Can I make money fixing rangers to resell?

[ayr423956]

This is my situation and question. I'm 16 and I've started school for automotive technician. I'm looking at rangers for sale on craigslist that need misc. repairs. The prices I'm looking at are $500 - $1000. I know that repair costs will vary according to the problem, but can I make money buying and fixing these trucks for resale. Has anyone done this or have any advise they would care to share.

 

[kunar]

ive bought/fixed/sold a few and made some cash but thats usually only when i can get it for scrap price. if you're confident in knowing what the truck needs, what it's gonna cost and what it's gonna sell for when you're done, it can definitely be worth it.

 

[rockin86ranger]

You can do that with any vehicle if you shop smartly. When you find one you would like to fix up find one in similar shape that has nothing wrong with it, compare prices and see if the repairs are worth it.

I make money on almost every car I buy, the only thing I have ever lost money on was on a car I had someone else buy and inspect for me (lost right at $850, only got $150 for the car when I sold it, never even drove it).

 

[Rose2300]

i bought my first b2300 for 1500, and only did wheels/tires, exhaust, sterieo, etc and sold it for 4k. then i bought an 03 explorer sport 2wd w/ 65k on it for 4250, put a new battery in, and sold it for 6500. you can definately make good money if you know what youre doing.

 

[alwaysFlOoReD]

But can you make a living at doing so? maybe once you get rolling but the startup costs and then waiting to sell might drive you to a regular job. It would definitely be worthwhile as a learning tool.
Good luck at school, I'm going back after 25+ years in construction. My knees are shot.

Richard

 

[brinker88]

FYI, you need a dealer license if you plan on selling more than 4 vehicles per year in most states.

 

[rockin86ranger]

it is more than 4 in arkansas, but he is correct you will become a dealer and will need to be licensed as one which is expensive to do.