Buying and selling cars to make $$$

[11 footer]

I've had my eye on a Crown Vic parked at my school for weeks now.<br /><br />Its a '91 Ford Crown Victoria LX, it was donated to the automotive dept. at my school because the owner could get more money in a tax write off then by trading it in.<br /><br />It has all new rubber all the way around, the interior is MINT from what I can see, body has no dents, paint looks great with minor rust on a few places.<br /><br />The car has been sitting outside at the school for a few months now, some kid backed one of the school vans into it and smashed one of the tail lights, but thats minor.<br /><br />I went to the shop teacher today during lunch and asked him about it, it hasn't been touched since it was parked, it was driven to where it is now.<br /><br />There is some law thing where the school isn't allowed to fit donated cars and sell them to students, the since it hasn't been touched he thinks they can sell it. He is going to try to find the keys and start it for me tomorrow, I'll be able to put it on a lift and go threw the whole thing myself. <br /><br />I can get if for around three hundred bucks, I don't plan on keeping to for myself, I'd like to make a few minor repairs and sell it, hopefully for a profit, I think its gotta be worth at least 1,000 if not maybe more all waxed up.<br /><br />Its baby blue with dark blue pin stripes and white wall tires, looks like a cream puff grandma car.<br /><br />Am I thinking realistic here, or do you think I'll loose money?

 

[11 footer]

Re: Buying and selling cars to make $$$

I looked around, this is what it looks like, same everything, from the wheels to the color.<br /><br />

 

[Kenneth Brown]

Re: Buying and selling cars to make $$$

Not at $300 buying price you won't. You should be able to turn a pretty decent profit off of it. I deal in cars, sort of. If someone has something they need to sell real bad I look into it. I usually have enough to cover it and I wait it out till I can make a good profit.

 

[11 footer]

Re: Buying and selling cars to make $$$

Actually, that looks more silver to me now.....anyway its close.

 

[Boomyal]

Re: Buying and selling cars to make $$$

Great car Ryan. I had a 88 Grand Marquis. Same, Same. Was really sad when we got rid of it at 105k miles. Still ran like a dream. My wife and daughter got caught in Atlanta on 9/11. She bought a new car to get home in. I didn't drive the car regularly, it was my wifes. While she was gone I drove it and kept remarking to my son what a dream it was. Little did I know that it's time in our garage was short lived.<br /><br />Kelly blue book says it is worth about 2k (private party) with 125k miles on it. You should look it up with your zip code.<br /><br /> http://www.kbb.com/kb/ki.dll/ke.kb.sp?kbb.WA;981017;WA011;&98685;+p&&usedCars;slp

 

[JB]

Re: Buying and selling cars to make $$$

I can see it now. "Honest Ryan's Used Cars".<br /><br />You gonna "Tote the note" ?

 

[DJ]

Re: Buying and selling cars to make $$$

Ryan,<br /><br />Used automobiles are just like real estate. You do not make money when you sell them, you make it when you buy them.<br /><br />Buy right-sell right.<br /><br />Look it over well, lot rot sets in quick.

 

[LubeDude]

Re: Buying and selling cars to make $$$

Ive bought and sold many cars over the years and fixed them up and resold them, usually wrecked in one way or another. Bought one with a fire under the hood one time, (that was a mistake).<br /><br />If you are going to do this you need to look at the market. Thats not really an economy car and with the gas prices the way they are you might want to think about it. Ive found that small, clean slightly damaged, paint faded or pealing, good interior cars are the easiest to fix up and sell. I look to see if I am going to have to buy expensive parts first with a quick walk around. Tires can be had at tire shops used with good tread for less than $100.00 and sometimes new for that price on small cars. There are usually lots of (Take offs) now with people buying new wheels). You can sometimes buy upgraded stock wheels and tires for a great price to dress the car up some. Remember that you will have very near $500.00 in materials even when trying to be cheap if you have to do bodywork and buy paint. Try and stay away from the cars you like personnally that the younger people drive, as they usually have no money and will try and get you to trade or some such thing. Vehicles in the $1,500-3,000 selling range is usually a good slot. 4 doors are genurally better. Remember, you are not selling to yourself, you are trying to be in the biggest market you can be in. For a final thing, ALWAYS go with the person thinking about buying the car on a test drive and ask to see that they have insurance.<br /><br />

 

[mellowyellow]

Re: Buying and selling cars to make $$$

ditto DJ, u make yur money buying, not selling!<br />the ford in question is a great buy at $300 if<br />the motor and trans are solid...<br />good luck,<br />M.Y.

 

[Jack Shellac]

Re: Buying and selling cars to make $$$

"Big Hearted Ryan's Pre-owned Autos" sounds good to me.

 

[Kenneth Brown]

Re: Buying and selling cars to make $$$

Be sure an keep 'em clean with the neighbors preesure washer.

 

[11 footer]

Re: Buying and selling cars to make $$$

I was dissapointed today <br /><br />The teacher found that its againts the law to sell the car, because it was donated. Even though it hasn't been touched, it can't be sold because when someone donates a car to the school they get a tax write off, and once someone writes off a car it can't be resold. Its not a school rule, its a Mass law. He told me I could take any parts I want off it, but I can't take the whole thing.<br /><br />So I think its fate will be a practice car for the automotive shop, after its taken apart once a week for a year the'll junk it, so this car is gone its a shame too, because its really to nice for that, most of the cars that get donated are sh!t, but this isn't.<br /><br />Now that I'm on this idea I'm going to look around for something else to do the same thing with.

 

[Boomyal]

Re: Buying and selling cars to make $$$

Keep in mind LubeDudes recommendation for small inexpensive, economical cars. Ya gotta be able to price em right or you'll get chewed up with advertising costs. You might also want to check your state dmv laws re how many cars you can sell in a year before you have to sign on as a "DEALER"

 

[Throbbin Rods]

Re: Buying and selling cars to make $$$

I buy and sell anything mechanical that I can make money on. For me the key is to buy chep cheap and sell cheap. If I have to keep it more than 2 weeks I paid too much. Jeeps, Boats, Cars and ATV's supported my family while I was out of work for 3 months. You really have to register as a dealer after a certain number? I better look into that.

 

[Boomyal]

Re: Buying and selling cars to make $$$

Originally posted by Throbbin Rods:<br /> You really have to register as a dealer after a certain number? I better look into that.

It's my understanding that most DMV's don't cut a lot of slack on that subject. Probably #1 they want their cut and #2 there is so much fraud in the auto sales business they want to hold pretty tight reins on those in "the business"

 

[11 footer]

Re: Buying and selling cars to make $$$

I heard of that happening to a guy once.<br /><br />Their is a gas station near our house that always had cars for forsale on the lot, the town meeting members talked about it at one of their meetings and they made him stop because he didn't have a licence to sell them.<br /><br />Being a used car dealer in MA isn''t so great, when Licenced you have to fix anything that happens to the car you sold for 30days after the sale, I guess they is to keep dealers honest.

 

[cajun555]

Re: Buying and selling cars to make $$$

The same thing was about to happen to my dad. he was buying and selling several cars a year and the clerk at the DMV mentioned he might have to get a dealers licence.

 

[ndemge]

Re: Buying and selling cars to make $$$

I find it hard to believe that once a car is donated it can't be sold.... there are a lot of non-profit orgs that make their money by selling donated cars... but you are a diff state, and never underestimate what those yahoo's in the big office can do.<br /><br />Make a "Donation" to the school, have the school "donate" the care to you.<br /><br /><br />Remember at fund raisers at my HS, they would GIVE away beer as a thankyou for making "donations".... just played the game.