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Should I buy this reconstructed 2010 Fit?

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  #1  
Old 01-02-2013, 09:24 AM
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Question Should I buy this reconstructed 2010 Fit?


Greetings! This is my first post after months of lurking, so I hope I'm posting this in the right place...

I want a Fit REALLY badly but the only ones within my budget are the dreaded reconstructed titles. So I found this Fit on Craigslist about a few weeks ago.


2010 Honda Fit Sport, 35k, loaded

After e-mailing the owner and receiving the VIN I was able to find the auction where he purchased the car, along with pictures of the damage sustained.

2010 FIT SPORT Salvage for Sale from Copart

I'm no mechanic, but it really doesn't look too bad to me. It looks more like cosmetic damage than anything. He says it's been his daily commuter for about 1.5 years since repairing it. I was gonna set up a meeting to see the car in person next week, but I just wanted some advice. Would this be a good buy? Does that price seem too high? He originally had it listed for about 500 bucks more. Could I possibly haggle it down lower?

Some back-story on me. If I were to get this car I plan on driving it until I couldn't anymore, so reselling it isn't an issue for me.

Any advice I an get before I set up a meeting would be really great. Thanks!!
 

Last edited by FitNFoxxy; 01-02-2013 at 09:25 AM. Reason: Typo
  #2  
Old 01-02-2013, 09:32 AM
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Why Is Buying a Car with a Salvage Title a Good Idea?

There's a big debate over the merits of buying a car with a salvage title. Critics of salvage title sales point out that buyers can't always know for sure how bad the previous damage was. They also point to problems with insurance, financing and low value issues. However, there are some who like to try their luck with a salvage title sale. Here are some reasons why some defy the warnings and try for a deal with a car or truck with a salvage title.
Low Cost
The main reason for the popularity of salvage title car sales is the price tag. Buyers can find cars much cheaper when they hold a salvage title. Now, a lot of the problems with salvage title cars also come from their reduced value. Blue book sites won't value them, and often, nobody knows just exactly what they are worth. That's why sellers will often part with them for pennies on the dollar. Since the advent of eBay car sales, where buyers and sellers meet online, even more salvage title vehicles are getting thrown into the mix at reduced prices.
The Right Insurance
Inexperienced buyers of salvage title vehicles often report problems with their insurers. Some insurers won't cover salvage title cars at all. Others will jack up the price of coverage due to "unknowns." Still others will charge normal premiums, but pay out almost nothing in the event of a claim.
However, some buyers use the idea of salvage title value to their favor. They call up insurance representatives and shop around for an insurer who will match the reduced value to lower premiums. That way, they got their car cheap, and they keep it on the road cheap, with a low liability premium based on the reduced value of the car.
No Resale
Drivers who want to benefit from a salvage title sale often forget about reselling the salvage title vehicle. They will drive this car for the rest of its useful life. Here's the basic idea: any used car is only as good as its functionality or getting you from point A to point B. If a salvage vehicle does that for x number of years, the driver has saved money.
Two Car Strategy
Another way that drivers profit from owning a salvage title vehicle (insured in the above fashion) is with a two-car strategy. The household buys a really nice new vehicle for combined trips, family trips and some kinds of long distance travel. They can also take out pay-as-you-drive insurance to keep premium costs down. Then, they use the salvage title vehicle for commuting (at the negotiated insurance rates). The use of the salvage title vehicle keeps mileage down on the new vehicle, so that, at the time of resale, the odometer reads low.
5 Steps for Buying a Salvage Title

