What would you pay for a salvage LJ?

[toximus]

A 2004 automatic LJ with 270k miles popped up for sale in my area. Looks like it was a rollover with a now salvage title. It's going to need some new body panels but supposedly the frame is straight and it runs and drives. Supposedly there is no rust too. Has no top either.

Obvious concerns are that it has managed to get 270k miles on it. I'm thinking I'll ask the seller if I can take an oil sample and get it tested to get a better idea of the engine. I'll also measure the frame. As for any missing parts or parts that need to be repaired, I think I might already have those from my LJ build. Besides that, what other concerns would you guys have?

I might sell it after fixing. If you knew an LJ had a salvage titled but was meticulously repaired, what would you pay for it considering it still would have 270k miles on it?

 

[toximus]

One other consideration I have is that I could swap my good condition 83k mile engine and tranny into it and upgrade to an LS.

 

[05 Blue Unlimited]

Well lets ask a slightly different question. What would you pay for a non rolled LJ with a clear title. I paid 15.5 for my clean 05 LJ with 58K on the meter in 2013. I would think that the salvage title will always be a issue if you plan on selling.

 

[toximus]

Well lets ask a slightly different question. What would you pay for a non rolled LJ with a clear title. I paid 15.5 for my clean 05 LJ with 58K on the meter in 2013. I would think that the salvage title will always be a issue if you plan on selling.

Now let's say that you could get it for a 1/4 to a 1/3 of that price?

 

[Squatch]

Now let's say that you could get it for a 1/4 to a 1/3 of that price?

But you need to factor in the 270,000 miles, as well. That's up there, and it's wrecked. Maybe it's a deal, but I think not. I tripped across mine, and paid $750 for it (was offered it to me for $500, but I felt guilty about doing so). That is an extreme exception to their general value, but the point is that there are some real deals out there. The one you described doesn't sound like one of them, IMHO.

 

[Mike_H]

I don't think you'll get your time and money out of it. Now...If you want it for parts, or to keep it, that is another story...but to flip...nah, probably not.

 

[Jerry Bransford]

The market for salvage title vehicles is pretty small considering you can only get liability insurance on them from most insurance companies. My previous TJ was stolen and AAA paid off with a nice check. But AA said that won't happen with my current salvage title Jeep, they only agreed to provide liability insurance for it because of its salvage title. So if I wreck it or it gets stolen, my present TJ is uninsured so far as AAA is concerned.

 

[05 Blue Unlimited]

I don't think you'll get your time and money out of it. Now...If you want it for parts, or to keep it, that is another story...but to flip...nah, probably not.

And that's the key question...if you want to flip it? To get it for very little to fix and drive is one thing, but to flip it and get your cost out of it once it's finished is another.

 

[89sandman]

The biggest problem with reselling a salvage titled vehicle is no one will loan on it. I always hear oh my bank will. Until it comes down to it and they find out they will if they give them a title to a non salvaged vehicle for collateral that is worth the loan amount. To me this is not loaning on the salvaged title but the title that isn't. If the vehicle is $5k or under I don't care if the title is salvaged I'm just looking to purchase the one in the best shape. Get above 9-10kish and is just not worth it unless it is close to half what a clean title vehicle is. People can come up with $5k cash, having someone come up with above 10k is another story. Salvaged title and 270k equals pretty much worthless.

 

[toximus]

The biggest problem with reselling a salvage titled vehicle is no one will loan on it. I always hear oh my bank will. Until it comes down to it and they find out they will if they give them a title to a non salvaged vehicle for collateral that is worth the loan amount. To me this is not loaning on the salvaged title but the title that isn't. If the vehicle is $5k or under I don't care if the title is salvaged I'm just looking to purchase the one in the best shape. Get above 9-10kish and is just not worth it unless it is close to half what a clean title vehicle is. People can come up with $5k cash, having someone come up with above 10k is another story. Salvaged title and 270k equals pretty much worthless.

Good to know. That right there really changes things.

With the Jeep not having a roll cage or windshield in right now it's going to be work to even get my spare top on it and I already am busy enough with my current Jeep. As far as spare parts go, at this point I have very little actual Jeep parts in mine that aren't modified or replaced. Even the tub would probably be easier to cut sheet metal to repair if somebody hit me than to replace the full tub.

I probably still will check it out and see what all he has and make an offer if I can see throwing a tarp over it and rebuilding it as a parts getter in a year.

 

[weldedcambolt]

The market for salvage title vehicles is pretty small considering you can only get liability insurance on them from most insurance companies. My previous TJ was stolen and AAA paid off with a nice check. But AA said that won't happen with my current salvage title Jeep, they only agreed to provide liability insurance for it because of its salvage title. So if I wreck it or it gets stolen, my present TJ is uninsured so far as AAA is concerned.

I would look around, for an insurance company that will insure it for what you think it is worth. I got one that is doing that for me on another vehicle, for what i got in it, now its a bit more, but i am covered.