Buying cars to re-sell

[Mikey]

Any of you ever buy a vehicle you see for sale for a good price to flip it? There is a D-90 in my local paper for $23,750. It's a red 94 with 85k. My research online (here, Autotrader, Ebay) shows these with an asking price of $29k or more if it's in good condition. I haven't had a chance to see it in person, I don't want to bother the guy just to satisfy my curiosity. Are D-90's tough to sell? Am I going to get myself stuck with an extra vehicle? This one's been in the paper for a long time so I may be able to get the price down a little.
-Michael

 

[gil stevens]

asking price does not equal selling price. unless your on the inside buying cars wholesale, it doesnt always work out so well. unless you comb estate sales and the like.. or find sellers who dont know what they have. youd have to look that thing over pretty good before jumping into it. it could need $8k worth of work.

 

[jackp]

My friends in the car business make money on used cars selling for under $10K and financing the deals...for a high interest rate.

I'm sure others on here have made out 'flipping' a car, but 'most' D90 buyers are pretty savvy..I'd stay away if you're only in it to make $$.

 

[Roverlady]

I would think flipping a house would be much more profitable, especially considering the current used car market.

 

[skippy3k]

Funny you say this. I just bought a P38 last week for $2800. Great condition, "new" engine with 65k miles, but PO's boyfriend could never get it started once the engine was put in. They broke up, she got tired of it sitting around, and decided to sell it and reclaim the cost of the engine. So far all I found is a bad starter. (New starter on it's way from Will.)

Anyway, I planned on flipping it. I've already got a P38 as a combination commuter/trail vehicle. However, now my wife is eyeing the new one for herself. I would then take her car as my daily driver. The point is, you may buy a Land Rover to flip it, but they have a way to worm their way into your life. Beware.

 

[Leslie]

I know of a '95 D90 that the guy came back, asking a friend to buy it at $16k....

$29k is just crazy money for a '94; some of the '97's are bringing money like that, but a '94 or '95, that's just too much.... You'd almost have to have a buyer lined up, IMHO.... problem is, a lot of the people that would be jonesing over a 13 year old Rover will be the same ones that know that 110's can start to be brought in in a year.....


IMHO, FWIW, YMMV.......

 

[BuyRovers]

Don't recommend it. I happen to flip a few cars a year but only because I am in the wholesale business, and even then it can be risky.

C-

 

[Mikey]

I figured it probably wouldn't be worth it. I wish I were in a position to buy it for myself but I can be happy with my Disco. Anyone interested in it for themself? I can pass along the contact info.

 

[PCracer51]

I made my money in high school by flipping cars, among other things
Roughly made $3000 on a ranger in less than 4 months.

 

[stupidjeep]

Or you could buy a late 80's Chevy Caprice and a set of used rims from the trading Post (>20", <$750) Throw the rims on, tint and detail it over a weekend. The thugs pay top dollar for these things right now.

 

[jamsandwich]

I made my money in high school by flipping cars, among other things

flipping a few other things huh.
bet you have a gram scale dont you now...

 

[LR Max]

24k for a 94?? I've heard of 94 defenders being sold in "good condition" for 16k. Same for 97s being sold for 24k.

I've bought and sold a some items in the past (mainly camera equipment) and you need to buy at a bargin price. 24k for a 94 is not a bargin. You need to make the profit margin enough that its worth it. Trying to profit off of a car, and only making 500 bucks isn't worth it.

 

[garrett]

for 24K you could buy 4 less expensive vehicles, mark them up $500-1000 each and make more than you would on one vehicle. i would not like having that much $ tied up in one vehicle.

 

[gil stevens]

for 24K you could buy 4 less expensive vehicles, mark them up $500-1000 each and make more than you would on one vehicle. i would not like having that much $ tied up in one vehicle.

especially if that vehicle is a 13 year old defender..

 

[mgreenspan]

If you've got the 24k in cash laying around... why not invest it, max your roth for 07 and 06 before taxes if you havent done so already and put into the rest into other things. If you dont have the cash and you were going to get a loan to do this... dont.

 

[PCracer51]

flipping a few other things huh.
bet you have a gram scale dont you now...

I left the illegal substances to others in the school system. I watched one try and outrun the cops at school, he ended up with his face slammed into the side of a locker to stop him. Lets just say the slots for vents in a normal metal locker are rather unforgiving.