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  • Flip a car for profit?

    Would flipping a car be a good idea for some spare cash?

    Im 99.9% I could install a PC/Mac mini in a car with no issues. (Besides the bezel, God I hate making stuff like that.) But I could take a popular/oldish car that isn't wrecked and install a Carputer into it, work on the outer appearance of the car, and interior. Such as...

    -Refurbish the dash. Paint the dash a nice black. Put some white carbon fiber down on the dash like this, http://www.mp3car.com/show-off-your-...te-beauty.html (about 100$)

    -Get it a nice clean paint job. Slap some aftermarket rims, painted brake caliper. Tint the window's to a nice but legal percentage. Add a nice super charger. (About 2350$)

    -Add functional hood vents (To air the engine out and not just be for looks.), After market spoiler, and lowered springs. (About 440$)

    -Interior Glow, fun cupholder LED mod, USB ports in the back and fabricated into the door panel or middle console, Wire a 2010 Mac Mini to a touchscreen LCD screen. (About 855$)

    But If I can get a car AROUND 5,000 and spend ABOUT 3,305 on it (Total maybe around 8k). I could sell it for 15k buy another cheep 5k car and maybe do the same? It would take some time and with school even MORE time but I could pull it off.

    I was thinking about a BMW 3-Series 325i Sedan? Im not very sure. but would this be a good idea? (If not I would like to Most likely do it and use it as my own.)

  • #2
    i dont know if its the best times for car sales, but if one think is for sure, is that the rich guys will alwyas have money, so if you do this, go for high prices and aim for the rich guys (dunno what prices are high or low in your country). I Wouldend suggest it, in Europe standars though..( again i dont know anything about US)

    Comment


    • #3
      The thing you have to remember, is that for 90% of people, mods (including a carputer) detract from the value of a car. (Cost of car MINUS price of removing mods and returning to stock == value, go ask any car dealer they'll tell you this) So you're going to have to find one of the 10% of people who are looking to buy the mods that you are doing.

      You're MUCH better off buying a clunker for 2-3k, fixing it up, and selling it for 5-6k. A buddy of mine does that and make a decent profit out of it. I think you're going to wind up sitting on a couple of cars for months being unable to sell them.
      "stop with the REINSTALLS, what do you think we got some lame-o installer!!!" - mitchjs
      RevFE
      My Shop

      Comment


      • #4
        Remember, if you bought the car for 5K, you can pretty it up all you want but the miles and overall mechanical condition don't change. Most people are aware of this when they go to buy. 15K would be a pretty steep price point for a car that has age/mileage and mechanical condition from the 5K range. Find the right <25 male and you might pull it off but too risky if your only purpose is to make money IMO.
        My 2007 Ford F350 Work Log located HERE

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        • #5
          Fyi, there was a pimped out older 325 at an auction near here last month. It has an awesome paint job, rims, tint, aftermarket taillights, someone spent some money on it. It went for $1200. Know why? It had a super clean engine bay, nice interior, but guess what the odometer said? Over 250k miles on it. Perfect example of what you are likely to run into. Like phil said, most people aren't going to assume the car is in good mechanical condition just because of the looks. They will be practical about it, especially with the economy how it is.
          "stop with the REINSTALLS, what do you think we got some lame-o installer!!!" - mitchjs
          RevFE
          My Shop

          Comment


          • #6
            As a collector of certain old vehicles and their engine, I prefer STANDARD and not freshly painted (old an rusty is better), and I won't touch a reconditioned or modified engine, but I'll happily buy a worn out engine (at a higher price).

            Comment


            • #7
              Originally posted by OldSpark View Post
              As a collector of certain old vehicles and their engine, I prefer STANDARD and not freshly painted (old an rusty is better), and I won't touch a reconditioned or modified engine, but I'll happily buy a worn out engine (at a higher price).
              You're quite easily not in the 90 percentile of average car buyers :P
              "stop with the REINSTALLS, what do you think we got some lame-o installer!!!" - mitchjs
              RevFE
              My Shop

              Comment


              • #9
                Originally posted by malcom2073 View Post
                You're quite easily not in the 90 percentile of average car buyers :P
                Sorry - my bad. My very bad.

                I totally misconstrued the vehicle. (I must've just registered the "mini" )


                Apart from the general "golden" rule that expensive customization rarely (or never) recoups costs let alone effort, the astute buyer - cum- doer-upperer can turn quite a profit for a few days work & little expense. Or at least here they can.


                Sorry for my stupid misread and contribution.
                Not that my quick misreads are anything new.
                At least this time I only went off half-cocked.



                BTW Malcom - a very astute and relevant observation.
                I should delete my earlier reply but I love my own suffering.

                Comment


                • #10
                  Well I would never buy a used car with over 70k Miles.

                  I got the idea because I was on Ebay looking around and I see these 2012 Camaro's (Retail cost about 23k) sell for 30k with 18 bids because of its appearance mods. I the main idea is that people are lazy now days. People cant work on cars so they take it to the shop to get some BASIC mods done. If people were smart you could get a 23k 2012 Camaro Coupe and spend 2k for a Paint job + Rims.

