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Salvage Carrera GT on eBay for $165k

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Repair costs=A TON! Good luck to anyone who buys that at $165k.

 

From what I can see it needs

 

Paint

Rear taillight

rear bumper

rear diffuser

left rear suspension

new carbon fiber engine shroud-big bucks

new mufflers

etc

etc

etc

etc

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If you are truly interested in purchasing it, here is what I would do. Find someone who is qualified and knows what they are talking about to go look at the car, perhaps a porsche mechanic from the dealer - someone who has access to find out how much certain parts will cost.

 

By getting the car properly inspected you can get a ballpark idea on what it needs and how much it will cost. Once you have that info you can determine if you want to give them an offer or just walk away. Chances are, if you purchase this car for $165k, at the end of the day it may end up costing close to what a clean carrera gt goes for in todays market

 

also remember, once a car is salvaged it will never again be worth nearly as much as a clean example. sometime along the line you will want to sell it and move on, and thats when your second set of problems will start.

 

here is one for 270k:

 

http://cgi.ebay.com/ebaymotors/2005-PORSCH...A1%7C240%3A1308

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^That Silver one for sale on ebay has been tracked extensively, suposidly its been on track throughout the states.

 

And Im not saying thats a huge turn off, its just that people that buy CGT's want cars with little or no track time..... ALthough the car was designed for motorsports.

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If you are truly interested in purchasing it, here is what I would do. Find someone who is qualified and knows what they are talking about to go look at the car, perhaps a porsche mechanic from the dealer - someone who has access to find out how much certain parts will cost.

 

By getting the car properly inspected you can get a ballpark idea on what it needs and how much it will cost. Once you have that info you can determine if you want to give them an offer or just walk away. Chances are, if you purchase this car for $165k, at the end of the day it may end up costing close to what a clean carrera gt goes for in todays market

 

also remember, once a car is salvaged it will never again be worth nearly as much as a clean example. sometime along the line you will want to sell it and move on, and thats when your second set of problems will start.

 

here is one for 270k:

 

http://cgi.ebay.com/ebaymotors/2005-PORSCH...A1%7C240%3A1308

Market Value for a clean decent mileage CGT in today's market is between $240,000-$270,000. Say you buy this car for $165,000.. You fix it perfectly for the tune of $60,000 (conservative given CGT parts). You are out of pocket $225,000. You drive it for a week, and your car gets stolen. The insurance company wont give you more than 50% of the value of a clean titled car (with a rebuilt title car) so $125,000. You just lost $100,000 in a week of ownership. Same thing happends if you total it which is a good chance in a rear end happy CGT.

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Market Value for a clean decent mileage CGT in today's market is between $240,000-$270,000. Say you buy this car for $165,000.. You fix it perfectly for the tune of $60,000 (conservative given CGT parts). You are out of pocket $225,000. You drive it for a week, and your car gets stolen. The insurance company wont give you more than 50% of the value of a clean titled car (with a rebuilt title car) so $125,000. You just lost $100,000 in a week of ownership. Same thing happends if you total it which is a good chance in a rear end happy CGT.

 

Hey Mike,

 

Where have you found CGT's for that money? If you have access to them I would love to buy a couple. I cannot find a nice 2005 car for anywhere near that money. Maybe a miley 2004 car, but you will not be able to buy one for that. I will say though that you logic is sound on the rest of it. You will spend at least 100k fixing that car with the un-obtain-ium that they are built with. Then you are into a decent miles, storied up, salvage titled drama queen for almost the price of a nice no stories example.

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Hey Mike,

 

Where have you found CGT's for that money? If you have access to them I would love to buy a couple. I cannot find a nice 2005 car for anywhere near that money. Maybe a miley 2004 car, but you will not be able to buy one for that. I will say though that you logic is sound on the rest of it. You will spend at least 100k fixing that car with the un-obtain-ium that they are built with. Then you are into a decent miles, storied up, salvage titled drama queen for almost the price of a nice no stories example.

 

 

I haven't personally seen any, but I have heard them wholesaling around that mark from other people. IIRC Brandi also mentioned seeing them for $260-$270k in another thread wholesale. Maybe she can help you.

 

Its not worth the headache of owning a salvage car unless it is a track car, and you aren't going to fix it properly with OEM parts. There are enough no storied cars to haggle with these days. :icon_mrgreen:

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Guest SP_LOTTA MURCI
that is Turboalex's old CGT! It was PERFECTIOn when he had it!

 

Yes, you're right again Allan.... Poor Alex almost teared when he saw these pictures.

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Yes, you're right again Allan.... Poor Alex almost teared when he saw these pictures.

 

 

NO WAY! Forget about this car, the parts cost alone + the purchase price will bring you up to the value of a clean title no story CGT. There are cars with under 10k miles in the mid twos right now, why would you play with this one? Check the parts prices and get ready to shit a brick.

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NO WAY! Forget about this car, the parts cost alone + the purchase price will bring you up to the value of a clean title no story CGT. There are cars with under 10k miles in the mid twos right now, why would you play with this one? Check the parts prices and get ready to shit a brick.

 

 

See what I am saying Chris.

 

IIRC Mike also bought one with VERY low miles at the very peak of the market (Black CGT) FOR $300K flat.

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See what I am saying Chris.

 

IIRC Mike also bought one with VERY low miles at the very peak of the market (Black CGT) FOR $300K flat.

 

You are both DEAD wrong. Sorry man, not sure where you guys are getting your information.

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You are both DEAD wrong. Sorry man, not sure where you guys are getting your information.

