The real cost of buying a salvage title vehicle

"I like cars: Jim Spanfeller is one ugly motherfucker" (qaaaaa) 01/29/2020 at 19:00 • Filed to: None

8

56

About a month ago I bought a wrecked 2007 Ford Focus online at Copart. This post will be a brief summary of expenses with the car and the process it took me to get a rebuilt title issued.

Purchase

When I bought the car, the “winning” bid was $175. After fees, the final purchase price was $363.00. Since I don’t have a truck and trailer, a gracious friend who has experience with buying salvage cars and rebuilding them offered to tow it... for free. Not wanting to be a total dick, I bought him a few gallons of gas. Gas is cheap in Ohio. Add on $10.42.

Purchasing and getting the car home set me back a total of $373.42.

Title

When you get the car, it’s in someone else’s name. So, you have to go down to the title bureau and get the car in you own name. How much is a title transfer? For all Ohio vehicle titles, getting the car in you own name will cost a flat fee of $15 if you bring cash. I remembered to do so that day.

Usually, title bureaus and BMVs are in the same building or right next door to each other. It’s pretty convenient. In my state, to get a salvage vehicle inspection, you must go to the BMV and get a paper called a Salvage Receipt. This allows you to legally drive the vehicle to and from the Ohio Highway Patrol inspection station and pays for the inspection itself. The standard fee (by cash again) is $50. Parking in the deck cost $2, but I’m an idiot and had to make two trips, setting me back $4. Total cost in this stage was $69. (nice)

Parts

I went to a local junkyard, LKQ Pick Your Parts on a Saturday with a few buddies, a fully charged impact, and a toolbox and was able to procure the necessary hood, bumper cover, fenders, door, headlight, and airbox for a total of $234.58. Also accounting for the $3 admission fee and $33.50 refund for cores, I paid $204.08. The weekend I went was 40% off for New Years, so prices were a little lower than normal. I also had to buy a few lightbulbs for the car, since I didn’t buy enough at the junkyard. Add in $12.53 for required lighting and we come to a total of $216.61.

Oh, I have to pay more money to the state now!

That’s right. After successfully completing the inspection, I had to pay to flip the title to rebuilt ($18) and pay for tags and registration ($43.20). Fees were higher than normal because I forgot to bring cash. Registration included a new set of plates (which will likely be used on the Rabbit) and road tax up to August, when the other vehicles all expire simultaneously (this is going to be an expensive renewal). Total cost to the state? $61.20.

In total

After summing up all expenses to this point, we find the final total cost:

Purchase: $373.42

Title/Inspection: $69

Repairs: $216.61

Title and Tag: $61.20

This all comes out to a grand total of $720.23. Woohoo! I’ve spent $720 on a car I don’t in any way, shape, or form want or enjoy driving.

So, I sold it. After a few weeks of lowballs, I finally sold it for $900. A cool $180 profit. Nice!

sony1492 > I like cars: Jim Spanfeller is one ugly motherfucker 01/29/2020 at 19:33

6

How is that only a $ 900 car?

dogisbadob > I like cars: Jim Spanfeller is one ugly motherfucker 01/29/2020 at 19:40

9

$180 for all the time and effort you had to put into it makes driving for Uber look lucrative :p

How much time did it take you to do the repairs?

RallyDarkstrike - Fan of 2-cyl FIATs, Eastern Bloc & Kei cars > I like cars: Jim Spanfeller is one ugly motherfucker 01/29/2020 at 20:08

0

I would’ve thought you could get more out of it!

I like cars: Jim Spanfeller is one ugly motherfucker > dogisbadob 01/29/2020 at 20:16

1

Honestly, not that much time. I could have gotten more for it if I waited longer probably, but I just wanted it gone so I could dump the money into other projects.

I like cars: Jim Spanfeller is one ugly motherfucker > sony1492 01/29/2020 at 20:17

1

Well, it’s four different colors, higher miles, pretty beat, and generally just an undesirable car. $900 was about right IMO

I like cars: Jim Spanfeller is one ugly motherfucker > RallyDarkstrike - Fan of 2-cyl FIATs, Eastern Bloc & Kei cars 01/29/2020 at 20:17

1

You wouldn’t believe how hard it is to sell a shit box…

sony1492 > I like cars: Jim Spanfeller is one ugly motherfucker 01/29/2020 at 20:30

2

This sold for $900 at 220k and a ruined interior, the market must be different out there

wafflesnfalafel > I like cars: Jim Spanfeller is one ugly motherfucker 01/29/2020 at 20:33

0

that’s cool - a couple weeks of fun and you came out ahead.  

superdave847 > I like cars: Jim Spanfeller is one ugly motherfucker 01/29/2020 at 20:38

0

Gosh I love this post. 

jimz > I like cars: Jim Spanfeller is one ugly motherfucker 01/29/2020 at 20:41

6

a few weeks of effort to make $180?  should have just rubbed one out.  would have been more rewarding. 

