Is buying a 2001 Buick Regal a good or bad idea, with a prior salvage title for around $900? It has 144K, cracked windshield, runs/looks/drives good. It’s at a public car auction, and I’d be buying it to resell with little additional investment other than clean-up and maybe window replacement.
Nobody Can Answer This Until You Have A Buyer Who Pays More Than You You Have Into It. Feeling Lucky ?
CSA
Have you done this before? Different states have different laws regarding registration of salvaged vehicles. If you were able to register it and drive it yourself, replace the windshield yourself, and it is in otherwise excellent condition, $900 still sounds like a lot of money for a salvaged car.
I don’t see much profit to be made here.
The salvage title speaks for itself. I would skip this one.
“Different states have different laws regarding registration of salvaged vehicles.”
States also regulate who can buy certain cars at auction. Before you show up and plunk down a grand to enter the gate, I suggest that you make sure you understand the laws regarding who can buy these cars and whether you need to be a registered dealer to sell it. You may know all this already. BTW, this car in average condition would sell for about $1100 by a private party or $1800 by a dealer. That doesn’t give you much room for a profit.
You did not state if you’re licensed or not but if you’re getting into the reselling of cars without a license you should be aware that this falls under the curbstoner category.
For the price of the car and the windshield I’d go for it as a personal driver. To make a buck on it may be iffy unless you just happen to get the right buyer. Many potential buyers will see that salvage brand on the title and will get scared off even if the car is actually fine.
The problem with this … Going to a car auction with out any knowledge of cars. Car auctions, public or dealer you need to know a lot about cars. If you have to ask, you don’t belong there. If it is a dealer auction and you are there as a unknown they will bid the car up on you. Dealer auctions are for dealers only. When I had a dealer license and I went to a dealer auction that I was not known at, I would go with someone who was. Public auctions are were we took cars that like this 2001 Buick so the fools would bid them up and we would get more for them. Oh and don’t forget the fee’s for buying and selling at the auction.
you mite try this auction
http://gsaauctions.gov/gsaauctions/gsaauctions/