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Discussion Starter · #1 · (Edited)
It is a HRM edition that was put back together by Dietsch Werks (not being sold to me by them, but Dietsch Werks sold it to the guy who is selling it now) . I talked to Rob @ Dietsch Werks and he was telling me it was a side swipe and the frame was not damaged at all and it was solely the front and rear clam and the side seal.

It is a great looking car and I realize that being HRM is will have a lot of extras.

-43k Miles

My main concerns resell value, I don't want to lose 5k on resell because I paid more for the car than it was worth.

What do you guys think?
 

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take a look at the spreadsheet in my signature

Granted 2012 prices were cheaper than they are now - a guy got his 2005 salvage title for $20,000 and it had 45k miles on it. In 2010 (even cheaper prices than 2012) there was a guy who snagged a really good deal of $18,500 on a 2006 that had a salvage title and only 7k miles on it. Those are the only two salvage titles from the thread "How Much Did You Pay For Your Elise?" but it seems a bit high. I'd hit them at $22k and see where they go from there.
 

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Discussion Starter · #3 ·
Wow what an insightful spreadsheet, thank you for sharing. There isn't tons of data there, but it does give an idea.

I feel if I can get some pictures that show the damage was light and to the outside of the car that would help with resell as well, i mean there is bound to be someone who comes along that places a higher value on the car because its appearance even though it is salvaged. I just don't want to have to sit on it 6+ months to sell it when the time comes.

Its a great looking car, one of my favorites online, i just can't justify 27k on a salvaged title. I was thinking about hitting him with 23-24k but maybe 22 would be a good starting point.
 

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I was thinking about hitting him with 23-24k but maybe 22 would be a good starting point.
:clap:

Minuses (in no particular order):
Not low millage (this is sort of a plus. You would have one less reason to NOT drive the car (And I have found that as fun as they are to look at, they are more fun to drive!))


Salvage Tile. This is not a show stopper, but never helps. The more documentation you have, the better, but many banks/insurance carriers/prospective buyers say guilty until proven innocent with the burden of proof on the seller.

You can find an 2005 for that price ($27K) with a clean title.



I will share the best automotive buying advice I was ever given.

"Buying a car is not an emotional thing, is a simple question: They have a car, you have a stack of money; want to trade?"
 

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I know of silver w/red interior with 20K miles and can be bought for $25K. Obviously salvaged but I know the previous owner and the body shop that repaired it. The car is in CA if interested.
 

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Discussion Starter · #8 ·
I know of silver w/red interior with 20K miles and can be bought for $25K. Obviously salvaged but I know the previous owner and the body shop that repaired it. The car is in CA if interested.
Any chance you can link me to a posting of the car?

I've seen a silver w/ red interior in San diego for sale which is where I am at.

More info please!

EDIT:I'll just PM you
 

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It could be just as good as a non-salvage title car but the price will never reflect that. That is, if you decide to sell it later few if any buyers will care that you spent $27k and felt it was worth it.

On the other hand, you have a lot of leverage for what might be a good car with a few miles on it. The asking price is very high, so unless the seller is smoking something funny he shouldn't be surprised with an opening offer of about $18k (that seems to be the game he's playing). Frankly, I wouldn't go over $22k, even if everything else checks out.

Also, don't let him tell you that HRM adds much value. HRM (Hunting Ridge Motors) as I understand is just a dealer that fancied up some cosmetic applications on Lotus cars - most of which get mixed reviews.
 

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Discussion Starter · #12 ·
It could be just as good as a non-salvage title car but the price will never reflect that. That is, if you decide to sell it later few if any buyers will care that you spent $27k and felt it was worth it.

On the other hand, you have a lot of leverage for what might be a good car with a few miles on it. The asking price is very high, so unless the seller is smoking something funny he shouldn't be surprised with an opening offer of about $18k (that seems to be the game he's playing). Frankly, I wouldn't go over $22k, even if everything else checks out.

Also, don't let him tell you that HRM adds much value. HRM (Hunting Ridge Motors) as I understand is just a dealer that fancied up some cosmetic applications on Lotus cars - most of which get mixed reviews.
Solid advice, Thank you sir!

"that seems to be the game he's playing" <<<< LOL I think you are right. I don't think he is in a rush to sell it necessarily.

It was listed at 30k but the first time we spoke he said he would be willing to do 27k, So i'm hoping I can get it down to a fair price.
 

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It could be just as good as a non-salvage title car but the price will never reflect that. That is, if you decide to sell it later few if any buyers will care that you spent $27k and felt it was worth it.

On the other hand, you have a lot of leverage for what might be a good car with a few miles on it. The asking price is very high, so unless the seller is smoking something funny he shouldn't be surprised with an opening offer of about $18k (that seems to be the game he's playing). Frankly, I wouldn't go over $22k, even if everything else checks out.

Also, don't let him tell you that HRM adds much value. HRM (Hunting Ridge Motors) as I understand is just a dealer that fancied up some cosmetic applications on Lotus cars - most of which get mixed reviews.
100%
 
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