- November 25, 2023
- Posted by: legaleseblogger
- Category: Related News
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AI Legalese Decoder can help you interpret and understand the implications of purchasing a vehicle with a reconstructed title and door damage for below market value.
Heading: Analysis of Purchasing a Used Vehicle with Reconstructed Title and Door Damage
The vehicle in question is a 2022 Acura ILX Premium Package with 21,000 miles, offered at $8k due to door damage and a reconstructed title. The carfax report indicates no structural or mechanical damage. However, the driver side door is crumpled from a car crash. Despite this, the rest of the car is in excellent condition. The estimated cost of repairs, including towing and obtaining a clean title, is approximately $2k.
Considering the new price of the equivalent model, which exceeds $28k, it appears to be a significant discount. However, the buyer must also take into account any additional fees imposed by the dealer.
At the moment, the buyer has $17k saved in the bank for emergencies and aims to purchase a vehicle outright to avoid monthly costs, except for a maximum of $350 in financing per month.
The question arises as to whether it is worthwhile to invest in repairing the car for approximately $10k and have a great vehicle, or if the potential risks associated with purchasing a used car warrant the exploration of newer options.
AI Legalese Decoder can examine the legalities and potential risks associated with purchasing a vehicle with a reconstructed title. It can provide insights on the value of the vehicle, potential hidden risks, and whether the investment in repairs aligns with the buyer’s financial goals. Additionally, it can offer guidance on exploring new car options while considering the buyer’s budget and preferences.
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****** just grabbed a
>2022 Acura ILX Premium Package with 21,000 miles for $8k because of door damage and has a reconstructed title
No way that adds up. Either it doesn’t have a title, it has major frame damage that was hidden, or some other kind of fraud is happening here
EDIT: want to say IÔÇÖm not against a salvage/rebuilt title in all situations. Generally thatÔÇÖs gonna be a cheap cash car, inspected by a mechanic, at a reasonable discount considering its history.
Pro tip, google the VIN of a prev salvage car and you can often find the photos from its salvage auction
Read it out loud. 2022 Acura ILX for 8k and in great condition donÔÇÖt belong in one sentence. Take the vin and send it over to a couple of insurance companies, see what they have to say.
Look for 0 or 1.9 APR deals . Mazda has some.
If the vehicle has a reconstructed/salvage title, it means that there is major damage. Modern cars are designed to divert the energy of a crash away from the occupants and into the structure of the vehicle. It is not just the door that took the hit, but the entire car.
Insurance has already deemed that the cost to fix the vehicle back to as close to fully structural integrity is far more than the vehicle is worth, roughly 22-25K per KBB, so your 2K repair is orders of magnitude off.
Auto insurance, specifically for Hyundais, is also running real high right now. Get quotes to get a full sense of monthly impact…with a new car you’ll want alot of coverage.
I would try to not buy a car that was in a major accident (salvaged title).Not to say it can’t work out, but it seems most vehicles just never drive right again after a collision like this. There’s a reason a $30k – $50k Acura is priced at $8k.
There are enough well maintained used cars out there that have never been wrecked. It’s been said already, “if it’s too good to be true…”
You could spend $4K on a Honda/Toyota sedan thatÔÇÖs 10-20 years old, spend $6K getting everything sorted, and have a car that will last another 100K without bothering you. No long-term payments or interest. They arenÔÇÖt sexy, but they will get you from A-B, every time.
IMO Recovered title = no air bags, and I donÔÇÖt want it.
Airbags are often the most expensive part of the fix. The plastic covers are available on any junk yard for a few bucks. The airbags not so much.
I highly doubt itÔÇÖs just 2k in damages. Otherwise they could fix it and sell for a much higher price.
That used car sounds too good to be true. Not worth the risk of some unknown damage coming to light imo.
Im selling a 2014 Nissan Altima with 140k for 5k… Houston area. That Acura deal is definitely a scam
I worked in the automotive industry for 6 years, something to keep in mind is a carfax report is not that reliable these days. For starts they only disclose accident/damage that has been reported. If a police report or insurance claim is never filed carfax likely isnÔÇÖt going to know about it, not everything is reported to them, and as of last year when I left the automotive industry they had about a two year backlog, meaning not all reports were up to date.
A state wouldnÔÇÖt issue a rebuilt or salvage title for no reason the vehicle would have had to have some sort of structural damage to receive a branded title. At least where I am from fixing a door panel isnÔÇÖt going to remove that branded mark on the title as the damage as already been done, thereÔÇÖs usually no getting a ÔÇ£cleanÔÇØ title after that. Also note cars with salvage/rebuilt titles canÔÇÖt hold full coverage insurance youÔÇÖre usually limited to liability only.
IMO thereÔÇÖs likely a lot more wrong with the vehicle than your being led to believe.
A quick [Cars.com](https://Cars.com) search shows that model selling for $22k – $30K on average. If the seller is only asking for $8k, there is no way that major structural/frame damage was done. Can you by the car with your current savings? Sure!