Purchasing a salvage title vehicle is a little different than buying a normal used car. There are steps that you have to take to ensure that you can have the vehicle registered in your name as well as be able to purchase insurance for the vehicle.
Find and Buy a Salvage Title Car
First, you need to find a salvage title vehicle to purchase. You can find salvage title vehicles through a variety of sources. You can find salvage title cars on the Internet by searching for salvage title vehicles with your favorite search engine. Furthermore, many salvage title vehicles are made available for sale at local auctions. Check your newspaper classified ads for auctions coming soon to your area. In addition, check your yellow page directory for junk dealers, salvage dealers and towing services, as these types of businesses often have salvage title vehicles. Once you find the vehicle, negotiate the selling price and get a salvage title vehicle from the seller.
Take Photos of the Vehicle
You need to take photos of the vehicle before and after the repair process. These photos will be helpful to you when you have the car inspected for being roadworthy and to be re-titled. These photos will also help you show the inspector where the damage was so that he will be able to better focus his inspection on the damaged areas. The more photos you take of the vehicle the better. It will reduce the documentation required to describe the damages that were repaired and the parts that were replaced.
Keep Your Receipts and Documentation
Most states have restrictions on what types of used parts can be used in repairing a salvage title vehicle. Furthermore, many states require that some parts be brand-new. Research the restrictions in your state and make sure that you have ample receipts and documentation to prove what types of parts were used during the repair of the vehicle.
Get a Car Inspection
After you've completed all of the repairs to the vehicle, you need to take the vehicle to a certified inspection agency. Check with your state Department of Motor Vehicles to find out where certified inspection agencies are located. The car will be inspected for overall road worthiness and be checked to ensure that it meets your state's required safety and emissions standards. You should take all your receipts, photos and documentation to show the inspector what was used in the repair of the car.
Register the Vehicle Title in Your Name
Once your vehicle passes the safety inspection, take the proof of inspection and the rebuilt title to your state Department of Motor Vehicles. Complete the application form and submit your inspection report. You will be required to pay the fees assessed by your state for transferring the title. The title transfer application will still need to be approved, and may take several weeks before the process is completed. However, once the transfer is approved the Department of Motor Vehicles will send you the title in the mail.
Precautions to Take When Buying a Salvage Title

Although some buyers can get good up front prices when they buy salvage title vehicles, it is often a dangerous proposition. Here are some of the main reasons buyers have to be careful when trying to get a deal on a salvage title car or truck.
  • Financing. Many lenders will be wary of loaning money for a salvage title vehicle because of its dubious value and history
  • Hidden damage. The generic aspect of a salvage title and vague state requirements can make it tough to know what is truly in a vehicle's history. CARFAX checks and similar research only provides part of the story. Always conduct a thorough visual inspection to try to spot flood or fire damage
  • Lack of coverage. Some drivers wanting to purchase salvaged vehicle titles find that their common insurers will not cover these vehicles, or will only cover them at very high rates. Again, this has to do with problems regarding accurate values for a salvage title car or truck
  • Insurance claims. Another problem with ensuring salvage title vehicles is that an insurance company may not pay much in the event of a claim, contending that because of its salvage title status, the vehicle is not worth much on the market
  • Subpar repair. Another issue with salvage title vehicles is that the buyer may not be able to tell how the vehicle has been refurbished. All car parts are not equal, and using cheap parts creates a lower value vehicle and a greater chance for problems on the road
 
  #3  
Old 01-02-2013, 11:05 AM
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10K is alot of money for a car that was that fucked up. The pass side looked to have chassis damage from the rocker getting smashed in, i wouldn't buy it. Id rather buy a high mileage clean title one rather then a salvaged low mileage one.
 
  #4  
Old 01-02-2013, 11:18 AM
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In a word; no.

That Fit was severely damaged. The seller fails to disclose this on his ad (did he tell you or did you find it out on your own? Kudos if you did).

Airbags deployed. Probably damage to the unitized body structure. A lifetime of problems with poor alignment, poor panel fit, poor door closing. And probably reduced survivability if you get in an accident; crush zones have been pre-crushed. How good were the repairs?
 
  #5  
Old 01-02-2013, 11:29 AM
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Originally Posted by FitNFoxxy

Greetings! This is my first post after months of lurking, so I hope I'm posting this in the right place...

I want a Fit REALLY badly but the only ones within my budget are the dreaded reconstructed titles. So I found this Fit on Craigslist about a few weeks ago.


2010 Honda Fit Sport, 35k, loaded

After e-mailing the owner and receiving the VIN I was able to find the auction where he purchased the car, along with pictures of the damage sustained.

2010 FIT SPORT Salvage for Sale from Copart

I'm no mechanic, but it really doesn't look too bad to me. It looks more like cosmetic damage than anything. He says it's been his daily commuter for about 1.5 years since repairing it. I was gonna set up a meeting to see the car in person next week, but I just wanted some advice. Would this be a good buy? Does that price seem too high? He originally had it listed for about 500 bucks more. Could I possibly haggle it down lower?

Some back-story on me. If I were to get this car I plan on driving it until I couldn't anymore, so reselling it isn't an issue for me.

Any advice I an get before I set up a meeting would be really great. Thanks!!

