Welcome to Intel Mixx Blog ..
Before you Flip, Start Searching
Before you flip a car, you’ll want to set up a budget that you are willing to work with. If you can only invest a couple thousand dollars, you’ll want to look at a car under that price range, considering any repairs that need to be done on the car. The more money you put into a car, the better profit you can make. When you start looking for a car, avoid car dealerships as their cars are often “flipped” and more expensive already. Try looking in the classifieds, online buyer sites such as craigslist or by word of mouth. You could also try placing an ad in the paper, but it’s best to omit that you are planning to flip the car since some sellers may be tempted to increase the price.
Basically, when searching for a car, do your research and shop as if you would if you were purchasing a car for your own use. Additionally, it’s advantageous to investigate what types of cars sell best or in highest demand. If you purchase a high-priced luxury car, be prepared to pay more money to a hire a technician or mechanic who specializes in luxury or foreign cars. If you plan on doing repairs yourself, make sure you choose a car that has readily accessible parts for sale. The chances of finding spare or replacement parts for a Toyota is better (and cheaper) than trying to buy parts for a BMW.
Flip a Safe Car
As you would, when shopping for your own car, try to find out the car’s history. Does the owner have maintenance records? Does it look like it has been in an accident? Do all of the safety features work? If the car is supposed to be equipped with airbags, you’ll want to make sure that they have never been deployed. If they have, you may want to reconsider as airbags can be costly to replace; but don’t sell a car without airbags (especially if it is supposed to have them). Once you have purchased a car, at a reasonable price, you want to make sure you flip it with safety in mind. Sure, a clean car with new upholstery or clean leather seats may be appealing to any of your potential buyers, but safety should always come first. Take a look at a Texas Vehicle Safety Checklist:
– Horn, is it in good working condition?
– Windshield Wipers
– Mirror, are there any missing or cracked?
– Seat Belts, are all safety belts accounted for or have any been modified or damaged?
– Tires, is there a spare available?
– Exhaust System
– Headlights, Taillights, other exterior indicating lights
– Motor, Serial or Vehicle ID Number
– Gas caps on vehicles 2 – 24 model years old
As a car flipper, you can decide how much work you want done on the car, depending on its condition. However, remember that the more work you put into it, the more profit you can expect. If for some reason, you decide not to fix the brakes, replace the tires, or repair any other safety feature; you should tell your potential buyer.
Flipping a car can be a fun hobby and an easy way to make money. Just remember that if you decide to sell an unsafe car, it may negatively reflect on you. Sell a car that makes your buyer say, “Wow! What a great deal!” Happy Flipping!
About the Author:
February 7, 2017
November 20, 2016
November 17, 2016
October 22, 2014
August 19, 2014
April 4, 2014
February 26, 2014
January 8, 2014