Buying a car then selling for profit?

ForeverYoung90

I know a fella who has owned 3 different cars(passat,golf,passat) over the last 6 months and claims to have made a 4000e profit.He is very good at haggling a price and then is in no particular rush to sell on again.Thoughts?

challengemaster

He'll go far

ForeverYoung90

challengemaster wrote: »

He'll go far

Is there legal issues or?

challengemaster

ForeverYoung90 wrote: »

Is there legal issues or?

Nope. If someone wants to buy a nissan micra off you for a million euro, that's their problem. Nowt wrong with selling it to them for profit.

FearDark

4k profit? Fair play to him I say, I'm finding it hard to sell my own car at the moment and I'm selling it for 60% of what its actually worth. Cant shift it.

ForeverYoung90

challengemaster wrote: »

Nope. If someone wants to buy a nissan micra off you for a million euro, that's their problem. Nowt wrong with selling it to them for profit.

Then whats with the hel go far comment

Nissan doctor

ForeverYoung90 wrote: »

Then whats with the hel go far comment

It means exactly what it says IMO, he'll go far. 'He'll do well' might be simpler.


@OP, What do you want our thoughts on? Buying cars and selling at a profit is how the entire motor sales trade works.

savagecabbages

When buying: get a good deal.
When selling: find the right fool with money;)

The aul fella deals a little in cars and has brought in from the UK in the past. Two different times he brought over the same model year and spec car from UK, one sold in 2 days, the other sold after 2 months and a massive hit.
Its a grand game to be in if you've a bit of spare cash to absorb a hit on something you cant sell....

seanybiker

ForeverYoung90 wrote: »

Then whats with the hel go far comment

It means he will go far. He's doing a good job, keep doing it and ....well he will go far


Edit. Page didn't load fully so I didnt see the other replies.

books4sale

...some lad's only ever tell ya the good news.

For every 4k they make, how much did they lose?

You won't find out cause they'll never tell.

ForeverYoung90

ForeverYoung90 wrote: »

Is there legal issues or?

Once they're his own private car he has no tax liability on any profits, there is a certain number of cars a year sold that requires you to make returns, it's more than 3 though.

For Forks Sake

savagecabbages wrote: »

When buying: get a good deal.
When selling: find the right fool with money;)

Passat, Golf, Passat the OP mentioned, I take it his mates target market is wannabe 'felters?

Nforce

Done it myself in the past...bought a VW Vento for 2.5k,fitted a leather interior and managed to get 5k a year later. Then I went out and bought a VW Bora TDi for 10k..sold that 2 years later with 18" alloys and a suspension kit for 13k.Bought an E46 320d for 20k and turned down an offer of 25k for it.
As the saying goes...you need to speculate to accumulate.:P

Nissan doctor

For Forks Sake wrote: »

Passat, Golf, Passat the OP mentioned, I take it his mates target market is wannabe 'felters?

Or using his head and noticing that people will throw their money at a VW badge no matter what.

MidnightQueen

Nforce wrote: »

Done it myself in the past...bought a VW Vento for 2.5k,fitted a leather interior and managed to get 5k a year later. Then I went out and bought a VW Bora TDi for 10k..sold that 2 years later with 18" alloys and a suspension kit for 13k.Bought an E46 320d for 20k and turned down an offer of 25k for it.
As the saying goes...you need to speculate to accumulate.:P

Fair play to you. What would you buy for about €1000 to make a profit after?

_Conrad_

KittyKat wrote: »

Fair play to you. What would you buy for about €1000 to make a profit after?

A small car with a reputation for reliability, like a toyota starlet for example with a reasonable amount of nct but maybe needing a clean and polish and a few little bits like bulbs or some bit of trim fixed, nothing that's going to cost lots. Should be possible to make a small profit on it. I've done that sort of thing myself fairly regularly myself in the past. Give it a really good clean inside and out, polish it, take good photos in a respectable/tidy location and re- advertise it.

Or something like a 90s diesel VW, if you find one with test and diving well, but filthy and looking messy (needs a straight-ish body), again you'd be surprised what value (relatively speaking) a good clean and being presented properly can add. Pick something relatively local too so as not to cost yourself too much money and time travelling.

You can often make a small bit on anything like that.


