Review this salvaged ES350
06-29-14, 07:12 PM
#1
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Review this salvaged ES350
Where i live, I am not finding any cars around where i live and will have to find a good deal online. I am exploring the option of buying this car , getting it fixed , and using it personally (not looking for selling it). Can anyone help me figure out what is the max price i should pay for this ? and if this kind of damage too risky to undertake for repair?
http://www.salvagebid.com/489277927-2014-lexus-es350/
Thank you so much in advance for your feedback
http://www.salvagebid.com/489277927-2014-lexus-es350/
Thank you so much in advance for your feedback
06-29-14, 07:16 PM
#2
Lexus Champion
Dont do that man thats really risky, you wont have full coverage, not sure if theres frame damage and the repair looks really expensive. Id pass man just buy a older and cheaper car with a clean title.
06-29-14, 07:47 PM
#3
Lead Lap
I have no experience whatever with salvage vehicles, but, besides the damage that is obviously visible in the photos, my guess is that you are likely to find a good amount of "surprise" damage. If the insurance company has designated the car for salvage, that likely means that they have determined that the cost of putting it back together again would be $30,000 or, perhaps, even quite a bit more. If you consider what it will cost you to buy that vehicle and to have it repaired, I'll bet that you can find a used 2013 ES with low miles and in excellent condition and one that will actually have re-sale value down the road, which is something that this vehicle will never have. I could be wrong, but I would think that the only way that buying a vehicle like that could make financial sense would be for someone who was buying it for parts.
06-29-14, 09:39 PM
#4
There's a simple reason this vehicle is for salvage: it costs more to repair than its current worth.
The insurance company had paid out the vehicle's ACV or replacement cost, and selling it as a salvage vehicle to recoup some of its payout. Under a financial perspective, this vehicle is now only good for its parts. Since that is not your goal, I would stay away from purchasing this vehicle.
The insurance company had paid out the vehicle's ACV or replacement cost, and selling it as a salvage vehicle to recoup some of its payout. Under a financial perspective, this vehicle is now only good for its parts. Since that is not your goal, I would stay away from purchasing this vehicle.
06-29-14, 10:12 PM
#5
If you could find someone local who has bodyshop/paint shop who'd fix it for you cheaper than big shop, it would be a great deal. Of course depending how much you'd buy it for. It definitely looks fixable, Ive seen much worse being fixed.
06-30-14, 02:03 AM
#6
Looking at the pictures, it has sheet-metal damage on three corners, trunk lid, two doors (maybe three), both bumpers, and the monocoque is bent. That's a lot of damage.
The insurance company had an expert spend an hour looking at this car up close. The insurance company "totaled" the car because that expert decided it would be cheaper to buy a new car.
If you have the knowledge and skills, and the time, and the tools, and a building to keep it in during the process, you might be able to repair it. But, if you have to pay other people for those things, it would be cheaper to buy a new car.
No matter what you do to the car physically, the title will always show that it was "salvage". That knocks at about half off of the value, even if you can repair it to perfect condition. '
The insurance company had an expert spend an hour looking at this car up close. The insurance company "totaled" the car because that expert decided it would be cheaper to buy a new car.
If you have the knowledge and skills, and the time, and the tools, and a building to keep it in during the process, you might be able to repair it. But, if you have to pay other people for those things, it would be cheaper to buy a new car.
No matter what you do to the car physically, the title will always show that it was "salvage". That knocks at about half off of the value, even if you can repair it to perfect condition. '
06-30-14, 07:13 AM
#7
Lexus Champion
I agree with others who say walk away from this one. By the time you buy it and make repairs (who knows what they'll end up running) you'll have a lot of money tied up in a car that was salvaged.
You could buy a brand new car (not an ES) with zero miles and full factory warranty for that kind of money. Or, has been suggested, look for a CPO ES, there are a lot of them out there.
You could buy a brand new car (not an ES) with zero miles and full factory warranty for that kind of money. Or, has been suggested, look for a CPO ES, there are a lot of them out there.
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06-30-14, 11:40 AM
#9
Lead Lap
As I look again at the pictures of the vehicle, I'm guessing that the body work alone that would be needed on that ES is going to run at least $25,000, and that is a conservative estimate. At a minimum, it is going to need new front and rear bumpers, new trunk sheet metal, 2 new front fenders, a minimum of new skins for at least 2 or 3 doors (and possibly 2 new complete doors), and assorted trim parts. It is also going to need body work on the hood and probably at least one new wheel and tire. Essentially, all but 2 or 3 panels on the vehicle are going to need to be replaced or repaired. Then, what would amount to a complete paint job on the vehicle would need to be done. And, once that $25,000+ worth of body work is completed, I can only imagine the mechanical repairs that would be needed. Note that, now, the car doesn't even start, and there is likely damage to the steering and suspension systems and who knows what else. Then, with all of the body panels that are going to be replaced, lots of interior panels are going to need to be removed to route wiring, replace switches, etc. Even if a shop can put all of the parts together and get the car to run, with the likely frame damage, it could well end up being one of those cars that looks like it is running somewhat sideways down the highway.
