Abubaca

iTrader: (3)

Soooo...right off the bat, this is an open discussion with no final right answer. I know that. I'm just wondering if fixing up and selling a couple cars is a viable option or a hair brained scheme.

I do want another "keeper" thirdgen, but right now it's just not in the cards. Wife and I are looking at possibly buying a house and even possibly buying a business. As much as I scour the ads, I know a 10k to 15k extra, EXTRA car isn't in the books.

But I love these cars, I love talking about these cars and I love working on these cars. ...and through shopping, I see SO many cars that just need some real love. Some are junk and would require major work. Some are priced just way too high, but there are enough that just need a few bucks and a lot of elbow grease. Heck I think a top to bottom cleaning/degreasing on a lot of these cars is worth $1000 on the asking price.

I know projects snowball. I know every car is different, and so is the needs of every prospective buyer. That being said, do you guys feel it's reasonable to expect to be able to buy a car for $1000 or $1500. Put that amount back into it, and make that much profit? Say buy for $1200, put another $1000 in it, plus your labor, and sell for $3 to 4000? What I'm looking for is the satisfaction of doing the work, and probably ultimately "saving" the car, cover my costs, and after tax and titles, "maybe" putting a few hundred in my pocket.

I know every car is different, but in general, is this possible ya think? I don't really see people doing this. We don't really talk about this. It's often all or nothing. I'd like to set a budget for purchase, for upgrade, document the project and see what happens. Curious of your thoughts.

Abubaca

iTrader: (3)

Let me also point out some of my personal thoughts. First, I do truly believe you could buy for 3000, put 5000 in, and sell for 11 or 12. Yeah, it's debatable, but regardless, you'd have real money tied up. Even if you made $4000 profit, you'd have a lot tied up and some real work to do. Purchasing for less than $2000 and putting less than $2000 in is something I could do without it showing on my financial radar. I could take a loss and not worry about food on the table. I personally would feel it, but my family would not.

I also have lots of parts collected that are sitting in my garage, as well as access to lots of parts via TGO and other places I've found that most casual owners may not frequent. Finally, I've got the experience to do just about everything short of major body work and machine work. Anyhow....food for thought.

Orr89RocZ

iTrader: (20)

Maybe for the right buyer and depending what work needed done. But i dont think these cars hold value well and resell well.

It have to be something like a blown trans/head gasket type deal that you got cheap that you could do yourself and if car was in good shape otherwise. Just my opinion

dmccain

iTrader: (2)

Honestly ive lost my a$$ on every third gen ive ever sold. Also ive felt like I got a deal on every one I ever bought. Probably because I'm one of the few people passionate about these cars along with our other members on here.

Bob88GTA

iTrader: (2)

I personally think its doable...to save a car bought cheap, sink a few bucks and TLC in it and sell it for a profit. I like your style.
The thing that I have been noticing here lately is WHOLE CARS with drive trains, not rollers, being parted out. Just last week a member on here was doing just that with a 87-88 TA. Cars are parked and forgotten for a reason....like fuel pump or something relatively cheap to fix, but just time consuming to do.

I would try one and see how it turns out.

Win some, lose some.
JMO
Bob

Bob88GTA

iTrader: (2)

I have the same problem...Feel good about it when bought....lose my butt when sold.

My old saying......Buy high, sell low. "Someday my ship will come in.....and I'll be at the Airport!"

pwessels

I am sure it could be done with this one local to me

https://vancouver.craigslist.ca/bnc/cto/6177568694.html

chazman

iTrader: (4)

I am ALWAYS looking. I swore to my friends that I wasn't going to buy another car again, until I had completed all of the little projects that my current cars required. But...this '87 convertible fell in my lap. It was like the universe was saying, I set this up for you, now buy it dummy! So I did.

As far as flipping goes, the money is made in the buy. Even if you are just detailing and cleaning up a car, it's hard to come up on top if you overpaid for it.


But....I wouldn't mind finding one car per year. A decent one which mostly needs TLC. Cleaning it up, fixing some minor stuff, touching up the paint and really bringing it to life. I really enjoy that part of it. Walking around a new acquisition with a phillips and torx screwdriver and seeing what's loose is sort of relaxing. Get it nice, enjoy it for the summer and then sell it and maybe make a few bucks.

If I ever retire, that's definitely what I'd want to do to keep me busy.

Abubaca

iTrader: (3)

I see SO many cars with decent paint in need of a good compound/polish, maybe carpet, an aftermarket walmart steering wheel and tweetie bird floor mats, 15" Sears auto wheels, and an engine bay that has never been cleaned. I don't know if I want make a profit, or simply want to SAVE the car!!!!!!!!!

....and with hundreds of thousands of these out there, I'm not one of these guys that feel like"Golly gee, we aughta save every last one" , but man some are SOOOO close to being really nice cars!

