirk

 

[2ndGenToyotaFan]

I forgot to ask, do you know why it has a salvage title?

 

[3_puppies]

check with your insurance comp. just to make sure they will cover it.

 

[grant5127]

I know several people that have salvage vehicles w/ no problems...but thats in TX... are you in New Mexico?? some state laws differ...

 

[AATLAS1X]

Ignore what the bank tells you. This is only thier lending guidelines and the are allways on the retail side. If you are looking to buy it pay 1/2 of wholesale book. You credit union will provide this to you.

Example

Retail is $25k
wholesale is 18k
Pay 9k

Its a guide line, but remember the ins company paid the loan off and he bought it back for pennies and repair it.

9k he is still making money. and he would not if he were to sell it preloss.


Use your bank guidelines as a negotiation tool and leverage.

Shane

 

[cruiser88]

no worries .ive done it alot.just dont expect anything in a return on a resale

 

[kai38]

It was salvaged for a wreck, the parts replaced were, outer skin on driverside bed, same side, rear tire and rim, rear axles,.
I'm driving it today rides and drives good, front end feels different not really weird just different then my 80. The locker engages, no noise from the rear while driving.
In the morning I'll get it on the lift and turn the rear end and check it out. So far it looks like a nice deal on a clean truck
Thanks for the help
Kirk

 

[2ndGenToyotaFan]

Gee it's different than your 80'..... Who'd a thought!!! Make sure there's no frame damage also, that's the biggie. I think the Taco frames are open in the rear, so they may be easier to hurt than a full box frame.

 

[foot0069]

Had a 94 probe that i bought from a buddies wife she totalled it twice never any major damage paid 400.00 for it drove it for 2 years sold it for 1200.00 That has nothing to do with anything other than my insurance added like about 50.00 a year surcharge
So check with your insurance carrier.
Jim