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post #1 of (permalink) Old 05-02-2007, 10:15 AM Thread Starter
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OT Buying a wrecked tow rig and fixing?

My blue truck is getting tired, I'm thinking it's time for a newer truck towards the end of the summer. Anyone ever but a wrecked truck and fix it? Any good placed to look for re-buildables? How do you deal with titles? Any other experiances? Is this a crack head idea?
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post #2 of (permalink) Old 05-02-2007, 11:06 AM
 
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Originally Posted by barrelroll View Post
My blue truck is getting tired, I'm thinking it's time for a newer truck towards the end of the summer. Anyone ever but a wrecked truck and fix it? Any good placed to look for re-buildables? How do you deal with titles? Any other experiances? Is this a crack head idea?
I think it can be a good idea under certain circumstances.

Two of my neighbors have purchased wrecked 06 F-350 /F-250 Diesel powered from a Las Vegas auction house. After rebuilding they each have about $20 - 25,000.00 into them, ( they did most if not all the repairs themselves) thats pretty cheap for a virtually new truck.

The draw back, at least in Utah, is the trucks have a salvaged title which will hurt the resale of them, your state may be different though. If you plan on keeping the truck for a long time then I think its a great way to save some serious cash.

I would also caution about having the frame looked at very carefully.
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post #3 of (permalink) Old 05-02-2007, 09:19 PM
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It's a great way to go as long as you don't plan on getting good resale down the road because of a salvage title. I know every state is different and some states don't allow rebuilders. Here in MO. after you get it done you have to take it to the Highway Patrol and they do an ispection and have to see all of your reciepts for all the parts purchased so they know you didn't still another one to take the parts from!!!! They are supposed to be rebuilt back to factory standards which realy makes bad for building a custom rod.

You need to really look at what your planning on buying. I have found that the theft recoveries are usually the best way to go because it's usually enterior and roughed up sheet metal to deal with. When you find what you want look it over and talk to some body shops, it will more than likely have to be put on a frame machine and look for torn frame rails not that you can't handle patching them up but like I said, here in MO. the highpo inspects it so you want to make sure it's to the states requirements...
Ive done a couple for the wifes rural mail delivery and they turned out to be great vehicles considering a rural mail route will run a vehicle to the ground. My dad had a body shop for several years and I helped do a few and my cousin is still doing them and making a pretty good profit on them, even with a salvage title!!!
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post #4 of (permalink) Old 05-02-2007, 09:37 PM Thread Starter
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It's good to know about the resale though I usually drive stuff into the ground and it isn't something I think about. The current truck has been on it's side, has a door that's 1 of the 2 colors, and has some 160k on it. If i get a grand for it i'll be doing really well. I might just buy a complete truck, i don't really want a project but saving a couple grand might be worth it.
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post #5 of (permalink) Old 05-02-2007, 09:49 PM
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In Washington State, insurance companies will not pay twice for a totaled rig. In other words, once a title is branded, they never pay again even if the rig has been returned to like new condition. Funny how they seam to control what they will pay and when!

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post #6 of (permalink) Old 05-02-2007, 11:36 PM
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IMO, you can find some nice (read: not brand new, but not a complete POS either) rigs out there, without a $500/month hanging over your head.

I picked up my current '93 D350 Xcab CTD for $3500 and will have another $500 in it once the fluids/filter swaps are done, the gauges installed, and the SS simulators go on. Twice the power of the Ford and triple the comfort!

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post #7 of (permalink) Old 05-03-2007, 06:46 AM
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I have some experence in this area. Most of the autos I have owned have been salvage. There are a few things you need to know going in to it. The first is that you can not expect to sell the car/ truck/ jeep, down the road. Once a title is salvage you can pretty much consider the car/truck/ just a collection of parts. But if you plan to drive it into the ground (that is generally what I do) then you are fine.
The other thing to know is that most banks will not give you an auto loan for a salvage rig. You will need to get a "personal" loan, and usally the interest is a bit higher. This is usally not a concern of mine because I havn't taken out huge amounts of money.
One thing I didn't know was that once you have paid off a salvage, and once it is totally fixed, you still can't use it as collateral for a second loan.
My somewhat finished project YJ I got as a salvage. I took it down to frame and tub and totally rebuilt the whole thing. I have probably $15K in it and it is now a safe legal vehical. Doesn't matter to the bank. I tried to use it as collateral for a loan to get a DD, and they wouldn't take it. That was kind of a bummer.
All and all, I am a fan of the salvage thing. It's a good way to save some money if you have the know how to bring a rig back from the dead. Just as long as you know what you are getting into. Make sure what ever you buy, has a vin tag, and a title. (sometimes you see a recovered theft come through with a damaged or missing vin tag..... Don't go there)
Good luck with the new truck.

Once apon a time I played with legos... Now I have a Jeep
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post #8 of (permalink) Old 05-03-2007, 07:17 AM
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IMHO, in today's world where bodies don't rot out in 10 years, an older truck, 5-10 years old, or more, with perhaps higher miles is the way to go. Get it cheap, drive it, fix it mechanically, and have a clean title. What's a new tranny rebuild, $1200? Drop in a new long block in a weekend if you need to, etc. Not worth the hassle of checking the frame for cracks, rebuilding, etc.

I picked up my 98 4WD Suburban a few years back, 140,000 miles, driven by a soccer mom. I love this thing. Tow package, 3.73s, 3rd seat, leather, heated seats and mirrors, etc., etc. Great for camping in it too.

Picked it up for a song when gas prices went sick. Buy it, and drive it today. Not spend 3 months of my time getting it driveable.

Just my $0.02.
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post #9 of (permalink) Old 05-03-2007, 08:42 AM Thread Starter
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What ever I get i'm paying cash for so no wories about loans, I don't ever want to finance a truck. It's gota be 4wd and I'm pretty sure I can't live without a truck, If I had a burb it would reak of gear lube and the interior would be trashed. I'm probably going to have to travel to get a truck, around here stuff rusts out, is beat, and holds it's value.

The biggest pain in the rear with my older truck is when it does break and I need it, I've been able to get by without it, I can walk to classes/ catch rides with budies. Next year I get a real job and the reality of a 50 mile a day comute is pretty good so having something reliable will be nice. I also don't have cash on hand all the time and don't have plastic to "float" my expenses and I don't plan on having plastic.

We'll see how much $$ I make this summer, that will dictate which direction I go for a truck.
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post #10 of (permalink) Old 05-03-2007, 09:32 AM
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Not sure what you want to spend but I bought my 99 psd for 12000, it is the nicest truck I have ever sat in. I had to do the balljoints in about 6 months, but the price was right.

I have seen several rebuilds. If gotten under the right circumstances they can have the orignal title with no mention of salvage. My jeep was a rebuild and has a clear title. if you look closely you can see where they pulled on the frame.

Ya only go around once, best to enjoy it the first trip.
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