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Discussion Starter #1
I am looking at purchasing a 2003 Cobra with 14,000. The car was in an accident shortly after it was purchased in 2003 and totaled by the insurance company. The car was fixed and sold with a rebuilt title to the current owner, and he has owned the car for over 11 years. He is very knowledgable about the car, and has told me everything that he knows about the car. He is an older gentleman and he has been very upfront about any issues with the car.


I offered a little over $16K for the vehicle. Do you think I am paying too much?
 

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Anything with a rebuilt title ( salvage) has a diminished value. I would stay clear of the car especially if you want to sell it down the road. There are plenty of good cars out there and would look further.
 

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First, see if you can insure the car with a rebuilt title. Second, I dont care what the seller says, have the car inspected top to bottom. Third, the car is worth anywhere from 30-60% of what a clean title car is. Fourth, you will have a tough time reselling the car with a rebuilt title.

Unless you can absolutely steal the car and do steps #1 and #2 , I wouldn't even consider it. Once you own it, it is your problem.
 

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For what purpose are you buying the car? I wouldn't even consider it if long term/investment/hopes of retaining value. However, if you are going to buy it and drive it or race it, I would probably be willing to pay in the $12-14k range depending on color. IMO, $16k is too much but it seems to be a sellers market.

If you know of any clean dsg coupes, feel free to let me know!
 

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Discussion Starter #6
I am buying it to drive it, and have a car that is fun to drive. I am not going to race it or mod it. I understand that this isn't an investment by any means. I was able to renegotiate the price, and I am not paying $16K for the car. I plan on holding onto the car for a while, because I won't come across another car like this for the price, even with a rebuilt title.

I called the insurance company, and I was able to get an "Agreed" value you policy that would cover me in the event of a total loss.
 

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I am buying it to drive it, and have a car that is fun to drive. I am not going to race it or mod it. I understand that this isn't an investment by any means. I was able to renegotiate the price, and I am not paying $16K for the car. I plan on holding onto the car for a while, because I won't come across another car like this for the price, even with a rebuilt title.

I called the insurance company, and I was able to get an "Agreed" value you policy that would cover me in the event of a total loss.
Well played. Enjoy. :salute:
 
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