Volvos lose around 50% of their value after 5 years, which is just average for flipping cars. Volvo is a luxury vehicle, and luxury vehicles don’t hold their prices for long.
If you’re thinking of flipping a Volvo, older Volvos are much cheaper to buy. An okay Volvo can be found for as little as $800 to $1500, and then after fixing it up a bit, it can be sold for more than $3000. Newer Volvos, which are much better in quality, will lose almost half of their value in just 5 years.
Flipping a Volvo
Many people buy a car and then sell it again at a higher price after doing some repairs and freshening it up. This is known as flipping a car. Volvos are often known as extremely durable cars, and they last long. People often buy older Volvos to experience the Swedish driving experience.
There are many people who buy Volvos at a lower price and then go on to sell them. Volvo models from 2000 to 2012 were not too complex, so they are easy to fix and repair. Some models can be a bit difficult to repair, but most of them are not so complex. The repairing process highly depends on the vehicle, and sometimes they can be sold again at a very good price.
If you’re looking to flip Volvo cars, then having a good knowledge of cars is a must. You should have good knowledge of what’s what under the hood and know what problem areas to look for. You should have good equipment to repair the vehicle. If you need to bring the car to a garage for repairs, then it might end up costing you a lot, so the flipping profits would be too low to be worth the effort.
More about flipping cars.
Volvo reliability
The durability and dependability of Volvo cars are a big selling point. People often buy old cheaper Volvos because the smooth ride that Volvo provides is unique. People trust the Volvo brand because of its years-old reliability and long-lasting engines. Volvo engines can easily last more than 20 years.
These reliability factors often come in handy when selling the car because Volvo is always a relevant car and people still buy it for their daily usage. They also have the best safety features, which increases their value. Overall, they are not a bad purchase and people still use old Volvos.
Volvo safety features
The safety features that older Volvo cars provide are still matchless to this day. Volvo is known for its invention of three-point seatbelts and inflatable curtains, which are life-saving safety features. These features are always a big selling point if you’re looking to flip a Volvo. Older Volvos also have airbags, which are a good thing in terms of flipping a car.
Maintenance
Older Volvo cars often demand less maintenance and their parts are decent quality that last long. Repair costs are also not too much, so they can be cheaply repaired to sell at a reasonable price. However, the newer models have expensive parts, which can cost a lot if you’re planning to flip.
Problems to fix in Volvo cars
Before buying any car, it’s important to look at the common faults of that particular car brand or model. If you’re planning to buy a Volvo, then there are some common issues which you should think about at first. Some of these repairs are expensive, such as:
- Transmission problems – Volvo cars have had problems with their transmission systems, so look out for any potential transmission system problems because they cost a lot to fix.
- Power steering fluid leakage – There have been some issues reported regarding power steering fluid leakage. This is not a very big repair but still, this should not be ignored.
- Air-conditioning failure – Some users have reported issues with the A/C, so you should look for this as well.
- Auto-braking system failure – This issue has been reported with newer 2015 XC90 models. It can be repaired, but it could be expensive if you take your car to a garage.
Selling skills
Last but not least, you will have to sell the car, which is a skill in itself. There are many websites where old cars are sold like eBay, Facebook marketplace, cars.com, Craigslist, and AutoTrader. You will have to make a good sales announcement and to take good shots of the car. It’s a good idea to take vertical pictures instead of horizontal ones.
Flip carefully and earn money
If there’s a Volvo that needs severe repairing, then you should first check the value of the car at Kelley Blue Book. If the repairing cost is worth the resale value of that car, then it might be a good idea to invest in such Volvo. However, always keep in mind that reputation is very important in flipping cars, so always try to do the best to repair the car and don’t sell people an unreliable vehicle.
Volvo is a luxury car brand and all luxury cars lose their value after some years. Volvo has a high depreciation rate due to its uniqueness. However, people still buy Volvo cars because they are solid. Post-2000 Volvo models are also safe with good shape and not just another boxy Volvo. Models like the XC70 are still praised to this day. So, overall, Volvo is not a bad car to flip.
FAQ
What is the car flipping business?
Buying a car at a low price and then selling it after doing some repairs for a much higher price is flipping a car. People also sometimes buy a car and then use it for a while and then sell it for a nice profit. Some cars have a very high resale value like Toyota or Honda, and they sell very easily.
Does people like Volvo cars?
Volvo used to make safe cars with boxy designs, which was not everyone’s favorite. However, they have changed, and now they make some of the safest cars with good sleek designs and high-powered engines. The smoothness of Volvo’s drive is also brilliant.
Volvo cars are also very solid and durable, so they even last gracefully after the warranty expires. They hardly ever demand any major repairs. Volvo cars are also loved for their consistency and reliability. They don’t break very often and run just fine.
What are the best car-selling websites?
Nowadays, everything is on the internet and people also buy their new cars online. Here are some websites that can help in buying and selling a car:
- Cars.com
- eBay
- Facebook marketplace
- Hemmings
- TrueCar
- Craigslist
