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Old 10-04-2012, 12:44 PM   #25
cak323i
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Join Date: Nov 2006
Location: RI
Posts: 3,261
My Ride: ///M3 & 330i ZHP
Quote:
Originally Posted by bwallace530 View Post
... Don't have a ton of info on the car but I can get more.

Guy wants to sell quick so I was offering something pretty low but a recon title scares me. With no other previous owner info on the car?
You got to ask yourself....why is this guy going for the quick sale to get rid of this ///M? What hidden problems may be there???

Quote:
Originally Posted by bwallace530 View Post
So if I bought it just for a flip I could get an easy 10k out of the car the way it sits?
Very doubtful.... it depends on the overall condition of the car and if you can find a suitable buyer for it at that price...

Quote:
Originally Posted by turbo_f22_pilot View Post
Check your state's regulations on reselling vehicles with recon titles. Also remember, "if it's too good to be true, it usually isn't." The car might have other issues.

If you can get it for a great price and flip it, good. If you're mechanically inclined and keep it good. If you can't perform general maintenance, keep walking . . .
food for thought

Quote:
Originally Posted by DSilk56 View Post
While I wouldn't touch a salvage titled car with a 10 foot pole, if you are going to buy one there are several things you need to do:

1. Have an expert look at the car thoroughly so that he can tell you how extensive (and what type) the damage is or was, and how well what has been repaired was repaired.

2. Be certain that the car isn't a flood salvage, as you will forever be chasing down electrical gremlins and rust.

3. Understand that insurance may be difficult to secure (at least full coverage), and that financing will be impossible. This may not mean much now, especially if you can pay cash, but it will affect you when the time comes to sell.

4. Understand that the decrease in value will be forever. Even proper repair will never restore the value of the car, especially given the fact that there are a slew of clean-titled M3's on the market at any given time.
^
+1
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Last edited by cak323i; 10-04-2012 at 12:45 PM.
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