Used Cars: truck, dodge ram 1500, salvage title


Question
im looking at a 2008 dodge ram 1500 4x4 with 4000 miles.It has a salvage title the guy that fixed it i knonw for years he does very good work it only had side damagege no frame damage i was wondering how much is this truck worth what should i offer him?

Answer
Well you did not specify if it was a regular cab, or quad cab, so I just assumed it was a quad cab  SLT, in the event it is a regular cab, that would be worth about $4000-$6000 less.  Now, My first question would be this, if the damage was so minor, why was it totaled and given a salvage title.  Secondly, there really is no exact way to put a value on it.  The bank I use, which is EXTREMELY conservative would only loan about $9000 to $10,000 on the truck.  They hit %40 off of LOAN value for rebuilt titles.  It might be worth up to $15000 if you really like it, but I could not see how the truck would be worth any more than that.  So basically $9000 would be nice, I definetly would not go any higher than $15,000, and remember this is for a Quad Cab SLT.  And take note, when you go to sell it or trade it in, there is nobody going to get very aggressive with the value of it, Salvage Built titles are EXTREMELY hard to sell, and the higher dollar they are, the harder, simply because most people that can pay that, dont want a rebuilt titled vehicle.