2006 GT Flooded

I'm looking at a 2006 Legacy GT at an insurance auction. Clean all the way around no body rust or damage the "notes" say it was flood damage is why it was totaled. Car starts and moves but I can't test drive all its functions. What are your all's thoughts and maybe what is a fair market price for such a vehicle. I'd love to own a GT as I'm looking to get out of my current ride is this worth the gamble?

Personally I would stay away from it. If it was in accident and was repaired correctly that is different story. Flood you never know. Move on and find another one.

I guess my question is, you never know what exactly. I've heard a lot about flood cars but every story is second had I heard from a guy stories. I'm not saying they are wrong its just all to convoluted and cloudy for my liking you know. I'm an X and O kind of guy I shouldn't for reason X. I'm just trying to find out what the X is with this kind of deal.

It depends on how flooded the car got, if the car runs the obviously the motor and trans are probably ok. The issue with flood salvages usually is in the electronics, it can take months or years for those issues to creep up in the form of rust and corrosion especially on printed circuit boards in the ecm, tcu, and bcm. A fair market value from my experience is definitely going to be less than fair condition trade value. I wouldn't put more money in than you could get for the parts on the car. Say in this case $3-$5k tops depending on how clean and straight everything is. If you are getting even close to private party fair value you are overpaying period. Even if nothing is wrong with the salvage title will kill the value of the car.

Run away!

It depends on how flooded the car got, if the car runs the obviously the motor and trans are probably ok. The issue with flood salvages usually is in the electronics, it can take months or years for those issues to creep up in the form of rust and corrosion especially on printed circuit boards in the ecm, tcu, and bcm. A fair market value from my experience is definitely going to be less than fair condition trade value. I wouldn't put more money in than you could get for the parts on the car. Say in this case $3-$5k tops depending on how clean and straight everything is. If you are getting even close to private party fair value you are overpaying period. Even if nothing is wrong with the salvage title will kill the value of the car.

 

Thanks for the honest answer this was about what I was thinking it'd be worth really a little more then what the Engine and Trans is worth. I don't plan on reselling the car so the Flood Title really isn't a deal breaker for me. I do worry a bit about rust and how that will affect the car as it ages, and the obvious electrical issues of course.