2o6 Flip Car thread!

Started by 2o6, September 11, 2012, 10:11:57 AM

Gotta-Qik-C7

I can see it selling for $750- $850 in it's current condition. It's almost winter here in Northeast Ohio and Smugs,AKA winter beaters, like these will be snatched up like hot cakes!!! And more than likely the people calling already have a dead one sitting around full of donor parts. And after they switch out the parts that non running 88 will be sold to Pull A Part for about $350!
2014 C7 Vert, 2002 Silverado, 2005 Road Glide

2o6

I have about eight people who have expressed interest in the car since I have started the ad about an hour ago.


- One is coming to look at it today; cash in hand.

- another says she gets paid next week



Quote from: Gotta-Qik-G8 on September 11, 2012, 01:15:22 PM
I can see it selling for $750- $850 in it's current condition. It's almost winter here in Northeast Ohio and Smugs,AKA winter beaters, like these will be snatched up like hot cakes!!! And more than likely the people calling already have a dead one sitting around full of donor parts. And after they switch out the parts that non running 88 will be sold to Pull A Part for about $350!

Yep, might do it again next week. My neighbor died, and her Focus needs a home. Her kids aren't sure what to do with it.

2o6

Quote from: thecarnut on September 11, 2012, 01:14:47 PM
Sounds like a better deal than your parents' Rendezvous!

haha! It is because they didn't trade anything in and nothing was put down on the loan.

Speed_Racer

Color me surprised.

Nice work taking the risk - hope it pays off quickly.

Raza

Quote from: 2o6 on September 11, 2012, 01:16:43 PM
I have about eight people who have expressed interest in the car since I have started the ad about an hour ago.


- One is coming to look at it today; cash in hand.

- another says she gets paid next week



Yep, might do it again next week. My neighbor died, and her Focus needs a home. Her kids aren't sure what to do with it.

Hey, look at that.

This is one case where I'm glad to have been proven wrong.  Keep at it, but don't get in over your head.
Quis custodiet ipsos custodes?
If you can read this, you're too close


2006 BMW Z4 3.0i
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Quote from: the Teuton on October 05, 2009, 03:53:18 PM
It's impossible to argue with Raza. He wins. Period. End of discussion.

MrH

Quote from: 2o6 on September 11, 2012, 01:16:43 PM
I have about eight people who have expressed interest in the car since I have started the ad about an hour ago.


- One is coming to look at it today; cash in hand.

- another says she gets paid next week



Yep, might do it again next week. My neighbor died, and her Focus needs a home. Her kids aren't sure what to do with it.


Lol!  Taking advantage of dumb, poor people and people in mourning!  If this ends being a consistent way to make some cash, more power to you. :lol:
2023 Ford Lightning Lariat ER
2019 Acura RDX SH-AWD
2023 BRZ Limited

Previous: '02 Mazda Protege5, '08 Mazda Miata, '05 Toyota Tacoma, '09 Honda Element, '13 Subaru BRZ, '14 Hyundai Genesis R-Spec 5.0, '15 Toyota 4Runner SR5, '18 Honda Accord EX-L 2.0t, '01 Honda S2000, '20 Subaru Outback XT, '23 Chevy Bolt EUV

SVT666

My boss bought a PT Cruiser at the auction for $3200 and turned around and sold it in 4 days for $5800.  It just seems that every time I need to sell something I get screwed.

2o6

Sold - $725.


After fees and such, I am looking at a profit of $125.



Not the greatest, but still great considering

- It was an impulse buy; I had planned to come back with a great little Cavalier. I didn't think the Olds would be a good car

- I did so many things backwards on this process.

Eye of the Tiger

2008 TUNDRA (Truck Ultra-wideband Never-say-die Daddy Rottweiler Awesome)

2o6


SVT666


2o6


Eye of the Tiger

Don't forget to pay your sales tax. :devil:
2008 TUNDRA (Truck Ultra-wideband Never-say-die Daddy Rottweiler Awesome)

2o6


SVT666

You have to pay the sales tax?  Here, the buyer pays it when they register the car.

2o6

Quote from: SVT666 on September 11, 2012, 05:20:24 PM
You have to pay the sales tax?  Here, the buyer pays it when they register the car.

I have to pay the tax from when I got it at auction.


--------------


I have learned a lot in this brief little process.


