How much does a salvaged title lower the value of a BMW?

Question

I have a 1997 BMW that someone gave me in lieu of payment for a job. We found out it has a salvaged title. The car fax report states the car was in Houston and then in Mississippi prior to coming to WA State. We wonder since the car was in Mississippi, if it fell victim to Hurricane Katrina, and owner claimed it a loss just to get cash. The car is in excellent condition, except it needs a new catalytic converter. By looking, and driving this car you would never know, but because of that brand on the title, I wonder if we have a worthless vehicle.

Answer 1

Problem with that car is the electronics that could have gotten wet. Problems may take a year or more to show up. You can clean up a car and make it look nice but corrosion inside control units is not something you can see until its to late. If your going to take the car as payment and drive it and your not loosing money from cash you put out for their job, why not take a chance. If your going to try and sell it to get you money back then pass.

Answer 2

y worry? it drives good? then GREAT! keep the car, BMW's are sharp! salvage title is cheaper then reg. depends on the car, model..... lol but dont worry, u got a good car, dont worry

Answer 3

In most states you cant even register a vehicle with a salvaged title as far as i know

Answer 4

Well you hope the person was telling the truth.  Flood cars can look perfect detailers can really clean them up.  very very hard to find the water damage without opening computer boxes and such.  Time will tell.  If the car does not fall apart in a a year or two then your in the clear.  As to the value with it being 10 years old don't worry much you will have to find a smart buyer who knows that older cars can get totaled for the smallest issues.  Example I bought a perfect 87 535is at an insurance auction it was totaled because a steel pipe fell on it when it was in the garage and got a small dent.  The paintless dent guy did an excellent job I can't feel or see the dent anymore.

Answer 5

you can register a car with salvaged title in some states. but you should have a bmw dealer look at your car to make sure it was never caught in a flood in any way. if it was given too you and you can afford the repairs it may end up needing then keep it and have fun driving it.