Drew

iTrader: (58)

I don't think there's any money to be made. Still.

The #1 issue most thirdgens need is paint and body. The cost of that body work and paint exceeds the value in most case. Factor in burned up 700R4s, and engines that have been beat to death... A person really has to be careful selecting the car to start with. In my limited experience, if the car doesn't LOOK good, it won't sell for what it's worth even if it's 100% mechanically sound with all mechanical and electrical issues sorted.

zya5point0

iTrader: (4)

I've won some and lost some over the years. Back in the day when there was a third gen rotting away in every other yard in town I made a bunch of money parting them out. Flipping, not so much, lol! I did pick up a nice firebird a few years back for a grand. Girl I bought it from was told it needed a head gasket. All it needed was a good tune-up! That and a good detailing. Sold it in less than 2 weeks to a 20 year old kid for $2300 Feeling lucky, a few weeks later I picked up a basket case GTA... That one didn't turn out so well. Is it possible to make money on these cars? Sure... Is it easy? Not at all...

1992 Trans Am

iTrader: (2)

It is definitely doable. Like has been said earlier in this thread, the money is made in the price you pay for it. That allows you to sell it for a decent price and make money. The paint and body issues that most low dollar third gens will require nowadays makes it hard to make real money, but if our patient, have cash and have a little luck, you can do it.

tealman92

I have been playing with thirdgens for the better part of 20 years. In my area if a thirdgen pops up for 1500-2000 I would make way more money parting it out then trying to flip it for a profit. A flip requires it to be an Iroc, gta, z28, or 5 speed tpi or a vert. Those are the key ones to flip but finding one of those at a price point to make a profit of 2000-4000 just doesn't work out. All have a ripped drivers seat, bald tires, ruined paint. Most dont run or are too worn out to. A good flip was about 10-12 years ago. You could get a clean thirdgen for cheap really cheap, and it would be driver quality just needing maintenance items and tires.

ray jr

iTrader: (2)

i flipped 3 third gens last year and made 3000 on the first one , 2000 on the second one and around 2000 on the third one .. i look for steals on all original low to average mile cars and have had good luck doing it that way , just hard to find them sometimes ..

Jbuchanan

4 years ago I walked away from a welding/fabrication job I held for almost 16 years to a job as a mechanic at a pretty big used carlot. I basically missed 11 years of my 15 year old growing up. I loved what I did for a living and made very very good money at it. My children couldn't be put on the back burner any more. Luckily I work at a very family oriented shop and they know I basically make half of what I used to make. With that being said they are cool with me flipping cars on the side. I buy and sell alot and I do it honest. I've never been able to turn a good profit on any sports car whatsoever. But I can take any early 2000s Ford Taurus, Ford escape, Mazda tribute or any pick up truck and almost double my money every single time. A good rule of thumb I use is cost+repairs+detail+$1500. If I can't get that then I don't fool with it. I usually sell 2 a month and do this after hours or on the weekend. Depending on what state you are in you will at the least need a whole sellers license. Some states allow an individual to sell so many cars a year without any kind of license. The real money I'm learning is in having a functional carlot that you can offer financing. It's a headache but that is my ultimate goal is to one day be set up with my own. If you want do some third gens just for the sake of your love for these great cars I say go for it but if you wanna flip cars to put $$$$$$$$$ in your pocket I'd go for basic transportation type vehicles.

chazman

iTrader: (4)

I hear you and you are right. But Taurus' and Escapes aren't as much fun as IROCs and Trans Ams.

cop332

For the low price you want to buy them for $1200 to even $2000, your talking about either junk/low spec cars with crazy miles (and lots of problems) that no one really wants (that is why they are that price to start with or even if it was a possible desirable car at that price again they DO and WILL need lots of money and work put into them. Thats why the trade don't have lots of Thirdgens on their lots because if it was that cheap and easy they'd all be doing it lol. Now that doesn't mean you can't come across a good solid thirdgen find out there with a lot of hunting and travelling but its not something you can do on a regular basis, I'd stick to Civics and Corollas if your looking to flip 2/3 cars a year or so on a regular schedule to make money. If you really want a thirdgen (Camero/Firebird) do it for the love or passion for these cool cars and who knows someday that car might make you a little money lol.
Good luck

Jbuchanan

Nope, never had anyone stop me in one of those and ask what year it is.

Abubaca

iTrader: (3)

I think I've pretty much thought everything you guys are saying. I really wanna do it, but deep down I don't feel I can really make money. Over 20 years of working on mine, I've developed all these skills, parts and resources, and while my car is never "DONE"....the wrenching has certainly slowed down for awhile. I just wanna work on these cars.