I got this from a friend who has used it to buy reconstructed cars.
He test drives the car to a CarMax lot and has it appraised as if for trade-in; he feels he gets a true evaluation and can decide then if its worth the price. He buys and sells cars a lot so when he says about 2 of 3 aren't worth considering his opinion about 'how to' is valuable.
I've bought reconstructed cars thru him and never been bit.
You shoudn't expect a reconstructed car to be perfect but you must feel its safe to drive and will be reliable. Get all the help you can get. Last, check with your state motor vehicle division on what it takes to get a reconstructed vehicle registered; some won't even consider it. In any case the cost of getting it registered must be considered.
good luck.
 
  #6  
Old 01-02-2013, 11:31 AM
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Originally Posted by cjecpa
why is buying a car with a salvage title a good idea?

there's a big debate over the merits of buying a car with a salvage title. Critics of salvage title sales point out that buyers can't always know for sure how bad the previous damage was. They also point to problems with insurance, financing and low value issues. However, there are some who like to try their luck with a salvage title sale. Here are some reasons why some defy the warnings and try for a deal with a car or truck with a salvage title.
low cost
the main reason for the popularity of salvage title car sales is the price tag. Buyers can find cars much cheaper when they hold a salvage title. Now, a lot of the problems with salvage title cars also come from their reduced value. Blue book sites won't value them, and often, nobody knows just exactly what they are worth. That's why sellers will often part with them for pennies on the dollar. Since the advent of ebay car sales, where buyers and sellers meet online, even more salvage title vehicles are getting thrown into the mix at reduced prices.
the right insurance
inexperienced buyers of salvage title vehicles often report problems with their insurers. Some insurers won't cover salvage title cars at all. Others will jack up the price of coverage due to "unknowns." still others will charge normal premiums, but pay out almost nothing in the event of a claim.
However, some buyers use the idea of salvage title value to their favor. They call up insurance representatives and shop around for an insurer who will match the reduced value to lower premiums. That way, they got their car cheap, and they keep it on the road cheap, with a low liability premium based on the reduced value of the car.
no resale
drivers who want to benefit from a salvage title sale often forget about reselling the salvage title vehicle. They will drive this car for the rest of its useful life. Here's the basic idea: Any used car is only as good as its functionality or getting you from point a to point b. If a salvage vehicle does that for x number of years, the driver has saved money.
two car strategy
another way that drivers profit from owning a salvage title vehicle (insured in the above fashion) is with a two-car strategy. The household buys a really nice new vehicle for combined trips, family trips and some kinds of long distance travel. They can also take out pay-as-you-drive insurance to keep premium costs down. Then, they use the salvage title vehicle for commuting (at the negotiated insurance rates). The use of the salvage title vehicle keeps mileage down on the new vehicle, so that, at the time of resale, the odometer reads low.
5 steps for buying a salvage title

purchasing a salvage title vehicle is a little different than buying a normal used car. There are steps that you have to take to ensure that you can have the vehicle registered in your name as well as be able to purchase insurance for the vehicle.
find and buy a salvage title car
first, you need to find a salvage title vehicle to purchase. You can find salvage title vehicles through a variety of sources. You can find salvage title cars on the internet by searching for salvage title vehicles with your favorite search engine. Furthermore, many salvage title vehicles are made available for sale at local auctions. Check your newspaper classified ads for auctions coming soon to your area. In addition, check your yellow page directory for junk dealers, salvage dealers and towing services, as these types of businesses often have salvage title vehicles. Once you find the vehicle, negotiate the selling price and get a salvage title vehicle from the seller.
take photos of the vehicle
you need to take photos of the vehicle before and after the repair process. These photos will be helpful to you when you have the car inspected for being roadworthy and to be re-titled. These photos will also help you show the inspector where the damage was so that he will be able to better focus his inspection on the damaged areas. The more photos you take of the vehicle the better. It will reduce the documentation required to describe the damages that were repaired and the parts that were replaced.
keep your receipts and documentation
most states have restrictions on what types of used parts can be used in repairing a salvage title vehicle. Furthermore, many states require that some parts be brand-new. Research the restrictions in your state and make sure that you have ample receipts and documentation to prove what types of parts were used during the repair of the vehicle.
get a car inspection
after you've completed all of the repairs to the vehicle, you need to take the vehicle to a certified inspection agency. Check with your state department of motor vehicles to find out where certified inspection agencies are located. The car will be inspected for overall road worthiness and be checked to ensure that it meets your state's required safety and emissions standards. You should take all your receipts, photos and documentation to show the inspector what was used in the repair of the car.
register the vehicle title in your name
once your vehicle passes the safety inspection, take the proof of inspection and the rebuilt title to your state department of motor vehicles. Complete the application form and submit your inspection report. You will be required to pay the fees assessed by your state for transferring the title. The title transfer application will still need to be approved, and may take several weeks before the process is completed. However, once the transfer is approved the department of motor vehicles will send you the title in the mail.
precautions to take when buying a salvage title

