A friend of mine and I are talking about doing side projects to make money. Basically we'd be buying repairing or sprucing up cars and then selling them. We're going to go look at a couple friday. Is it a good or a bad idea?
Crazy Idea
- Thread starter jikelly
- Start date
-
Sponsors (?)
'66 coupe
Founding Member
Hard to say. Obviously, it all just depends on how much you pay for the car and repairs vs. how much someone is willing to buy it for.
I know some people buy cars at auction, and turn around and sell them.
If you sell a certain amount of cars a year, most states make you get a dealer's license. Also, if you're selling privately, what's your approach for selling the cars? You're not going to say you've had the car for x-amount of years, so what will you say?
I've always heard it's hard to turn a profit on cars. You don't know what repairs the car will need, and you don't want to get stuck with a money pit.
Just my thoughts on the idea. About a year ago, my friend and I considered getting auction cars, and respraying/fixing them and selling them. We decided against it.
I know some people buy cars at auction, and turn around and sell them.
If you sell a certain amount of cars a year, most states make you get a dealer's license. Also, if you're selling privately, what's your approach for selling the cars? You're not going to say you've had the car for x-amount of years, so what will you say?
I've always heard it's hard to turn a profit on cars. You don't know what repairs the car will need, and you don't want to get stuck with a money pit.
Just my thoughts on the idea. About a year ago, my friend and I considered getting auction cars, and respraying/fixing them and selling them. We decided against it.
I'm a little nervous about doing it, but if we are careful maybe we can turn a little profit. We're going to go look at a 70 something Torino tomorrow and see how it looks.
krash kendall
Active Member
My neighbour does it. He used to specialize in late 80's and 90's F-150s and full size Broncos untill the profit margin got too slim. When they were ten years old or less they fetched more coin than when they became 13 - 15 years old. He probably flipped close to 80 of those trucks over a ten year period. He now restores classic mustangs because the return on investment is better, but he only does one car every year or so. He did a California Special that took a while to sell and is working on a GT 350 clone now that I've posted pictures of here. He has another C/S waiting on the back burner. The bulk of his income is repairs on client cars in his home two bay shop.
You are just getting paid for your labor, at the end of the day. If you want to couple that with a major financial investment, you better know what cars will sell for, and what repairs are worthwhile.
Most people decide just to get paid for repairing cars rather than flipping them. Of course, occasionally an outstanding opportunity rolls along, and you gotta do it.
Most people decide just to get paid for repairing cars rather than flipping them. Of course, occasionally an outstanding opportunity rolls along, and you gotta do it.
I'd always wanted to restore cars on the side, but had only planned on doing like one a year as a hobby since I like working on cars. One thing I need to learn how to do is weld. I got around it on my car but it is a really valuable skill to have, and not just for working on cars.
'66 coupe
Founding Member
I think what appeals to most people is the idea of working on a car, gaining the experience, and getting paid for it, or just breaking even.
For anyone who's not a mechanic, getting to do any work on a car will cost them money, unless they're helping a friend.
So the Torino was a definite no go. You could see the sun through the firewall, and the front brace/crossmember was rusted so badly that the strut rod was braking through what was left of it.
Looked great in the few pictures the guy took. So glad we went to look at it before we bid.
Looked great in the few pictures the guy took. So glad we went to look at it before we bid.
So, it's a lot harder to find a car to work on than I thought it'd be. Turns out we aren't the only ones looking and our limited budget doesn't help at all.
Have you guys seen prices on muscle cars? They are just crazy high, I mean crazy. There's a plain Jane 60 something fastback down the street here and they want 25000 for it. Wow. It's like mustangs are non existent in the Junkyards too. Not just the classics, but it seems that all the mustangs are being bought up. Same with anything dodge.
Have you guys seen prices on muscle cars? They are just crazy high, I mean crazy. There's a plain Jane 60 something fastback down the street here and they want 25000 for it. Wow. It's like mustangs are non existent in the Junkyards too. Not just the classics, but it seems that all the mustangs are being bought up. Same with anything dodge.
if you want to get into buying and selling older cars around here look at datsun z cars. there are even still a few in the wrecking yards. i worked in the last wrecking yard in town that really had any old mustangs back in high school (summer of 86), it's been dry around here since then.
'66 coupe
Founding Member
lol...if you ever see an SN in a junkyard, it'll be picked clean. V6 or GT, doesn't matter. Luckily, I found a place close by that's pretty much unkown and he has a couple V6es I've gotten parts out of; he gives me good deals too.
But yea, SN cars will be picked clean. Foxes are only rare if you're looking for 5.0-specific parts.
Anything older than that is pretty much non-existent in yards around here. I can't even find Granadas or Mavericks.
Well there is a guy back home in Midland TX that's got a mustang restoration shop and like 100 mustangs of various years just setting in his lot. I never dealt with him much though because his prices were outrageous.
I saw a 72 fastback in the junkyard in I think Brownfield, so we're going to go check it out Friday.
I saw a 72 fastback in the junkyard in I think Brownfield, so we're going to go check it out Friday.
Whew that car was a rust-stang. A few more years out there and there'll be nothing left.
