Flipping High End Cars

PrettyBoyAJ · Jun 21, 2015

Anybody here know anyone with experience buying and selling luxury vehicles?

I used to work at a car dealership and was a top producer at the dealership. I know there is a lot of margin in used vehicles and it definitely peaks my interest. Now I'm an IT Consultant but I still enjoy looking at and driving nice vehicles. I'm thinking about trying to buy and sell used high end vehicles (Corvettes, Teslas, Porsches) for a side hustle (1 car a month).

Any advice or tips from people who have done it or have experience?

Bible_Belt · Jun 21, 2015

#1 have cash. #2 focus on people who are desperate for cash.

Cash talks. Whatever someone is selling, set half its (resale) value in cash on the table. Most of them will take the deal.

My motorcycle, which has gotten me a lot of pvssy, was $600. My truck was $900. I can always sell either of them for double what I paid. That's a good rule to live by when dealing in secondhand merchandise. Pay about half what you think you can sell it for.

DaddyLongShanks · Jun 21, 2015

PrettyBoyAJ said:
Anybody here know anyone with experience buying and selling luxury vehicles?

I used to work at a car dealership and was a top producer at the dealership. I know there is a lot of margin in used vehicles and it definitely peaks my interest. Now I'm an IT Consultant but I still enjoy looking at and driving nice vehicles. I'm thinking about trying to buy and sell used high end vehicles (Corvettes, Teslas, Porsches) for a side hustle (1 car a month).

Any advice or tips from people who have done it or have experience?

I have the same idea for a side hustle, and then figured out houses have less transactions and more profits.

old married dude · Jun 21, 2015

I have been doing some of this on the side. I've never flipped any real high end cars, mostly just rare & high demand things I find online that I know I can turn for a decent profit.

In my opinion, the hottest vehicle you can flip right now is a Ford Excursion SUV. Ford was pretty dumb to discontinue these vehicles & they are very sought after by Ford fanboys who wouldn't be caught dead in a GM (Suburban/Yukon) but need a very big SUV.

If you want to get into this, start combing through ebay, Craigslist & other classifieds, that's how I find things.

PrettyBoyAJ · Jun 21, 2015

DaddyLongShanks said:
I have the same idea for a side hustle, and then figured out houses have less transactions and more profits.

How has that faired for you so far?

DaddyLongShanks · Jun 21, 2015

PrettyBoyAJ said:
How has that faired for you so far?

Still conceptual. With the houses you have foreclosures and other situations that can be huge transactions.

With the cars it was easier to get into it even using your own money.

The_flying_dutchman · Jun 21, 2015

Be careful bruh, flipping cars is technically illegal. Most states limit you to selling 6 used cars (whether the car was for personal use or for profit), after that, you would need a dealer license to sell anymore cars.

I rode motorcycles a lot when I was younger and the biker scene has a lot of guys that flip bikes as a side hustle.

What they do is they look for used bikes off craigslist. They buy the bike and have the seller sign over the title, but they don't fill in their personal information on the title because they don't register the bike.

they turn around and sell the bike to another party whom will register the bike.

I guess this is what you're planing on doing.

Anyways, not hating, I respect the hustle, but just want you to be careful and not get popped by law enforcement.

PrettyBoyAJ · Jun 21, 2015

I'm aware of that. If I plan on selling a lot and like it I will just get a dealer license. No big deal.

DaddyLongShanks · Jun 21, 2015

PrettyBoyAJ said:
I'm aware of that. If I plan on selling a lot and like it I will just get a dealer license. No big deal.

Yep no big deal. With the businesses of all kinds it's not much harder to do it a bit larger and more correct than running a side hustle. If you got a good market, doing it larger and more correct will give you more $$$.

GS750 · Jun 23, 2015

OMD is right about the big boy Excursion. They are a rare find in good shape and if you can find a diesel with under 150k you can flip that fvcker quickly. If I was going to do this I'd stick to Honda's and Toyota's...especially Toyota trucks (4Runners and Tacoma's). There is always a market for them because they are so reliable. Even with 200k on the odometer people still buy them. Ford Crown Victoria's are becoming more and more popular in the civilian market too. Most police departments are cycling them out for Chargers and the new Taurus AWD. They can be found pretty cheap and after some cleanup and detailing you could do pretty well.

