A guy at work had a '98 Mitsubishi Montero Sport with 208k. It had shifting problems, a busted out window, and failed smog, with the ECU throwing more codes than Maxwell Smart. But it did move under its own power.
I offered him $300. He and his wife dropped it off at my house and we swapped title for cash.
As soon as they were out of sight, I fired it up and drove it to Pic-A-Part, where they gave me $400.
Total time of ownership, 1 hour, 15 minutes. Total profit, 33%.
It was a good day.
bonus points awarded if she drove past the pick and pull on the way to your house.
captdownshift wrote: bonus points awarded if she drove past the pick and pull on the way to your house.
Technically, no. But there is another branch of Pic-A-Part that is closer to them than my house is.
I'd have given you $800 sign unseen.
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(just kidding)
Was it too much to ask to have him drive it to the Pic A Part and do the deal there?
I guess you would not have enjoyed the 1 hour 15 minute ownership!
Great score!
At the Pick-N-Pull was a gent with a 76 Granada and the counter guy just flat did not want it! I offered $50 and a deal was struck. I drove it 6 miles to the scrap yard where I was met by my brother with a cutting torch so we could remove the front disc brakes (popular upgrade for 60s Mustangs). Dragged it across the scales for $213 for a 426% profit. Less than an hour!
I did buy a Miata for $500 and sell the hardtop 2 days later for $900...does that count?
Bruce
http://grassrootsmotorsports.com/forum/grm/i-just-flipped-my-first-car/39122/page1/
I made $500 without even taking possession of the car. Bought it at a mechanic's. Made a deal in the parking lot, got the cash the next day and handed the title over. He did the rest. Ran into him last year and saw the car after it was converted to a SpecMiata racing at Waterford.
My answer to the following question often plays into my decision making process when it comes to junk/project car purchases.
"Will I be able to brag to my friends about how little I bought it for?"
Glad to see I'm not alone
I traded my 100$ Taurus for a ratty xj, turned around the xj to the scrappy for 250$.... I never sat in it. I opened the door twice.
someone gave me a free 89 sunbird convertible once. i dropped it off the trailer at the end of my parents driveway(no sign, not facing road, about 50 feet back) and returned the trailer before the rental place closed. when i got back there was $300 and the car was gone. my mom said as soon as i pulled out a guy stopped and asked if he could buy it for a father son project. i had the car in my posession the 10 minute ride home. it almost paid for the car that i actually rented the trailer to go get.
ClemSparks wrote: My answer to the following question often plays into my decision making process when it comes to junk/project car purchases. "Will I be able to brag to my friends about how little I bought it for?" Glad to see I'm not alone
I would MUCH rather be in that group than the one where people brag about how much they spent. You are the master of our gang though, oh wise and great Mr. Sparks.
In reply to singleslammer:
Don't encourage him.
OK, encourage him.
Dang. I typically have my flips "pre-sold" but my time frame is measured in days, not hours. Hats off to ya'll
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