Fix & Flip Malibu, an IAAI restoration journey

Yep. Bumper cover was at the house when I got home from work.

I bought the "Economy " version which saved a ton on shipping.  They fold it for shipping, so it has the chance of a few creases....

I forgot to take a picture before I unboxed it, so here's what it looks like while relaxing back into shape.

A little wrinkle, but the color and finish look good 👍 

I welded up the  cuts I made in the radiator/core support to assist in moving things back into position:

Cut a piece from the old fender 

Got the headlight installed.  Gaps look decent.

Also got the bumper mount:

Ordered a "new but used" upper grill insert.  I was going to try to attempt to patch reuse the old one, but decided it was going to be very visible, so just paid the man.

Prepping to install old inserts in to new cover 

Lower inserts and fog lamps.

Hooray for progress!  
Will the welds be covered in plastic trim?  Or, are they just out there for all to see?

In reply to John Welsh :

I believe they will be underneath the plastic trim piece, but haven't verified that yet.  Also, I'll hit it with some paint that's closer in color than the gray primer/sealer.

I'll update the budget later, but I'm pushing hard to have it finished and ready for the next inspection which is on Tuesday July 30th.  Then I have to wait for the paperwork to process, so I'm about 3 to 4 weeks out from listing it for sale.

Great read. Can't wait to see how this flip turns out.

In reply to 67LS1 :

I'm just an average guy turning a wrench and documenting the journey.

The eBay seller is being a flake.  I bought a used grill insert to save about $20 ish $$ compared to new. (Bought it on the 15th) I think that might have been a mistake.  As far as I can tell from the tracking number information, only the label has been created.  No package dropped off yet....

That means it's very likely to NOT arrive in time to install and get inspected...... SO..... I bought a new one from a reputable (business) seller.  Lesson learned.

Sigh.

In reply to Indy - Guy :

I've seen usps say label created as they dropped it off. Their tracking is horrible. 

There was a package here when I got home from work (it was the second one I ordered as a backup).......

They didn't match, so some paint was in order:

When it's dry, final Assembly will follow.

With the paint dry, Indy-kid #2 helped me assemble the grill inserts into the bumper cover:

Ready to go in....

I wanted to test the fog lamps before final install, and of course one of them was burnt out.

(So while I'm trying to make a profit, I'm also trying to do this right, and there will never be an easier time to change that bulb).....

So  a quick late night trip to Meijer and $19.99 later:

and we have working lights:

Got it all installed:

Looks great.  State inspection this week and send it down the road!  

I figured I'd do a little "market research" to see where Malibus are priced in your market. Yours is a 2012 Malibu LTZ (loaded) with 89k.  I searched for Malibus 2 years newer to 2 years older with less (or near) 100k. 

'13 w/ 114k @ $6.3k

'14 base model w/92k @ $6k

'12 mid model w/85k @ $6k

'14 base model w/106k @ $5k

'13 base model w/99k @ $5k

'10 base model w/79k @ $7k

I recommend coming out at $6.5k.  That might land a $6k sale.  School is about to start.  This is a great car for a young driver.  

You're roughly $3k into the car.  I'm sure it will sell for at least $5k.  Nice payday!  

In reply to Indy - Guy :

nice work getting the kids involved and getting the car ready to sell.

it's a little hard to tell in the pix, so how are the color matches?

 My old post from December...

John Welsh said:

Steve_Jones said:

Indy - Guy said:

In reply to Patrick :

I think so with the low mileage.  We're going to find out if it was a brilliant idea, or just a waste of my time, effort and money.

I'm hoping it works, but not sure low miles matters with the rebuilt title.  A quick glance shows 2012 with under 100k miles are selling for $5-7k without the rebuilt.

Like this one for $5500 at a dealer with 97k miles. That being said, what's the worse case, you only make $500 and have the experience?

 

I think it will work.  Steve suggests a pre-accident value of $5k-$7k.  What we have here is a LTZ (GM-speak for well equipped model with leather and all) so lets take that towards the $7k figure.  

He has $2,350 into it.  I'll bet used parts in the right color could be $500 but lets round that for error and easy math to $1k or $3,350 into the car.  Doing this in his "spare time...with 6 kids...what spare time!"  I'll bet its a month of Sundays which means going to market in late Jan/Early Feb.  Prefect timing for early tax returns and the tax return season drives up the price of low dollar cars.  
He's hoping for $7k-$6k but even if only $5,350 he's made $2k.  Not too bad for a month of Sundays side job.  

