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    Thread: Anybody here flip cars for profit?

    1. Member Justin14's Avatar
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      08-03-2012 08:03 PM #1
      So I'm thinking about flipping cars, and hopefully turning a profit.

      Would edmunds be a good guide to go by at the local auto auction? How important are tires to value? I guess I'll need an unlimited carfax subscription. Any tips?

    2. Member sicksappeal's Avatar
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      08-03-2012 08:04 PM #2
      ...You a cop?
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      08-03-2012 08:18 PM #3
      It's not that easy.

      Laws around how many cars you have at once as well.

    4. Member emmettlodge's Avatar
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      08-03-2012 08:20 PM #4
      I've flipped a couple of cars. Neither tragedy resulted in any sort of "profit", per say.

      Disclaimer: I MAY be doing it wrong.

    5. Member c0r3y.af's Avatar
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      08-03-2012 08:22 PM #5
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    6. Senior Member syntrix's Avatar
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      08-03-2012 08:24 PM #6
      As shown, why flip cars?

      Contact DMV and other agencies in state. Ask how many cars you can own and if you are taxed next year on each "registered" one.

      You might be surprised.

      Nobody in their right mind flips cars for profit. We all wrestle bears in 3rd world countries for profit.
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    7. Member Broduski's Avatar
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      My driveway looks like a shady used car lot
      08-03-2012 08:24 PM #7
      Quote Originally Posted by Prail11 View Post

      Laws around how many cars you have at once as well.
      Huh? You have laws that restrict how many cars you're allowed to own in Canada?
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    8. Member emmettlodge's Avatar
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      08-03-2012 08:26 PM #8
      Quote Originally Posted by 16v_43v3r View Post
      Huh? You have laws that restrict how many cars you're allowed to own in Canada?
      In Ohio, for example, you're only permitted to purchase or sell a maximum of 5 cars per year.

      I think that's what he means.

    9. Member retro_rocket's Avatar
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      08-03-2012 08:28 PM #9
      Check into your state dealer laws first - primarily to see if there are restrictions on how many cars you can buy/sell in a given year. For example, in PA, you can sell up to either 5 or 6 (can't remember which) vehicles per year as a private individual - any more than that, and you have to have a dealer license.

    10. Member Broduski's Avatar
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      My driveway looks like a shady used car lot
      08-03-2012 08:31 PM #10
      Quote Originally Posted by emmettlodge View Post
      In Ohio, for example, you're only permitted to purchase or sell a maximum of 5 cars per year.

      I think that's what he means.
      Ahh, I think that might be a federal law too.

      Just keep the titles open, nobody will ever know.
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    11. Member Time for a GTI's Avatar
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      08-03-2012 08:31 PM #11
      Quote Originally Posted by c0r3y.af View Post
      ....
      profit
      Scotch. It's time.

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    12. Member c0r3y.af's Avatar
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      08-03-2012 08:40 PM #12
      Quote Originally Posted by Time for a GTI View Post
      ....
      profit
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      08-03-2012 08:48 PM #13
      I have parted out cars for money though and its not bad if you can find the right vehicle.


    14. Member Justin14's Avatar
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      08-03-2012 08:59 PM #14
      Ok I know that in my state you cannot sell more than 5 cars in a year without a dealer license. Just wanted to do maybe 2-3 tops.

      Buy low
      Recondition
      ???
      Profit

    15. Senior Member syntrix's Avatar
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      08-03-2012 09:04 PM #15
      Quote Originally Posted by 16v_43v3r View Post
      Huh? You have laws that restrict how many cars you're allowed to own in Canada?
      I'd be concerned about the number of cars you can SELL. Did you google this? LOL
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    16. Senior Member syntrix's Avatar
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      08-03-2012 09:05 PM #16
      Quote Originally Posted by Justin14 View Post
      Ok I know that in my state you cannot sell more than 5 cars in a year without a dealer license. Just wanted to do maybe 2-3 tops.

      Buy low
      Weld frame with $199 Harbor freight mig welder
      Paint
      Recondition
      Buff
      ???
      List on CL with cryptic ad
      ???
      Profit
      ^^^^
      fixed that for ya
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    17. Member Broduski's Avatar
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      My driveway looks like a shady used car lot
      08-03-2012 09:06 PM #17
      Quote Originally Posted by syntrix View Post
      I'd be concerned about the number of cars you can SELL. Did you google this? LOL
      It's the way he worded it.
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    18. Senior Member syntrix's Avatar
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      08-03-2012 09:07 PM #18
      Quote Originally Posted by 16v_43v3r View Post
      It's the way he worded it.
      eggsacktly. moew
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    19. 08-03-2012 09:07 PM #19
      Quote Originally Posted by emmettlodge View Post
      In Ohio, for example, you're only permitted to purchase or sell a maximum of 5 cars per year.

      I think that's what he means.
      I've heard that's why you don't sign the title over when you buy it.

