That being said, if you don't mind waiting a little longer for the sale, you may find that specialty vehicles can be very profitable, often making more profit per car than common vehicles. Some people flip or restore just a few classic or exotic cars per year, but earn up to $30,000 per vehicle in profit alone.
Japanese cars are easy to flip
If you're planning to flip a car, and don't know where to start, then a Japanese car like a Honda or Toyota are great examples. The market for Honda Civics never seems to lose steam, especially for older, clean examples, and the same goes for the Toyota Corolla.
When setting the budget for your first car flip, people with experience suggest $1,500 as a starting amount. That gives you enough to buy a decent car at auction with moderate to high miles while leaving room to make about $500 to $800 in profit. These same experts say you should set a top-end limit of $5,000.
In terms of buying a vehicle and turning around and selling it without registering it, this is against the law, but there are exemptions. Reference California Vehicle Code Section 12120 VC and 12121 has exemptions to 12120.
To get started, here's a list of the best items to flip.
There are two primary ways in which one can make money on salvage vehicles. First, you can use salvage cars to mine for spare parts. Second, one can essentially 'flip' salvage cars to turn a profit. ... It would be unlawful to resell the vehicle without disclosing that it has been rebuilt from salvage.
Curbstoning is when a dealer poses as a private seller to sell a car. By curbstoning, a dealer can avoid having to comply with the same regulations dealers are upheld to. ... It could also mean unknowingly buying a car that has been in a flood and suffered severe water damage.
Read on.
How Much Money Can You Make? You aren't going to make a living at this unless you flip high-end used cars or get a license so you can do more volume. ... In other words, you can make a few thousand dollars of extra income each year buying and selling used cars, even if you're not a “car person.”
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