PrettyBoyAJ · Jun 23, 2015

I've been looking at those Wranglers too. I want to get a 4 door Wrangler 2008+. See if I can trick it out. Ride it for a couple months then flip it. They look to clean to me.

Bible_Belt · Jun 23, 2015

Mods tend to be money-losing proposition. You want someone else's project that they have sunk a lot of money into, and aren't getting back.

PrettyBoyAJ · Jun 24, 2015

^Yea, I was just thinking that. Just buy an already modded one and let them lose out on the deal. Drive for a couple months or a year and sell it or at least break even.

Skyline · Jul 1, 2015

I highly recommend that you don't start out with Gran Tour'ers. Corvette, Model S, and most Porches are classified as a Gran Tourer and it might be a little hard finding someone to sell it to.

I would personally recommend first time driver type of cars like the Camry, Civic, Altima, Maxima, Specter, Lancer, or any other cheap car. If that isn't what you want to do, then I would recommend JDM cars/muscle. Cars like the Subaru impreza WRX, Mitsubishi Lancer evo/ralliart, Infiniti G35, Nissan Silvia s13, Scion FR-S/GT86/Subaru BRZ, Nissan 350z, and even the legendary Toyota Supra. You should know the big 3 muscle brands by now so that should be left unsaid.

Basically, get any one of those cars and make it STOCK. Stock cars are more sought out after to tuners because they do not want someone else's project because they want their own.

If you can find a Toyota Supra in your area, BUY IT. A single turbo Supra with 100k+ miles on it will EASILY go for $35k. And even more if it's STOCK with 0 miles on it. It's insane that this car costs so much after more than a decade...

That's the best advice I can give, make the car STOCK.

PrettyBoyAJ · Jul 2, 2015

By stock you mean default parts with no modifications? Correct? I didn't know Supra's could go for that much. I'm actually in Los Angeles right now and won't be in town too much for the rest of the year. Once I'm in town I'm definitely going to get something to try to flip.

Bible_Belt · Jul 2, 2015

It's supply and demand. What are the odds that the most popular tuner car of all time has existed this long without being tuned? There just aren't very many of them around.

I have an all-stock 1992 Dodge Stealth twin turbo that spun a rod on me and has been sitting for years. The price of 90's tuner cars keeps going up. It is almost getting to be worthwhile to get it running again, so I can sell it. I loved that car. 300HP AWD in 1992 was way ahead of its time.

I actually kind of want an EVO now, because the Stealth made me fall in love with all-wheel drive.

LiveFreeX · Jul 2, 2015

Why not build kit cars and sell them. I'd much rather buy a kit car on the body of a junker. Or just sell car kits.

Skyline · Jul 2, 2015

PrettyBoyAJ said:
By stock you mean default parts with no modifications? Correct? I didn't know Supra's could go for that much. I'm actually in Los Angeles right now and won't be in town too much for the rest of the year. Once I'm in town I'm definitely going to get something to try to flip.

Yes.

Most people would much rather a car that has default parts EXCEPT luxury parts such as better seats, Bluetooth, review camera, sound system, etc... The reason for this is part replacement cost and cars are deemed more reliable and 'safe' when they are stock.

Kit cars are harder to sell in my opinion but when they do sell, you can sell them for a lot.

Oh yeah, Lancer Evo's were discontinued this year. They may or may not sky rocket in the next decade- but not like the Supra because that car is something else.

PrettyBoyAJ · Nov 23, 2015

Bump. Was thinking about getting into this again. Anyone else with experiences?

HeadLightsOn · Nov 27, 2015

I've done a few luxury flips (Porsche) and have done well out of them. Lower mileage, full service history, non import. Those have been the best for me. Smaller market as a lot of people don't have 120-150k to drop on a car. I do one at a time so that if I don't sell it straight away, I drive it as my main ride (shorter mileage driving).

Houses is where I've had real success. But that's a different gig altogether.

Flipping High End Cars

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