2005 Cadillac escalade (automatic) with 125000 miles on it. Kbb says its worth over 9k. Needs fuel lines and brake lines and the key is missing. This person is asking 2 grand I might settle for less. Kbb says its worth well over 9k in excellent condition.
2006 Tahoe (automatic) for 800 bucks. It says 2000 miles but I think it's 200,000 miles. They say it stalls out and the rear window doesn't work. Kbb says its worth around 6500 to 7k.
2002 gmc envoy (automatic) for 1500 bucks. It has 105000 miles on it and they say it needs a new battery only and to bring our own battery, they dont want to waste money on one. Kbb says its worth 4k
Id likely just fix what's wrong and sell them, or keep it for doing side hustles like moving or delivering packages. I'd probably do these side hustles once every few days or so to earn a bit more cash on the side.
I did find a few honda civics and accords for well under 2 grand that are manuals if the delivery stuff isn't a good idea.
I normally don't like suvs and trucks but if I can get something that's worth 6 or 10k for 1 or 2k that would be pretty cool. Obviously I'd have someone check it out if there's no trouble codes in the scan tool.
- Out of those I'd buy the envoy but personally I'd get a Toyota or Honda myself
Eh its more of a project thing so if something breaks I want to learn how to fix it. I already have a normal car I use for daily commuting.
So you basically want to flip one of these options. From someone with experience selling cars, let me offer some free advice:
Toss the book value out the window. I don't care if you buy it for $500 and KBB says it is worth $50k, KBB isn't going to buy your car. Older, higher mileage cars are worth whatever two people agree is fair. And if you, for example, buy that Escalade, fix it, and put it up for sale for $9000, you'll be that guy whose Craigslist post is still online next year despite your ad saying "KBB says....". DO NOT put faith in book values. Period. Nobody pays KBB, Edmund's, etc. prices. You have to know the market in your area and sell accordingly. This comes from studying sales of similar vehicles in your area and doing some math to figure out what your correct price would be.
The other thing to point out: be very, very wary of vehicles that "just need a battery." Sure, you may plug a battery in and it crank right up. But realize if there are codes in the system, they are not going to show because it takes time for the computer to see issues. Any engine codes, etc. are typically reset when the battery is removed. You may find out 100 miles later you bought a clunker.
Just some tips from someone who has been around the block a few times in this industry. I wish you good luck!
Yeah I was thinking that also with the GMC vehicle. If there are alot of codes that are "erased" are they still visible with a scan tool?
I may or may not flip it. I would use it for a side project such as moving, shipping large items that nobody else wants to, stuff like that.
They will not show up on a scan as the memory will be erased on the PCM due to it sitting with no power.