LB7: Need help deciding to rebuild or take check and run

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bigfoot2222

Newbie
Mar 23, 2015
8
0
1
Sykesville, Maryland
Good evening guys, my name is Curtis and I have been a lurker here for only a couple of years after purchasing the truck used in my sig soaking up all the knowledge this site has to offer. Thank you for this site and your collective knowledge as it has helped me diagnose multiple issues without throwing parts at it.

I understand this is more of a build site but I trust and respect your opinions more than any other site out there.

Well Christmas eve around 10:30 at night I hit Rudolph at around 40mph square in the grill. The deer turned into red mash instantly spraying everywhere. :mad:

The insurance stopped totaling up the repair as they reached more than 75% of total value and therefore totaled the truck.

Some details of the truck besides what is in the sig line:

1. Drinks coolant with strong coolant smell, I am thinking head gasket gave up the ghost.

2. #4 cylinder at 3.9 at idle and 4.0 in drive for the injector, all others +/- 1.0

3. Standard rust on the rockers and rear of the cab with surface rust on the frame

4. interior is fine, cloth, new resistor pack and one



5. Needs a steering gear, its more loose than a street walker in DC


6. I paid cash in 2008 for $15,000 with 90,000 miles, currently has 210,000. Insurance is offering $10,700

I am not sure it is worth the effort for me to buy it back and fix it or cut and run.

So what says the collect.



Thanks in advance.



Curtis
 
Last edited:
darkness

darkness

Well-known member
Jul 15, 2009
1,329
393
83
48
vegas
Man you nailed that thing! How old is the trans build? Are you emotionally attached to the truck? How much is the buy back?
 
cdbright

cdbright

JUST RENT IT
Dec 16, 2008
1,015
7
38
44
Salt Lake City, UT
I got paid out for my stolen truck a few weeks ago, though I would drive a beater for a while, even drove a gas truck on test drive with plans to go get it the following day, then had to go on a trip to Belize for 2 weeks over Xmas, saw very cool little diesel trucks everywhere, came home and going to by a Danali Duramax tomorrow hahahahah:roflmao::roflmao:
 
036.6turbo

036.6turbo

Active member
Jan 17, 2014
747
92
28
bigfoot2222 said:
They want $1,600 for the buy back.
Click to expand...

$1,600.00 is a pretty good price for that truck.

But as to your question, there's a lot of factors to consider.

I re build salvage vehicles, to not sell, just as driver's. My last LB7_Z I built from a wreck, my current 2015 Denali I built from a wreck. Just finished another 2015 Denali from my son.

In my experience, you have to determine how much of the work you can do yourself, and how much you'll have to sub out. I sub out my frame work and some interior stuff, headliners mainly when side curtain airbags blow they mess those up. We have them repaired and recovered for way less than a replacement costs. Not an issue for you.

If you have to sub a bunch of the work out, it's really a losing proposition, financially speaking.

Then there is the work itself. Can you spend the time and effort required to build it out? It all looks good and exciting when you start, but once you get going, it can be a grind to see it all the way through.

Your local state laws and regulations also come into play. How hard will it be to get the truck re titled and back on the road.

Then there's the value of the truck when it's done, it is reduced. By how much? Hard to say, that all depends on the quality of the repairs and the options / mileage of the truck. Rule of thumb is a 20% knock for a rebuilt title. If you plan to keep the truck and drive the wheels off of it, then maybe that's not as big of a deal.

I'd build that truck in a heartbeat, but that's just me. I have an open bay in my shop right now, and no big commitments looming in the next few months. Plus I owned one of those for 10 plus years, pretty familiar with that platform.

At the end of the day, only you can make the decision. If I were offered that for $1,600.00? I'd probably go for it.
 
TheBac

TheBac

Why do I keep doing this?
Staff member
Apr 19, 2008
15,696
1,975
113
Mid Michigan
$1600 buyback? Hell, thats a no brainer for me. Put the truck under a tarp as it'll give you more time to figure out what you really want to do. Then either part it or rebuild it. Front clips arent all that expensive.
 
LBZ

LBZ

Super Moderator
Staff member
Jul 2, 2007
9,905
151
63
46
B.C.
Hell you would get your money back plus some just for the trans and t-case if you part it out.
 
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