although some buyers can get good up front prices when they buy salvage title vehicles, it is often a dangerous proposition. Here are some of the main reasons buyers have to be careful when trying to get a deal on a salvage title car or truck.
  • financing. many lenders will be wary of loaning money for a salvage title vehicle because of its dubious value and history
  • hidden damage. the generic aspect of a salvage title and vague state requirements can make it tough to know what is truly in a vehicle's history. carfax checks and similar research only provides part of the story. Always conduct a thorough visual inspection to try to spot flood or fire damage
  • lack of coverage. some drivers wanting to purchase salvaged vehicle titles find that their common insurers will not cover these vehicles, or will only cover them at very high rates. Again, this has to do with problems regarding accurate values for a salvage title car or truck
  • insurance claims. another problem with ensuring salvage title vehicles is that an insurance company may not pay much in the event of a claim, contending that because of its salvage title status, the vehicle is not worth much on the market
  • subpar repair. another issue with salvage title vehicles is that the buyer may not be able to tell how the vehicle has been refurbished. All car parts are not equal, and using cheap parts creates a lower value vehicle and a greater chance for problems on the road
good stuff !
 
  #7  
Old 01-02-2013, 11:33 AM
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Originally Posted by mahout
I got this from a friend who has used it to buy reconstructed cars.
He test drives the car to a CarMax lot and has it appraised as if for trade-in; he feels he gets a true evaluation and can decide then if its worth the price. He buys and sells cars a lot so when he says about 2 of 3 aren't worth considering his opinion about 'how to' is valuable.
I've bought reconstructed cars thru him and never been bit.
You shoudn't expect a reconstructed car to be perfect but you must feel its safe to drive and will be reliable. Get all the help you can get. Last, check with your state motor vehicle division on what it takes to get a reconstructed vehicle registered; some won't even consider it. In any case the cost of getting it registered must be considered.
good luck.

Also have to keep in mind most finance company wont finance a salvaged car so if you're trying to finance it (unless you got 10k cash) you might want to look elsewhere.
 
  #8  
Old 01-02-2013, 11:46 AM
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Originally Posted by Steve244
In a word; no.

That Fit was severely damaged. The seller fails to disclose this on his ad (did he tell you or did you find it out on your own? Kudos if you did).

Airbags deployed. Probably damage to the unitized body structure. A lifetime of problems with poor alignment, poor panel fit, poor door closing. And probably reduced survivability if you get in an accident; crush zones have been pre-crushed. How good were the repairs?
X2...just put that money for a down-payment for a 2013 Fit
this was what i did before and I regret it so FUCKING bad !!!!
 
  #9  
Old 01-02-2013, 12:18 PM
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If you are willing to drive to get a car Certified 2009 Honda Fit Sport $9,780

2009 Honda Fit

5-Speed Automatic

Peace of Mind $9,780
was $11,480 You Save: $1,700
KBB Value™ $12,006



Manager Comments:

This roomy and sporty hatchback is big on features and small on price. This beautiful and gorgeous Honda Fit "Sport" is a perfect hatchback with all the right options to make sure you enjoy every minute and every mile behind the wheel. It was sold by us brand new, was regularly serviced and maintained here, and comes with a clean 1-Owner Carfax Vehicle history report. This value vehicle is loaded with all the nice power options, keyless entry, ABS, side air bags, paddle shifters, cruise control, fog lights, premium MP3 CD sound system, alloy wheels, and much much more. Clean 1-Owner ... more

About this 2009 Fit

Stock No: HLA130108A Year: 2009 Make: Honda Model: Fit Trim: Sport Serial no: JHMGE88489S033804 Drive: FWD Engine: 1.5L I4 SOHC i-VTEC 16V Trans: 5-Speed Automatic MPG: 27 city / 33 highway Doors: 4 Color:
Miles: 79,973 New Used: USED
 
  #10  
Old 01-02-2013, 12:32 PM
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Originally Posted by Steve244
In a word; no.

