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Discussion Starter · #1 ·
Hi guys - I dont know if anyone has any experience in doing this but this is something my husband and I have thought of doing....buying good cars, for cheap (hopefully) and reselling to make a 1000 profit give or take. We are in the Southeast and right now with gas prices on the incline people in this area seem to be wanting trucks but no diesel and gas efficient vehicles. I was just wondering has anyone else done this? In our state we can buy and sell 5 cars in each of our names. So that could leave us with 10 to sell, ideally.

Just wondering thoughts....? Are their any cars that have better success at this process? How about buying - buy on craigslist and sell on ebay? Or vice versa, etc?

Any help would be great.
 

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Discussion Starter · #3 ·
I know what you mean - already running into that. But I did find this - 1997 Mustang V6 - auto - mint condition 83,000 miles for 3000?
 

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I got a friend lives beside me. He goes on creigs list and also we have a paper or book that comes out every week. Nothing but cars, boat what have ya to sell from not dealers . He sees a deal , calls and most time a person just needs money. He offers a price , goes get it , cleans it up . He places them in his front yard . Sell sometimes 4 or 5 a week. Nop he is not a dealer. He gets them to sign the title , as an open title. Then sells it. People he buys signs title when he picks it up. Catch to that is you need a notery to stamp it or let the buyer deal with it. I know sometimes he makes over 3000 , mostly on trucks.
 

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Discussion Starter · #6 ·
Wow thats awesome!

On the 97 Mustang when I did the KBB value with its options it came up pricing at 4500 and 5400 retail. If I buy at 3000 no chance selling for 4000?
 

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There are a few folks around here doing that. They each have a different 'system', and rarely buy through ads. The guy closest to me leaves notes on windshields of cars or trucks that meet his checklist (dirty, minor dings, dull paint or headlights, bald tires, etc). He frequents the retirement and college communities. This way, he has a price in-mind, and just tells them his firm offer when they call. He is surprisingly successful with his offers, and then simply takes the vehicle, gives it the cosmetic once-over, changes oil, etc and out it goes. His system is like house flipping to get the most solid foundation that will just need attention to cosmetics. He also knows exactly what it will cost to do it before he makes any deal as there are lots of hidden 'gotchas'. It's work and they earn their money, but it's good if you treat it like a real business.

David
 

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Just run ads that you buy cars for cash and let them come to you. People that need to sell and sell fast is the key to getting the car cheap.
 

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Wow thats awesome!

On the 97 Mustang when I did the KBB value with its options it came up pricing at 4500 and 5400 retail. If I buy at 3000 no chance selling for 4000?
KBB is WRONG 90% of the time and Nada is also....

I see only finding a dude/chick willing to pay $4k for a 15 year old car has to be in the 27 to 29 year old range and grew up in one or had their first in car "Experience" in one ;)

I'm just not hip on that much money for so little car value, at 15 years things are ready to take a crap, regardless of the mileage...
 

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Discussion Starter · #10 ·
Oh, how my heart and mind are crushed. I thought we found a really good thing there with the mustang especially with it having low miles for that year and being in mint condition. Darn.
Is their any reliable value for car source out there?

What would you guys think would be best cars to turn a profit on?
 

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Hey Aimcat,

One of the things I didn't see posted in response is the reason that this is probably not a good idea right now. Obama's "Cash for Clunkers" program took a LOT of perfectly good cars off of the street and destroyed them. This drove the cost of the rest of the vehicles.... good and bad.... through the roof. Before this misuse of the taxpayers dollars you could find good running used cars that needed a little TLC for $1000... now those same cars are twice as much. The only way you might really be able to make any real money without spending all of your time looking for "bargains" would be to get a dealers license in your state that would allow you to buy at wholesale auctions like the used car dealers do.then you have to deal with business licenses, taxes, etc....

Keith
 

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Discussion Starter · #13 ·
Thanks Keith. Yes, I agree the cash for clunkers deal really did a number on those cars!!! Ughhh, don't even get me started on Obama...haha.

We actually have 2 local auto auctions that are open to all. We have went a few times and actually saw some really good deals. Like a VW Passat for 1100, Kia Optima for 900, etc. So maybe we should stick to those versus weeding through all the Craigslist bull. I have been on CL now for 4 days searching for the RIGHT deal. I thought that I found it in the Mustang. Everyone else is just asking top dollar for their POS cars and then they dont even take good pictures of them - they take a picture with MacD's bags and food in the seats and of the car parked in a mud hole. WTH!
Ok Im done ranting.
 

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You want a great idea to turn a profit this may work for ya if you can find the items. There is a great market still in high performance motors and its componants , trannies,carbs, rear ends and you get the picture. If you can find a man who has collected near all his life or a long time saving high po stuff, then buy it all for one money. Go through it all if you find alot in one spot. If you find it and donot know what the pile is worth or not into hipo stuff then it may not be for you.
I took $ 5800 and bought 2 complete motors, One was a true boss 302 ,other was a bogus boss, pile of 427 and 428 heads, 2 top loaders, 3 aluim rare intakes 4 sets of boss 30 over pistons, one racing c 6 tranny, 2 4200 stall converters,5 sets of galaxie hub caps with spinners, list of other stuff, you get the picture. I sold all that at swap meets and paid for a r code mach 1 you see I post pictures of . I have NOTHING in that car but what I done to it sence I bought it. Now I have spent over 30,000 for car and what am doing now but only money I made from buying and selling

Hard to find the stuff and you gota have the money when it pops in your face. I live around racing country and it pops up alot . My thing is finding the money instead of placing it back in cars.
I know now where a 68 roadrunner is that runs in low 6s. Along with car complete is 20 or so more motors , all hipos. Stack of heads and rear ends for 16,000. Mopars sell better than fords. That could be busted up fairly well to make a bundle. Now wana lown me say 20,000 ? :D
 

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I've had good luck flipping cars in the past.

It helps if you can do repairs yourself.

One of the keys is to know what cars sell and what ones don't. This varies by area. Also what is wrong and what it will cost to fix.

I wouldn't bother with a v-6 mustang, unless I could get it for under a grand and it needed a trans or head gaskets.

Where I live 4 wheel drives always sell easily.

My last one was a suzuki sidekick (I know, P.O.S. right?) 4x4.

Picked it up for $500. I installed a rebuilt cyl head, cheap stereo, seat covers etc for a total investment of $1200 and 2 weekends worth of work. It sold in less than a week for $2100 cash.

Lotsa dope growers live in the hills around here and they love small 4x4 rigs.
 

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Discussion Starter · #16 ·
My husband and I can def do the cosmetic things but engine wise we are both a little clueless....we know basics, but not experts.

Has anyone bought cars off of Copart? Seems some decent cars that need a few things but really cheap? There is a lot about an hour from home.
 

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Flipping for a profit means getting them for a low price.
Try checking into the local impound lots for auctions,
You can get some real good deals on cars that do not need much work.
 

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Discussion Starter · #18 ·
Questions for mustang gurus.....found locally a very good condition mustang cobra 2 1976 model. 96000 original miles, beautiful paint job. $2800. Would this be a good deal to flip on ebay since you would reach a broader market into classics like this?
 

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Discussion Starter · #20 ·
Would anyone be able to email me directly so I can email you pictures of it and tell me what you think - this is hard to commit to because if we buy we could be stuck if its crappy!!! [email protected]
 
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