Wrong Wheel Drive (41%) > I like cars: Jim Spanfeller is one ugly motherfucker 01/29/2020 at 20:41

4

Yeah and when looked at that way, its more like you earned $180 in interest. You still got the other $700 back too, its like putting it in a savings account and withdrawing it later! Its like free money if you ignore that you spent it in the past lol. 

MKULTRA1982(ConCrustyBrick) > I like cars: Jim Spanfeller is one ugly motherfucker 01/29/2020 at 20:52

2

I know right? N O B O D Y wants a cobalt or a Saturn Ion 

I like cars: Jim Spanfeller is one ugly motherfucker > Wrong Wheel Drive (41%) 01/29/2020 at 20:52

0

Exactly!

I like cars: Jim Spanfeller is one ugly motherfucker > sony1492 01/29/2020 at 20:53

1

Yeah, this is Ohio. It was a rusty salvage title shitbox. Ain’t nobody gonna pay more than a grand for that. 

I like cars: Jim Spanfeller is one ugly motherfucker > jimz 01/29/2020 at 20:53

3

Well, you drunkenly buy a shitbox at auction, you gotta make the best of a bad situation...

I like cars: Jim Spanfeller is one ugly motherfucker > wafflesnfalafel 01/29/2020 at 20:54

3

It did burnouts in the rain. 

I like cars: Jim Spanfeller is one ugly motherfucker > MKULTRA1982(ConCrustyBrick) 01/29/2020 at 20:55

1

I do, the main problem is getting rid of one. 

speedyboi > I like cars: Jim Spanfeller is one ugly motherfucker 01/29/2020 at 21:43

2

Piece of shit. You’re a dumbass and you need to accept it. 

BeaterGT > I like cars: Jim Spanfeller is one ugly motherfucker 01/29/2020 at 22:22

1

MUSASHI66 > I like cars: Jim Spanfeller is one ugly motherfucker 01/29/2020 at 22:31

0

$180 “profit”. You drove to the BMV twice. You drove to get the car. You drove to the junk yard and spent time taking parts off. You had to spent time to install parts. You made an add and answered emails and spent time actually selling it.

Your profit is profit only if you don’t value your time. I’ve  assigned a price on my time. $50 per hour. That’s how I decide if I want to do certain things. 

Thomas Donohue > I like cars: Jim Spanfeller is one ugly motherfucker 01/29/2020 at 23:02

4

Aim higher:

https://www.copart.com/lot/60184869

MKULTRA1982(ConCrustyBrick) > I like cars: Jim Spanfeller is one ugly motherfucker 01/29/2020 at 23:07

1

who hurt you

ITA97, now with more Jag @ opposite-lock.com > I like cars: Jim Spanfeller is one ugly motherfucker 01/30/2020 at 00:14

0

I’m confused by the paying cash thing.  I didn’t know anyone, anywhere, still paid anything in cash.

I like cars: Jim Spanfeller is one ugly motherfucker > ITA97, now with more Jag @ opposite-lock.com 01/30/2020 at 05:14

1

When was the last time you bought an absolute shitbox? Pretty standard move. 

I like cars: Jim Spanfeller is one ugly motherfucker > speedyboi 01/30/2020 at 05:15

1

heard you drive an ecoboost, corona boy

I like cars: Jim Spanfeller is one ugly motherfucker > MUSASHI66 01/30/2020 at 05:16

3

It’s a good thing you didn’t do this them.

You overvalue your free time. Stop taking things so seriously. 

Long_Voyager94 > I like cars: Jim Spanfeller is one ugly motherfucker 01/30/2020 at 06:56

1

Some people just don’t enjoy toying with things, they’ll never understand.

Long_Voyager94 > ITA97, now with more Jag @ opposite-lock.com 01/30/2020 at 06:57

1

We do pretty much everything in cash.

It’s very nice knowing exactly what you have on you to spend instead of “oh I’ll charge it”.

I like cars: Jim Spanfeller is one ugly motherfucker > Long_Voyager94 01/30/2020 at 07:06

1

Hobbies are done to their own end. Sometimes I forget most people don’t enjoy and actively look for excuses to go to junkyards and work on their own vehicles. 

Party-vi > speedyboi 01/30/2020 at 07:25

0

What, uh...what? 

punkgoose17 > I like cars: Jim Spanfeller is one ugly motherfucker 01/30/2020 at 07:56

1

What were the other colors of the car? The black hood on yellow looks nice at least.

ITA97, now with more Jag @ opposite-lock.com > I like cars: Jim Spanfeller is one ugly motherfucker 01/30/2020 at 08:12

1

I read that as the state dmv type entity charging more for not paying in cash, which blows my mind. I’ve often bought and sold inexpensive cars via cash, but I’m not sure I remember the last time I bought something in store or interacted with a company or goverment agency in cash outside of my barber.

