Financing through a 6 month old coroporation

[SandBlastard]

Ah, wow - that is super helpful!

They did state that the front right end had to be repaired ($6k in damages) because the truck hit a pothole when it was stolen, but everything was replaced at the dealer with OEM parts, and I was assured that the truck's warranty is not void and nothing changes. The Carfax shows a damage report - but also says: 'damage may not be accidental'

Very good point on the resale, really appreciate that insight!

SUS

 

[TyRex]

There’s a period of time that has to pass. Generally what happens:

Car stolen > 2 week recovery period > insurance company pays you out, and as a second step to this they buy the car from you essentially transferring title. Once the recovery period lapses and if it’s found, it goes to salvage on recovery. Otherwise they have a title to a phantom asset, that remains flagged

@yev my 2c, you should be fine on the loan. If you are buying a recovered car make sure the dealer gives you in writing docs stating warranty and have them do a ECU check to make sure it wasn’t modified. Push for 15% discount. No ones gonna buy this car. Use the lot time against them if you can pull it. Additionally with the business the car shows commercial use in CARFAX, if you ever change your mind and re-register personal, it’s a second owner in DMV further devaluing your car

I’d be concerned between the theft and the commercial use, if you plan to resell it you’re gonna be fucked on resale.

That’s correct. I wouldn’t buy a theft new truck, just call Granger Motors an make sure to get one brand new there. IGLA is the most important here (Ravelco could be another option, your choice). Drone XC, Compustar T13 is the complete combo. About buy the truck using a company, only if you don’t care lose money or you not planning to sell it ever. I would buy more a “personal” used truck than a “commercial” truck. Just me…. Good luck.

 

[TyRex]

Ah, wow - that is super helpful!

They did state that the front right end had to be repaired ($6k in damages) because the truck hit a pothole when it was stolen, but everything was replaced at the dealer with OEM parts, and I was assured that the truck's warranty is not void and nothing changes. The Carfax shows a damage report - but also says: 'damage may not be accidental'

Very good point on the resale, really appreciate that insight!

Run! Never look back! Buddy, 10K discount will come back later with suspension issues, or engine issues. Do you think that a thief is going to properly do your truck break-in engine? Have you ever heard about break-in engine procedure to avoid early engine issues?
An advice? Run away!

 

[yev]

Something else to consider.....if the truck was brand new (little or no miles) when stolen, you can be assured the thieves ran the living shit out of it. Meaning, it was flogged pretty hard during what should have been the engine break in period.

Do you think this would matter in the long run, past the warranty period?

 

[yev]

Just one more item - if your current Rebel was registered under your personal name, and your new vehicle is going to be registered under business name, you may have trouble getting that sales tax reduction based on trade in. I would suggest contacting your NMV or whoever does that calculation in NY to see if there are any specific steps you need to do, or can do, to assist with that, if it's possible.

Good point! Wow, thanks guys! This is such helpful info - probably the most helpful forum I've ever been a part of. Greatly appreciated!!!

 

[yev]

$6k is fairly substantial damage. Ask them for invoices showing what was fixed. It's nice to know the extent of the damage.

They sent an entire document outlining the damage and police report. Am I allowed to post it here?

 

[IdahoKTM]

They sent an entire document outlining the damage and police report. Am I allowed to post it here?

I don't see why not.

 

[RAMTRX22]

I had read that sometimes it's hard to get insurance on a salvage vehicle. Might double check with your carrier even if title is clean about covering it considering its been repaired.

 

[yev]

I uploaded the PDF here which shows the repair invoice and the parts that were replaced

 

[IdahoKTM]

I uploaded the PDF here which shows the repair invoice and the parts that were replaced

It looks like no body damage, other than a fender flare is good. The wheel and tire were replaced, so I would be concerned about suspension component damage. The rearview mirror, bezels, and the overhead console replacement is odd.

Can you post the police report?

 

[Exec_TRX]

I uploaded the PDF here which shows the repair invoice and the parts that were replaced

Likely a large pothole at high speed probably cracked the rim and sent it into the flare. Would almost guarantee you the shock, tie rods and control arm are probably fucked also. Now or later

 

[Louk]

There’s a period of time that has to pass. Generally what happens:

Car stolen > 2 week recovery period > insurance company pays you out, and as a second step to this they buy the car from you essentially transferring title. Once the recovery period lapses and if it’s found, it goes to salvage on recovery. Otherwise they have a title to a phantom asset, that remains flagged

@yev my 2c, you should be fine on the loan. If you are buying a recovered car make sure the dealer gives you in writing docs stating warranty and have them do a ECU check to make sure it wasn’t modified. Push for 15% discount. No ones gonna buy this car. Use the lot time against them if you can pull it. Additionally with the business the car shows commercial use in CARFAX, if you ever change your mind and re-register personal, it’s a second owner in DMV further devaluing your car

I’d be concerned between the theft and the commercial use, if you plan to resell it you’re gonna be fucked on resale.

Friend of mine leased a prior stolen recovery, worked out in his favor as he never planned on keeping the car past the lease period. I am not sure the exact timeframe his was stolen from the dealer but it had a little over 3K miles and almost 30K in damage if I remember right. He got a screaming deal on it and then launched it off the road causing at least 50K worth of damage. Whoever gets that car after him will have a twice over rebuilt