Flipping Cars for Profit
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Original post by vuvuzela
I'll mainly be focusing on cheap jag xtypes (luxury mondeos) and Mercedes c class 98-03, .
Jags, Id strongly recomend against them, their is a reason they sell for <£1000. ~10+ year old examples tend to be riddled with electrical and corrosion related issues and they are a nightmare to fix up. Myself and my friend who I was trading with made the mistake of picking up an on S-type 3.0 V6 sport. The hanger rails for the tank where rusted, front xmember rusted, blotches of corrosion along the underside. Electrics, it kept blowing fuses for the 12v/heated seat/electric mirror circuit which we could never figure out (sold it with a new fuse which lasts a week at best). It also needed pretty much every sensor in the engine replaced once we started disturbing it (MAF, Crank, exhaust O2 where all chucking up OBD errors).
Although contrary to that we also picked up a mid 90s jaguar XJR, which turned out to not need much (a few rust patches), although they where a nightmare to sell, my friend ended up keeping it and is still driving it at 240k ish miles. Ultimately they are not good cars to work with.
If you are just starting out trust me, small Japanese hatchbacks is what your wanting to work with. Micra's, Yaris's, Suzuki's & Daihatsu's. I for on also like working on VAG units although many hate them. Small cars have a low operating cost and tend to sell at auction for no money with only a little bit of work required for a good trade sale profit. Also as I said they shift quickly, big saloons will sit for weeks simply because most of the market for those cars dont want a ropey 10 year old motor, however small hatchbacks are widely needed as basic, cheap transportation. Although you WILL have better luck with vectas/Mondeos than you would anything "luxury".
Original post by CAElite
Jags, Id strongly recomend against them, their is a reason they sell for <£1000. ~10+ year old examples tend to be riddled with electrical and corrosion related issues and they are a nightmare to fix up. Myself and my friend who I was trading with made the mistake of picking up an on S-type 3.0 V6 sport. The hanger rails for the tank where rusted, front xmember rusted, blotches of corrosion along the underside. Electrics, it kept blowing fuses for the 12v/heated seat/electric mirror circuit which we could never figure out (sold it with a new fuse which lasts a week at best). It also needed pretty much every sensor in the engine replaced once we started disturbing it (MAF, Crank, exhaust O2 where all chucking up OBD errors).
Although contrary to that we also picked up a mid 90s jaguar XJR, which turned out to not need much (a few rust patches), although they where a nightmare to sell, my friend ended up keeping it and is still driving it at 240k ish miles. Ultimately they are not good cars to work with.
If you are just starting out trust me, small Japanese hatchbacks is what your wanting to work with. Micra's, Yaris's, Suzuki's & Daihatsu's. I for on also like working on VAG units although many hate them. Small cars have a low operating cost and tend to sell at auction for no money with only a little bit of work required for a good trade sale profit. Also as I said they shift quickly, big saloons will sit for weeks simply because most of the market for those cars dont want a ropey 10 year old motor, however small hatchbacks are widely needed as basic, cheap transportation. Although you WILL have better luck with vectas/Mondeos than you would anything "luxury".
Although contrary to that we also picked up a mid 90s jaguar XJR, which turned out to not need much (a few rust patches), although they where a nightmare to sell, my friend ended up keeping it and is still driving it at 240k ish miles. Ultimately they are not good cars to work with.
If you are just starting out trust me, small Japanese hatchbacks is what your wanting to work with. Micra's, Yaris's, Suzuki's & Daihatsu's. I for on also like working on VAG units although many hate them. Small cars have a low operating cost and tend to sell at auction for no money with only a little bit of work required for a good trade sale profit. Also as I said they shift quickly, big saloons will sit for weeks simply because most of the market for those cars dont want a ropey 10 year old motor, however small hatchbacks are widely needed as basic, cheap transportation. Although you WILL have better luck with vectas/Mondeos than you would anything "luxury".
Ok so maybe not the jags, but bmw 3 series and c class and E class from around 98-03 are quite high profit. I am not a fan of flipping cheap runaround fiestas, micras, 206s because they always have minor faults that are liveable and not economical to repair. I wouldn't say I'm starting out as totally new, it's just that I hope to increase the volume of cars that my dad and I have sold over the years, and it has been the case that they are just the cars that he would drive so people carriers and vectras mondeos etc. I see what you mean by the Japanese bit though because Yarises are possibly the most lucrative of all the superminis I can think of within my budget
Original post by Alfissti
Too much effort and trouble for too little money.
So far we've never spent more than 5 hours on a single car and never made less than 200. I think you don't understand what I am doing different to others to make it lucrative.
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Original post by vuvuzela
So far we've never spent more than 5 hours on a single car and never made less than 200. I think you don't understand what I am doing different to others to make it lucrative.
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You can't 'fix' a particular problem with a car differently to someone else... At the end of the day if you've got a business flogging cheap motors and you sell a dodgy car to someone, you'll be held responsible for making it good. As a student that might not be too good...
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Original post by vuvuzela
So far we've never spent more than 5 hours on a single car and never made less than 200. I think you don't understand what I am doing different to others to make it lucrative.
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Seems rather optimistic.
This is coming from someone that owns a car recycling business.
Guys I'm in business as of today 05 blue astra brought for 550. 1.3 diesel with injector issues.
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Car injectors done no smoke on startup of stalling having a quick service and valet today, it will end up owing me just under £800 everything inclusive. I'll be putting it up for 1500 accepting reasonable offers.
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Original post by Supersaps
The Hulk would be a millionaire.
Took me 5 minutes to get this, that's brilliant haha!
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Original post by vuvuzela
Guys I'm in business as of today 05 blue astra brought for 550. 1.3 diesel with injector issues.
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Why not just employ a kid at minimum wage with a periodic bonus, and just focus on finding the cars, and managing the sale of the cars. Business interferes less with your studies, and you may make more since you'll have more time to spend finding the cars and selling them once they've been repaired.
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