Value of 2005 Outback with Salvage Title

[craigmcd]

Hi All, 

I have had this 2005 Outback 3.0 R  VDC, for about 9 years and it has all the high-end features of 2005. It is well maintained and runs really well. Gets good consistent gas mileage, and there are no significant leaks. It has a very nice (expensive) set of seat covers in the front, and the tranny valve body is about 8 months old and working great. The tires are in good+ condition and everything works. It has about 205,000 The only known issue is a bent wheel on the rear, which balances, but was noticeable when mounted to the front of the car. I have not been able to find a replacement.

In 2018 a tall truck backed into the Subi in a parking lot, damaging a) the left front fender and b) the transmission filter and bracket under that fender. The hood, head light, bumper and wheel well trim are a little scuffed, but undamaged - as shown.  I bought a new fender and painted it inside and out with an exact match color. On a nice March day I removed the old fender and put on the new one, while installing new filter parts. Pretty easy repair, no residual problems.

Despite the minimal damage, the insurance company totaled the car, and we bought it back from them - so it has a salvage title. We are looking to sell the car and I was wondering about how much I need to reduce the price because of the salvage title. The new buyer can certainly register it, and it will pass all inspections (part of getting the salvage title in the first place) - but they won’t be able to buy collision insurance.

Normal pricing in MD for this H6 car is $3700 to $6300.  I averaged out the price on eight higher mileage comparables (XT Limited and LL Bean) and that is $5077. My car has higher mileage than all but one. The KBB suggests a mid price from a private sale at $4315, but from a dealer at $5250.

Anybody want to suggest a fair price for this great running car ? (Or the amount to reduce for the salvage title). 

Thanks, Craig

 

[lmdew]

- $2000 for a salvage title.  Depends on the market in your area.  It's nice you know the details.  If you have pics of the damage post those as well.

[craigmcd]

Thanks Imdew - here is the photo you asked for.  Are you saying LESS $2000 from what ever sale price I come up with ?  Not that much damage for totalling the car.

BTW - I was born in C Springs, and grew up there. Seen a lot of changes since the early '60s.

Craig

[lmdew]

Yes, that pic will help.  It depends on the buyer.  If they are going to keep it a long time, the salvage title may not be a big deal to them.  If they plan on selling it a year down the road, the title status is big.  $1000 - $2000 off the market price with the salvage title.  You might do better.  Never hurts to ask.  If no one is knocking on your door you will know the price is too high.

[idosubaru]

In northeast terms its ancient, 2005-2009s are dated, and it’s high mileage - you barely need to adjust the price at all.  unless you’re trying to sell it fast or get high dollar for it. 

1. Disclose the work done, be up front, you’ve got proof it was minor.

2. 40 percent of buyers won’t want a salvage title. 

3. 60 percent won’t care on a car in that price/age/mileage.  

I’m making the numbers up but the illustration is the same: On a car this old/high miles with minor damage - it’ll  loose a few buyers more than reduce price. 

It probably shouldn’t be priced on the high end. look at comparable local vehicles listed and see where your price falls, the closer yours is to the cheapest of comps the more likely it is to sell.  

 

Edited October 28, 2019 by idosubaru

[idosubaru]

I missed the wheel issue. That might be more of an issue than the title.  It often doesn’t leave a buyer feeling awesome about a car when the seller can fix cars but doesn’t fix what they claim is a simple diagnosis.  

What if it’s something else? What if they tried 2 times and this is their third guess? 

[craigmcd]

Ido - that is about how I feel about things. This is a good first car, something that will last a long time but if it gets hit - not the end of the world. Maybe a good car for a college student, just have a decent little car for a couple of years. I think being on the low end of the comps is in the right place, probably about $3500. We have been paid for this car once (but I do have money into it as well), so I don't need to make a killing. We mostly want a decent down payment on the next Outback. I have fixed three different water leaks into this car, so seeing it go won't kill me. I will say, it is a better more fun driving car then our 2012 Outback. Thanks for the input.

[idosubaru]

Not sure if yours are silver or gun metal but These guys in Gettysburg’s have a bunch of silver wheels for $75.  

[craigmcd]

3 minutes ago, idosubaru said:

I missed the wheel issue. That might be more of an issue than the title.  It often doesn’t leave a buyer feeling awesome about a car when the seller can fix cars but doesn’t fix what they claim is a simple diagnosis.  

What if it’s something else? What if they tried 2 times and this is their third guess?  

I am sure about the wheel issue. I mounted and balanced them myself, and felt the shimmy in the front. That completely went away when the tire was moved to the rear. It messes up the rotation. I have tried to get a rim, but no luck within a reasonable distance. I could see the bent rim when spinning on the balance machine. I will disclose it, but nothing more. The buyer will get a multipage printout of everything done to the car in 9 years, nothing to hide.

[craigmcd]

4 minutes ago, idosubaru said:

Not sure if yours are silver or gun metal but These guys in Gettysburg’s have a bunch of silver wheels for $75.  

