Welcome to my car first car flipping and my beginner experience trying out a side hustle here in the UK, how much money can I make is it legal and what are the pitfalls.
Welcome seasoned readers here I am giving something else a go to try and turn a profit take a look at my previous blogs for other things I have tried.
The car I purchased was a Vauxhall Zafira 2011 SRI 1.8I petrol with 115k Miles on the clock from an auction house explanation how and where later on.
what does flipping a car mean ?
The term flipping means buying something cheap to sell it on for a profit. In this instance, it’s sourcing a car online or at a car, auction deciding on a valuation using various methods then hopefully selling on for a profit.
Realistically it’s not that different from a small car dealership they source cheap and can add extra on because they are offering a service or warranty with the car.
I’m just selling it on as sold as seen.
Is flipping cars profitable in uk ?
The short answer is yes I bought the car for £1,165 spent £137 on parts then sold it for £1,750 making £448 for about a days work not bad for a days work. Breakdown of costs below.
Whether it’s profitable or not all depends on a multitude of things, a few below with an explanation that can affect supply and demand profit and losses.
- Price Point ( How much you pay)
- Cost to repair fix issues
- Market conditions
To show with examples I will use the Zafira we just sold below.
All I ask of you is to not risk money you cannot afford to lose I had cash in the bank for this it’s taken me a couple of years to become debt-free but it’s the place to start then you start to build wealth.
If you want to see how I did it and a guide for you to follow Click Here
Guide to car flipping in uk
As this is my first flip and I’m documenting everything for you to see and I have made a profit I guess this is a great guide to follow.
One of the most important factors as this will affect everything the cheaper you can buy the more profit you can make.
How to work out a price point and if a profit is available.
For example, I purchased the 2011 Vauxhall Zafira SRI 1.8I with 115,000 miles on the clock for £1,165 inc fees from BMA Bridlington motor auction invoice below.
Firstly take a look around find cheap cars, compare prices of similar cars if someone needs cash now and you have it and can wait a couple of weeks and sell to a higher price that’s a perfect scenario actually.
I checked local selling pages, Autotrader and eBay for cars in my area. I found that there wasn’t very many and the price seemed quite high.
Price online £1600 – £3000 (£1,600 private – £3000 Garage)
I decided the highest I would go would be £1000 and still have a decent profit, there was a bit of a bidding war with another chap but I ended up winning in the end.
What I didn’t expect as you can see from the invoice was the charges from the auction centre £165 which means they made 16k selling 100 cars wow I think I might start auctioning cars instead.
As mentioned there was only about three or four for sale in Hull so that helps put the price a bit higher.
I marketed the car at £1,850 on only free to list services I started with gumtree see pic below.
I also listed on the Facebook marketplace you can add to multiple places I think it got listed on 13 different pages in one click. Which was great and that’s what managed to help me sell the car in the end.
Cost to repair and fix problems
I only spent £137 luckily to fix the issues on this car below is the breakdown.
- £37 – New Battery.
- £25 – Fuel Put too much in Grr sold with 1/4 of a tank.
- £10 – Gear Gaitor, Leather piece around the gear knob.
- £10 – Electric window switch Faulty.
- £5 – T-Cut for brightening up paint work.
- £50 – flexi exhaust, paste, gasket, clamp
Reasons why I had to replace the parts above some obvious some not so.
Replacement battery whilst driving back from Bridlington all the dash lights kept on going off intermittently. ARGH, I thought we had major issues but I started with the basics and a bit of googling changed the battery and the job was done fixed.
Fuel Drive back from Bridlington and driving around Hull
Gear Gaitor The leather had deteriorated around the gear knob and made it look worn so I decided to change it looks ok was a twat of a job, to be honest, lol.
Electric Window Switch Drivers side controls all worked except the passenger window you could do it down but it wouldn’t go back from the driver’s side passenger side worked fine.
I ordered the wrong one 😆 so left it faulty..
T-Cut Helps remove small scratches from paintwork and brightens up paintwork definitely WORTH DOING…
Exhaust – Blowing quite badly at Flexi joint so ordered and fitted new. All parts new and exhaust not blowing in the wrong place now just out the back.
This will be different everywhere in the world its a case of supply and demand if you’re trying to sell sand to people on a beach you would struggle to get a sale wouldn’t you but have a Mr whippy machine you would be quids in.
Check the market how many of these cars are for sale and the price contact a couple to see if they are still available, keep an eye on the market what cars seem to move fast.
But one major piece of information that will help you is…….
Just get on with it stop wondering doubting and thinking you cannot do this.
If you have an interest in cars and are handy with a spanner like me you cannot go wrong even if you only break even I would still enjoy the process if it breaks down and is costly to repair pull it apart and list all the bits on eBay I’m sure you will make your money back may just take a little longer.
Is car flipping worth it ?
Yes, I Made £448 on my first hustle you can too just take a look at my blog for more info.
Well as they say nothing comes for free and a little risk needs to be taken to succeed
I’m quite capable of taking on most tasks with just about anything armed with YouTube and a bag of tools but if you’re having to pay for the work to be done there would be very little profit.
Hopefully, it’s not just beginners luck this time as it has paid off this time to the tune of £448 profit.
I’m thinking of doing videos of the process the buying the repairs and the selling would it be something you’re interested in seeing let me know in the comments
That’s a decent return investment
Will I be doing it again?
Yes, But I’m working away for the next three weeks but once I’m back I’m heading straight to the auction house again.
The plan is to buy and flip a car in the three weeks that I am off. Two if I can really pull out the stops.
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