2o6 Flip Car thread!

[FoMoJo]

You have a much bigger appetite for risk than I do. Good luck

Pretty soon he'll be flipping apartment buildings.

[2o6]

Update: I still have this Dodge. No one wants this thing.

[AutobahnSHO]

?? I'm surprised.

[ifcar]

Update: I still have this Dodge. No one wants this thing.

At least this was one that built in a decent profit margin, right? That leaves some room to haggle.

I wonder what CarMax would offer. Have you ever checked that with any of your flips?

[2o6]

At least this was one that built in a decent profit margin, right? That leaves some room to haggle.

I wonder what CarMax would offer. Have you ever checked that with any of your flips?

Carmax is trash

[2o6]

I still have this Dodge. No one wants this damn thing.

[AutobahnSHO]

I still have this Dodge. No one wants this damn thing.

ruh roh!

[giant_mtb]

I still have this Dodge. No one wants this damn thing.

I wouldn't want an FCA product with 100k+ miles, either.

But seriously, I hope you can offload it soon...sucks to have all that money tied up in it.  Have you had many people bite on it?  What makes them not want it?  Do they come check it out and then just go "meh, nvm."

[FoMoJo]

I still have this Dodge. No one wants this damn thing.

Gotta be some hapless MOPAR fans down there needing a cheap SUV.

[2o6]

I wouldn't want an FCA product with 100k+ miles, either.

But seriously, I hope you can offload it soon...sucks to have all that money tied up in it.  Have you had many people bite on it?  What makes them not want it?  Do they come check it out and then just go "meh, nvm."

No ones even called, or checked it out in person.

(Also technically this is a Cerebus/DCX product)

It's also a two row. And that lack of 3rd row is killing its appeal.

[2o6]

Dodge is sold.


Sold - $4000.

Profit ~$200.





Well, could have been worse.

[giant_mtb]

Nice to have that off your hands, at least!

[2o6]

I can never really stop


I bought this yesterday -








2008 Scion xD (1.8L, 4AT)


Ok, i'm always weary about buying cars that have been for sale more than like, an hour. This Scion xD was for sale for a month, and it was 150 miles away, in Mentor, OH (near lake Erie). The guy said the car had "low compression" and I was expecting to tow the car back and replace the engine.


However, the car starts right up, performance is fine, no CEL, no coolant loss or oil loss (at least, none that's not normal for a car that has 197K miles!).


The ignition coils don't look like theyve ever been touched, so I don't think his mechanic ever did a compression test. The car drives fine. So fine, that i drove it back 150 miles from Cleveland to Columbus with no issues. AC is ice cold. No vibrations in wheel. Stops well.


With that said - the car's body is from Cleveland, so road salt makes it look much rustier than a Central or Southern OH car. The rockers have rust, and a little bit of rust in the rear wheel wells. Also, it clearly has been hit and repaired up front at some point of it's life.


BUT. Everything important works. I'm not going to do much but some routine maintenance (looks like nothing has ever been done on this car) then detail and sell.



Specs - 2008 Scion xD, 4-speed auto 1.8L, 197K miles.



Purchase price, title, plates - ~ $1200

Spark Plugs - $25 (this is denso brand ones that are iridium. I could save more money by going off brand)

Transmission flush ~$40 for Dextron Toyota ATF (the trans isn't always the most responsive)

Oil Change ~30 (with this amount of miles, i'd feel more comfortable running heavier oil. 0w20 seems really light)

Detail ~100

Motor Mount - $108 (the one I saw online that replaces it is this - there's no generic alternative either)

Accessory Belts? ~$10

Labor ~ 200 (if that)

Total Invested - $1713

KBB puts it at around 3K, but my goal is a $1000 profit. Despite the body and miles, a solid running Toyota is still worth $2500+.

[2o6]

ALRIGHT


Mechanic says the car has low compression on Cyl 2. However, he doesn't think the car is worth a new motor. Also, the car runs very well. No Overheating, no check engine light.


He thinks I should just sell it as-is to someone.



So I'm gonna list it for like $2500, and sell it for 2000-2250.

[giant_mtb]

What does low compression imply for further down the road?  Bad rings?

[CaminoRacer]

Do a little water injection and clean the rings off.

[2o6]

What does low compression imply for further down the road?  Bad rings?

Potentially, but I don't care.

Do a little water injection and clean the rings off.

Hes gonna do another test. He said his tester may be broken (it was reading compression when there was none at all, then it wouldn't build or stay).

[2o6]

Sold.

$2000.


$800 profit.

[AutobahnSHO]

Sold.

$2000.

$800 profit.

What do you guess your profit/hr spent averages out to on the different flips?

[FoMoJo]

Sold.

$2000.


$800 profit.

That was quick.  You did nothing to it?

[giant_mtb]

Sold.

$2000.


$800 profit.

Niiiiiiice.

[2o6]

That was quick.  You did nothing to it?

Breakdown

Purchase Price - $1100


Tax/Title - $75

Touchless Wash - $6

[12,000 RPM]

102 psi compression is low but not crazy for 200K miles on a low performance 4 banger

Good stuff mayne

[2o6]

102 psi compression is low but not crazy for 200K miles on a low performance 4 banger

Good stuff mayne

Yeah, by the time she's done with it, it'll be used up and done.


The car runs fine.

[2o6]

I can't pass up any reasonably priced Toyota


2006 Toyota Corolla LE (1.8, 4AT)


Timing chain snapped.


158K miles.

[mzziaz]

That should be an easy sell. What did you have to give for it?

[2o6]

That should be an easy sell. What did you have to give for it?

$500 USD.


It's a steal.

KBB is $4150, with real pricing being maybe slightly higher. These Corollas hold their value.


Pricing estimate - preliminary. I'll obviously find out what else it needs after it's running and rolling.


Purchase Price - $500

Tax/title - $49.50

Engine - $600

Labor - $500 (my mechanic is good at these; he can have one in and out and running with no codes in about 8 hours.)

Detail - $100

Total invested ~ $1750.



What it may need -

Car has been sitting six months, these tires may need rebalanced.

Car has been sitting six months, brake rotors may be very pitted.

Sometimes the 1ZZ burns a lot of oil and the residue and heat ruins the catalytic converter, and out of the three Pontiac Vibes I had (Mechanically identical to this corolla), two of them I had to replace the cat.


I'm not trying to go over 2K invested. I'd love to make a nice 2K profit again. Those feel really nice to do.

[giant_mtb]

To do an engine swap in a day...man. 😥

[Gotta-Qik-C7]

That radio install is top notch! LOL!!!!!

[2o6]

That radio install is top notch! LOL!!!!!

Lol, right? I should prolly budget for getting the correct surround for this thing.


He's also throwing in the stock radio, too.

To do an engine swap in a day...man. 😥

My mechanic is a goddamn machine. But also, these cars are super simple.