Advice on Salvage Vehicle

[Advantage]

Ok I haven't been active in awhile (no problems with the fx!) and this group has some very knowledge able members.

My best friend has a 1997 Porsche Boxster with 100,000 miles. He bought the car with a salvaged and has spent some money getting it repaired. He is in need of some cash and asked if i would take it off his hands for $4500. I love the car, and he has owned porsches for the last 14 years (2 boxsters,911, cayman) He has assured me that the damage was all body and no frame damage. I know the car drives fine and needs paint from where the body was being fixed. I was wondering what advice to people have for wrecked titles? are they bad idea? should I stay away? I know it will probably cost around $1000 for repainting the back (not whole car) so I will be in it for $5500 any advice!!!

 

[Dracula]

usually you should stay away, but if its dirt cheap; what do you go to lose?
some insurance companies dont even insure full coverage on salvage vehicles..

 

[smijus]

Only thing to be aware of is that it'll be tough to sell later. Not bad though.

 

[Advantage]

I have checked prices on the car if I wanted to part it out and can easy make money from it that way if I wanted too, I called my insurance company gave the the VIN and they said with current coverage it will add $230 to my 6 month policy.

 

[porkandbeans]

What are your intentions with it? Fix and sell? Keep it for a short while? Keep if for a long while? Track it?

 

[Advantage]

Fix it, keep it as a weekender then sell when I no longer want it.

 

[porkandbeans]

In that case, I'd say to pass on it. You'd be starting with a $5+k car, doing all the work, and ending with a ~$6k car. Sure, it would be fun for a while, but as a buyer, you have the power to be choosy. If a Boxster is what you want, you might as well find one that is not a salvage and play with that. You'd be playing around with the same rule of +/-$5k-$6k, but actually have the one you chose. This one has an attractive price and is convenient because it is right in front of you, but why hassle it? This ones not a steal and still carries the risk of being a real headache.

 

[Old Blue]

You know what they call people that buy 100,000 mile old wrecked Porsche's?

Victims.

Seriously though, get it if you can work on it yourself, have a dry place to park it, driving it ought to be a Hoot! That's about what I spent on a used Jeep.

Oops, just saw the dates on this thread. Doh!