Long_Voyager94 > I like cars: Jim Spanfeller is one ugly motherfucker 01/30/2020 at 08:16

2

Hey I have the same issue.

Sometimes I go to the junkyard just to wander, no reason or excuse in mind.

I work on my own stuff because there isn’t a single shop around here that I trust to do it right, but I do enjoy it most days.

I like cars: Jim Spanfeller is one ugly motherfucker > Long_Voyager94 01/30/2020 at 09:06

1

I like working on my own stuff because 1) I’ve had bad experiences with most shops (almost all chains with the exception of a few super high end specialty shops ) in my area and 2) It’s fun. This is also the first time I’ve done body work, even if it’s just swapping a few panels, so it’s a new task that I’ve learned and now find less daunting.

I like cars: Jim Spanfeller is one ugly motherfucker > ITA97, now with more Jag @ opposite-lock.com 01/30/2020 at 09:08

1

Oh, yeah. I find it very strange, but they charge a fee for card use. So most Ohio BMV customers use cash because it ends up being cheaper. Yeah, it’s weird and outdated, but government moves at its own pace. Kind of makes sense, too. If they didn’t charge the fees, they would generate less income per transaction, on account of the fees all cards carry (which get paid by the vendor, per my understanding).

I like cars: Jim Spanfeller is one ugly motherfucker > punkgoose17 01/30/2020 at 09:10

0

From the front it doesn’t actually look awful. The hood was gray, the fenders and bumper were yellow, the driver’s door beige, and the rest of the car blue.

There was also a bit of red poking through on the passengers’ side rocker where a previous repair was done the last time it got totaled out. It was already a rebuilt title before  it was salvaged again.

I like cars: Jim Spanfeller is one ugly motherfucker > Party-vi 01/30/2020 at 09:12

0

(this is an IRL buddy of mine)

Long_Voyager94 > I like cars: Jim Spanfeller is one ugly motherfucker 01/30/2020 at 10:00

0

At this point in the game there’s not much that scares me anymore.

Wiring to do the 3.6/6-speed swap on my van is about the only thing I can think of.

I like cars: Jim Spanfeller is one ugly motherfucker > Long_Voyager94 01/30/2020 at 10:02

0

Which van? I thought you were staying away from manuals? 

ITA97, now with more Jag @ opposite-lock.com > Long_Voyager94 01/30/2020 at 10:09

0

And actually, I do know that significant part of NM’s population is unbanked and otherwise lives outside of officialdom to varying degrees.

That said, not being among the unbanked the idea of using cash for anything other than paying my barber who doesn’t take cards yet seems unappealing. This could also be product of living in world where vending machines are starting to become cashless in places around here. I look at cash as easily lost, stolen, untracked and without recourse once you hand it over. I view a debit card as modern cash. Mo re importantly, by paying for almost everything I do via credit card and paying them off each month, I actually get paid  for spending my money.

ITA97, now with more Jag @ opposite-lock.com > I like cars: Jim Spanfeller is one ugly motherfucker 01/30/2020 at 10:15

0

You would think by now they would’ve built the card processing fees into their budget process and pricing structure like everywhere else in the developed world , but as you said government moves at it’s it’ pace. At my current government job I’ve been marveling a bit at the reliance on purchase order procurement. The whole PO process just feels like such an inefficient relic. We’ve got procurement cards that we use for as much as we can, but there some limits on what we can use them for and how much we can spend per month on them.

Long_Voyager94 > I like cars: Jim Spanfeller is one ugly motherfucker 01/30/2020 at 10:27

0

The Rally van.

I want to swap the 3.6/6-speed auto from a 2011+ into it. Something about 283hp in a 3200lb van sounds fun.

Long_Voyager94 > ITA97, now with more Jag @ opposite-lock.com 01/30/2020 at 10:29

0

Likewise, credit/debit cards are easily stolen/hacked, which can lose you great sums of money quite quickly.

Bonus of not using a credit card, I’m not spending money I don’t have now, so I can pay it off with money I don’t have later.

ITA97, now with more Jag @ opposite-lock.com > Long_Voyager94 01/30/2020 at 10:36

1

Sure, but you get your money back when things go wrong with cards. These days it happens pretty quickly, too.

I don’t see credit cards as money I don’t have. For me it’s the way of spending money that is  sitting in my checking account but getting paid to it so long as you pay ‘em off every month.

I like cars: Jim Spanfeller is one ugly motherfucker > Long_Voyager94 01/30/2020 at 10:43

1

Ahhh that makes more sense. Yes, that does sound like quite a hoot. The easiest way to do that I would think would be to use a standalone for both. Using stock PCM in your van would probably be a challenge. If not a standalone, you might need a whole running car to transplant all equipment from. And even that would require some fabrication.

