Car "Flipping" - in terms of resale
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Posts like a V-Tak
Joined: Aug 2009
Posts: 32
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From: Tennessee next to THE DRAGON
Go for it - odds are you wouldn't lose money plus it would be good practice for the future.
Thanks again to JimmyFloyd for the great response for anyone who wants to get into this kind of thing full time. I've been doing this for about 6 months, just for fun and hopefully like he said in #6 to make ~$500 (or at least not lose money lol) from each car.
Sometimes you win; sometimes you lose. I bought a non-running Toronado Trofeo that needed the heads reworked because the previous owner overheated it & blew the head gaskets. Then when we got it running we found out why: the radiator was bad. Once that was replaced we test drove it and found out that the tranny didn't have 1st gear. I still have that car, waiting on a suitable transaxle.
I only buy GM cars with 3800 engines - because I love them & for the sake of parts interchangeability (hence my nickname on here
). In Tennessee you can only sell 5 cars per year that have been titled in your name before having to get a dealers license, so I'm almost at my limit.
My only problem is that I'm addicted now! I can't stop scouring Craigslist for bargains and I keep finding Bonnevilles/Delta 88'*/Park Avenues that I want, but I would have to sell the ones I have. Without a dealers license that is a $500 penalty over 5 cars.
Best wishes to you if you get into this! Just be sure to go to your state dmv website & see exactly what the laws are.
Steve
Thanks again to JimmyFloyd for the great response for anyone who wants to get into this kind of thing full time. I've been doing this for about 6 months, just for fun and hopefully like he said in #6 to make ~$500 (or at least not lose money lol) from each car.
Sometimes you win; sometimes you lose. I bought a non-running Toronado Trofeo that needed the heads reworked because the previous owner overheated it & blew the head gaskets. Then when we got it running we found out why: the radiator was bad. Once that was replaced we test drove it and found out that the tranny didn't have 1st gear. I still have that car, waiting on a suitable transaxle.
I only buy GM cars with 3800 engines - because I love them & for the sake of parts interchangeability (hence my nickname on here
). In Tennessee you can only sell 5 cars per year that have been titled in your name before having to get a dealers license, so I'm almost at my limit.My only problem is that I'm addicted now! I can't stop scouring Craigslist for bargains and I keep finding Bonnevilles/Delta 88'*/Park Avenues that I want, but I would have to sell the ones I have. Without a dealers license that is a $500 penalty over 5 cars.
Best wishes to you if you get into this! Just be sure to go to your state dmv website & see exactly what the laws are.
Steve
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Posts like a Northstar
Joined: Oct 2009
Posts: 684
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From: Boston Mass
Just remember that you will have to stand by your sale if something happens to the car.
I would say to pass on the Sunfire. By the time you are ready to sell it, you will most likely own it for more than it will bring.
I would say to pass on the Sunfire. By the time you are ready to sell it, you will most likely own it for more than it will bring.
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Posts like a Camaro
Joined: Oct 2009
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Car flipping is hard.There are always unforseen problems that may occur.Like it has been said know what'* good to resale.Imports seem to do well. Younger crowd likes tuners.good reliability.Vechicles are strange. We had an older Chevy custom van aptly painted brown. It was sold after about 2 months That solder faster than a newer '90'* Merc Cougar w/only 64,000 showing on the clock. That was in really great shape. It took over a year to sell. We sell off a main road.Never know what someone may buy.
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