YES YES YES!
I have a 2005 Ford F-150, which I would NEVER buy new. I bought one with salvage title and it's been a spectacular vehicle....for $3500!
And here's the super cool thing. When the county wanted to value it at what a "normal, non-wrecked" F-150 goes for, I called 'em up, reminded them it's SALVAGE TITLE, and they knocked $2000 off the valuation. YAY!
Caveats:
1) You NEED the original damage to be "light" on the vehicle (frame not bent, or frame able to be straightened)
2) You NEED the repairs to be truly expert. You don't want to be going through a set of tires every year because the alignment is off and can't be fixed.
3) You NEED the car NOT TO LEAK. That sucks majorly.
4) You NEED everything on the car to work, especially the AIR BAGS.
5) NEVER FINANCE. You need to be able to carry only liability insurance on the vehicle. Collision/Comp won't pay full value if it's a salvage vehicle.
What else? Not sure. But, I'll tell you this. I'm absolutely thrilled with my salvage purchase. I have a brother who won't buy anything BUT a salvage vehicle. He goes to the auctions, shops carefully and when he sees a vehicle without basic frame damage, he pounces. This is how I got the F-150!