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      09-11-2018, 02:46 PM   #23
WangTa
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Quote:
Originally Posted by gmbbs View Post
Wow. Soooooo much misinformation.

1) Yes, the car totaled by an insurance company is at Copart...their business model is selling cars totaled by insurance companies. They also sell dealer cars, Donations cars, retired rental cars, fleet vehicles etc.

2) Hail damage does not mean an automatic salvage title. In fact, here where I live, the state will not allow hail damaged cars to be titled salvage, clear titles are required. Every state has their own titling laws, and some states don't even have titles and sell cars on Bill of Sales, if a certain age.

3) Cars can be inspected a couple days prior to auction. They cannot be driven. They usually can be started if you want.

4) It's easy for a car to be totaled due to hail. A complete professional re-spray could cost $4-8K. Then add hood/roof replacement (auto-body shops don't repair damage much anymore, preferring to replace panels) , possible rental expense, etc. ALSO...since hail cars bring so much more money at auction than crashed cars, insurance companies might have a lower threshold for totaling them; 60% instead of 75%, for example.

5) Cars are not totaled due to hail dings on pillars. While considered a "structural" part, so are frame rails, inner structure, cowls, roofs, rocker panels, floors, quarter panels... These parts are properly repaired all day every day. Manufacturers have published guidelines for proper repair as well.

6) AutoCheck/Carfax might show one thing now, but once the auction sale is completed, it will likely be updated to show that this car's been declared a total by an insurance company.

7) Insuring this car should not be an issue. If it had a salvage title, or if you want to insured with a specialty company, then you might have issues (financing a salvage title car might be tricky as well). Caveat emptor.


I'm not trying to be a jerk to other posters, but, incase you haven't figured it out, I'm a bit of an expert in this area, having personally overseen the sale of 120,000+ total losses over the last 12+ years. Just want to help the community by dropping some knowledge, not opinion, fake news or dark-web conspiracy rumors.

This car would be an excellent buy, IMHO, and will likely sell for $.45 on the dollar. Although... get a couple buyers battling for it, and could bring 60% or more of actual cash value. That's how auctions do.

Also, anyone bidding be aware of buyer's fees, they could be substantial if this car brings all the money.

WHEW! Off my soapbox now, back to work...
Thanks for all the info gmbbs. I know jack in this area - it's an interesting part of the industry to learn about. Also kinda tough to really understand it unless you actually participate in it (i'm guessing).
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      10-18-2018, 03:27 PM   #24
gmbbs
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FYI, sold for $13K (plus fees, which would be 6-800ish)
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      10-18-2018, 05:20 PM   #25
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That sounds like all the money.
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      10-19-2018, 12:52 PM   #26
SDCoupe
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Hmm. 13k + 800 fees + 1200 to ship equals $15k. I guess that's not bad. Not a steal though. About a 5k discount from a non salvaged car with same mileage and no hail damage.
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      10-20-2018, 05:01 PM   #27
APARSHr35
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Hey guys, I'm new here and I'm the guy that bought this one
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      10-21-2018, 11:23 AM   #28
Shawkinguk
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Ha congrats
Great car
I was watching it (must add more mcoupes to the garage!) but the bid got too high
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      10-21-2018, 07:45 PM   #29
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Quote:
Originally Posted by APARSHr35 View Post
Hey guys, I'm new here and I'm the guy that bought this one
Start a thread if you would please. Or keep this one going. I’d love to watch your progress.
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      10-21-2018, 10:28 PM   #30
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Originally Posted by wdb View Post
Start a thread if you would please. Or keep this one going. I’d love to watch your progress.
Sorry this is confusing, but i realized i had an old account through bimmerfest or something that worked here and for whatever reason my new account i made was not letting me post new threads. So anyway, i'll be using this account and not that APARSHr35 account.

That being said i do plan on posting some youtube videos and if i get time i'll post some progress here too. I'll start a new thread now.
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