[Bbb34]

Originally Posted by Swish

...Call me crazy, but I'm willing to take the chance.

[Gregxi]

I have not seen a insurance company sell directly to a dealer in over 20 years, Every insurance company I have dealt with sends the vehicles to insurance auctions houses like COPART, IAA, etc. The only way I could get a vehicle is have the owner buy it back from the insurance company and then buy it from him before the title changes hands
In most states 65% of book value will total the vehicle.
So for sake of argument say you have a car worth 20 grand and it was in an accident and the damage was about 11k even though you are below 65% there is a strong chance a supplemental repair might be needed so the insurance company will total it and sell it to the highest bidder. in cases of water damage I've seen them totaled at 35-40% of book and if it's salt water even less.

I have bought water damaged units before but they were parted out.Its next to impossible to retail a salvage title, most finance companies wont touch it and even more insurance companies won't offer full coverage .
I don't believe the"dealer " is being very honest about how they buy a lot of cars from this insurance company. It doesn't work that way.

Save your money

[mko9]

I would only buy this car if 1) you got a screaming deal, like 50% or less of KBB value, and 2) you plan to drive this car to the grave. It will always carry the branded title, so never have anywhere near the resale value. And with water damage, you never know what is going to pop up so you will need every dollar you can save to address problems. Do your due diligence and get extensive and complete documentation of what happened, and what was repaired/replaced.

[doublemetreF10]

Run away from that car as fast as you can! You will live to regret that purchase should you decide to take the plunge (just as the car already has!)

[doublemetreF10]

Originally Posted by graphite

Working for a dealer, I can tell you that salvage vehicles usually go for about half the value of a clean title vehicle, and that's on a good day.

Also, Route 66 will not warranty any branded or salvage title vehicles. Don't think I've come across a single warranty that will.

My advice: avoid it like the plague. There's a reason an insurance company forked out +/-$30k from their pocket to the original owner, and it's sure not for a simple claim. Pay an extra 3-5k and get a clean title F10 with similar features and move along happily in life.

This is sage advice, you would do well to heed it.

[EL Jeffe 5]

Originally Posted by Gregxi

I have not seen a insurance company sell directly to a dealer in over 20 years, Every insurance company I have dealt with sends the vehicles to insurance auctions houses like COPART, IAA, etc. The only way I could get a vehicle is have the owner buy it back from the insurance company and then buy it from him before the title changes hands
In most states 65% of book value will total the vehicle.
So for sake of argument say you have a car worth 20 grand and it was in an accident and the damage was about 11k even though you are below 65% there is a strong chance a supplemental repair might be needed so the insurance company will total it and sell it to the highest bidder. in cases of water damage I've seen them totaled at 35-40% of book and if it's salt water even less.

I have bought water damaged units before but they were parted out.Its next to impossible to retail a salvage title, most finance companies wont touch it and even more insurance companies won't offer full coverage .
I don't believe the"dealer " is being very honest about how they buy a lot of cars from this insurance company. It doesn't work that way.

Save your money

Some true in your statement
I personally can tell you bank will finance and insurance will insure 100%.
just because I did this before and I would do it again.

[EL Jeffe 5]

Originally Posted by mko9

I would only buy this car if 1) you got a screaming deal, like 50% or less of KBB value, and 2) you plan to drive this car to the grave. It will always carry the branded title, so never have anywhere near the resale value. And with water damage, you never know what is going to pop up so you will need every dollar you can save to address problems. Do your due diligence and get extensive and complete documentation of what happened, and what was repaired/replaced.

any car will brake down regardless of salvage title or regular title

[Bbmw535]

Originally Posted by Swish

I am seriously considering it, which might sound crazy, but hear me out before you crucify me.

The car is a 2013 M-Sport with about every conceivable option and only 27,000 on the odometer. It's a dealer who bought if from an insurance company that paid a claim for 'water damage'.

Yes, that scared me off a bit, but the car is immaculate and everything works. There are tons of pictures and they're basically challenging me to find any evidence of water damage.

They claim that before they bought it (makes sense) they checked it out from top to bottom and gave it a test drive. They also claims everything works exactly as it should; navigation, lane departure warning, back up camera, heated front and rear seats....everything.

There is no warranty (wonder if Route 66 would offer one?) and the price is only $24,900.

I would appreciate your thoughts as well as the price and warranty concerns.

Thank in advance.

Swish

I would never buy bmw with salvage title.
They are way too sensitive once they start braking down it doesn't stop..thats my personal experience..others may think different.