What would a salvage title do to the value of 2005 Toyota Prius?

Question

It has been repaired- we bought it with a salvage title, but now the paint where the repair was done is bubbling and peeling. We need to know what an outside appraiser may put the value at. 38k miles, no navigation.

Answer 1

It would cut the price in half. You cannot get bank financing with a salvage title vehicle.

It also voids any warranty and you cannot purchase an extended warranty for it either.

Answer 2

I was an appraiser for a couple of years, and can tell you that the repair cost to repair the damage using standard industry repair techniques is directly subtracted from the market value of the car.

If I were you, I'd bypass the appraiser and just put an ad on Craig's list, Ebay and in the paper to sell the car. Don't try to con anybody, there's any number of people who'll buy a salvage-title car if they can get it a few hundred dollars cheaper than a cream puff if structurally the car was repaired properly. Just be honest and don't hide anything and you'll be fine.
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Answer 3

I wouldn't pay more than $5000 and then only if it's in perfect working order. If you can't tell this yourself, then get one of the firms that specializes in inspections to do it. A salvaged car won't have any warranty at all so you're taking a risk. The risk isn't any higher with the Prius than with any other car, but it's still a risk. A non-salvaged 2005 would still have four or five years of warranty left depending upon the in-service date.

Answer 4

The salvage history stays with the car forever. Some states even stamp salvage on the title.
A salvage title would usually put the retail value of the car close to the trade in value.
The peeling paint and bubbling will deduct a couple hundred from the value.
------------------- Average Trade-In------------------- Average Retail
-------------------------Base Price $19,725------------------ $22,300
Mileage - 38,000 miles -------------- -$150--------------------- -$150
TOTAL PRICE ------------------ $19,575------------------ $22,150

Answer 5

If you bought it with a Salvage Title, and you Titled it, it no longer is a Salvage Title, value is based on repairs made plus value of vehile prior to repairs being made...