value of GT w bad title ?

[HUBBSTER]

Found a GT that had a salvage title, car had slight front end wreck, not too bad, looks great now.

Issue is the owner is an Atty who decided to have sparring match w insurance Co, so Co screwed him by giving car a Cert of Destruction. My Atty says State will not rebuild this title.

That won't stop me from turning her into a full race GT.

Question is what is a reasonable offer for GT that can never be registered ?

 

[Sinovac]

I think at least 50%-60% reduction in value. The market is fairly small. Also remember the certificate of destruction can be reassigned only 2 times.

 

[B.M.F.]

car is still worth 150k all day long..

 

[Sinovac]

car is still worth 150k all day long..

Perhaps a salvage title car, but not a car on a certificate of destruction.

 

[twobjshelbys]

Even as a track car you need the ppi to see what the original damage and the repairs are track worthy. Find out who did the work.

 

[jcthorne]

While I am no expert like the rest of you.....

The fair sales price would likely fall somewhere even or below the sum of the used parts prices less cost of dismantling.

 

[Cobrar]

Just a perspective. Wonder if the current value of the GT BOM is over $1m yet.

 

[beckertb]

The car in question I believe is only worth what someone is willing to pay for it as a race car. That certificate of destruction is far different than a salvage or prior salvage car as it can not be registered for road use (without the use of a dealer tag). The asking price of $140 doesn't seem unreasonable if you are going to turn it into a race car but the market for such a car is incredibly small.

JMO

 

[1434gt]

The car in question I believe is only worth what someone is willing to pay for it as a race car. That certificate of destruction is far different than a salvage or prior salvage car as it can not be registered for road use (without the use of a dealer tag). The asking price of $140 doesn't seem unreasonable if you are going to turn it into a race car but the market for such a car is incredibly small.

JMO

I don't think you can drive the car on the road with a dealer plate , I had a friend that has done that until he got stopped and his car was impounded

 

[ROCK]

What's the value of it ?
To make it a rece car... this car plus repairs = the value of a similar race car.
To the rest of the world...this car plus repairs < similar car.

 

[partssmann]

A member here sometime back had his FGT repaired and it carried a salvage title. Years later wrecked again and was total loss. At the time FGTs were averaging $200K and the insurance company gave him $150K based on diminished value of salvage title.

 

[debtdrives]

Funny that an insurance co factored in the "diminished value" yet they won't pay for that when you get hit!! Lol.

 

[Wwabbit]

It won't be competitive as a race car, it's just too heavy and if you pump in more horsepower, it can't keep itself cool unless you dump the supercharger. It's cheap to run but expensive to repair so even as a track car it's just a novelty. It was built to look good and drive nice. But if you insist, pay as little as you can, strip it down and improve the suspension, get rid of the blower and drive defensively.

 

[HUBBSTER]

I think at least 50%-60% reduction in value. The market is fairly small. Also remember the certificate of destruction can be reassigned only 2 times.

What does that mean ? I know lots of race cars have no title at all

 

[HUBBSTER]

car is still worth 150k all day long..

Maybe but only to racers or die hard track rats

Wonder if it can b titled in another country ?

 

[Sinovac]

What does that mean ? I know lots of race cars have no title at all

True. But the GT you are contemplating buying isn't a race car. It's a street car with a certificate of destruction. Do you doubt the market for a GT on a certificate of destruction is small? The market for the car will be even smaller once you've thrashed it on a race track, assuming, of course, you haven't won Le Mans.

 

[Sinovac]

Wonder if it can b titled in another country ?

You mean other than Miami?

 

[RALPHIE]

you mean other than miami?

:lol

 

[B.M.F.]

Perhaps a salvage title car, but not a car on a certificate of destruction.

They can be sold over seas with a destruction title. IF the car is fixed right the title is irrelevant. Some day down the road everyone will see how tru this really is! This car isnt a mustang, camaro, corvette or any other car that is made year after year. I would buy as many as i could at 150 destruction title or not and miles would play a part aswell. As parts go up and no longer become available all these cars are gonna be worth more....

 

[B.M.F.]

A member here sometime back had his FGT repaired and it carried a salvage title. Years later wrecked again and was total loss. At the time FGTs were averaging $200K and the insurance company gave him $150K based on diminished value of salvage title.

My ins company gave me 166k and my car back and it was already a prior salvage title fixed car when i wrecked it..