How much does a salvaged title lower the value of a BMW?

Q: I have a 1997 BMW that someone gave me in lieu of payment for a job. We found out it has a salvaged title. The car fax report states the car was in Houston and then in Mississippi prior to coming to WA State. We wonder since the car was in Mississippi, if it fell victim to Hurricane Katrina, and owner claimed it a loss just to get cash. The car is in excellent condition, except it needs a new catalytic converter. By looking, and driving this car you would never know, but because of that brand on the title, I wonder if we have a worthless vehicle. All great answers.thank you very much.

A: Problem with that car is the electronics that could have gotten wet. Problems may take a year or more to show up. You can clean up a car and make it look nice but corrosion inside control units is not something you can see until its to late. If your going to take the car as payment and drive it and your not loosing money from cash you put out for their job, why not take a chance. If your going to try and sell it to get you money back then pass.

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