Fun Experiment: Flipping Cars

My girlfriend recently purchased a new car (new to us), an ’06 Jetta, and it’s given me a case of car envy. My Scion xB, great when I bought it: good gas mileage, plenty of headroom, and reliable has really become quite boring: 0-60 in 12 seconds, looks that make women look somewhere else and a high, tinny whine while accelerating. Given my current employment state (read not) I don’t have a good ability to finance a car. Instead, I’m going to try to flip up into a better car.

Simple plan of action: sell my current car through any of the classified sites, research into the best selling cars with the best margin that I can afford, buy it and flip it. Rinse & repeat ( no more than five times in a year, though) until I have a car I like… any suggestions?

I will keep people updated along the way.

3 responses to “Fun Experiment: Flipping Cars

  1. Craigslist for sure b\c it is free. eBay isn’t too expensive and always generates response. There is also Hotswap now which would give you the opportunity to test drive that site from a private seller perspective. Good luck. Be sure to do lost of pictures.

  2. Sorry to burst your bubble but your plan may not work. The major reason being is because cars depreciate FAST unlike real estate where a lucky break or a pro can “flip” a home or property for a profit. Your likely only to invest a lot of time and/or someone eles problems. Please wait until you get a job the upgrade the traditional way.

  3. I highly recommend you read my post here before getting into this sort of thing. It can turn out much different than you expect.

    If you can get your hands on one, it would be beneficial to get a copy of a recent “scarcity report” from Autotrader.com for your local market. I’d be happy to point you in the right direction on that one.

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