'New' TRX at Copart
#3203679
01/10/24 07:57 PM
01/10/24 07:57 PM
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Joined: Jan 2003
Posts: 12,108 Benton, IL.
DaveRS23
OP
Special needs idiot
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OP
Special needs idiot
Joined: Jan 2003
Posts: 12,108
Benton, IL.
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I saw this at Copart today. I posted it for a couple of reasons. First, I thought it was interesting. And second, it is a good example of the many, many nuances around 'salvage' vehicles. There is absolutely no one-size-fits-all when it comes to salvage title designations. This truck has about 300 miles. Still has the dealership inventory tag on it and the dealer info in the glove box. It appears to have never been titled. Other than the damage in the photo, the truck is immaculate. It starts right up and runs and drives. The damage is clearly well below any salvage thresh hold requirements. Whether it was a test drive gone wrong or a theft, I don't know. But it is obvious that the damage in and of itself was NOT the reason for the salvage designation. It likely had more to do with some potential down stream liabilities. Anybody care to guess what the final gavel price will be when this one comes up? It will probably be awhile since it just landed at Copart So. Ill. It apparently came from a Springfield TN. dealership.
Master, again and still
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Re: 'New' TRX at Copart
[Re: stumpy]
#3203708
01/10/24 09:18 PM
01/10/24 09:18 PM
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Joined: Jan 2003
Posts: 12,108 Benton, IL.
DaveRS23
OP
Special needs idiot
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OP
Special needs idiot
Joined: Jan 2003
Posts: 12,108
Benton, IL.
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Can't sell it as new so the price goes way down making the insurance company total it. In some circumstances, if they repaired it, 'diminished value' could come into play and the dealership would be made 'whole' and the vehicle would be able to retain warranty. A better deal all the way around. But this way, there is no factory warranty which, along with the branded title, would have a much more significant impact on current and future value than a simple repair. We don't have the full story, so there is plenty of room for conjecture. My money is on a theft recovery. I have this one on my 'Copart watch list'. I bet it will bring $75k when it comes up. Maybe more.
Master, again and still
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Re: 'New' TRX at Copart
[Re: DaveRS23]
#3203806
01/11/24 12:23 PM
01/11/24 12:23 PM
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Joined: Jan 2003
Posts: 2,332 Addison Twp, Mi.
RobG
top fuel
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top fuel
Joined: Jan 2003
Posts: 2,332
Addison Twp, Mi.
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I would buy it and drive it as is. I know I would probably dent it up anyway... The pressure is off and you don't have to have a panic attack after the first door ding.
I am not rich...but I get off my ass everyday to make sure I am not broke!
Can we get the Mexican cartels to help us with our supply chain issues? They don't seem to have any trouble getting stuff from one place to another.
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Re: 'New' TRX at Copart
[Re: RobG]
#3204111
01/12/24 03:41 PM
01/12/24 03:41 PM
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Joined: Jan 2003
Posts: 8,027 Tulsa OK
Bad340fish
master
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master
Joined: Jan 2003
Posts: 8,027
Tulsa OK
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My Boss's sons truck was stolen awhile back. It was a 2018 F 150. They found a key for it in an unlocked vehicle in the driveway and then came back and got it. It was not found for six months. When it was found it had only been driven 60 miles and was totally unharmed. My boss didn't find out it was recovered until Copart called him about it looking for a key if he had one. We got with a customer of ours that is a used car dealer and were going to try and buy it from copart and put it in the fleet at work. It sold for stupid money, really stupid money if you consider the copart fees. I bet this truck brings big money and goes overseas.
68 Barracuda Formula S 340
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Re: 'New' TRX at Copart
[Re: Stanton]
#3204181
01/12/24 08:06 PM
01/12/24 08:06 PM
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Joined: Jan 2003
Posts: 12,108 Benton, IL.
DaveRS23
OP
Special needs idiot
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OP
Special needs idiot
Joined: Jan 2003
Posts: 12,108
Benton, IL.
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Any new vehicle - be it a car, truck or trailer - damaged prior to sale is usually taken over by the insurer (not necessarily written off). One reason being that if damaged by the carrier or transporter, its their insurance who has to cover it, not the dealership. If the dealership accepted the damaged vehicle then they can't file a claim with their own insurer and would be on the hook for both the repair AND the loss of revenue from having to sell it as a repaired vehicle.
I'm guessing this was damaged in a test drive or whatever. The dealer makes the claim and lets it go to auction. The auction price will be to high for most people so the dealership will buy it back at a bargain price and make a killing on it after they repair it.
So no surprise that its at a Copart lot. I have a friend who loves those deals !! The insurance company is the listed seller. Not the dealer.
Master, again and still
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