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Does anyone flip cars for profit?

Discussion in 'Research and Ideas' started by Eastside, Dec 9, 2014.

  1. Eastside

    Eastside Entrepreneur

    I have a very close friend or two in the garage and car industry and was thinking of investing in a small car port to flip and sell cars locally to start, does anyone have experience in this please?

  2. Jade

    Jade Entrepreneur

    I have done this with family before. Takes too long, and the fees are so variable we had to stop.
    Rusnal2 likes this.
  3. EF-Roger

    EF-Roger Entrepreneur

    I almost got into this many years ago.
  4. Rusnal2

    Rusnal2 Entrepreneur

    I did back in 2008. My partner could not sell the vehicle. I had to sell it. Mid range luxury vehicles. Car market is tough. I am onto better things now. I enjoy my suv.
  5. Kathryn M.

    Kathryn M. Entrepreneur

    Doesn't sound too profitable, or worth the hassle if these cars have been damaged in accidents.

    However, I notice in my parent's neighborhood there are a lot of immigrants who buy these "flipped" cars. They need transportation to get to work, but they cannot afford a car from the dealership yet, or they do not qualify at the dealership if they are undocumented. Therefore, they seek alternative venues. This could be where you step in.

    If you live near immigrants, people with bad credit, low income neighborhoods, or anyone else who is unable to get a car through a dealer, you may be their saving grace.
  6. 111kg

    111kg Entrepreneur

    Well, in my country, flipping cars is a very shady industry. A lot of people buy cheap cars from Germany and Holland and then sell them here, but most of them have more than 200,000 km already, not to say that most of them are rigged to show they have fewer kilometers.

    Unfortunately, there are also groups that bring top notch cars (stolen, obviously) and somehow manage to bring legit documents.

    Most of the people that flip cars are seen as shady/unstrustable, therefore I prefer to stay away. I don't like cars anyway.
  7. pwarbi

    pwarbi Entrepreneur

    There's different levels of this, as there is with most businesses. I'd your buying cars that need a lot of work then I'd suggest unless you are a mechanic and have your own garage, be able to do the repairs without spending money then it can be profitable.

    If you have no experience of fixing cars, then you'll probably be looking at buying cars that are cheap but just need a cosmetic touch up, and if that's the case I dint think it will be worth it in the long run as the profit will be minimal.

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