I like cars: Jim Spanfeller is one ugly motherfucker > ITA97, now with more Jag @ opposite-lock.com 01/30/2020 at 10:48

0

I generally carry a bit of cash with me. A month back someone either skimmed my debit card or used some software to generate a valid card/CRN and brute force to create an Uber Eats account and rack up ~$400 of charges. The bank was able to reverse all the charges and issue me a new card, but if the card itself had never existed, the only way to steal my money would either be to steal my wallet or hack into my savings account.

However, I am indeed amazed that it’s still standard procedure to include a charge for card usage. It’s an interesting relic.

Party-vi > I like cars: Jim Spanfeller is one ugly motherfucker 01/30/2020 at 10:56

2

Good deal. I figured as much but still. Carry on.

MKULTRA1982(ConCrustyBrick) > sony1492 01/30/2020 at 11:37

0

But 900$ US is like 16,800 pesos so there’s that. Pesos make me feel like a high roller 

MKULTRA1982(ConCrustyBrick) > I like cars: Jim Spanfeller is one ugly motherfucker 01/30/2020 at 11:46

0

From my understanding credit card companies charge as high as 20% per transaction once you’re all in fees wise (someone please correct me if I’m wrong), so I can understand just making the customer pay that when they’re a captive market. THEY can pay for the convenience.

Cash vs credit wise I use my credit for ALL purchases that I can because I get I think 2.5% cash back, and if I were to use my debit more than 10 times I would have to pay a monthly account fee. Credit charges are MUCH easier to keep track of but that’s personal preference IMO.

Credit cards are also needed for building credit (unless there are other good ways accessible to those with no credit history) and aren’t dangerous if you PLAN on always paying the balance before it’s due (I’ve only paid interest once). Easier said than done though.

I’ve had my identity stolen 3 times already (and I’m pretty careful with it) and it has always been surpassingly easy to reverse the charges, although my debit being compromised was challenging because I was out that money until the issue was settled.

All that being said I just bought a 4 figure car in cash today, and I will usually  ask about cash discounts because I’m a degenerate. There will be an oppo post later today about the new purchase as well! 

MKULTRA1982(ConCrustyBrick) > Thomas Donohue 01/30/2020 at 11:48

1

1. Drag/drive it home

2. Post on Bring a Trailer

3. ???

4. Profit 

Long_Voyager94 > I like cars: Jim Spanfeller is one ugly motherfucker 01/30/2020 at 12:02

1

There’s no stand alone that can run the trans, so getting a donor and grafting the new drivetrain’s harness/ecm into my old van would be the only way to get it to work.

That’s where my hesitation in actually pulling the trigger on it comes in.  

Long_Voyager94 > ITA97, now with more Jag @ opposite-lock.com 01/30/2020 at 12:07

1

Sadly you’re one of the few. Most people look at their a ccount, see they don’t have the money for it, then charge it instead thinking the money will magically appear before the bill comes due.

Or they do what a friend of mine did: Had to take a loan out on medical bills ( high interest loan mind you ), couldn’t afford the monthly payment, so they charged the payment to their card.  Nothing like paying interest on the interest of the money you don’t have!

I like cars: Jim Spanfeller is one ugly motherfucker > Long_Voyager94 01/30/2020 at 12:08

1

No stand alone can run the transmission as in there’s no turnkey software to run it or as in there’s no controller with the hardware capabilities to manage it? I’ve yet to dig in to learning how to program a MegaSquirt, but I plan to eventually.

Long_Voyager94 > I like cars: Jim Spanfeller is one ugly motherfucker 01/30/2020 at 12:42

1

There’s no controller with the capability. Chrysler’s coding on the trans control on these is pretty much unbreakable, there’s a guy that’s been working on cracking the code for the 4 speeds for over 5 years now with no progress.

I like cars: Jim Spanfeller is one ugly motherfucker > Long_Voyager94 01/30/2020 at 13:01

1

Huh, I was running with the assumption that any transmission controller would be actuating stuff on the valve body directly, not functioning as a piggyback to the factory controller. It’s probably more complex than I’m thinking. What’s the Chrysler code for the transmission?

Long_Voyager94 > I like cars: Jim Spanfeller is one ugly motherfucker 01/30/2020 at 15:52

1

Pretty much everything on the trans is computer controlled, not just the valve body.

If I’m being totally honest, it’s more BS than I care to find out about, plenty of people have tried running standalone units on these electronic Chrysler transmissions, no one has succeeded in getting one to work.  

The code is whatever coding they used when they made the TCMs for them. People have been trying to crack the TCMs for a long time to change shift points and adjust speedos after swapping transfer gears, no one has been able to do it.