methodtim said:This is a silly question but I'll ask it anyways. Why would anyone want to spend (the assumed amount of) $16K for a wrecked car. Yes, a lot of it is new, and yes, it is an RTL, but I just don't see the point of spending that much money on a wreck, and then repairing it (which I assume would cost another 5-10K based on the damage I saw). I just don't get it... maybe someone can enlighten me.
That's still $23K at a minimum, and now you have a car that's been in one hell of a wreck. Not to disparage your friend, but anyone who does that and resells the car without first telling the new owner that it's been in a total wreck is disingenuous to me.shingles said:Because say you get this thing for $15k, and it costs 8k to fix(probably less if you have access to cheap labor), you will have a low mile RTL with S/R and navi for <= $23k.
There are a lot of people out there that do this. A guy I used to work with goes out to auctions and buy wrecked BMW's all the time, fixes them up, drive them or sell them.
Yeah, sorry, didn't mean to assume anything, but I guess I didn't convey that properly in my post. As for your point on getting a car someone wouldn't otherwise be able to afford, let's do some math here. Let's assume (yikes, there I go again, but oh well) for the sake of argument, that the bidding on this RL will end at 16K. Let's also assume that it will cost 8K to fix the thing once you buy it. That's 24K for the wrecked TRL that retails for around 30K. My question is that who would put that much money into this purchase when buying a new one outright would only cost 6K more?shingles said:I never said that he didn't disclose the fact that they've been wrecked. You assumed it. He has access to a body shop which does work for him cheaply. He fixes the car, sales it as a car that's been repaired, makes a small profit.
Some people don't really car that a car's been in a wreck. They get a car that they would other wise not be able to afford.