A dealership is selling a stolen recovered car at a good price(3-5k off what completely new ones similar to this model will cost). The vehicle wasn‘t written off as such just stolen and recovered. I will obviously get an expert to do to an inspection of the vehicle to identify any mechanical issues. What I wanted to understand is am I missing something obvious here? What implication does stolen and recovered tag has when you are trying ti sell the vehicle later.
Is it worth the hassle?
On the PPSR it will have that record for forever, so although you save now, you will also lose money selling it - and some dealerships may not let you trade it in at all. Legally you aren't required to disclose to a private buyer, but complete dog-act if you don't.
The main problem is that these days (in my experience) most stolen cars are taken for joy rides and are absolutely thrashed to death. Often they only dump them after the tyres are blown out or the engine stops.
I have bought several repairable write offs from auctions to repair, drive for a bit and then move on to bigger and better things…. but despite how tempting they look, I have never had a stolen-recovered make sense to buy.
You may also find that your 'market value' comprehensive insurance offers you a drastic reduction in value if you ever need to make a claim.
Generally no finance company will touch a write off. Most won't touch stolen recovered either. So depending on the value that may make it more difficult for you, or more difficult to sell later.
Make sure you remove the drugs, hookers, piss, alchohol, religous material from the back seat and you should be fine to go
Should be fine, the criminal / youths will have only had the car for a relativly short period of time
piss
A lot of piss in these things
I would be concerned the "stolen" car wasn't an insurance job due to some hidden expensive failure (eg gearbox, electronics, engine failure). Furthermore its a titled car no one will touch it when it comes to resale.
for a measly $5K discount, not worth the risk IMO
Wouldn’t that be only relevant is it is written off? If it isn’t written off how does the dealership benefit from insurance?
Doesn't, example;
owner has a car with gearbox problem, quoted for repair exceed their perception of value of the car. They arrange car to be stolen, gets paid out value of the car, no need to pay for expensive repair, problem solved. Car goes to auction, insurance get their money, and car bought by whomever (eg dealer) unknowingly.
Other insurance job if they're need of money, which is fine. Like that clown who drove a Bugatti Veyron into a lake on purpose, got time for that.
username checks out ;)
Jokes aside.
Since you asked this question, I would assume you have some (psychological) doubts in you mind? That may out weight the savings… disclaimer I'm not a psychologist.
Unless the thief washed and serviced the car, filled the tank with petrol, and put new tyres on it I wouldn't consider making the purchase after they've thrashed the guts out of it, run over gutters and practiced drifting around corners..
If they were junkies that stole it there’s a good chance they washed the inside down with various body fluids…
Or they just needed to get from A to B and didn't want to attract any attention by fanging it, you never know.
No. Just no.
If PPSR is clean, when may be worth the gamble. Kind of also depends on the car, if it's a BMW probably not so much but if it's a Toyota then be less risky.
My father-in-law recently had his work car (a 150 series Prado) stolen. To give you some idea on how it was driven during that time, its brand new tyres were worn down to the canvas over the course of two days. You can't tell me that this wouldn't affect the longevity and reliability of that car in the long term. Yes, the car the dealer is selling might have just been driven to Maccas and back, but I wouldn't chance it.
Check its PPSR status.