Buying and flipping cars?

[aimcat]

Hello everyone,

I have a few questions about doing this. This is something my husband and I are considering doing to gain some extra income. Buying cars that we can find deals for under 2500 and resell them on ebay or market again locally.
Is this something that is doable? Can anyone that has done this lend some advice? What cars to buy and NOT to buy?
I have been mainly trying to find deals on craigslist...any other avenues? Are the auto auctions worth going to? Trying to find the most bang for our buck obviously?
Any help would be really appreciated. Thanks

[DeltaP]

Do you plan on getting a dealers license?

[aimcat]

Just doing minimum allowed by state. No license needed.

[Moppie]

its not something you want to step into with no knowledge.

Generally people who make money from it do so because they also put a lot of time into it, have very specific knowledge about certain cars and have the tools and space needed.


You can't just buy a car cheap then sell it for more money.
You need to do something to the car to add value to it.

Generally you buy a car that is in good mechanical condition, but poor cosmetic condition, then spend 5-10 hours cleaning it and replacing missing parts etc.

A clean and tidy car in good cosmetic condition is worth more.

Stick to popular models and brands, the more common the car, the more likely it will sell, and the easier it will be to find parts.

[aimcat]

Oh yes I totally understand the logic behind it all. My husband and I are very in tune with cars, trucks, suv's. We have done and continue to do a lot of research.
We have been looking at Honda's, Toyotas, Mustangs, Firebirds, Camaros....we were trying to stick with cars mainly but not opposed to trucks. Just because it seems with gas prices on the incline that people seem to be clamoring to buy gas savers.
We were def looking for cars with no mechanical issues and do not mind doing a good detail job and fixing simple things.

[aimcat]

Also I am curious as how to buy and resell? Do you focus on ebay buys and resell on craigslist? Or craigslist and sell on ebay? Or wholesale auctions and sell either way??

[zzyzzx2]

I have never done this but I figure that buying the right cars for the right price is going to be the hardest part.

[jdmccright]

I would seriously advise against eBay-sold vehicles unless you can inspect them in person before buying. Stick to those you can see nearby and know what it's worth before you go.

I'd also concentrate on vehicles that are not kept in salt-free climates....this pretty much rules out the snowy midwest and northeast. Mild climates are best.