Flipping Cars For Profit; Feasible?

Discussion in 'Planes, Trains & Automobiles' started by Burnoutt, May 27, 2013.

  1. Wassup GC. I've been thinking about a tiny "business venture." I live in a small city, no big cities for about 2 hours in any direction. As such, the market for cars here is inflated, to say the least. (An example; my car. 2006 cobalt LS with 150,000 KM (93,000 miles) was about $4500.. I'd easily get $6000 for it here locally.
    I was thinking; I could sell my car, purchase another, use it for a bit & fix it up with cheap gimmicks (shiny head-unit, speakers, etc etc..) rinse and repeat. Make some extra money, get to drive a bunch of different cars.. would be a cool experience overall.
    The only downside I can see would be the tax I'd have to pay, along with ownership & licensing fees. Might make this not so worth it.. thoughts?

  2. Not really a living, depending on what cars n what not your sellin, my mates dads a bus driver and has done this on the side for about 20 years.. Gets him a couple holidays abroad each year I say why not man just don't get bumped! Lol
    Eh, just looking to make some extra money on the side with it. I'm a full time student with a part-time job (20+ hours / week + college + placements = fuck meeee)
    It'd be nice to make even an extra few hundred a month, less debt for school ya know?
  4. #4 mercinariesgtr, May 27, 2013
    Last edited by a moderator: May 27, 2013
    i know a less legitimate but more secure, easier way to make just a few hundred extra a month. What im talking about may or may not allow you to smoke for free if you get what im talkin about. Especially if you are at college, kids always be burnin
  5. Not a good idea, all it takes is a lemon or two and boom any profit you've made is gone and you've got a new lawn ornament
  6. buy cheap, do the work your self. I know a person who does this full time and does well. He is a mechanic and does all the work. He has home made signs all over the place
  7. u gotta know what ur doing to fix them. if u do u can make sum $ . if not beef supreme is right
  8. it makes more sense to buy cars with a "cult" following and part them.
    i've done a bit of it and made o.k. money. you just have to keep your eyes open at all times. best money i've made lately was after seeing a bmw e30 convertible with a hardtop. asked how much they wanted, they didn't even realize what they had. sold the hardtop for twice what i paid for the whole damn car, and i still have the rest of it to part out or keep the decent stuff from and then junk the shell.
  9. Eh, I wasn't planning on buying beaters that need work & fixing them up myself; I'm not too great with cars. Replacing a headunit, changing oil & fluids & speakers is about the capacity of my knowledge.
    Was going for the under $5000 niche. There are literally no good cars in my area for under $5000 (by good I mean modern, low mileage). Planning on buying something that is already safetied, e-tested, and set.. then bringing it to my area and selling for profit.
    There's tons of cars a few hours away that are year 2006 or newer with under 90,000 miles for like $4000. A car like that local STARTS at $6000.
    Easy money no?
  10. It really depends. Something like that, I wouldn't rely on for much money and you could lose your ass pretty easy.
    Even at 90k shit can still go wrong. My uncle had a car on his lot with 5 miles from the factory and it spun a rod on a test drive. All it takes is one car like that and you're out 5k on a now "mechanics special" that you can't fix and there's a lot more to car then just fluid changes.
  11. keep in mind you will have to pay your state to get the vehicles titled in your name before you can resell them. also keep in mind most people scan craigslist for months on end, and you will get calls/emails asking why the price has gone up. i also don't know why a car that new would need a new head unit or speakers - that kinda screams "teen driver". a new stereo isn't a bargaining point in my opinion.
    i didn't say anything about buying "beaters" and fixing them up for resale. buy older cars with their own "following" and part them to the community. when you're done, you still have a shell to take to the junkyard for a couple hundred dollars.
  12. My dose this just clean the car up an make it look really nice you will be surprised.but its a waiting game.
  13. My dad has done it before over the years. He buys older cars for about 1000-1500 and fixes and resells them.
  14. theres money to be made in the car flipping business you just have to be smart with your investments.  Don't buy cars with a ton of rust, that will take time and money that you don't wanna waste.  if you're smart with your money/purchases you'll make some good money
  15. #15 bob barker, Jun 18, 2013
    Last edited: Jun 18, 2013
    I have thought about this and here is what I have come up with.
    1. You have a car that you drive period. These other cars you buy, fix them and sell them. No need to register and tag.
    2. I know how to work on 92-95 honda civics(for the most part). So I would only buy those cars. Plus sooner or later extra parts will start to pile up that you can use later.
    3. A paint job can make a shitty car look nice. Youtube $50 rustoleum paint job. I did this to my car and it turned out good. I also learned a few things  in the process so the next timeI do it it should come out better.
    4. Practice going on Craigslist and finding a car that you think you can flip. I would type in civic blown head gasket  or just honda civic and search until I find a gem in the rough.
    5.If you want to work on anything try talking to a dealership and buying old trade ins.
  16. I agree with everything but buying a car with a blown head gasket. A blown head gasket can completely ruin an engine. The damage can range from a small leak causing a cylinder not to fire correctly to that cylinder being rusted up with melted rings to the whole engine being rusted and gunked up. Try to get something that runs decently if you must flip cars; but like I said it's not a good idea.
    Also one tip, learn what color fluids should look like; and I mean all of them, people will throw additives in engines, transmissions, power steering, coolant, you name it! It's a temp fix so they can hide a problem and get rid of the car quickly.
  17. #17 TinManThaBoyBoy, Jun 22, 2013
    Last edited by a moderator: Jun 22, 2013
    i kno niggas who do this .. they dont do it in the most legal ways tho :laughing:
    i always thought itd be cool to flip shit tho.. houses, cars, w.e. it is..
  18. i know a dude who does this and he makes bank. He lives with parents though. 
    I wouldnt recommend it to somone who lives on their own.
  19. like @[member="docleary"] said.  buy a car with a cult following and part them out.
    A friend of mine bought a jetta to poach the front end for his old car and parted the rest out and made a couple grand profit.
  20. #20 docleary, Jul 10, 2013
    Last edited by a moderator: Jul 10, 2013
    i recently bought an e30 vert that had a hardtop for $600 (needed fuel pump). sold the hardtop for $1400, stripped it down, sold the interior/auto transmission, and took the shell to a junkyard and got $200 from that. now i'm sitting on maybe $1000 worth of parts, and have already made $1000.

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