My 2000 Silverado 1500 was stolen (most likely for its 20” wheels) and recently recovered. After working with the insurance group, they decided it ‘total loss.’ So, they’ll give me a good settlement on the total, and let me buy it back for roughly $1,800.

What do you think?

Damages appear to be limited to:
Ø Needs wheels and tires
Ø Replace the spare and mounting hardware
Ø Rear-right quarter panel was busted (plastic step-side bed)
Ø Ignition was busted – may need to replace entire steering column

Given the damages, my best guess was that it was stolen, driven directly to where it was left, and the wheels/tires were removed. So… is it worth the risk to fix given there could be engine or transmission damage? The truck hasn't been started since stolen as the ignition is busted. The truck has 115,000 miles. I’m the second owner and both the previous and myself have taken the best care of this truck.

Please share your thoughts.

Additionally, if I chose to buy the truck, I’ll have about $7,700 in my pocket to restore damages. What do you think about installing a manual (NV4500?) and/or upgrade to the engine in addition to body work? I love this truck.

Thanks.

 

It's up to you, but I would cut my looses on that truck and get a decent truck just like it and get what you want without having to fix it all. You can get trucks right now for really cheap. Esspectially since gas is going back up and the economy is crap!

That is what I would do, you would probably spend all of your insurance money in repairing the truck after buying it back.

 

Agreed... i also would cut your losses and move on... you don't know what could have happened to the truck while the thugs had it and you may not know till you have it back and fix it a little..

I would find a nice truck that you like just as much and start fresh... then use the rest of the money to customize the new truck( or take your wife/girlfriend or both to a nice dinner... lol)....

 

OK I have to throw a different opinion in here, but first a few questions...what model truck, what motor, how was it running before it was stolen. If anything you could pick up a set of used wheels and tires and get a junk yard steering column and have a cheap truck. If it's a plain jane 4.3 work truck I would let it go though.

 

First of all, thanks for the advice.

The truck had been running great. A little knocking for the first minute after starting when temps are below 50, but after letting it idle a minute... it went away.

4.8L V8
Extended cab w/ step-side short bed
Leather interior
Spray-in bed liner
113,000 miles
Religious about oil
Full brake, suspension, and tires around 97,000

Talked to the dealership today (they have the truck now) and questioned them about just replacing the ignition. They don't have a problem with that... but when they quoted the job, they included steering column and full 9 yards.

At the moment, really thinking to fix ignition so I can start it and see from there. How difficult would it be to put the 5 speed in? I like the idea of 'one of a kind'? Don't drive much... roughly 6K to 7,500 mi. per year

 

I would definitely keep it. I would also keep it an automatic...much easier to sell down the road. Just my opinion.

 

Thanks. I agree with the resale factor, but the new title will be 'salvaged' or 'totaled' so I'm not that worried about resale... I hope to drive this thing into the ground. Do you know how difficult it would be to find the 5 speed standard in the 1500 and/or how involved it would be to convert it over?

I've searched this site, but can't seem to find anything. It must be done a lot, no?

 

You can find them in the work trucks quite frequently. You don't see too many in the regular more equipped trucks. I guess we are all different I just don't want to shift gears unless I am driving a hot rod and even then it's hard to beat the consistancy of a good ole automatic. Maybe I'm just getting lazy in my later years!

 

I would be willing to guess its the second option mr shamrock...

 

I gather that it wasn't a 4x4? It is up to you as to what you want to do. But I would still cut my looses. After you get the column fixed you would have roughly 6,000 bucks left to get wheels and fix the bed. Now if you fixed it all yourself and could fix the bed yourself, then it would be worth it. Your truck as it sits, is not worth it if you have to have a shop fix it all.
Your truck as it was before it was wreaked (I assumed it was FULLY loaded on the trim package) is only worth $8,300 Private party EXCELLENT condition. Which I don't know very many vehicles that fall into that catagory. Good was $7,750, and Fair was $7,050. So as it sits, you have more in your hand that what the truck would be worth in the private party sellers community (Which is the only way I would buy an older vehicle). So I would just buy an vehicle with a little less mileage and the same trim. If you could I would try and find a truck with a 5.3L, but you may be hard pressed to find one like that without going to a 4x4. (Which I am still assuming that you had a 4x2)

But if you can figure it out another way toware you get out on top, well man, I want to hear it. I would like to learn anytime I can!

Good luck any way you decide to go.