2006 LJ with 120K miles and salvage title—What is an honest value for seller and buyer?

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DeadStang

DeadStang

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Obviously $50 doesn't buy it, lol. I looked at a Jeep today I am thinking about. I would like a Jeep to build fairly aggressively without guilt...

I can't use my one owner, '06 Rubi, bone-stock, 37K old-man miles Khaki for my crawler — once I bought it I very quickly realized that was not going to happen under my watch. So then I bought this sweet one owner '04 LJ with 114K also old man miles that isn't quite as pristine — but I freaking LOVE driving it just as it sits, 100% bone stock, super boring but it's just the best daily driver, ever.

So I found this salvage title thing that has already started getting modded that I think I could build without the guilt. I'm new to mods on TJs as my built Jeep is a JK but this is some of the stuff that's been done:

Recent rebuilt transmission, brake job, general fluid service, newer exhaust, new U-joints, axle bearings/seals, radiator/WP/Tstat/fan clutch, new timing chain.

Non OEM hardtop but missing all the factory soft top hardware, 4” Zone/BDS lift with Rancho RS 5000x struts, heavy duty spare tire mount, Rubicon express sway bar disconnect kit, adjustable RC track bar, Rampage front/rear bumpers, Poison Spider rock sliders, Bush-Wacker fender flares, Custom Slip Yoke Eliminator Kit with Adams double cardan cv driveshaft.

The underside is clean as is the topside. The salvage title accident pix look wimpy and pathetic so I don't thing it drives sideways down the road and the tires appear to be wearing evenly. But, west coast snob that I am, I see no SWELLING, but the passenger door underside seam forward (about 4") has some scale that is not just surface deep (NOT visible to the outside on the door skin) and the tailgate has the same thing on the passenger underside but about 6-8" in length. In my previous life of driving vintage Mustangs, this type of rust is impossible to kill once started and is not the same as underside surface scale/rust. It can probably be ground out, but it bothers me a bit.

With all of the above details — what would be a non-insulting offer for this? Is $10K a rip off to me, the buyer (and insulting to the seller)? $12K? He wants over $17K for it...

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What type of salvage is it? Theft with no accident? Accident? Where was the damage?

For 17k you could get a non salvage LJ in my opinion. So he has to come down depending on above.
 
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Moab said:
What type of salvage is it? Theft with no accident? Accident? Where was the damage?

For 17k you could get a non salvage LJ in my opinion. So he has to come down depending on above.
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I agree, it depends what it’s history was, but he is definitely closer to a non-salvage price. As you are aware, Any kind of salvage title really reduces value.
 
Moab said:
How can you tell that from 3 pictures? Not questioning you. Just curious. Its not worth 17k but not sure what your seeing that makes it a 7k rig?
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I would guess he's referring to the salvage title (making it 1/2 the actual value) AND the hideous white top, wheels, fenders, sliders, and bumpers — it all together looks super goofy IMO, but if I could buy it well, I could mod the $hit out of it and not have intense guilt.
 
according to Kelly Blue Book, starting point should be 20-40% less than normal BlueBook value, subject to individual conditions of the vehicle.

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imactj2004 said:
according to Kelly Blue Book, starting point should be 20-40% less than normal BlueBook value, subject to individual conditions of the vehicle.

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I agree with this completely. Except in the case of building an offroad jeep only.

I personally wouldnt buy one. As mine are driven. And need insured. Secondly i don't own a mechanics shop to sort out whatever might be wrong.

But if your building an offroad only jeep. It might be worth the savings.
 
Moab said:
I agree with this completely. Except in the case of building an offroad jeep only.

I personally wouldnt buy one. As mine are driven. And need insured. Secondly i don't own a mechanics shop to sort out whatever might be wrong.

But if your building an offroad only jeep. It might be worth the savings.
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Good points — the discount factor is VERY subjective to the buyers intentions and their time/desires to take on any new problems that aren't obvious. Risk factors.

A carfax report establishes a values based on the title history. If I was in your shoes, I'd offer him/her 50% of a clean title bluebook value. Those add-ons and aftermarkets are sunk costs on his part, nothing that any buyer should have to pay a premium for.

FWIW — I own a salvage title vehicle and I would never ask for more than 50% of bluebook value, even if it was fully restored and flawless. He or she seems to be exploiting the L, but that's not worth 10K on a salvage title...unless he's looking at other LJ's and aying that they are worth 35K (which I've seen advertised, sadly).
 
I used to buy salvage Jeep TJ's from a insurance company and rebuild them. But I would buy three of four at a time so I would get a pretty good deal. I'd buy them for $3500 to $4500 each.
 
imactj2004 said:
Good points — the discount factor is VERY subjective to the buyers intentions and their time/desires to take on any new problems that aren't obvious. Risk factors.

A carfax report establishes a values based on the title history. If I was in your shoes, I'd offer him/her 50% of a clean title bluebook value. Those add-ons and aftermarkets are sunk costs on his part, nothing that any buyer should have to pay a premium for.

FWIW — I own a salvage title vehicle and I would never ask for more than 50% of bluebook value, even if it was fully restored and flawless. He or she seems to be exploiting the L, but that's not worth 10K on a salvage title...unless he's looking at other LJ's and aying that they are worth 35K (which I've seen advertised, sadly).
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The current seller didn't have the accident or do the mods. I don't have the VIN to run a Carfax on it, but it's allegedly from southern California. The "kid" who brought it up from Cali did the mods and put the white top on, then sold it to this guy. I suspect this guy overpaid as he had had a TJ in the past and thought it was fun, so he bought this one. Now he's selling as I am sure this doesn't drive anything like his original shorty TJ did.
 
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