algershick

iTrader: (1)

I know this really limited to the LSX/LTX community, but this forum is where I spend the majority of my time at TGO so maybe someone has a bit of experience with this.

I bought my Berlinetta from a small local dealer, and I talk to the guy on a regular basis. He told me that he gets the majority of the vehicles that he sells from insurance/salvage auctions; he makes the minor required repairs and then sells the car for significantly more.

He's told me a number of times that any time I'd like to go with him, he'll use his dealer license and allow me to purchase a car. I'm tempted to get a totaled LS1 4th Gen and strip the car of everything that I can still use, and sell what's left over.

I've googled the subject a bit, but I'm just trying to get a ballpark figure on what you could expect to pay for a totaled/salvaged vehicle. Is 15% of the Actual Cash Value accurate?

There are a number of things that I still need, and as everybody knows converting to a Gen III/IV motor nickel and dimes you to death! This would allow me to snag seats, brakes, the rest of the accessories that I need, a transmission, another complete motor, etc. for the same if not less than a used T56 would cost me!

ZONES89RS

iTrader: (2)

I see them go from 2000 to 3500, sometimes less, it is worth it BIG time to get one with EVERYTHING you need for the swap man.

Pocket

iTrader: (24)

Id beware of buying from that dealer if he sells only salvage cars

Regardless, spend what you think its worth. You may luck out and find a low mile mod car

algershick

iTrader: (1)

I hear what you're saying, Pocket. I wouldn't buy a salvage titled car as a driver, but he might be able to get me a good deal on a parts car. Just wondering how the auctions work and what percentage you'd typically pay for a insurance totaled vehicle!

five7kid

iTrader: (14)

Typically only licensed dealers are allowed to participate. You'd have to have an outside agreement with him about vehicle, price, etc. Basically, you'd have to trust him. He'd be buying the car at the auction, you'd be buying it from him.

What you pay depends upon the extent of the damage and the condition of the vehicle's salvageable parts. People that go to those auctions are looking for what they can get back out of them (at a handsome profit, of course) and know what they want to bid on the car before it comes up to the auctioneer. You might be able to keep bidding up, because you aren't looking for profit, you're looking for a usable drivetrain and support pieces. BUT, it is very easy to get carried away at these events and pay more than you should.

Atilla the Fun

LS1 is $2000, T56 is $1200, computer is $100, harness is $200, that's $3500 right there.

ghettocruiser

iTrader: (4)

Just to throw my deal into the fire...

I paid 6400 for my totalled 99 Z28 convertable.

The motor was already built, and had less than 15000 miles on it. If that. Read my sig for what was on/in the motor. The trans was built and it had a Spec III clutch. Had a Strange 12-bolt with 3.73s and a detroit.

I used the motor, trans, rear, driveshaft, engine harness, front body harness, coolant/washer bottles, complete a/c system, a bunch of other wiring and LOTS of the hardware since it was practically new compared to what I was pulling off.

Off the camaro, I sold the front clip to someone doing a conversion on their 93-97, sold the vert top, sold the rear bumper cover and lights, sold the headers and catback, sold the roll bar, sold the dash, sold the seats, front suspention and steering...and a whole bunch of other crap. I probably made 3000-3500 back on the donor car parts. Maybe a little less...but still.

So I basically got a fully built drivetrain for around 3000 bucks. ANd thats not counting all the countless hardware and wires that I stole. I really wouldnt do the swap again without a donor car. It was a HUGE help.

Just watch what youre buying. I would stay away from things that you cant start and maybe drive. I was able to drive mine even though there was a telephone pole crease almost into the drivers seat. Try to find one with a good front clip, because you can sell that easy. Interior goes easy too if its clean. There are good deals to be had..


J.

Aaron91RS

iTrader: (2)

what insurance auction? there are local auctions and big nationwide auction services.
I can tell you from thinking of buying a wrecked ls1 from the nationwide ones the cheapest I ever saw one go for was $2500, but then there are $500+ worth of fees on top of that.
That was the exception. Normally they went more for $3500-$4000 range plus $500-800 in fees.
I was surprised by the absurd prices people were paying considering you can get an unwrecked ls1 car for $3900-$6000.
I finally said screw it gave up on the auction sites and just bought locally off the boards and CL.
Bought a:
1999 SS M6 $2500
1999 WS6 $2100
2000 z28 $1500
1998 TA $1000

algershick

iTrader: (1)

Heeding your guys' advice, I asked some more questions about the auctions that he goes to. The insurance auction is local, in Temple, Texas, and they are held every other Monday. He's confident that we'd be able to walk away with a total loss vehicle for well less than $2,000. Other than the normal auction/tax/title/license fees, he said a salvage title costs $65 more.

I don't think it could hurt to at least go with him to the auction and see first hand what it's all about.

I appreciate the information from everyone!

JeremyNYR

iTrader: (2)

let us know how it goes for you, sounds like a fun event to attend

Pocket

iTrader: (24)

If you plant on parting it, dont bother getting a title

Grab it, strip it, crush it, profit

ericjon262

the crushers here in Pensacola won't take it unless you have a title. IIRC

screeminchicken

iTrader: (2)

ya get a slavage title.....many places are requiring some kind of title to even crush a shell.

I had to crush about half a shell. All the dorrs, hood, trunk, fenders firewall and one qtr panel was gone.

I had to cut it up even more to get it on a trailer. didnt look like a car shell and they still needed tittle. I had to sign ober the title.

I got 20 bucks. brought beer for my friends who helped me

Pocket

iTrader: (24)

You've got wierd salvage yards

Our local only requires proof of ownership if its 10 y/o or newer. A bill of sale with the VIN is sufficient