Lets say that he finds 3 hours to work on this car a week for 5 weeks.  15 hours total.  
Sell for $5,350 the $2k profit is 2k/15 = $133 per hour.  
Half the money or twice the hours = $66 per hour
Half the money and twice the hours = $33 per hour  (likely not income taxed either.)  

I learned here at GRM that it is easier to sell common cars to common people than it is to sell special cars to special people.  As dull as a Malibu may be, it will be a great car for so many.  Car for a teen, car for a single parent, car for someone who needs to look professional on a budget, etc.

In reply to John Welsh :

John, Thanks for putting together the comps!  $6.5k seems like a pretty good starting point, I've got a few people who have expressed mild interest in it so I'm certain I'll make some profit, we'll find out soon how much.

In reply to AngryCorvair :

I haven't given the car a full washing yet, or inspected closely in the sunlight, but under the conditions I've looked at it,  I'm VERY pleased with the color matching.  I would 100% use the same eBay vendor again.

There's a lag between the inspection, and waiting for the paper work to work it's way through the system (usually about 2 weeks!) but I'll get it washed and polished and waxed in that time before listing it for sale.  Once it's cleaned up, I'll update you guys with my opinion on the colors.

I've got two more things to get taken care of tomorrow,

1. Replace the windshield washer nozzles (these have to work when test, and I broke them when replacing the hood

2.  I've got to the the check engine light fixed.

Code is a "P0010"

Should be an easy swap.

Really satisfying to watch this come together!

im so sketched out by Amazon parts 

In reply to spandak :

This is a SUPER simple part to swap out, so I'm not too leery of taking a chance.  Which is what I did when this showed up today....

Got it installed,  Cleared the codes, take it for a test Drive. And....

Success  

No more check engine light 

Wow, that's a $25 part with $25 worth of packaging.  I would have figured something more akin to a spark plug box dropped into an Amazon envelope.  Maybe even an Amazon bubble envelope to be real impressive.  

A Rock Auto sample which is $27 each before shipping or $68 for the two, shipped.  

About to get it inspected.

In reply to Indy - Guy :

Does that flip the title to rebuilt vs salvage?

In reply to Steve_Jones :

Sorry for the delayed response. (busy yesterday)

When purchased, this car had a Salvage title (which can NOT be registered in Indiana) but after this step it will have a rebuilt title issued (and then be able to be registered & road legal).  The Malibu passed inspection with only one modification needed:  The window tint was too dark so I had to peel it there before it would pass (just the driver and passenger front windows)

If you’re curious about the process read on, if not, skip the rest of this post.

Indiana has a “Salvage Restoration Packet” that must be completed & submitted.  It generally goes like this:

1. Repair what ever is wrong with the car caused by the collision
2. Have the car towed to the inspection site and inspected
   1. Inspection includes checking all of the following:

• Check ALL exterior lights for their function (including reverse light)
• Horn works
• Wipers work and washing fluid must squirt
• NO lights on the dash (check engine, tire pressure, air bag etc)
• Does the engine start (lights, referred to above are with engine running)
• Visual verification that components have been replaced/repaired (i.e. Hood, fender etc.)
• Pictures of the car BEFORE any work has begun (to assist with the above inspection
• Receipts for items purchased
• Verification of VIN number and title match

3. There is ZERO driving inspection.  The car remains on the trailer / tow dolly during the entire inspection.
4. Theres a few forms to fill out and include with the paperwork to submit (with pics and receipts discussed above)
5. Inspections are only done every two weeks.  And as far as I can tell, they are ONLY done in Indianapolis, no other part of the state.
6. Submit payment of $15 and wait for your title to be sent to you (they say it’s usually 10-21 business days)

Edit:  This is the fourth car I've taken through this process.

In reply to Indy - Guy :

Nice, rebuilt is so much better than salvage.  I assumed thats what the inspection did, but you know what assuming means, lol

The title FINALLY arrived in the mail today. So I can get it listed this weekend.  Here's some pics I snapped if it the other day after washing it 

Looks great. Hope you get a quick sale. 

Somebeach (Forum Supporter) said:

Looks great. Hope you get a quick sale. 

Thanks!

 I put it out at the end of my driveway Friday night.  It's Sunday at 1:30 pm and I already have a hand-shake deal on it.  Verbal sale for $6,000.  I'll circle back later and total my expenses, then let you guys know exactly what I profited.