Originally Posted by malcom2073
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.
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.
Originally Posted by Carl Kempe
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.
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.
Originally Posted by Carl Kempe
Just go where the money is and take your slice of the pie.
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?
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.
In my opinon, I prefer to buy a new car if I have enough money rather than to decorate and recondition my car with so many things,it is time-consuming and money-consuming.
All great points. Me personally, I buy cars that dont need much of anything other than a good bath, clay bar, compound, glaze, and wax. And some shampooing of rugs and vacuuming.
Originally Posted by blazini
Not as much profit margin, but you can turn them around quicker. Maybe when I find a mechanic I can rely on and who won't rip me off, I'll go for the car needing some fixing that most owners don't want to bother doing so they sell.
For now, cars that run fine that owners just dont want anymore because they're getting something new and know they won't get much from the dealer if they try to trade it in.
Yeah because you read this thread - not. The whole point of his original post was to buy the car, do all the mods to it, then sell it for a profit.
Originally Posted by summerpink
Not trying to be a wise ***, but you obviously haven't read any posts in this thread or you wouldn't have written what you did. lol