be careful with this car posted on Asheville NC CL everyone, I was so tempted to buy it, but luckily I ran a carfax.
Guy is asking $3900 OBO, that's with the assumption that it has a clean title. 124k miles.
https://asheville.craigslist.org/cto/d/1998-lexus-ls400/6384904393.html?lang=en&cc=gb

It was advertised as clean title, but turns out it was previously rebuilt salvage.

Looks like it was transferred to a state with more lenient title laws (TX) and the rebuilt status was wiped away. Very sketchy if you ask me.


Low miles caught my eye, and I love the color and it actually looks pretty clean, but couldn't bring myself to offer more than $2500 for it. Seller got offended but claims he sells rebuilt cars for a living, so he may be behind some of the sketchiness. I guess he's banking on someone not running a carfax.

Anyone else have an opinion on what it is worth?

 

Good find and for checking the car history! That sucks to have "dealers" or other side people doing this type of business by not disclosing such details.

 

hmm never heard of title washing, nice job doing your homework!

 

Good catch. I know salvage or rebuilt titles usually should discount the price some, whether it makes sense or not. So a smart buyer will hopefully have and use this info to get a discount.

But realistically, it was rebuilt 15 years ago. I expect any problems would have made themselves apparent by now, if there were any.

 

Problem with salvage titles is on an older car a dented fender will cause that to happen. Really stupid stuff. A rebuilt title should only apply to a car that had sections cut out and welded in like a quarter panel or something. And on a newer high dollar car even that will NOT cause a salvage or rebuilt title. Its only when the repair would cost more than a price guide says the car is worth when it is done. And pure non sense.