So I just joined the ranks of the millions of unemployed Americans and I have an idea. Actually i've had the idea since the beginning of the year but I finally moved (last week) so I can do it. Just without an alternative income. anyways. My question is this, how stupid would it be for me to find like a cheap Neon ($500 or so and can be other cars as well)) that needs like a head gasket or something, I fix it up and then sell it for profit. How stupid would I be for trying that without an alternative income?
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Personally, I don't think that would be a very good source for reliable income. For some cash on the side, sure.
The flaw with your idea is when you buy these cars that have issues, it's very easy to end up with more in them than they are worth. This is only talking about OE fixes, not upgrades.
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Its an idea. But then again what happens if you have to put more then the basics to get it running and you put more in it then what you can sell if for? Or if you get it fixed and no one wants to buy em??
I used to do that all the time. and I still do it when I come across a good deal. you have to make sure your not buying a lemon. and now that scrap is so low.. its hard to make any money.. I used to buy them cheap. 50-100 and then take a look at them, if they were worth it, I would fix them up. if not, I would take them in for scrap metal. or I would put them into a derby and then scrap them. I rent a shop out in the country so I can have as many vehicles that I wanted and not make my house look like a trailer park. and the MTO used to get mad at me for always selling cars and putting them in and outta my name all the time.
If you live in a largely populated area, cheap cars sell fast. Buy something for $500, put $100 in parts and some hours to get her running, then sell it for $1500 or whatever you can get out of it. As long as you can do most of the work.
The most important thing to look into is how many cars can you sell in X amount of time without having a dealers license or getting in trouble? You will have to check to see that for your area.
I would never shoot anyones idea down to "start" their own business or just to make extra money. If you got the time, the money, and the know how, GO FOR IT!!!
thanks for the opnions. I do live in Columbus Ohio so its heavily populated with lots of college students that need cheap transportation. and I know Neons pretty well for what to look for when buying that and I can build myself like 5 Neons with all the spare parts I have laying around lol. Also I don't need a steady income per say. Just $400 a month and I'll be fine. I don't spend much money on myself and I live with my parents with free rent. Only thing I have to pay myself is my $35 cell bill to my parents and $128 to my insurance company once a month. I'm still thinking though cause I know I can sell the cars here in C-bus. still thinkin though.
Another problem becomes, easily fixable problems can hide much much larger problems.
Example, when I bought my caravan, it had a couple issues, fixable issues. For one, it had trouble starting, and I could see that the ground strap was nearly dust, not a problem. Second was rod knock, that was not out of my range of skill, so for $350 I thought I was getting a steal. I changed the ground strap and it started perfectly everytime. Then I changed the rod bearings and the knock was gone. What I found next was the most common problem in any automatic chrysler vehicle, which was hidden by the fact that I had to tow it. Bad tranny. And it isn't worth fixing now.
__________________ As a DF moderator My opinion is only my own and does not represent the DF community, it's staff, or affiliates. I moderate solely based upon guidelines and not in regards to my own personal beliefs. Rear Wiper Club Member #2
Quote:
Originally Posted by PappiDread6
Hello My Name is Pappi Dread and I have an addiction, Male DF Members
I think this is a good idea. If I was good at car repair, I would do this. But if you are good at it and you can take special american cars to good condition than I would try to sell them in Hungary. I know this is complicated enough, but this is only an idea as well.
Some work opinions needed.
