"maristgrad" (maristgrad)
10/26/2013 at 03:16 • Filed to: Jeep, Grand Cherokee, SUV, Auctions, Car Flip
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"maristgrad" (maristgrad)
10/26/2013 at 03:16 • Filed to: Jeep, Grand Cherokee, SUV, Auctions, Car Flip | 2
| 16 |
Welcome to my series about the world of insurance auction cars. Now you may be wondering "Why would I want to take a chance on a damaged car?" I'll show you why taking a gamble on an auction car pays off and how much fun you can have in the process.
This Jeep is one of the first cars I ever flipped from Copart.com. For those of you not familiar with the best auction site since Ebay, here's a quick rundown. Copart is a worldwide car auction site dealing with everything from slightly used boats to totaled cars and everything in between. They hold daily auctions and provide inspection/shipping services nationwide. It's my go- to website for any car, even before craigslist.
Car Information - 1995 Jeep Grand Cherokee Limited 4x4, 130k Miles, V8, Leather.
Here are the numbers from this flip.
Winning Bid: $720.00
Maintenance and repair -
New Battery : $40.00 (on sale from Costless Auto Parts)
Fluids and Oil Change: $50.0
Body Damage: Very minimal real drivers door scrape
Time of Possession: 4 Days
Craigslist Video:
Notes: After sifting through hundreds of cars I settled on this Jeep with no reserve. It had low mileage, a v8 engine and the limited package with leather seats, so it was a no brainier. My budget was $1000. I won the jeep with a winning bid of $550.00, which came to $760.00 after taxes and fees. The Jeep died when I stopped for gas after I picked it up from the auction lot. We determined it was the battery and once replaced, it started up every time after. Also because of the low battery, the car alarm reset and locked me out of the car. I had to look up YouTube videos describing how bypass the system. Super annoying while dealing with it but after the battery was replaced it was smooth sailing. I drove the truck to work once during heavy traffic on I5 and it ran great. The V8 engine was zippy and it sometimes surprised me with how much low end torque I could feel while accelerating. I sold it to a young guy who has several jeeps, this one was for his sister. Albeit a modest profit I was instantly hooked on this new hobby. Not only did I get to enjoy a sweet SUV for a few days, I learned several nuances about Jeeps in general. Any experience which provides me with new knowledge about cars is a win in my book. Stay tuned for more stories from my car auction come ups.
TheKingOfBirds
> maristgrad
10/26/2013 at 07:34 |
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Looking forward to hearing more. I'm not really even close to any of these so much harder to pull the trigger.
Vizzini
> maristgrad
10/26/2013 at 08:41 |
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Do you end up with title problems? I would think many of the Copart cars would be on a salvage title, which could be really hard to flip.
m-b-w loves his SUBAROO
> maristgrad
10/26/2013 at 13:40 |
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How much did you sell it for?
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maristgrad
> m-b-w loves his SUBAROO
10/26/2013 at 22:19 |
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$1340
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maristgrad
> Vizzini
10/26/2013 at 22:20 |
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I'm lucky enough to live on the Washington Oregon border, and in Oregon its super easy to get either a reconstructed title or title cleaned. All you need is an Oregon address, salvage title, matching VINs and money lol
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maristgrad
> TheKingOfBirds
10/26/2013 at 22:23 |
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You can actually have the car inspected and delivered. The first copart car I purchased and decided to keep myself was a Chrysler 300 which I had inspected before the auction and delivered when I won.
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m-b-w loves his SUBAROO
> maristgrad
10/26/2013 at 23:44 |
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What do you think about this?
http://www.copart.com/c2/individualL…
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maristgrad
> m-b-w loves his SUBAROO
10/26/2013 at 23:49 |
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Everything looks great, the run and drive guarantee is usually a good sign. I would pay the extra cash for an inspection though. I always recommend getting an inspection on any car over $1000. A couple extra bucks now will save you the from any headaches in the long run. Now this car is set to sell upon approval of the seller which means technically there's no reserve. As long as the bid is attractive enough, the sellers will engage you in negotiations to settle at a reasonable price. Let me know how it turns out.
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m-b-w loves his SUBAROO
> maristgrad
10/27/2013 at 14:52 |
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Wow, the price on that beigemobile went up fast.
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maristgrad
> m-b-w loves his SUBAROO
10/27/2013 at 15:02 |
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Yea its probably going to sell between $10 and $12k depending on if a dealership is in on the bidding. If it was picked up in that range it could easily be flipped for $15-$18k. I would enjoy it for a bit before selling though, that's the best part.
HeelToe Do-See-Do
> maristgrad
10/29/2013 at 14:52 |
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How does the title process go, especially with the 3 hr turnaround car. The used cars I've bought have taken 3 weeks or so to get my title in the mail. How do you get it titled to the new owner?
Zoom
> maristgrad
11/04/2013 at 20:13 |
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I have the twin to that Jeep for a toy in my barn. Lifted a little. Black d-window steelys. 3.73 factory gears. I got it at a vehicle donation lot for $700 when I volunteered time there. A clean example gets $2500-$4000 in the upper midwest depending on the time of year, mileage no object.
promoted by the color red
> maristgrad
11/05/2013 at 05:52 |
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How does one get in on this? I was told you need to be a dealer to bid on Copart auctions.
foop
> m-b-w loves his SUBAROO
11/05/2013 at 11:02 |
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What do you expect when you post it on Jalopnik?
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maristgrad
> promoted by the color red
11/05/2013 at 16:00 |
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It varies from lot to lot/state to state. If you don't have a dealers license you can actually have a broker bid for you via the copart website.
http://www.copart.com/c2/online_salv…
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misha
> maristgrad
10/24/2014 at 01:43 |
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what you thin about this is it safe to buy a hail damaged car
http://copart.com/c2/homeSearch.…