Should add that for the starlet you'd want to go a bit under the thousand mark when buying it, could also substitute a corolla, or for less money a carina E (margin would be tighter on that though but people will always buy them)

Nforce

KittyKat wrote: »

Fair play to you. What would you buy for about €1000 to make a profit after?

Well I bought an 02 Opel Omega (2.2lt,NCT'd, Full Opel SH, 59k miles,all the toys ie heated leather,xenons alloys,cruise,dual climate) recently for not much more than that. Car originally cost around €40k new? Can't see me making anything on it,but it'll cost me fupp all over the course of a years driving (excepting tax,petrol and home servicing).

savagecabbages

Nissan doctor wrote: »

Or using his head and noticing that people will throw their money at a VW badge no matter what.

As long as the money ends up in my pocket I have no problem with that:p More power to them!

MidnightQueen

Sound lads! Actually want a corolla but its so hard to find a good one for a decent price. Anyone recommend a corolla worth buying? Cheap tax?

Big Nasty

I did a bit of this a few years back when I had more spare moola. Made a few bob on some yokes and lost on others. Then again I was buying with my heart not my head.

savagecabbages

MCMLXXV wrote: »

I did a bit of this a few years back when I had more spare moola. Made a few bob on some yokes and lost on others. Then again I was buying with my heart not my head.

I'd go as far as to say you cant love cars to make money out of them!

_Conrad_

KittyKat wrote: »

Sound lads! Actually want a corolla but its so hard to find a good one for a decent price. Anyone recommend a corolla worth buying? Cheap tax?

90s corollas are as bland as bland can be* but tough as old boots and always have some bit of value one it'll move under it's own power. Look after one and it will go on indefinitely.
If you want a reliable A to B car that won't give you hassle they're a good bet. From memory they're (i think) 1331cc in their 1.3 petrol form so cheap-ish tax and ok power for their size. Tough engine too.
2.0 diesel is mega reliable and hard as nails, can't kill them, but the tax is stupidly high compared to the slowness of the car. Even a 1.9d non turbo VW of the same era feels a lot more lively.
There's some various other petrol engines like a pretty nice jap spec 1.5 16v and 1.6 petrol also and the (rather silly IMO) 1.8 gxi which are expensive-ish to insure, fairly thirsty (compared to the others) and not very quick.



*not quite as bad as a 90s nissan though. (performance stuff excluded)

Nforce

Yep..there's risk involved..especially with the more you invest in the purchasing of a car. You'd really need a buyer in mind before purchasing the car.


Edit: Just remembered... I bought a mk4 Golf a few years ago and made 1k profit on it less than 24 hours later as I knew someone who was on the hunt for a clean example.

mondeo

Small cars that sell, this is what I would be buying if I was looking to make abit of a profit. These type of cars should sell all day long. I have done this myself in the past. Nice little starter list to go on a hunt for. Spit and polish and a quick hoover out and good to go

Vw Polo,
Peugeot 206,
Nissan Micra,
Seat Ibiza
Ford Fiesta

shawnee

The trick is to buy the car at the right price when you don't need it . Know enough about them to check them out. Then wait until someone needs the car and is prepared to pay your price. Buyers are much more likely to pay the price when they need that car at the time you are selling.
Margins however are pretty tight at present and you will sometimes look at four before buying and then again you may show it to five or six before selling. If you don't mind or even enjoy that kind of thing , then have a go.

-Corkie-

mondeo wrote: »

Small cars that sell, this is what I would be buying if I was looking to make abit of a profit. These type of cars should sell all day long. I have done this myself in the past. Nice little starter list to go on a hunt for. Spit and polish and a quick hoover out and good to go

Vw Polo,
Peugeot 206,
Nissan Micra,
Seat Ibiza
Ford Fiesta

Very good advise there..:)

I have sold a good few cars and made a nice profit on them all..

MidnightQueen

What about the honda civic? The little 1.3ltrs? An example of one here. http://cars.donedeal.ie/for-sale/cars/2645330

Big Nasty

If I was to have a go at it again I would be following the bangernomics thread and buying cheap cars with long NCT up to 1.6L. I like to see luxobarges on bangenomics but fecked if I would buy one to try make a quick turn on these days.

I'd go with cheap stuff up to 1.6 with 3/4 months left that might need a tyre or too and a Saturday morning clean with an oil change, run it through the test and sell with 15 months test. Could get caught with a sh1tter (unlikely ish) but NCTs sell cars, short NCTs don't