If the insurance company is figuring that the salvage value of the vehicle is, say, $15,000 and if the sticker on the vehicle is about $47,000, that means that, when they decided to "total" the car, they were figuring that the cost to repair the vehicle had to be at lest $32,000 and possibly much more than that because, if the salvage value plus the repair cost added up to less than the replacement cost of the car, the insurance company would have decided to repair the vehicle.
(I find it curious that, in the auction listing, the "buy it now" price has gone up by several thousand dollars from where it was a few hours ago.)
Even if someone who bought the car could save on labor and even if he/she could successfully complete the repairs, thoughts of flipping the car are still likely to be financially misguided because, with a salvage title, the car is going to have minimal re-sale value.
The value of the vehicle is not because of any repair potential that it has. Instead, it is in the value of its parts. It is a great candidate for sale to a salvage yard, but it is not the kind of vehicle that even a do-it-yourself car guy would likely think made sense to try to repair.
If the insurance company is figuring that the salvage value of the vehicle is, say, $15,000 and if the sticker on the vehicle is about $47,000, that means that, when they decided to "total" the car, they were figuring that the cost to repair the vehicle had to be at lest $32,000 and possibly much more than that because, if the salvage value plus the repair cost added up to less than the replacement cost of the car, the insurance company would have decided to repair the vehicle.
(I find it curious that, in the auction listing, the "buy it now" price has gone up by several thousand dollars from where it was a few hours ago.)
Even if someone who bought the car could save on labor and even if he/she could successfully complete the repairs, thoughts of flipping the car are still likely to be financially misguided because, with a salvage title, the car is going to have minimal re-sale value.
The value of the vehicle is not because of any repair potential that it has. Instead, it is in the value of its parts. It is a great candidate for sale to a salvage yard, but it is not the kind of vehicle that even a do-it-yourself car guy would likely think made sense to try to repair.
Last edited by lesz; 06-30-14 at 11:55 AM.
06-30-14, 01:17 PM
#10
lesz, here is an explanation of my previous comment since you don't seem to understand it...
"The parts alone on this car could fetch 10-15k easily imo.."
Translation: The car is probably worth somewhere between 10-15k since the OP asked how much he should pay for it if he decides to buy it.
"Looks like a really good car to flip if you have your own shop... But you wouldn't be asking this if you did, haha..."
Translation: Stay away from it.
As far as flipping part goes, it doesn't look like it has a frame damage. The biggest dent in the rear is way above the chassis. From what i can tell from these pictures, its all mostly body work which is just replacing panels, putties and paint job which is mostly labor costs. If you have your own shop and can cut labor costs, it can definitely be a good car to flip and yes there is a market out there for cars with salvage titles. And yes the value is lower than cars without a salvage title but you'll be surprised how much a car like the new model es350 can go for even with salvage title when its fixed well. My brother in law does this for a living.
"The parts alone on this car could fetch 10-15k easily imo.."
Translation: The car is probably worth somewhere between 10-15k since the OP asked how much he should pay for it if he decides to buy it.
"Looks like a really good car to flip if you have your own shop... But you wouldn't be asking this if you did, haha..."
Translation: Stay away from it.
As far as flipping part goes, it doesn't look like it has a frame damage. The biggest dent in the rear is way above the chassis. From what i can tell from these pictures, its all mostly body work which is just replacing panels, putties and paint job which is mostly labor costs. If you have your own shop and can cut labor costs, it can definitely be a good car to flip and yes there is a market out there for cars with salvage titles. And yes the value is lower than cars without a salvage title but you'll be surprised how much a car like the new model es350 can go for even with salvage title when its fixed well. My brother in law does this for a living.
06-30-14, 01:36 PM
#11
Lead Lap
lesz, here is an explanation of my previous comment since you don't seem to understand it...
"The parts alone on this car could fetch 10-15k easily imo.."
Translation: The car is probably worth somewhere between 10-15k since the OP asked how much he should pay for it if he decides to buy it.
"Looks like a really good car to flip if you have your own shop... But you wouldn't be asking this if you did, haha..."
Translation: Stay away from it.