But you can also expect to run into multiple major issues that will cost you $10K or more to address! Lost use of the vehicle while fixing the multiple problems. And then think about insurance. Insuring a vehicle that was declared a total loss previously (salvage title) will be more expensive than a vehicle with a clean title!
>Is it worth it to go through the hassle of getting the car fixed and road ready for ~$10k and have a great car or because of the dangers of used cars should I try to look for a new vehicle?
You aren’t dealing with the dangers of a used vehicle, you are facing the danger of getting scammed. With the inflation of vehicle prices, more scams are happening with salvage/reconstructed vehicles. have you mechanic (that will be doing the repairs) look at it and quote the work before you buy. At $8k, it may be worth doing some frame work, but I would not budget having that car for $10K.
The most important thing here is YOUR OPTIONS ARE NOT THIS SALVAGE OR A NEW CAR.
What is wrong with your current car? Fixing it may be a better option, if for no other reason than to give you time to find your next car. The worst time to shop for a car is when you need one.
Also, $17K should be enough to get you a good used car, but even the $10K price can get you something that is reliable.
As a household with two Hyundais…
I wouldn’t take another Hyundai for free.
0% APR is basically a free loan. DonÔÇÖt pay cash. Take the free loan if you can afford payments. Invest that in a HYSA at 5% and earn some interest.
Reconstructed title = Move Far Away Unless You’re A Mechanic.
Even then, I’d steer far away from it. 2k in repairs can easily turn into 4k. Also, the $600 a month new car option seems like a bad move too. Try looking for a used Toyota Camry for $11 with 0 work needed other than a bit of cleaning.
Don’t buy a crashed car. There will be more things damaged from that crash that just haven’t revealed themselves yet.
find a low mileage toyota or honda <100k tbh, if you want to splurge the brand, volvo. Goodluck
not sure the exact story on this car, may be worth looking for another option, but my opinion on beater cars is that if you can buy it 3x, itÔÇÖs worth it. If you do reasonable diligence and thereÔÇÖs a decent chance you get a good, safe, life out of the car-itÔÇÖs worth the gamble that you save money long term. If youÔÇÖre scrounging around to even afford a beater, you canÔÇÖt afford to have a beater because you canÔÇÖt handle it breaking down.
you can’t just take a salvage/rebuilt title and “clean it up at the dmv”. it’ll be brandished for life unfortunately. that’s why it was so cheap.
Both horrible ideas. The fact is you cant afford a 2020s car. Sorry thats just how it is. Theres no shame in it. Spend your money on some early 2010’s car thats made by toyota for 5 to 8k.
The used car is a scam and hyundais are pieces of shit and youre going to financially tie yourself to a rapidly depreciating anchor for most of the next decade.
IÔÇÖd go with the new Hyundai. IÔÇÖve had good experiences with my 2023 Elantra and not had any horrible insurance hikes.
To the people recommending Toyota, their brand is going downhill pretty fast. They were just caught doing scummy things with add ons and had to payout money to customers after ruining their credit by claiming they didnÔÇÖt make payments that they did. I wouldnÔÇÖt go with them
Neither. Hyundais are not reliable and definitely not worth $600/mo.
For $8k cash you can get a decent 10 year old sedan from a private seller (Craigslist, FB Marketplace, Cars.com, etc.)
Do not buy a Hyundai because you may not be able to get it insured
More likely, there was structural damage. Did you see the carfax report?
AVOID HYUNDAI.
They will not support you if something goes wrong. Their customer support is atrocious.
Walk away from rebuild title. I would try to push you towards a used car though. If you have to have a new car, lease one. You might find some neat years end deals
One thing to keep in mind for a Kia/Hyundai is the insurance cost. Make sure you check that before you buy a new car. I remembering seeing another post where they bought a new Hyundai and their insurance wanted 6k+ a year because of a supposed tik tok trend where you can easily steal them.
I’m a fan of Hyundai IF (and it’s a big if) you don’t live in a high car theft area. I don’t and mine’s just fine. Great warranty, too. They’re good quality cars for the price.
As others said, check with your insurance first. Mine was not impacted by getting that type of car. But then again, I don’t live in an area with many car thefts.
Both vehicles are bad choices. Get a Toyota Corolla or Honda Civic.
A new Corolla Hybrid for $26k is hard to beat, 50+ MPG, AWD if you want, and essentially zero maintenance beyond oil changes and tires for 15 years is pretty awesome.
Don’t get a Hyundai. No one will insure them right now and if they do it will be really expensive.
Be aware that a lot of insurance companies wonÔÇÖt insure a vehicle with a salvage title.
Check Hyundai insurance before buying. They have been in the news a lot along with Kia causing rates to spike.
I’d buy a base model.Civic or Corolla if you’re going new.
Regardless of what everyone has said about Hyundai already, the peace of mind that comes with owning a new car is practically worth taking on the car payment if your standard of living can support it.