flipping vehicles.

[sacdetailing]

Has any one tried it with any success? Buying cars with blown head gaskets, fixing them, detailing them to a full potential (paint correction, touch ups, maybe some painting, interior clean up) my dad is a mechanic (am learning). he will help me on the mechanical side. i do the detailing. anybody tried anything like it? or just bying cars, detailing them and selling them for more. i know this question was asked before but times change. thanks for al the help.

 

[Toymachine2009]

I havent personally but would like to do that.. and make a profit of 1k or 2k each car and do about 2-3 a month which your profit is like 4-5k a month doesnt sound like a bad gig.

 

[imported_advs1]

i did this with a buddy of mine that could get cars at wholesale auctions. made $4000 in one month with 3 cars. he fronted the cash to buy and any parts needed, i did the work and detailed. worked out well but he is sidelined right now, have to see when i can back to it or get my own license. it was good money, easy work and fun. we got a 300zx with a bad coolant hose, an explorer with a small fuel leak and a 2500hd chevy pu.

 

[Legacy]

Check with your state laws. Some states only allow you to buy and sell a few cars a year before you need a licence.

 

[Jpostal]

I've done it a few times, but you have to be careful not to get in too deep with repairs and other costs. Where I live a private individual buying a vehicle has to pay 12% tax on the purchase price which comes straight out of the gross profit. I am not mechanical so I look for vehicles that run fine but just need a good clean up. A real good interior detail and a basic exterior recon detail is all you need to do...you wont see a penny more for spending time on paint correction. Where I live you can only sell 5 cars a year without having a dealer license.

 

[WAS]

Check with your state laws. Some states only allow you to buy and sell a few cars a year before you need a licence.

Not only a license, but in some areas you need to claim sales on your personal income tax. Unless you're running it through a business. Which would basically make you a used car dealer.

 

[Dan]

"Curbstoners are scam artists. State laws prohibit private citizens from selling multiple cars or vehicles other than those titled to them. Curbstoning involves individuals who ignore these laws meant to protect consumers from unlicensed, unscrupulous sellers. Frequently, they sell vehicles reputable dealers won't touch-those with hidden problems in their pasts-problems that can affect both the safety and the value of these vehicles." -From the CarFax website



To do what you want to do requires a dealer license. In most states, to get that you need insurance AND a commercial address. To do this on the up and up, you are looking at slim profit margins. Most dealers don't send good cars to auctions, they sell them to other dealers or sell them on their lot. The real crap ends up at most of the local auctions. Now some of the bigger auction houses like Mannheim will have nice clean cars, but then you are bidding against some real competition who specialize in volume. Not saying it can't be done, but its a crowded and hard business to get into.

 

[WAS]

"Curbstoners are scam artists. State laws prohibit private citizens from selling multiple cars or vehicles other than those titled to them. Curbstoning involves individuals who ignore these laws meant to protect consumers from unlicensed, unscrupulous sellers. Frequently, they sell vehicles reputable dealers won't touch-those with hidden problems in their pasts-problems that can affect both the safety and the value of these vehicles." -From the CarFax website

Yeah, but this is also a bit of "fear mongering" on the part of CarFax, because, well, the whole idea of CarFax is finding out something "bad" about a vehicle that you're looking to purchase. If every single vehicle was sold with honesty and integrity, CarFax wouldn't exist, therefore it's only expected marketing of them to write things such as that.



It might vary from state to state, but here in Canada, there's a limit before you have to start filing taxes on your earnings from vehicles (I believe it's 3 vehicles per year you're allowed to sell privately). If the vehicles are legally registered to you, and you're under the legal limitation of amount of vehicles sold, I don't see how anyone could "force" you to get a dealers license / insurance / commercial address.

 

[LS1-MEX]

a buddy of mine does that and make s damn good money....he hits up all the tow yard auctions in oakland and takes them to your local valero car wash (wash/vacuum/windows/tire shine) for $15 and puts them out on the street that very same day....he has never had a car sit for longer the a weekend..buy them for $200 spend $15 and sells them for $800.

 

[ltebow34]

I would not rely on detailing to bring in majority of profit on selling cars. We all know how bad detailer and dealership can be and the reason they sell car is because they buy cheap, work cheap, parts cheap and detail cheap to make most money. If you can find cheap cars and you an do labor yourself correct way you could profit well tho

 

[EcoAuto]

I have a buddy who has been doing just buying a flipping..no work needed. He buys slightly modded, if modded cars at all...s2k....chevy full size, newer GTO and now he has an rsx typeS. He buys them from folks that need out of a payment or repo is in future and then turns around and sells them for kbb or so. Seems to be pretty consistent w/ it and profitable! Good luck