So,
I'm looking into this particular used car, it's about $20k below KBB.
Obvisouly too good to be true, but I have to check none the less....

So, had it carfaxed, title comes back clean, no major/minor damage, odometer looks good (only 10k miles on an '02) nothing has been replaced on it, everything is original and in great condition.

I look at it's registrations and I see that it was stolen in NYC, found in ITALY of all places, and shipped back to NJ. It was then sold at an auction and is now for sale.

My question is, if a car has been stolen but nothing needed to be replaced after it was recovered, is the vehicle no longer worth anything? Is it hard to get insured? Is it hard to get a bank to finance it?

Why is this person selling this car for $20k below KBB?

Thanks for your help!

B

 

first of all what kind of car? Especially if it was brought to italy.

 

2002 M-b Cl55

 

I would'nt mess with it. It's too much of a long shot.

Imagine this:
rolling one night, police pull up guns drawn.
you still would have some 'splainin to do

not worth the drama.

 

What would I have to "'splain" () if I had the title, and it was registered in my name?

Just playin' devils advocate here....

 

It's probably totally legit actually. Cars like these are always auctioned off at low prices.

 

:idea:

check the NY and NJ police depts to check if it is legit. I was thinking that someone may still have this car listed as stolen (eventhough it is clean now)

 

i have a few cars that were in the same situations, bought at an auction by a dealer, who is a friend of ours, and everything checks out clean, no problems with registration/police/previous owners...the one car had to have the windshield replaced after purchase, but thats minor.

only thing you dont get is the peace of mind of a warranty and service/maint. history
i say go for it

 

yea your gonna have to pretty much pay for all maintenance

 

tell the dealer you'll give him 8k less than asking right now and go for it. imagine 28k below book, what is the dealer asking for the car?

 

Is it safe to say that repos are better?

 

i dont know about better, but they arent bad

you dont get maint. history
you dont get a "pre owned cretified" label
the car always has the repo/theft/... lable
no warranty

but...
you pay less
probably get a car you couldn't have afforded in the first place
90% of the time nothing is wrong with the car-meaning majorly wrong-after all it is "used"

if you find a deal i say its worth it

 

Banks usually don't finance Salvage cars. Also if its an MB kiss that warranty bye bye...

 

your also gonna have a hard time reselling it. say you buy a repo car for 40k and its worth 60k....if you wanna sell it again in 2 years yits resale value will be well below 40k

 

but then again you are saving 20k, so some of that money can go to maintenance and what not. im sure on the outside everyone will think your driving a ballin car

 

Basically, they are asking 25k for the car, and this is a car that I would keep for 4-5 years. I am having a hard time NOT making an offer on this car.... Please tell me that I shouldn't get this car

 

Just be weary at how shotty AMG engineered equipment is. A lot of hit & miss on quality ... especially in the long run. Sure -- great performance but you will have to maintain it like a race car. And we all know what kind of premium MB charges on labor ... $$$

After my bro's experience with a 2002 C32 AMG (bought new) ... I would avoid any AMG product like the plague if you're gonna keep it past the warranty. I swear, at least C$10k was on warranty for parts + labor on that car. He is gonna dump it for a Lex or an Infiniti very soon.

Well ... good luck on your (potential) purchase.

 

Since cost of purchase is low, be weary of cost of ownership.

 

I am aware of all the problems with the AMG cars....my familly has had two in the last 5 years and they were both excellent cars with zero problems, but I know they can be trouble-some.
It's very tempting, knowing that I could actually buy a car like that, but just thinking about the cost to OWN is a little scary....

 

if its local and you dont buy it, im gonna find it and buy it so you better get it!

 

It's not local