- I need to bring someone with me, even if they don't know about cars. If they know about cars, they can educate me on stuff I'm unsure about, especially since the Auction adds 15-20 cars to the run list that morning (which means I need to be on my feet as to what might be a deal). If they don't know about cars, they can stop me from getting caught up in the moment (which happened with this car)

- Bring more money, and wait until the end. The profit margin on such a cheap car is low because there's usually something wrong with it. The olds is mechanically sound, but the body is bad. The Alero I wanted looked prettier, but the 2.4L was burning oil. The Cavalier I wanted needed no work, but it went for more money than I wanted to pay.

- Waiting until the end is advantageous; this auction has several auctions going at once, the Public being the first of the day. The Public auction starts at 9AM, but the dealer's auction doesn't start until 9:30. However, they start the dealer's auction on another lane (the "Tow" cars are also on another lane). They don't wait for the public auction to end; which means for about 30 minutes, some dealers are hawking the few desirable cars at the public auction. These dealers, however, are usually those "Buy Here, Pay Here" lots who don't really care how much they pay at auction; they make their money from the outrageous financing terms. This means that the cars in this short 30 minute window are usually a little higher than the ones at the end of the auction.

- Clean the car before you sell it; nothing more awkward than showing a car which still has auction stickers on it.

- Drive the car for a couple days; one to add miles, also to see how it'll act before it gets sold to a customer.



I can't wait until I can do it again, but it probably won't be for a little while. Maybe spring semester.

Gotta-Qik-C7

Don't go after the new year. All these Tax Time Ballers will be ther running the prices up!
2014 C7 Vert, 2002 Silverado, 2005 Road Glide

2o6

Quote from: Gotta-Qik-G8 on September 11, 2012, 09:42:01 PM
Don't go after the new year. All these Tax Time Ballers will be ther running the prices up!


Ach, I forgot.

Vinsanity

Quote from: Gotta-Qik-G8 on September 11, 2012, 09:42:01 PM
Don't go after the new year. All these Tax Time Ballers will be ther running the prices up!

could also be an opportunity to sell at a higher price, too

Gotta-Qik-C7

Quote from: Vinsanity on September 11, 2012, 09:57:20 PM
could also be an opportunity to sell at a higher price, too
that's true but he'd still need to get his cars before H and R Block hands out those checks!
2014 C7 Vert, 2002 Silverado, 2005 Road Glide

2o6

Quote from: Vinsanity on September 11, 2012, 09:57:20 PM
could also be an opportunity to sell at a higher price, too


I suppose If I get a car in December, come early January, it'll be ready to go.

Eye of the Tiger

2008 TUNDRA (Truck Ultra-wideband Never-say-die Daddy Rottweiler Awesome)

Gotta-Qik-C7

206 are you going over to Penn or did you stay in Oh?
2014 C7 Vert, 2002 Silverado, 2005 Road Glide

2o6

Quote from: Gotta-Qik-G8 on September 11, 2012, 10:30:04 PM
206 are you going over to Penn or did you stay in Oh?

Akron Auto Auction.


Penns too far. Cleveland is too expensive, as is Canal Fulton.

MrH

2023 Ford Lightning Lariat ER
2019 Acura RDX SH-AWD
2023 BRZ Limited

Previous: '02 Mazda Protege5, '08 Mazda Miata, '05 Toyota Tacoma, '09 Honda Element, '13 Subaru BRZ, '14 Hyundai Genesis R-Spec 5.0, '15 Toyota 4Runner SR5, '18 Honda Accord EX-L 2.0t, '01 Honda S2000, '20 Subaru Outback XT, '23 Chevy Bolt EUV

Eye of the Tiger

2008 TUNDRA (Truck Ultra-wideband Never-say-die Daddy Rottweiler Awesome)

SVT666

You can get cars absolutely dirt cheap in the last hour or two of the auction.  Most people have left by then and you can pick stuff up for a couple hundred bucks.

Eye of the Tiger

If I had a parking area I would aquirr a car from an auction. But first I would need my truck and trailer with which to tow my auction car. Forget the whole thing.
2008 TUNDRA (Truck Ultra-wideband Never-say-die Daddy Rottweiler Awesome)

2o6

Quote from: Eye of the Tiger on September 12, 2012, 12:17:38 AM
If I had a parking area I would aquirr a car from an auction. But first I would need my truck and trailer with which to tow my auction car. Forget the whole thing.

I drove mine home with no plates.

cawimmer430

Why didn't you get a proper Oldsmobile 88? A 1982 Olds 88 is a proper Oldsmobile.  :praise:

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