 

 

Excuse me? I purchased a silver 2800 mile CGT back in the spring of 07 for just under $300k and resold it the Champion Motor Groups wholesale buyer for $320. That's fact. Four months ago a friend purchased another CGT with 13k miles for $270k, once again FACT. When I purchased the silver car back in 07, there was a black/black 7,000 mile that sat for months at $310 with no takers.

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I see a lot of threads about buying salvages lately. Not necessarily here, but in general. People need to ask themselves why they think a car would be salvaged if it could be fixed at a reasonable price. It's because it's too expensive.

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I see a lot of threads about buying salvages lately. Not necessarily here, but in general. People need to ask themselves why they think a car would be salvaged if it could be fixed at a reasonable price. It's because it's too expensive.

 

 

I have personally seen cars in much worse condition fixed.

 

in the us if a car is stolen and then recovered its considered "salvaged", even if no damage was made

 

one reason why I believe there are so many salvaged exotics is because when the owner gets into an accident, its much easier for him to claim the car as wrecked and sell it "as is" on the open market for parts or for someone to repair it. I would personally do this because I would not want my insurance rates to go through the roof after I total a 400k car and now I expect them to pay out at least 50%. I rather sell it as is and cut my losses than deal with an insurance company that will take months if not a year to pay me

 

I also think there are allot of owners out there especially with the high end cars that once the car is involved in any type of wreck, big or small...they automatically dont want anything to do with it. I know a guy who got into a fender bender with his 996TT and sold it immediately because to him the car will never be the same

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I have personally seen cars in much worse condition fixed.

 

in the us if a car is stolen and then recovered its considered "salvaged", even if no damage was made

 

one reason why I believe there are so many salvaged exotics is because when the owner gets into an accident, its much easier for him to claim the car as wrecked and sell it "as is" on the open market for parts or for someone to repair it. I would personally do this because I would not want my insurance rates to go through the roof after I total a 400k car and now I expect them to pay out at least 50%. I rather sell it as is and cut my losses than deal with an insurance company that will take months if not a year to pay me

 

I also think there are allot of owners out there especially with the high end cars that once the car is involved in any type of wreck, big or small...they automatically dont want anything to do with it. I know a guy who got into a fender bender with his 996TT and sold it immediately because to him the car will never be the same

 

I have seen them fixed from worse condition as well, the difference is that a the cost of a minor collision on a CGT, which this one isn't, could be equal to that of nearly totaling a normal car.

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I have seen them fixed from worse condition as well, the difference is that a the cost of a minor collision on a CGT, which this one isn't, could be equal to that of nearly totaling a normal car.

 

yeah thats already been discussed.

 

BUT, if the car has no suspension damage and everything is just cosmetic its not as bad as it seems. The only way this car will be worth it, is if you own your own body shop and can do the labor yourself. Finding a CGT that the owner is parting out will also make the job allot cheaper.

 

To fix this CGT the right way with oem parts will be about 70k-85k at least. if you have your own shop and can do the labor yourself, and if you can track down a crashed cgt that the owner is parting out and can pick up parts from him, you can obviously lower the job to 20k-30k in total

 

now if you can convince these people to accept 140k for the car and you invest 20-30k into it then the project is about $160k-170K witch is significantly lower than any of the story cars that are for sale right now

 

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Body wise, this car isn't bad. Start adding up the cf engine brace up top and possibly the cf rear cradle that makes up the back half of the car behind the firewall, suspension, wheel then don't forget the 18,000 carbon fiber diffuser and I'm sure you'll already be nudging six figures. Then add in the bumper, tail light, etc and this car becomes economically unfeasable to fix.

 

There was one about a month ago that needed a 1/4 panel and small suspension part that went through a salvage auction for $118,000 with 1200 miles, that was a much better deal than this one.

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Excuse me? I purchased a silver 2800 mile CGT back in the spring of 07 for just under $300k and resold it the Champion Motor Groups wholesale buyer for $320. That's fact. Four months ago a friend purchased another CGT with 13k miles for $270k, once again FACT. When I purchased the silver car back in 07, there was a black/black 7,000 mile that sat for months at $310 with no takers.

 

These sellers on ebay listing at $370 for an 05 with 5-7 thousand miles are around $100k shy of their selling points. It would be like listing a 2009 LP640 at MSRP-You might find a retard with stupid money willing to pay MSRP, but 99.999999% of the people out there know what they are worth, and wont pay it.

 

Especially in today's market, when people know they can haggle 10%-25% on cars because people just aren't buying these days.

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These sellers on ebay listing at $370 for an 05 with 5-7 thousand miles are around $100k shy of their selling points. It would be like listing a 2009 LP640 at MSRP-You might find a retard with stupid money willing to pay MSRP, but 99.999999% of the people out there know what they are worth, and wont pay it.

 

Especially in today's market, when people know they can haggle 10%-25% on cars because people just aren't buying these days.

 

:iamwithstupid:

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Excuse me? I purchased a silver 2800 mile CGT back in the spring of 07 for just under $300k and resold it the Champion Motor Groups wholesale buyer for $320. That's fact. Four months ago a friend purchased another CGT with 13k miles for $270k, once again FACT. When I purchased the silver car back in 07, there was a black/black 7,000 mile that sat for months at $310 with no takers.

 

Mike, I am not doubting your '07 pricing, I am talking about TODAY!!! Who was ever talking about 2.5 years ago? I have not found anyone selling the back to the future machine so that I can go and buy cars at 2007 prices. That is a fact!

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