Re: Reconstructed title on a possible purchase - comments?

["John Ward" <jtward@xxxxxxxxxxx>]

>Date: Sun, 25 Oct 1998 22:03:49 -0500
>From: dtuten@domain.elided (Daniel Tuten)
>Subject: Reconstructed title on a possible purchase - comments?
>
>Howdy Folks -
>
>I found an incredible deal on a '97 M3/4 through a division of the state of
>Florida - it's a DEA confiscation, or a repo, or something along those
>lines.  The car is apparently immaculate, has 6100 miles, *and* is a good
>$8000 less than the cheapest car I've found up to this point!
>
>Does anyone know of any long term consequences to owning this vehicle?  I
>sent them an email, and they responded that the reconstructed title is
>completely clear and is effectively a *new* title for the car.
>
>I recently found a car-fax type info sheet a dealer had printed for me when
>I was shopping for an RX7 - one of the items that is tracked with the car's
>history is 'reconstructed title'.  I would just hate to be in a situation
>where I was selling the car a few years down the road, only to learn the
>history of the title makes it impossible to sell, or greatly devalues the
>car.
>
>Any input would be greatly appreciated, especially from anyone who has
>purchased a car under this circumstance.
>
>Seeya -
>
>DT


DT, This M3 might sound like a great deal being $8,000 below market of other
cars you have seen but remember the old adage "You get what you pay for."
Given the shady past of this car, I would stay away from it like the plague.
It sounds great, but there is a REASON why it is being sold for so much
under fair market value. First off, the car was owned by a drug dealer, some
guy who didn't pay his bills, or this thing was stolen and god knows what
happened to it. Face it, the guy dealing dope on the street in Miami is
probably driving the car for flash and didn't even change the oil or break
the car in properly. If he wasn't paying his bills, then taking care of his
car was certainly the least of his worries. If the thing is theft or a
rebuild, then I think that's the worst case scenario. Something has happened
to the car. It was stripped and now pieced back together, or it's been
welded back together. BMW's are quirky enough that you don't want to get
involved with one that's been hit. If you can't live with this
"reconstructed" title then I wouldn't buy the car because there is a good
chance it WILL carry over when you sell it, and you will lose money trading
it in. Nobody wants an M3 with front end frame damage, hit in the B pillar
or whatever.. even when it's been repaired right, let alone incorrectly.
(which is more often the case) BMW's are great cars, but you want something
with a history to it and not one like this. I'd rather have a decent '95 M3
with a good past than this '97 with a shady one. Just my point of view.

Regards,

John

1990 750iL
1992 325iA
BMW CCA #150800, Buckeye Chapter

------------------------------