any profit in buying and selling cheap cars?

[_THE_STIG_]

i was wondering if its worth buying a car for say 400, doing some work to it and selling it for more money

but are really really cheap cars in great demand and how would i go about selling them ( apart from autotrader etc..)

[MK2SLAG]

tbh its hit or miss mate,if your going to buy a cheap car make sure its got a good mot

[VtsTom]

vtrs are the main seller, they are cheap and insurable, gtis and vts's dont seem to move as quick. Anything below a 1.6cc tends to sell quick if well presented and has 12months mot.

[danzman1991]

If you can be bothered.. Go for it..

[dispin]

The concept that you have is called fixing and flipping. This is normally done with property. People that want to do this usually start with cars and then move onto houses so yes you can make some money on this.

I dont think that you need to buy a broken car that needs work. If a car is not advertised correctly it will sell for less. If it has lower spec alloys it will look less appealing and same with color coding. so lets say you buy a peugeot 307 (like this http://search.autotrader.co.uk/es-uk/www/cars/PEUGEOT+307/Ne-2-4-5-6-7-8-27-44-49-53-61-64-67-103-133-146-236,N-10-4294967090-4294967204/advert.action?R=200820309969868&distance=278&postcode=ne661ts&channel=CARS&make=PEUGEOT&model=307&min_pr=2000&max_pr=&max_mileage=) for 2100. Then color code it, get factory alloys and spoiler to make it look more sporty and take it to the beach and get some nice pictures(hopefully looks something like this http://search.autotrader.co.uk/es-uk/www/cars/PEUGEOT+307/Ne-2-4-5-6-7-8-27-44-49-53-61-64-67-103-133-146-236,N-11-4294967090-4294967204/advert.action?R=200816307899427&distance=95&postcode=ne661ts&channel=CARS&make=PEUGEOT&model=307&min_pr=3000&max_pr=&max_mileage=. Your car then will be worth more but how much more i do not know, i would expect a couple hundread NOT 1000. You have to remember the cost involved like advertising and so on. Also cars are a depreciating asset so you need to move it quickly. . Ive only thought about the idea and i didnt look into it alot so i cant give you a great idea of the profit you will make. It definitely works the the amount of time and stress involved might make you change your mind. Even then i would still say try atleast one. If it doesnt go well you will loose a couple hundread and can move on.

[Elliott]

its ok, you just gotta be pretty sure your going to be able to sell it.

if you dont sell it then what..

[Danr]

You don't really want to be paying anything for the car if you can help it. Best bet is to hit the first time driver market. Cheap corsa's etc. Make £500 - £600 at a time. Only problem is changing the log book all the time. Tax man may see your dealing and come for some tax.

[Danr]

Surely the tax man would have a say if your working and not paying tax??

Some good friends of mine do it but they do it through a business, covers their backs.

[dispin]

I cant remember this but isnt there a law if you sell more than 5 cars in a year you need a dealers license. Im sures theres a limit.

I doubt you could make 1k per car. Then again people seem to over pay for cars all the time.

[MK2SLAG]

im sure if you sell more than 20 cars a year your classed as a trader!

[rob_s]

you need to know what your looking for and buying

work out how much you would have to make to be worth your wile,and the price your willing to pay and how much you will be looking for it

you can make a mint on some cars,and loose a fortune on others


me n a mate got a megane scenic for £100 few months back lad wanted it off his drive as he had a new car etc

valated it it,topped the oil up and put it on ebay,went for £800 i think we took in the end






and you will be classed as a trader after so many yes

[immense]

As stated above, it's hit or miss - like betting, can't always guarantee you'll get your money back. My mates done it before and he had quite a bit of success, one car he brought for £350, only need 2 new tyres and a clean in/out, sold it for £750.....

My old man got himself an old K reg Merc recently, can't think what model it was off by heart, wasn't taxed/MOT'd - £450, decided he didn't want to keep it in the end, advertised it for £1200 full tax/MOT, sold for £1050.

There is money to be made but you have to pick and choose carefully, know what you're doing with cars etc.

[steviet]

tbh on mate. i wouldn`t start with selling cars the now. they don`t seem to be selling too well the now. ive been buying/selling cars for 2years now. and ive never had a car longer than 2weeks. but since the start off 2008 ive had cars up to a month and a half. as for the suggestion of selling vtr`s don`t bother. you will be stuck with it for ages. they used to sell very quickly but not now. they seem to have had there day. ive had loads off them but the last one i had took ages to go. everywhere i go there are saxo`s with for sale signs on them and there still there weeks and weeks later. stay away imo. unless you want it for yourself. autotrader is the best way to sell them or second best ebay. ive tried everyway for advertising and they 2 are the best. ive made some decent cash over the years. best ive had was 900quid profit on a ford focus. lowest ive had is 350quid on a 1.2 corsa. hope it works for you tho mate if you do start.

[_THE_STIG_]

what about all the papers ect how do i find out all the legal info etc..

any websites thanks?

[VTS-Boi]

ive been thinkin about doin this to get away from my boring/dead end job.

but how and where would you start?
do you need a garage/small place etc?
how much money do you start with?
etc

any info on this would be beneficial :)

[AM4R]

surely when you buy the car, you have to put it in your name and what if you sell it quick. You wont have the papers to sell it on again, while they are being processed.

[steviet]

what about all the papers ect how do i find out all the legal info etc..

any websites thanks?

is it something your gonna quit your job for? or is this something on the side?


ive been thinkin about doin this to get away from my boring/dead end job.

but how and where would you start?
do you need a garage/small place etc?
how much money do you start with?
etc

any info on this would be beneficial :)

i started off with 400quid. now ave got more than that threw doing it, but i don`t like buying cars over the 1500quid mark. i feel the cheaper cars sell quicker than the expensive one. go to places like auctions check out papers for cheap cars. you can do it from your house if you really wanted, thats what i do. most cars i can have is 3 at the same time. cause there`s no more room lol. it all depends if your gonna be doing it full time. im keeping the job i have now and selling cars, with the plan when i have enough cash, ill look into buying something. but that won`t be for a while. when i have a place ill be looking at the more expensive cars. thats the plan anyway , just hope it works lol.

[_THE_STIG_]

steviet what about the papers ect.. and the tax man... and advertising??

[_THE_STIG_]

and its just for extra cash

[Tupps]

Yes, there is money to be made.....Definately

[JC-Furio]

If you're doing it on the side, would be a good bit of cash i'd imagine

[Greig_Vtr]

My next door neighbour does this except with classic cars. Looks to be money in it as he owns a Porche & A classic SL. Says most cars only need a lick of paint here and there and a good polish!! Should of seen the Roller that was in his drive last week :fcuk: Holy Shit this thingh was HUGE!!

[smiith]

iv thought about it, but i think for abit of quick cash, you could break cars such as saxo's, 106's and corsas, buy them for £100, your gona get 50-80 back for the shell...

You can get.. Doors, Bonnet, Glass, Interior, Wings, Axles, Hubs, Struts, Engine, Gearbox, ECU+Loom... Surely with popular cars for young drivers, you can sell parts pretty quick, spose its more for the city blokes though.

Or get a mate to go halfs, spend a saterday stripping the car...