That Fit was severely damaged. The seller fails to disclose this on his ad (did he tell you or did you find it out on your own? Kudos if you did).

Airbags deployed. Probably damage to the unitized body structure. A lifetime of problems with poor alignment, poor panel fit, poor door closing. And probably reduced survivability if you get in an accident; crush zones have been pre-crushed. How good were the repairs?
Yeah I figured a car with that many miles at such a low price must have something wrong with it, hence me wanting the VIN. And after Googling his name and phone number+Craigslist I found that he listed the same car on New York's Craigslist but he disclosed the R title in that listing. Weird.
 
  #11  
Old 01-02-2013, 12:37 PM
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Thank you all for the suggestions! I guess I should stop being a cheapskate and get a clean title car. I just don't wanna deal with car salesmen.
 
  #12  
Old 01-02-2013, 01:01 PM
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Originally Posted by cjecpa
If you are willing to drive to get a car Certified 2009 Honda Fit Sport $9,780

2009 Honda Fit

5-Speed Automatic

Peace of Mind $9,780
was $11,480 You Save: $1,700
KBB Value™ $12,006



Manager Comments:

This roomy and sporty hatchback is big on features and small on price. This beautiful and gorgeous Honda Fit "Sport" is a perfect hatchback with all the right options to make sure you enjoy every minute and every mile behind the wheel. It was sold by us brand new, was regularly serviced and maintained here, and comes with a clean 1-Owner Carfax Vehicle history report. This value vehicle is loaded with all the nice power options, keyless entry, ABS, side air bags, paddle shifters, cruise control, fog lights, premium MP3 CD sound system, alloy wheels, and much much more. Clean 1-Owner ... more

About this 2009 Fit

Stock No: HLA130108A Year: 2009 Make: Honda Model: Fit Trim: Sport Serial no: JHMGE88489S033804 Drive: FWD Engine: 1.5L I4 SOHC i-VTEC 16V Trans: 5-Speed Automatic MPG: 27 city / 33 highway Doors: 4 Color:
Miles: 79,973 New Used: USED
If this were in Philly I'd highly consider it. Thanks anyway though
 
  #13  
Old 01-02-2013, 02:07 PM
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My wife's parent thought it would be a good idea to buy her a salvaged ford escape back when she was in college.

It was a good car for about a year, but as the miles racked up, and things began to flex from use, it started to fall apart. Water leaks, loose panels, electrical problems, dash lights, you name it.

I don't think I would ever buy a salvaged vehicle, but if I were to even consider it, the price would have to be 5,000 or less. No way would I spend more than that.
 
  #14  
Old 01-02-2013, 03:06 PM
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Originally Posted by FitNFoxxy
Thank you all for the suggestions! I guess I should stop being a cheapskate and get a clean title car. I just don't wanna deal with car salesmen.
These days you don't have to deal with salesmen. I think all new car dealers have internet departments that you can email/call and ask the best out the door price, then you just go in and sign the paperwork.
 
  #15  
Old 01-02-2013, 03:29 PM
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Run far away from that mess.

 
  #16  
Old 01-02-2013, 03:45 PM
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Hmm. Maybe ill try that. Id rather plop down the cash than deal with financing so that's why I've been looking at private sellers. But ill research some dealer online depts.
 
  #17  
Old 01-02-2013, 03:51 PM
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Is it really that bad? I feel silly for even considering it now
 
  #18  
Old 01-02-2013, 04:16 PM
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Private sellers are frequently NOT private sellers, I've found this true in the Philadelphia market. A while back we were looking for a new used car... and we found a frequent practice that guys would have one or two cars to sell that they had at/near their houses with for sale signs on, and they were placing newspaper ads as if they were an independent seller, that they were actually fronting for car dealerships. You wouldn't have known this necessarily without asking the right questions.
 
  #19  
Old 01-02-2013, 05:52 PM
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Not touching that car with a 10ft pole. Would be too worried about tweaked unibody.
 
  #20  
Old 01-02-2013, 06:05 PM
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i rather take the bus lol then drive this fit or not gotta cut and weld better off getting that 10 grand ur gunna spend get a new fit or a used one from the honda dealer give them 10gs ur payments will be so low not even funny
 

Last edited by Wafulz; 01-02-2013 at 06:07 PM.


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