Make sure to watch my follow up video regarding these 2 cars:
Let’s review what gets damaged on cars in a hail storm, then we’ll review a new Mustang GT and a new Hyundai Sonata, the massive discount we can get buying them, and discuss final pricing after rebuilding.
Copart Fees Calculator:
https://www.easyexport.us/fees
Hey everyone I've added my follow up to this video explaining my thoughts on the value and work associated with these 2 cars: https://youtu.be/k9wJ4TSbhbA
No
Yeah, but the Auction house labels the word "SALVAGE VALUE" to all totalled Hail damaged vehicles. Therefore the after market sale of this vehicle is a lot lot less, especially when the buyer finds out that it is not clear title but rather, SALVAGE. So you really don't make any money off these type vehicles, however, if you are using as your own personal vehicle, then Yes, it's a excellent deal.
Can you get to the part where you fix the problem we know about hail
Great advice!
Stick with common makes and models.
Stick with low mileage vehicles.
Only buy one to keep for yourself.
They can be good deals, if that was a vehicle you wanted.
Reselling cars from salvage is tough work.
VINs associated with a salvage history can only get 70% of the ‘market value’ for a comparable non salvage history car when trying to resell.
Many manufactures won’t back vehicle warranty for vehicles on a salvage listing.
Insurance for vehicles (even once fully repaired) can command higher premiums, some insurers won’t cover them at all.
No matter how pretty you can make a vehicle that has come from the Co-part grave yard, they are never as good and you will almost never make money on them (once you factor in $ for your own time and effort).
There is not one YouTube channel on here that can honestly claim to buying salvage and turning it back into gold for a profit.
Hi Sam. We had a huge hail storm here in Canberra Australia in January 2020. It was massive and 44.500 cars ended up getting written off. Here they have a thing called WOVR that’s a written off vehicle register. So here If the cars on the WOVR then they cannot be registered at all ever again they are only good for parts. A very small amazing we’re out on the repairable written off register they can be registered to drive on public roads but will have limited insurance available to them. And they can only be registered in Canberra no other states. It’s always interesting watching how you do it over there and how different it’s all done. Thanks for the awesome Videos and content I love your videos
The busted window on the Mustang is a bummer. The interior has some hidden mold and funk. Otherwise it would be great advertising/daily driver for someone in the Mustang business or tuning business.
If you can find the same car but flood damage then you will save alot of money I brought a hail damage m4 and a flood damage m4 hail damage m4 was 17k the flood damage m4 was 4.5k took the hood tail fate off took the roof off the the doors and fenders fixed a few dents with filler the car looked like scrap with all the filler primer as the flood damage m4 was a competition I sold the wheels for 3k and brakes (ceramic) for 1.5k then sold the bumpers can not remember I think around 2k with the carbon fibre reinforcement bar I made more than I lost only to about 2k I painted it myself the job was good
BUT, the damage title drops the value of the car by at least 20% at a minimum, if you're trying to sell it to a stranger, but if you keep it yourself, drive on!!!
I just subscribed, I love it when people share their experience and secrets to help people. I highly respect that.
Just came to see how damage due to the hailstorm can be fixed. It hit my city Fez in Morocco 😂
throw some body filler in them and go… lol
To much filler false description
Your explanation was accurate , I been wishing to buy a 2015 Lexus GS 350 f sport from corpart father back home in Africa.
If thet they end up being salvage cars. Not worth it
Not sure theMustangs 40,000$ level allows for the Salvage title discount nor for potential selling issues. I suspect it is not worth the work to flip; but if car for own long term drive it could be justified. Other is simply not worth starting.
FYI. Hyundai rhymes with Sunday. Not what you are saying
I’m so glad I’m a body repair man.
Correct me if I'm wrong but a vehicle with a salvage title depreciate the value by 25-50% over retail price. That said, the mustang, once fixed, could sell for $20-30k. So in your project budget, if you factor your time for the hassle of locating parts, taking it to the body shop, waiting, cost and trouble of having state inspection and documenting and filling out the paperwork. You did not save any money. If it's a personal vehicle you do end up with a "new" car below MSRP and know repairs are done right.
Why do some wrecked cars on these sites have a clean title and others don’t?
Garbage video, garbage idea, dealer discount is better option than these deals for what is effectively salvage.
I bought a moderately hail damaged car $1700 (7 year old car) never fixed it only normal maintaince, I drove it around for 5 years and put over 50k on it then my dad drove it back and forth to work for a year or 2, then we kept it as a backup car (which we did use a few more times when another car was down) finally it wound up sitting around too many years and it was still sold off for $500 what a great little (actually large) car it was, the few times I went somewhere with my parents (in my twenties still lived at home though) I was always grateful when they drove my car cause it was so much more comfy than their little car.
Any mustang is worth the build
Ironic if he ever got hail damage at home, what with that nice garage. Carport for the rest of us?
What is the 9300 discount for?
It's important that people know salvage cars, even if "perfectly" repaired, will never be worth remotely the same as a car with no accident history. 90% of potential private party buyers will run the other way when they find a car with a branded title. Most dealerships won't accept them as a trade-in (other than scrap value), and insurance companies will not offer full coverage policies- liability only. Finally, banks do not offer auto loans on such vehicles- your potential buyer will need to pay cash or get a personal loan at a higher APR. Knowing all this, I personally would find it hard to justify having more than half the wholesale or trade-in value invested in the car and repairs. Which means I'd want to pay no more than 1/4 to 1/3 of trade-in value at auction. Finally, if my intention was to flip cars, I'd avoid them altogether and focus instead on privately owned vehicles with mechanical problems- transmission, clutch, brakes, etc. Those are the cars you can often pick up for a fraction of book value with no accident history, clean title, and terrific cosmetics. With the high price of auto labor rates, learning how to do it yourself can pocket real savings with no hassles. As an aside, if the car I'm buying with a bad clutch or blown tranny has a clear title, my bank doesn't care- they will still loan money on it at full book value. Recently, I was looking at a BMW motorcycle where the seller just needed to get rid of it and was selling for below book. My bank offered to loan me over two thousand ABOVE my purchase price because it was so cheap. So the deals are out there, you just need to know them when you see them. As much fun as it is to watch mangled salvage cars become "perfect" again, for most of us, it's probably better to avoid that particular reality show with our own time and money.
I was very confused when I looked at the thumbnail I thought it was in German or something
“HAIL DAMAGE, EZ FIXER”
The discounts are not steep enough to justify the time and expense! Let alone the salvage title.
not wort it. will loose 3000 as soon as drive off the lot for a new car so cannot go with msrp- should start with lower numbers..also if salvage title will lower price much more….