Buying a used car for resale?

[Old Smokey]

Anyone have any suggestions on this? To what degree do you fix them up to sell?
I bought a 2004 Grand Prix GT from my neighbor this morning. She bought the car new (so it's a 1 owner) and is low mileage (108,000). It has a torn leather drivers seat, clear coat has some bubbling, a small dent in the rear door ( I think it will pop/pull out easily) and it needs a good detailing. Has a new power steering pump, new Interstate battery, new brakes and it runs and drives good. How much would you do to it for resale? I bought it as a project for my oldest son and I to flip and make some money. It could use tires, but I don't know if that is a good investment to make on something that is going to be flipped. I have a mobile retailer coming Thursday AM to do a complete detail including engine for $145. That seemed reasonable to me and will save us hours of work plus cost of materials.

I have never done this, any thoughts or suggestions? Again, I did buy it cheap and have some room to doll it up a bit if it's worthwhile.

Thoughts and input appreciated, especially from those who have done this.

 

[Unpossible_1]

Flipping cars is a tough deal, that doesn't always yield a profit. My uncle used to repair cars and resell them, but that was back in the 80s. I'd say it might be worth dipping your toes in the pool with one and seeing if it sticks. Especially if you enjoy doing the work, so you at least get something out of it.

 

[Old Smokey]

Flipping cars is a tough deal, that doesn't always yield a profit. My uncle used to repair cars and resell them, but that was back in the 80s. I'd say it might be worth dipping your toes in the pool with one and seeing if it sticks. Especially if you enjoy doing the work, so you at least get something out of it.

For what I paid, I will definately make a profit. I think I can get around 3K for the car by just doing a good detail and fixing a couple of small repairs. New hood struts, pulling small dent, etc. I will have to see how it cleans up. Thanks for the feedback. I am almost ashamed to say what I paid for the car, but it's what she would take. I didn't weasel her down.

 

[csk415]

I wouldn't sink to much cash into it a 14 year old Pontiac. Detail it, fix the seat and leave the paint alone if it isn't horrible. Based on your description and KBB its worth what you think you can get for it and maybe a few hundred more. I will pass up a car with shitty tires. Your better off finding a used set with some better tread to help sell it if the current tires are bad.

 

[Old Smokey]

I wouldn't sink to much cash into it a 14 year old Pontiac. Detail it, fix the seat and leave the paint alone if it isn't horrible. Based on your description and KBB its worth what you think you can get for it and maybe a few hundred more. I will pass up a car with shitty tires. Your better off finding a used set with some better tread to help sell it if the current tires are bad.

I'm with you on the tires. I called around asking for the price of the cheapest set of tires they had and they were $57 each. But to me new tires is something that means a lot to potential used car buyers and could be recouped on the price of the car and builds the confidence that it is a good car. Thanks for your input.

 

[Old Smokey]

Had a mobile detailer come to the house and detailed the car yesterday and he did an excellent job. I am getting 2 new tires mounted and the oil changed tomorrow and then to the upholstery shop Monday. So it's getting there. Spent some time driving it yesterday and it runs and drives great.

 

[Bondo 440]

God I've flipped dozens of cars. I'll have a car for a year, maybe longer, working on it, then sell it. Repeat cycle. Slowed down with that now. But still busy.

On my daughter's SUV today, rear brakes failed inspection. Replaced rear rotors, span calipers, grind rust off the hangars, replace retention clips and new pads .
Tomorrow is my son's Mini Cooper. That's been ongoing. This time not too bad. It's valve cover gasket .... and plugs while we're in there.
Hope things go as good as they did today.

The dent is on an old car, so sure "pop it out" . But usually the metal is stretched. So when you knock it out, the panel warps.
( You might see this when you knock the dent out , another small one appears. ) Won't matter on this old car.
But on future projects, consider you may need to shrink the metal back. There's techniques for that.
... and no, not with blow dryers and dry ice.

Glad you replaced the tires.
If you can't put $300 into rubber, and still make Benjamin, you paid too much for the car.
Weather buyer or seller ; ..... People with bad brakes or bad tires are people without the time or money to maintain a car.
People don't sell their car because it needs tires. When I see that, I know there is likely other service required on that vehicle.
New tires helps the car sell.

 

[Bondo 440]

Had a mobile detailer come to the house and detailed the car yesterday and he did an excellent job. I am getting 2 new tires mounted and the oil changed tomorrow and then to the upholstery shop Monday. So it's getting there. Spent some time driving it yesterday and it runs and drives great.

I was going to advise you about the tires, and had to re-edit as you just updated while I was typing . Sounds like you are doing well ! Pics when done, maybe?

 

[Old Smokey]

I was going to advise you about the tires, and had to re-edit as you just updated while I was typing . Sounds like you are doing well ! Pics when done, maybe?

Here is a before pic of the car before I bought it. It was really dirty inside and out. I will try and remember to show a couple of after pics when it's ready to sell.

 

[Old Smokey]

I forgot to update this thread. The car sold a couple of weeks ago to the first people who drove it. After recouping what I had invested in the car, I made a tidy $2200 profit. Turned out just like I had hoped.

 

[Lunchbox]

Good for you for making a nice bit of change!! Think you’d try it again?

I had a friend who did this three times in high school. He would drive down to the huge lots that get the off-lease cars from New York City and bring that snazzy looking car back upstate. He made 2-3 grand each time he did it. I don’t think he made any improvements, but those cars were a bit newer.

 

[Old Smokey]

Good for you for making a nice bit of change!! Think you’d try it again?

I had a friend who did this three times in high school. He would drive down to the huge lots that get the off-lease cars from New York City and bring that snazzy looking car back upstate. He made 2-3 grand each time he did it. I don’t think he made any improvements, but those cars were a bit newer.

I doubt I will do it again. It isn't often I find a 1 owner, 108k mileage car for $250. But I was happy the way this one turned out.

 

[Lunchbox]

Yeah, that makes sense.