02 GMC sierra with salvage title a good deal???

Discussion in 'Chevy Silverado Forum (GMC Sierra)' started by lugnutal, Sep 16, 2013.

  1. lugnutal

    lugnutal New Member

    So i found i nice truck. It's a GMC Sierra regular cab with a stepside bed, 5.3 V8, power locks but manual windows, automatic, with a bed cover. Truck looks good in the pics i've seen so far. The guy is supposed to send me some more pics today. It's got a 160,000 miles on it and he says it runs great and is asking $6000 or best offer. My hold up is the salvage title. I've had salvage titles before with no problems but i'm just a little hesitant about this one. What do you guys think? Is it a good deal? The guys says its a salvage title because it was stolen and was not wrecked.
  2. Pikey

    Pikey Moderator Staff Member 5+ Years ROTM Winner 5000 Posts

    I have not seen salvage titles on vehicles unless the damage to it was more than the insurance company says that it is worth. I doubt that just being stolen would cause more than $5000 or $6000 in damage. That price also seems pretty high (at least in my area) for an 2002 reg cab with that many miles. I sold my very clean fully loaded 2002 ext cab for slightly more than that 3 years ago and that was well above the market value then.
  3. Conlan Rose

    Conlan Rose Epic Member 5+ Years 1000 Posts

    Unless its was rebuilt after being totaled. I have a buddy who buys totaled trucks for cheap and completely rebuilds them and sells the for higher prices because the trucks are pretty much new.
  4. j cat

    j cat Epic Member 5+ Years 1000 Posts

    so what we have is a vehicle that he says was stolen . now it has a salvage title. this was not in any accident or had any other mechanical damage.

    what you have to do is have the vin# and get a vehicle history report.

    this may be a hurricane sandy flood vehicle.

    it was reported that these vehicles are being sold with tittles from Oregon etc...
  5. rileyjr16

    rileyjr16 Epic Member 5+ Years 1000 Posts

    If you know a police officer you might be able to get them to run the VIN to make sure.
  6. buckmeister2

    buckmeister2 Rockstar 4 Years 100 Posts

    Not getting into all the reasons for the salvage.....$6k for an '02 single cab LS with 160K miles doesn't seem like a great deal to me. A year-and-a-half ago, I bought my '01 1500, 4x4, extended cab, sportside, LT fully loaded with 168K, price of $4800. And, I have seen equally good or better deals since. If a vehicle has a salvage, you should not pay more that 75% of wholesale (trade in) price, regardless. Few people will want to buy it when you are ready to sell it. Just my .02 worth....

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