[EM240]

Edit: Thanks for the responses. Looks like it’s nearly unanimous a part out is too much of a hassle for the salvage price.

[mrcheezle19]

Does not sound worth it to me. No sense in spending 16K up front to hopefully recoup a portion of that money over a year or longer. Just take the insurance check and buy something to make the pain go away.

[CalAcacian]

Gutted for you man, that's awful to see. But I agree with Cheezle, it's not worth it. Take that insurance check and move on from this one.

[DanG]

I am actually surprised that it was totaled. I would get a reputable body shop give you a repair estimate. Then you can decide whether to repair or walk away. I would not buy it for parts.

[Dasnub]

No way I’d keep it.

[Poochie]

Trust me, the only way a salvaged titled vehicle might work in your favor is if you have connections with a bodyshop to have them do the repairs, at a reduced cost.

Plus, more than likely, to re-register this vehicle, you have to go through a rigorous state salvage vehicle examination, which requires receipt for new air bags, seatbelt reels, safety equipments, ect, which just adds to the overall restoration cost.

TL : DR : Unless you have some hook-ups, take the full settlement and bail.

[detroitm2]

That sucks. But.. You could buy it and turn it into a track car

[VisualEcho]

I would totally offer them $10K for the car and use it for parts.

[Al Bundy's Dodge]

Oh man, so sorry to hear you are dealing with this. I'd be devastated if this happened to me.

Agree with earlier post though, I would just take the check and start over.

Can you remove some of the parts and replace with original stock parts...assuming you kept them?

[OG///M]

Originally Posted by EM240

Knowing this, do you think those parts alone justify buying it salvage for a part-out? Assuming it's logistically impossible for me to part out, any thoughts on whether it's common for shops/people to buy cars like this to do a part out themselves if I sold for small profit (given that my insurance company much to my dismay isn't really adding any value to my options right now)?

At 16k it won't be worth it unless the plan is to turn it into a track car with a roll cage.
The structural damage won't make it feasible for repair and parting out will probably barely make back that 16k plus labor.

Out of curiosity, what's the insurance payout to you for the car being totaled?

[mr_lab_rat]

If you can bring the cost down closer to 10k then it might be worth it. Would they allow you to strip at least few accessories like the winglets?

If you had a garage you could quite easily come out ahead by waiting for the right buyer.

[EM240]

Originally Posted by Al Bundy's Dodge

Oh man, so sorry to hear you are dealing with this. I'd be devastated if this happened to me.

Agree with earlier post though, I would just take the check and start over.

Can you remove some of the parts and replace with original stock parts...assuming you kept them?

Unfortunately most of the options were port installed upon purchase as new so I don’t have much stock stuff, which is a bummer to send it to the junkyard with all those good options

[EM240]

Originally Posted by mr_lab_rat

If you can bring the cost down closer to 10k then it might be worth it. Would they allow you to strip at least few accessories like the winglets?

If you had a garage you could quite easily come out ahead by waiting for the right buyer.

I’m really missing my garage from my last place since I moved ....but I am especially missing the lack of the garage for this situation. The options will probably stay unless the insurer tells me they don’t care about them in the evaluation in which case I would ask to strip them.

[mr_lab_rat]

Originally Posted by EM240

I’m really missing my garage from my last place since I moved ....but I am especially missing the lack of the garage for this situation. The options will probably stay unless the insurer tells me they don’t care about them in the evaluation in which case I would ask to strip them.

That could be negotiation point - take low to mid 40k and strip MPE and all the CF MP goodies. That ads up to at least 5k saved and can be transferred directly to the replacement car unless you decide to go with M2C.

[2M]

Dont even look bad , parts are same exact as F22 and they could be found for cheap at the salvage yard, sounds like they just wanted total it out not to deal w it, i'd buy back and fix it

[BigKutta]

Originally Posted by Poochie

Trust me, the only way a salvaged titled vehicle might work in your favor is if you have connections with a bodyshop to have them do the repairs, at a reduced cost.

Plus, more than likely, to re-register this vehicle, you have to go through a rigorous state salvage vehicle examination, which requires receipt for new air bags, seatbelt reels, safety equipments, ect, which just adds to the overall restoration cost.

TL : DR : Unless you have some hook-ups, take the full settlement and bail.

I was going to say exactly this. Only buy it if you can get it repaired and back on the road on a salvage title, because you want to own it forever. In MD, this is easily done as a friend of mine just did the same to an acura. took the payout check (totaled), got the car repaired from a cheap body shop, and registered as salvage title. No issues.

So if you can negotiate a good price, and know a shop that will fix it, and your state has ok laws about salvage, then do it. Otherwise take your check and buy an M2C

[DETRoadster]

So let's say you spend $16k to buy the car and another $14k on repairs. Now you're into it $30k and you're stuck with it. What do you think resale value will be on a previously totaled M2 with a salvage title? Probably less than that $30k you'll have into it. So you're upside down from day 1 with a car no on will ever take off your hands. I think you part ways and move on.

[EM240]

Originally Posted by DETRoadster

So let's say you spend $16k to buy the car and another $14k on repairs. Now you're into it $30k and you're stuck with it. What do you think resale value will be on a previously totaled M2 with a salvage title? Probably less than that $30k you'll have into it. So you're upside down from day 1 with a car no on will ever take off your hands. I think you part ways and move on.

I think you’re spot on. I can’t find anything on salvage M2 prices and I think that speaks volumes in and of itself

[VisualEcho]

If you can buy the car for $10K, and buy another OG M2 you can sell all the expensive bits and make another what, $5K back, then have $5K in a car with a LOT of misc parts as your car gets older. You're talking about brakes/wheels/tires/hubs/suspension/gauge cluster/trans/engine, I mean, to a person that wants to keep a car a long time, all that stuff is gold, and easily worth $5K.

[bimmer98]

Might be overthinking this. We all love our cars like people, but they are metal and replaceable. I don't see any way you come out ahead in financial terms buying this salvage. The headache alone dealing with public calls and questions on parts that waste your time would be pretty frustrating.... not to mention the logistics.

What you are really questioning is starting a junkyard at your condo. Might be a good idea in theory with best case price scenarios, but i definitely wouldn't do it. Stick to what your good at, driving!!

[bimmer98]

Also, sorry about your car. Sucks either way.... except maybe now you get a new one:-)

[Twt]

Usually the insurance company will let you pull your parts and still pay you book value....it’s a little more effort but you can sell them to cover some of your your depreciation. A friend of mine totaled his M2 and he put crap wheels on it and kept the factory ones and it did not effect the pay out.