There are quite a few cars that can be easily flipped for a profit ranging from classic cars through regular consumer everyday cars up to limited edition exclusive supercars. Some do it as a hobby while others make a career out of it. Be that as it may, every car flipper knows the car market.
As stated, knowing the car market as thoroughly as possible is the crucial aspect of successful car flipping. Not all cars are profitable, and the most successful car flippers known which trim levels and engine variants of a specific model are the most popular and desirable.
You ought to look for cars that are in constant demand the entire time such as the Toyota Corolla, Toyota Prius, or the Honda Civic. If you want to go through the classic car flipping route, a 1965 Ford Mustang is always going to be popular, just like the 1950s Chevy Bel-Air.
Supercars are a bit more specific because it’s essential to known which models are limited edition and which ones are the most desirable. The Ferrari 458 Italia is a supercar that brings great value if it’s in optimum condition, and the same story goes for any Porsche GT division 911.
All vehicles have a cash value, and it’s your job to estimate the value of a specific car you are looking at. It is always best to look for cars that are relatively low mileage, ones that are in working order and don’t have any serious mechanical or electrical issues.
The Toyota Corolla is always in demand which means that selling a Corolla should not be a big problem. Another great thing about the Toyota Corolla is that many scrapyards are interested in buying salvaged Corolla models because spare parts are a profitable business, and that’s rare with everyday cars.
The Honda Civic is one of the most popular and well-sold urban cars in the entire history of humanity. The Civic continuously gathers large interest from both the new and the used car market. This means that there are loads of Civics on the market, and there are a couple of them which can be spruced up and sold for more.
Remember to always look for cars that are high in demand, and both the Civic and the Corolla are just that. As previously stated, be sure to scout for cars that are in working condition without any serious issues which can not be fixed to OEM standards.
1965 Ford Mustang
As far as classics are concerned, hardly any other car out there gathers as much interest as the 1965 Ford Mustang. However, buying and selling these can be a bit harder than it is to sell a Corolla or a Civic, but if you have what it takes, the profits can be way more beneficial.
Many of these are in a rather poor condition and can be bought for peanuts, so if you can restore it without overpaying for it, the 1965 Mustang is a great car to flip.
Ferrari 458 Italia
The Ferrari 458 is the last naturally aspirated non-limited edition Ferrari V8 supercar which is bound to go up in value as time goes on. The 458 Speciale is the true gold mine of supercars because it is the very last limited-edition Ferrari V8 supercar, it is eventually going to skyrocket in value, but the current value is already out of reach for most people.
At this very moment, there are quite a few Ferrari 458 models for sale for rather tempting prices. These cars usually don’t require much work because most owners keep them in good condition at the very least. This means that time is your friend with a 458 because the values just keep climbing as time goes on.
Porsche 911 GT3/GT3RS/GT3 Touring/Speedster/911R
Whenever a new GT variant 911 comes out, people go crazy after it because it offers the finest track performance out of every other car close to its price tag. This means that Porsche is not able to satisfy the initial demand which creates interest for flipping GT 911s for quite a decent markup.
The most limited-edition models like the 911R or the 911 Speedster are sometimes sold as much as twice their original price in just a few days after purchase. This only brings to show that high-end car flipping is a profitable business.
Is car flipping legal?
It all depends on the regulatory aspect of each state. This means that some states like NY only enable you to sell a maximum of 5 cars per year without a dedicated dealer’s license while others like Indiana enable you to sell 3 times as much as that.
So be sure to investigate the legal limits of car flipping in your state in order not to end up with tax fraud charges and many other potential criminal charges. Car flipping can be a legitimate business that brings a lot of value, but only if it’s done according to the law.
Which cars are not profitable for car flipping?
Desirable, popular cars which are in great demand are best when it comes to car flipping. Besides these, cars that have an enthusiastic following are also great for car flipping. To realize which cars are not profitable, all you have to do is look at the market prices.
If the prices of certain models are going down at a faster rate, and there are lots of unsold cars for extended periods it usually means that the car is not profitable at the moment.
Can electric cars be flipped?
Electric cars are yet new to the game, and as such, the prices are a bit inflated. This means that the market lacks diversity and it also means that the interest is nowhere near regular combustion cars, at least not yet.
However, some models like the Tesla Model 3 are popular enough and can be flipped if you can secure one at a more justifiable price. It’s always best to keep a sentient eye on the market and try to act whenever an opportunity presents itself.