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/biz/ - Business & Finance

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22965338 No.22965338 [Reply] [Original]

Does anyone here fix up wrecked cars for profit? Seems like if you have the money and the tools it'd be a great way to make 100k in profit. How hard is it to fix frame damage on a car?

>> No.22965598

>>22965338
Wer can i buy ze token ?

>> No.22965755
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22965755

>>22965338
I remember a show in Discovery turbo that follows two guys who buys old not functioning cars, repairs them and sells it. I only watched one episode where they bought some old volvo for $1,000, fixed it and they sold it for $3,000. So I guess its a good job if you do your research,.

>> No.22965784

>>22965338
Impossible

>> No.22965832

>>22965784
How is it impossible? I see people on youtube do it all the time.

>> No.22965837

>>22965338
it's really difficult because it's a depreciating asset. now houses on the other hand. that's a better asset to do this on.

>> No.22965851

>>22965832
Nope thats faked

>> No.22965880

>>22965837
Why is it a depreciating asset? And i think i agree with you on on houses as you'd spend like 100k for a wrecked lambo then sell it for 200k. What would a wrecked 100k house i'd buy and fix her up for sell for?

>> No.22965909

>>22965851
How? CGI? Why would they fake it??

>> No.22965942

>>22965909
They buy the car new, film it and then crash it

>> No.22966010

>>22965880
my brother in law bought a 30k house on auction and sold it for 170k last year. he only does it as a side hobby on the weekend though so he would work on only one house at a time.

>> No.22966057

>>22965338
>run a car shop
>customer shows up with a nice Mondeo
>has an issue with the turbo
>tell him it costs a fortune to fix it and talk the owner into selling his car to me for 300 bucks
>fix the turbo (a tube broke off and fixing it cost me nothing lol)
>sell the car 3 weeks later to some guy for 3600€

>> No.22966073

>>22965338
>How hard is it to fix frame damage on a car?
It's nearly impossible. And even when someone 'fixes' a bent/damaged frame there's usually intermittent problems with for the rest of the car's life.

This is why a car is considered to be totaled if the frame is bent or damage.

>> No.22966092

>>22966073
this, if the frame is fucked I dont bother with it at all.

>> No.22966102

>>22965755
I remember seeing an episode of that show. They live in the UK right? Made me want to get into fixing cars then I realized idk how to do a single thing on a car

>> No.22966115

>>22966010
I think that might be a better idea. The problem is though i know nothing about real estate. Like where do you start? Where do you go for info? How do you know what areas are smart places to buy? Obviously really bad hoods are a no but how do you value other places more than others?

>> No.22966125

>>22966102
its like Lego bro

>> No.22966134

>>22966057

You're fucking Irish aren't you?

>> No.22966181

>>22966125
Like building a computer? Look difficult but just pieces together? I guess I would have a harder time understanding how to problem shoot. And body work seems like an art which I suck at.

>> No.22966209

>>22966073
>>22966092
These, used to flip cars in highschool, and worked at a heavy duty mechanic shop from 18-20. Don't buy cars with frame damage unless you're getting it for scrap or parts.

If you're good at body work and painting you can make tons restoring classic cars. 90s-early 00s pickup trucks are pretty good as well because they have tons of room to work under the hood and they're built pretty simple. 90s gmc's are basically indestructible engine-wise and I've seen tons over 900k, the whole truck will rust out around it, but those engines/trannies/diffs/suspension/etc were built to last unlike newer trucks which are basically garbage at 300k. There also isn't as much electronics (which again always fucking break or short)

>> No.22966247

>>22966134
Yes. THE IRISH WIN AGAIN!

>> No.22966319

>>22965338
I knew someone living in Spain who did classic cars. American Mustangs mostly, as they are the easiest to work on and you can always sell them in Europe. Modern cars need far too much equipment, and even so this guy only made a profit when the classic car market was up.

>> No.22966336

>>22965837
some cars dont depreciate, look at most manual rwd cars, they increase in value, and there are plenty that are broken because of drifting but are easly repairable

>> No.22966384

>>22966134
no not even close, why you think so?
>>22966181
>Like building a computer?
just a bit dirtier and requires more energy from you because you have to move around a lot. there is also more parts and you need to pay attention so you dont miss anything.
>I would have a harder time understanding how to problem shoot
if you know how to troubleshoot a PC its basically the same process.

>> No.22966455
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22966455

Maybe not wrecked cars, but I've always lived and worked in military communities, where people move in and move out every 2 years or so. Huge market for barely working shitbox huupties. When they get PCS orders, they usually wait until 1 week before moving to try to desperately sell. There is also the MWR auto-center that takes them for free and auctions them to the highest bidder. So I usually bid under $900 and get it.

The best deal I got was a 2001 Civic for $150. Replaced 2 hoses for $50 and sold for $2200 within 2 weeks.

>> No.22966597

>>22966209
Also another pro-tip, look for cars with really bad tie-rod/control arm damage on one side. It almost always means a woman driver smoked a curb, and they'll sell them because they're overheating because in v6's the sudden jolt will quite often knock the radiator hose loose from the engine (which is hard to see from looking down on the engine). Control arms/tie-rods/alignment is easy to fix, and rad hoses are also cheap and easy to fix

>> No.22966679

You know a large amount of cars with frame damage, even minor dents get marked as irrepairable and can never be registered?

Anyway be careful with auctions, because most are online now they're hugely popular and somethings end up getting bid up massively by boomers with the same idea as you, I remember being in a bike mechanics once while he answered a phone call and it was someone who just bought a wrecked bike from auctions and looking for parts. he complained that he gets the calls all the time and explains that he can't get any parts because people keep buying all the wrecks that they normally would buy for inflated prices.

I have had luck looking online and international for parts, even with shipping large parts can still sometimes be worth it rather sourcing locally.

As for the frame question I know for bikes there is a tool out there that uses a jig with lasers to check frame alignment and I remember talking to a young mechanic who said he worked for a truck repair place that would strip trucks down and use a similar tool to check truck chassis after they had an accident or rollover.