MileHIFcar

Been searching for an F as some of you know, have narrowed down my search to a 2010 MY (maybe an 08-09 if the price is right). Anyhow I found a salvaged titled USB F at Prestman Auto in Salt Lake. I called them up because the price was lower than all the other 2010 online and they told me that they deal in salvaged/rebuilt titled vehicles.

Now the story on the USB F they have for sale. After pressing them for details they said it was bought at an insurance auction and was a theft and recovery vehicle out of Fremont, CA. I asked them about the details and they said that the car had four or more (multiple?) ECU computers taken out of the car? And that there was a little damage to the rear bumper. They said that if a car is stolen and gone for over 30 days most insurance companies will total the vehicle out and that's the reason why it's branded salvaged/rebuilt. They said that they replaced all the ECU's that were stolen and fixed the rear bumper

Here are the pics that I found on Google they said these are the pics from the ins auction: https://www.google.com/search?q=JTHB...r=1.95#imgrc=_

Here is a link to the ad also: http://www.cars.com/vehicledetail/de...7671/overview/

What do you guys think? Should I stay away from this particular one branded salvaged because of the theft and stolen ECU's out of the vehicle? Does this seem plausible from an ins standpoint?

Sean

iTrader: (3)

I'm always suspicious of this sort of thing. It is plausible though. All I notice from the pics is that the inner tail lights are from the ISx50 so they were also replaced...with the wrong lights. Also the exhaust tips appear to be blacked out indicating the previous owner may have had some interest in modding. Either that or they were painted as part of the bumper repair just to get them looking nicer.

edit: also not sun roof which is pretty rare.

lobuxracer

iTrader: (2)

I'd want to get a better price. Resale on salvage title vehicles is terrible. I'd also want to hook up Techstream and check all the ECUs to make sure they are all communicating correctly. You really don't want to have a jacked up car because one or more ECUs are not talking as they should. There is a general health check in Techstream so you can pretty easily do this.

F_Throttle

I wouldn't trust the dealership, that they did everything correctly. Imagine if the kid ripping the ECU, cut the wires instead of unplugging them. Then again, I don't trust a salesman.

Personally, I would stay away from the Salvage brand. No big-name insurer will offer you full-coverage. And without full-coverage, your bank will probably either reject the loan or charge you a ridiculous premium. But I don't think banks will even bother with salvage titles.

Also in the event someone 'else' hits your car and its totaled, they will not be reimbursing you what that dealer is asking for. I believe buy-out analyst will discount the 'current market value of a clean title' by 20-40% *according to KBB*

For 6K, more there are better out there. And you will retain resale value and piece of mind.

lobuxracer

iTrader: (2)

Finance a salvage title vehicle? No way. Has to be paid in full. No responsible/reputable lender will give you money for a salvage titled vehicle.

MileHIFcar

Thanks for the heads up on that I didn't even notice that the taillights were from the ISx50

Maybe your right for a little bit more money I could get a clean titled one

Yea didn't think of the insurance portion of it, because it would be financed.

Thanks guys I think I'll skip on this one and continue my search

VtotheJ

iTrader: (2)

That is priced way too high for a salvaged car. Plus it will be very hard to sell or trade in a few years down the line. Affordable ISF's are rare but not impossible to find. If you open your search and are flexible to travel, I'd recommend looking elsewhere.

WylieKylie

iTrader: (2)

I've been to this dealership more than once, I've never bought anything there, but they aren't a shady fly by night operation. They've been in business a long time and there are probably 25 used car lots within a 3 mile radius of this place. If they were a shady operation, they wouldn't still be in operation. Their business model is to sell salvage title cars, the vast majority of what they sell has a salvage title. They don't rebuild the cars themselves; the majority of the cars they sell are theft recoveries, so in many cases there hasn't been any body work done to the car (although since the tail lights aren't right that might not be the case with this car.)

In my experience financing a salvage title vehicle isn't that hard, I've done it through my credit union. There are plenty of local banks that will loan money for a vehicle from this particular dealer.

As far as a better price, I agree, it should be lower, but I doubt they will budge much. This dealer has been around long enough to know what they can get from a salvage title car, and in the case of the vehicle I seriously looked at they wouldn't move much. They are willing to let a car sit on the lot for longer than most dealers in order to find the right buyer.

If you are still interested it won't hurt to give them a call, ask them what they know about the history of the car. If you get serious there are Lexus and Toyota dealers within a few miles of this place, and when I was looking they had no issue with me taking a car for a PPI.

Sometimes a title history of a salvage title can tell you some good information too, you can find out if it was an accident or a theft that caused the title change. The history after the title change can tell you a-lot as well. I looked at a salvage car that had changed owners 3 times in 5,000 miles since an accident and the computers were full of codes that were the result of poor repairs. I ran from that car. I doubt you will find anything like that on this dealer's lot, but anything can happen!

Richy21

100% false. Banks will finance half of blue book value on rebuilt title cars. As for insurance they will insure it no problem. State Farm for sure will insure it. Full coverage.

F_Throttle

What lender?

A loan underwriter can do whatever he wants to approve the loan. But as a common practice, no one will write a loan for a salvaged vehicle. He'd get canned. It is an financial mistake, and the risk premium would need to be ridiculously high to entertain a lender. Maybe if you have an appreciating collector's car, there are boutique banks who will make an exception.

Although 50% down, would make it an interesting exception, it sounds like they would use a col-debt structure instead of a standard auto loan.

And is your State Farm, a small franchise branch? I don't believe State Farm would spend the time to work out the depr schedule for a salvaged vehicle. At one point of any salvaged vehicle's life, it is worth $0 on the books. Anything higher than that, is a market prem.

idoke1

iTrader: (5)

^^ I do tend to agree with Richy21. Some banks do finance salvage titles. For one, my previous co-worker bought a salvage Camaro SS and he had it financed. I don't recall the bank who financed him or his insurance.

I8ABMR

Banks will absolutely finance salvaged cars . I personally would not chance buying a salvaged car . No way in hell

PiusGS

iTrader: (1)

No sunroof?

JdSwiper

iTrader: (4)

I say skip and get a clean titled car from a dealer, even if you have to pay $5,000 more, it would be worth it!!! Try checking Cargurus.com.. That's where I found mine.. It even tells you how much above or under book value the car is. I got a 2012 with 38,000 miles for $39,999!!!! At a very reputable Lexus dealer.

xaznx

yeah no sunroof? Thats odd, I didn't know that f's didn't come without sunroofs? Is this really an F or an isx50 built into an F?