                  Comment


                  • #11
                    Originally posted by malcom2073 View Post
                    The thing you have to remember, is that for 90% of people, mods (including a carputer) detract from the value of a car. (Cost of car MINUS price of removing mods and returning to stock == value, go ask any car dealer they'll tell you this) So you're going to have to find one of the 10% of people who are looking to buy the mods that you are doing.

                    You're MUCH better off buying a clunker for 2-3k, fixing it up, and selling it for 5-6k. A buddy of mine does that and make a decent profit out of it. I think you're going to wind up sitting on a couple of cars for months being unable to sell them.
                    +1

                    it's like buying a house, and it has water-damaged pink and purple unicorn wall paper. everyone's tastes are different(that wall paper would be the first thing to come down!)

                    a car that runs like crap can make a profit if you fix it up, make it look nice(give it a full detail--wash, buff, wax). but don't expect to get double or more of what you paid for it unless you bought it for less then $200.

                    if your really interested in flipping cars, always look into similar models that sold in the good condition--some will have higher values then others, but overall, i don't see a large market for it.
                    My OLD 2001 Mitsubishi Eclipse GT:
                    "The Project That Never Ended, until it did"


                    next project? subaru brz
                    carpc undecided

                    Comment


                    • #12
                      Originally posted by Carl Kempe View Post
                      Would flipping a car be a good idea for some spare cash?

                      Im 99.9% I could install a PC/Mac mini in a car with no issues. (Besides the bezel, God I hate making stuff like that.) But I could take a popular/oldish car that isn't wrecked and install a Carputer into it, work on the outer appearance of the car, and interior. Such as...

                      -Refurbish the dash. Paint the dash a nice black. Put some white carbon fiber down on the dash like this, http://www.mp3car.com/show-off-your-...te-beauty.html (about 100$)

                      -Get it a nice clean paint job. Slap some aftermarket rims, painted brake caliper. Tint the window's to a nice but legal percentage. Add a nice super charger. (About 2350$)

                      -Add functional hood vents (To air the engine out and not just be for looks.), After market spoiler, and lowered springs. (About 440$)

                      -Interior Glow, fun cupholder LED mod, USB ports in the back and fabricated into the door panel or middle console, Wire a 2010 Mac Mini to a touchscreen LCD screen. (About 855$)

                      But If I can get a car AROUND 5,000 and spend ABOUT 3,305 on it (Total maybe around 8k). I could sell it for 15k buy another cheep 5k car and maybe do the same? It would take some time and with school even MORE time but I could pull it off.

                      I was thinking about a BMW 3-Series 325i Sedan? Im not very sure. but would this be a good idea? (If not I would like to Most likely do it and use it as my own.)
                      In your head you probably think this could work, but in reality it most likely won't. As many others already said, it's very hard to recover modification costs when trying to sell a car.

                      And the market for cars like the ones you want to make are very scarce.

                      You're better off selling cars you know people want to buy - Good, safe, reliable, and affordable transportation that will get them from point a to point b.

                      - Jay

                      Comment


                      • #13
                        Originally posted by Carl Kempe View Post
                        Well I would never buy a used car with over 70k Miles.

                        I got the idea because I was on Ebay looking around and I see these 2012 Camaro's (Retail cost about 23k) sell for 30k with 18 bids because of its appearance mods. I the main idea is that people are lazy now days. People cant work on cars so they take it to the shop to get some BASIC mods done. If people were smart you could get a 23k 2012 Camaro Coupe and spend 2k for a Paint job + Rims.
                        The key to these Camaros and the fact that they're selling is that they are new and have these mods and they are most likely modified by serious professionals who are trusted by either the car dealer or the manufacturer. It's a lot different than what you want to do.

                        Just go where the money is and take your slice of the pie.

                        Comment


                        • #14
                          I agree with most of the above!

                          However, think about it this way.
                          You make your money when you buy!

                          You have a good idea, it just needs some adjustments.
                          Why not offer such a service first or find a "super" deal on the car that matches the "modder" market?

                          Do you already drive a car like what you're trying to do?
                          If not, you could start on your own and drive it as a "advertisment" or "for sell" type. And then do it the same for your next car.

                          I hang out at a Porsche site and almost every car that was a fixer/restore project has almost always ended up being better off bought "already" finished. The only benefit of spending more money on your own is that you get the benefits of it's "yours" versus some other guys "pat-on-the-back".

                          But still, why not just offer carpc services as a start?

                          Comment


                          • #15
                            You can not flip a car like this, it won't happen unless you plan on losing quite a bit of money. I flip cars all the time, maybe 2-4 a year. The only way to do it is to buy a very cheap car with mechanical issues, fix it and sell it for book value or less. You can not make money on mods unless you go directly after the target buyers. Meaning if you put a PC in a car and expect to recoup anything at all your pretty much stuck selling it on MP3car, but since the reason most of us are on here is because we already built carPCs you're not gonna have much luck here either.

                            To make money off of private sales you have to be very strict on what car you pickup and what you spend. I buy an $5-$800 beater with as little body/paint damage as possible, fix it, and sell it for no more than $2000. It's very hard to sell used cars for >$2000 (unless it's a really good deal) because if they have that much cash they would rather buy at a dealer. My personal vehicles are always modded VWs and when I sell one I either strip all the mods and sell the car stock and part the mods on forums or I strip some of the mods and sell the car on the forums. You never get all the money back on any mods so you have to decide what to sell the car with and what to part out.

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