Gettysburg is doable for us. Do have a name of a particular salvage yard ?  I have been as far as Westminster for parts, which is about 3/4 of the way to Gettysburg. Let me know the yard. Thx

[lmdew]

www.car-part.com

[idosubaru]

That’s where I’m from, you probably went to Condons?

717-637-1990  hartlaubs auto something.

Grab lunch in the basement of the Dobbin House in Gettysburg. That will make the trip worth it.  The lower level in the dark basement is kept and operated like the 1700s when the house was built.  Tight, wood, simple, Candles and all.  lots of history and stories and bullet holes from the battle of Gettysburg which happened in the back yard. I get the French onion soup, they layer insanely thick cheese on top  

Hartlaubs has silver I think. Remember there’s quite a few wheel variations in 2005 so make sure it’s the right one.  There’s silver and gun metal gray, very similar.  Use that link lmdew posted above, you might find a place closer. 

Edited October 28, 2019 by idosubaru

[craigmcd]

Yes, I bought a sunroof assembly from Condon for this car last spring, mostly for the good seals around the glass. That went well (though I still parked it in the garage during Sunday’s drenching storm). Cleaning the sunroof drain tubes was a pretty major project which I never want to do again. 

I will check out those contacts and try again for the wheel. I am certainly willing to pay the money and fix the problem. I have a printout from the manual showing the four styles which came out that year, and can send a photo of my wheel to them in advance. Mine is variant #4, and I would call it more silver (but not chrome or shiny).

My wife and I are from Colorado, and have been to many places in the region, but not Gettysburg yet. I wrote down your restuarant recommendation and will certainly visit there for lunch or dinner. Many thanks.   C

PS: duhhh - the wheels are shown in the photo above. ha

Edited October 28, 2019 by craigmcd

[201motels]

On 10/27/2019 at 6:54 PM, idosubaru said:

40 percent of buyers won’t want a salvage title. 

I know you said you're making numbers up but to me 40% is wishful thinking. From my experience it's more like 70-80%. I've rebuilt 140 or so of my own cars over the years and found that the only way to sell a rebuilt title car is if its really cheap, wasn't involved in a major accident causing frame damage or airbag deployment, and most important a car that a lot of people want to own.

 

To the OP. Considering the description of the car and your location I would be happy with anything over $2800

[mdconvert]

I recently bought 4 wheels from Hartlaub's. Fair price, good quality, and no BS. All around good experience.

[craigmcd]

I have a feeler out to Paradise Auto in Elkton for a wheel. They are supposed to call me this morning to confirm. It is $86, but also much closer to home. The car-part.com web site was very helpful - good resource to know.  I did see that Hartlaubs should have some wheels as well.  Thanks. C

[idosubaru]

20 hours ago, 201motels said:

I know you said you're making numbers up but to me 40% is wishful thinking. From my experience it's more like 70-80%. I've rebuilt 140 or so of my own cars over the years and found that the only way to sell a rebuilt title car is if its really cheap, wasn't involved in a major accident causing frame damage or airbag deployment, and most important a car that a lot of people want to own.

 

To the OP. Considering the description of the car and your location I would be happy with anything over $2800

$3,500 and $2,800 isn’t a huge difference, well within a range, or margin of error for willingness, length of time listed, time of year, etc.  

Numbers are made up, though one difference may be i only do Subarus? All the totaled/rebuilds I’ve done are Subaru’s the same or one generation older or newer than this one. And most have been in the last 8 years with similar market dynamics. 

I think 20 years ago rebuilds had a worse prognosis. And currently the higher the price the more it shifts out of the favor of rebuilds. Older $2k subarus are all a wash.  $5k and under not much difference.  $10k+ is think you start seeing obvious changes.  

His is exactly what you said:  simple, easy,  no unibody (Subaru’s don’t have frames) damage.

Percentages don’t much matter, the MD market volume is high and I’d think likely to support a $3,500 price tag if he isn’t in a rush which seems to be the case. Particularly with winter and tax season coming. There’s 10’s of thousands of people who have already bought a car in their mind in the coming months - fish in a barrel. 

people buying my cars tend to spend more as I do the brakes and timing gear before a sell. I often sell to the first person that looks and almost zero negotiating. I do things differently, so my perception may be a little off. 

Edited October 30, 2019 by idosubaru

[craigmcd]

Good points Ido.  I am not in a big hurry, and can start a little high. People do like the feeling of negotiating on a used car and getting a ‘deal’. I actually hate to sell this car. Afterward we will buy a 2016-2017 Outback for my wife, and I will inherit her current driver, a 2012 Outback H6. I very much prefer driving the 2005 - it feels more sporty and responsive, with better visibility. 

We anticipate moving to Delaware in the coming months, and don’t want to pay tax on the next car in BOTH states. So I might wait awhile yet, not sure on that. I am trying to find a wheel again, and will get that taken care of.

I will say, I never buy and sell for sport. I am not very good at that. We typically keep a car for 6 to 10 years. I have a 1995 Chevy conversion van which I have owned for 20 years. It runs real well, and is road trip ready.

Thanks to everyone for the good input and advice on this. I will be in that $2800 to $3500 range - and possibly cut a better deal for a single mom or college student.