As far as flipping part goes, it doesn't look like it has a frame damage. The biggest dent in the rear is way above the chassis. From what i can tell from these pictures, its all mostly body work which is just replacing panels, putties and paint job which is mostly labor costs. If you have your own shop and can cut labor costs, it can definitely be a good car to flip and yes there is a market out there for cars with salvage titles. And yes the value is lower than cars without a salvage title but you'll be surprised how much a car like the new model es350 can go for even with salvage title when its fixed well. My brother in law does this for a living.
"The parts alone on this car could fetch 10-15k easily imo.."
Translation: The car is probably worth somewhere between 10-15k since the OP asked how much he should pay for it if he decides to buy it.
"Looks like a really good car to flip if you have your own shop... But you wouldn't be asking this if you did, haha..."
Translation: Stay away from it.
As far as flipping part goes, it doesn't look like it has a frame damage. The biggest dent in the rear is way above the chassis. From what i can tell from these pictures, its all mostly body work which is just replacing panels, putties and paint job which is mostly labor costs. If you have your own shop and can cut labor costs, it can definitely be a good car to flip and yes there is a market out there for cars with salvage titles. And yes the value is lower than cars without a salvage title but you'll be surprised how much a car like the new model es350 can go for even with salvage title when its fixed well. My brother in law does this for a living.
Further, I don't appreciate the condescending, aggressive, and disrespectful tone of your reply. This is the second time that you have replied to one of my posts with that kind of tone. The first time, I chose to ignore it even though, like with this post, I think that what you were saying was misleading and inaccurate. This time, I chose to review a good number of your other posts, and I see that you have, on numerous occasions, used a similar tone with others who have, with good reasoning and/or facts, disagreed with what you have said.
I learned a long time ago that there is little to be gained by trying to engage in a mature discussion with someone who has a need to take an aggressive tone and who resorts to personal attacks on those who might have a reasonable and different point of view regarding the subject under discussion. Therefore, I'll make an effort in the future to avoid trying to engage in any sort of discussion with you.
06-30-14, 02:06 PM
#12
I assure you that I am more than capable of understanding everything that you have said, but I strongly disagree with what you have said.
Further, I don't appreciate the condescending, aggressive, and disrespectful tone of your reply. This is the second time that you have replied to one of my posts with that kind of tone. The first time, I chose to ignore it even though, like with this post, I think that what you were saying was misleading and inaccurate. This time, I chose to review a good number of your other posts, and I see that you have, on numerous occasions, used a similar tone with others who have, with good reasoning and/or facts, disagreed with what you have said.
I learned a long time ago that there is little to be gained by trying to engage in a mature discussion with someone who has a need to take an aggressive tone and who resorts to personal attacks on those who might have a reasonable and different point of view regarding the subject under discussion. Therefore, I'll make an effort in the future to avoid trying to engage in any sort of discussion with you.
Further, I don't appreciate the condescending, aggressive, and disrespectful tone of your reply. This is the second time that you have replied to one of my posts with that kind of tone. The first time, I chose to ignore it even though, like with this post, I think that what you were saying was misleading and inaccurate. This time, I chose to review a good number of your other posts, and I see that you have, on numerous occasions, used a similar tone with others who have, with good reasoning and/or facts, disagreed with what you have said.
I learned a long time ago that there is little to be gained by trying to engage in a mature discussion with someone who has a need to take an aggressive tone and who resorts to personal attacks on those who might have a reasonable and different point of view regarding the subject under discussion. Therefore, I'll make an effort in the future to avoid trying to engage in any sort of discussion with you.
Your posts are misleading with bad info and speculations without any bases anyway.
I first noticed it in the post where you wrote a long jibberish comment about people complaining about the vibrating passenger seats and how you THINK the vibrating passengers seats is because of this "internet thing" where one person posts something and everyone else follows and to say that:
"it is the kind of issue that leaves the people in the service department shaking their heads.",
How dare you to deny what others are experiencing and say something like that?
I had to shut you up by posting you the videos. Then i noticed the posts you posted about attacking another person here recently with wrong CPO warranty info. Then i see you here now with the math you're doing with estimates on cost repairs at $25,000 without even actually seeing the car or know how many hours are involved in repairing it.
Bottom line is, everything that comes out of you is jibberish based on your clueless speculations. You act like Mr.know-it-all but in reality its the opposite and you're just a dark cloud looming over this forum.
PLEASE do not reply to my posts. You'll be doing me a huge favor.
06-30-14, 03:39 PM
#13
Forum Administrator
iTrader: (2)
Guys, let's knock off the personal attacks immediately. If you can't do that I'll ask you to exit the thread.
If another member's posts bother you, add them to your ignore list.
https://www.clublexus.com/forums/pro...?do=ignorelist
If another member's posts bother you, add them to your ignore list.
https://www.clublexus.com/forums/pro...?do=ignorelist