    20. Member emmettlodge's Avatar
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      08-03-2012 09:32 PM #20
      Quote Originally Posted by surefooted View Post
      I've heard that's why you don't sign the title over when you buy it.
      You talkin about...illegal private sales?


    21. 08-03-2012 09:42 PM #21
      Quote Originally Posted by emmettlodge View Post
      You talkin about...illegal private sales?


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      08-03-2012 09:43 PM #22
      Did it with one car last year and it caused nothing but headaches. Phone calls from the new owners saying the car wasn't what he expected, etc etc.

      Just expect that type of stuff to happen. Oh, and the stroke phone calls. I loved those too.

      Never again.

      AND I sell cars for a living!
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      08-03-2012 09:43 PM #23
      Nothing is stopping you at the entry level. Buy low, sell high.

      Or part them. But only do that if you enjoy sawzalling up unibodys.
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    24. Senior Member syntrix's Avatar
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      08-03-2012 10:13 PM #24
      Quote Originally Posted by ChiTownA34DR View Post
      Did it with one car last year and it caused nothing but headaches. Phone calls from the new owners saying the car wasn't what he expected, etc etc.

      Just expect that type of stuff to happen. Oh, and the stroke phone calls. I loved those too.

      Never again.

      AND I sell cars for a living!
      WOAH!

      Is IL a bitch state, cause here it sale, doc, done.... WTF?
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    25. Member mfbmike's Avatar
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      08-03-2012 10:30 PM #25
      Florida law is 2 cars per year that you can sell without dealer's license.
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    26. 08-03-2012 10:30 PM #26
      a few guys i work with flip cars, one purposely flips them, the other not so much, hes just a car nut and gets bored quick. i dont know what the laws are in the states but in canada you can only buy and sell so many cars a year before you need to have a liscense to be a used car dealer.

      the guy that purposely flips cars focuses on semi older models that need a big job, usually worth a grand or two to repair, does the work himself with parts he gets on a discount and can usually clear 1-4 grand profit because he bought it for so cheap.

    27. Member digraph's Avatar
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      08-03-2012 11:45 PM #27
      My roomate in college did this because he was a starving grad student and it was a way to finance part of his living expenses. I swear after he landed in the US he went straight to sears to buy one of those 250 part tool sets. But he also stayed under the legal number of sales in MD to not go into dealer territory.

      Honestly, one of my retirement project ideas is to flip cars and somehow give or sell them at cost to a nonprofit that helps low income people get cars so they can get jobs; I like fixing DD cars more than driving or really anything else about them.
      Not an enthusiast.

    28. Member DowNnOuTDubin's Avatar
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      08-04-2012 12:04 AM #28
      Yeah, but they are hard to sell..


    29. Senior Member Iroczgirl's Avatar
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      08-04-2012 12:06 AM #29
      I've never made money on a car I sold. I'm too anal about fixing every little thing.
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    30. 08-04-2012 12:22 AM #30
      they real money is in boosting cars, drag races or smuggling in contraband w/ your car

      you can resell at a profit, but i think most states have some sort of restriction

    31. Member Justin14's Avatar
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      08-04-2012 12:53 AM #31
      Quote Originally Posted by Iroczgirl View Post
      I've never made money on a car I sold. I'm too anal about fixing every little thing.
      Same goes with flipping houses. They say to try and make it a 8/10 not a 10/10 because it takes too much money to make something perfect.

    32. Member 200HP4dr's Avatar
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      08-04-2012 01:21 AM #32
      The best way to do this is to know more than your competition. Craigslist is the way to do it, and scout it often for great deals. Public auctions are out of control right now and there are no deals to be had.
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    33. 08-04-2012 02:51 AM #33
      The way to make money on flipping cars is through financing bad credit buyers. You either get to make an outrageous interest rate or end up repo'ing the vehicle to sell again.

      Simply buying and selling is high risk/low reward where 1 bad deal can eat the profit of 5-6 good deals. Very competitive for the little guy, and you'll most likely end up just turning cash.

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      08-04-2012 05:27 AM #34
      If I weren't so busy I'd do this. What I'd do is cruise Craigs multiple times a day looking for specific older cars that people will pay a decent amount for in clean condition with low mileage. I see them all the time. Grandma's mint '94 Century for $1200, when people are paying twice that in today's market, as most of those cars rusted away. I see "wanted" ads for old Escort wagons all the time! You can't go wrong with a clean old Honda either, but you have to be quick to get them. Or anything people on eBay will pay crazy money for, like diesel...anything. I'd go for cars that didn't appear to need much, if any work, clean them up and sell them. I'd probably just jump title on the older stuff (this is hypothetical after all!), as the people who buy cars like that could care less. That way $500-$1000 per car would be almost all profit.

      BTW, I've noticed people get PISSED when they see their old car back up for sale for twice what they sold it for. They'll post all pissed off in the car section about it. Dude, either you were too stupid to research the value, or someone put their hard work/money into fixing it to flip. Either way, go cry about it!

    35. Member Egz's Avatar
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      08-04-2012 09:23 AM #35



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