Jbuchanan

The problem I'm seeing with me and particularly trans ams is I'm starting to want every stinking project I see on Craigslist or someone's yard and haven't even scratched the surface on mine yet. I justified buying my 88 t/a to my wife as me needing a parts car for the GTA. But to be honest the only peice I will use is the hood lol. These cars make me dream bigger than what my wallet allows.

Abubaca

iTrader: (3)

I totally agree.

...my daughter is 9, and LOVES my car. I'm THIS close to using her as an excuse (no shame) to buy another one and keep it for her. Problem is that what I'd buy for HER, is not what I'd by if she doesn't want it 7 years from now!!!! LOL

Jbuchanan

My son use to make fun of my love for the 80s, now him and all his friends love my car and even 80s music I have cranked up. We have always been close but something as simple as an old GTA is bringing us closer. He got his permit in March and I have let him drive it a few times. He almost put it in a ditch the other day.......I'm rethinking cutting him lose in it once he gets his license. I got him a 03 Z71 but he loves these third gens.......May have to find him one with a v6 or save up a boat load and get him that iron Duke Camaro lol.

gtoger

I'm actually considering this right now myself. I've put a lot into this 1990 GTA and may see about flipping it after the interior is done. Or maybe taking up a collection of them now and putting them right in hopes that people my age will soon be looking to recapture some youth.

The question is: are there cars out there for $2-5k that you could put $5k into and sell for $15k. That's the only way it works for me. I'm a nice guy, but I'm not running an F-body charity.

I think the answer is a solid MAYBE!

vinny R

If you really just wanna work on these cars I say why not give it a go. If you really love "these cars" does it really matter how much you make as long as you turn a profit? I am one also that is thinking like you. When I bought my car It was in really good shape and mostly original. After polishing cleaning and getting her running right I have been offered much more than I paid. It was more time than money at that point. It got the wheels turning. It is ALL in the purchase as what you will make so as long as you not feeding your family this way if you did one car at a time mentality, taking time to find the right one, I think it would be fun! I have seen the pics of your car and I think your problem would be that same as mine, we might treat them as our own and go to far and take the profit out of it. The OP that does the transportation vehicle does that for the money, no worries about overdoing it. You doing it for the love of it would have to be careful to not cross that line.


BTW I love the fact you keep the stock intake on your car!

skinny z

A common point in these replies is the poor condition of the paint when looking for a decent flip-able thirdgen. If a guy could inexpensively assemble what was needed to do the requisite body work and a passable paint job, then the profit margins might expand a little. Back in the day, acquaintances of mine where in the car reselling business and their forte was the down and dirty bodywork and respray. Now while I wouldn't apply that method of less than forthright salesmanship myself (or suggest anyone here do the same), being able to do a decent paint job would make a world of difference in both what could be selected for a flip and the return vs investment ratio in both time and material.

kymmee

Of the 2 that I have sold and the one bought for parts, I have made money on all 3. But I bought the cars in 2010, 2011 when no one payed any attention to them. Not much $$ was put into them, just detailing and a few maintenance parts. Now that they are more popular, it is more of a gamble to try and make a profit. My intention was never to "flip" them, just roll over the cash to buy better ones. I have keepers now.

86Z

iTrader: (4)

my car is damn near mint and i'm tired of messing with it.. i bought a vette and i'm most likely going to part it out because no one will buy it for what it's worth. just haven't gotten the strength to take a wrench at it seeing the condition it's in.

ray jr

iTrader: (2)

theres no chance your going to sell a fixer upper for 15k .. you can buy mint originals for that price ..

chazman

iTrader: (4)

Agreed. No chance. More likely you can buy something for 5K, put $1500 into it with your free labor and sell it for $8500.

jharrison5

Being into 3rd gens for so long and having owned so many I know what parts are always needed, so I feel that if the car was bought for the right price sure you could make money. A lot of the flips I've done have involved simple fit and finish items with very little mechanical.

I personally gravitate towards Camaros since their issues are easier, and more cost effective to fix. Firebirds tend to always have headlight issues, separation of the radio pods and center consoles, and are more difficult to find parts for in my neck of the woods. So I have followed the advice of a friend and buy pretty much any camaro and related parts I can find. Take all of the bad off and replace with good, and when I don't have any cars I refinish parts for the next car I find.

beths91camaro

iTrader: (35)

Not quite, but very close........

we have gotten as high as $12k, normally $9 to $1Ok.

PurelyPMD

iTrader: (3)

Are you guys kidding? I've flipped several third gens, all for a decent profit!

1983 L69 Z28
1985 TA
1985 IROC
1987 IROC
1988 Firebird
1989 IROC
1989 Firebird
1990 Formula

Eric-86sc

iTrader: (18)

Imo as someone who has, has tried to sell whole cars the only ones to buy are just low mileage cars that just need a good detailing and minor details such as new window switches, seat belt sleeves, etc. Projects have zero desire ability unless they're dirt cheap so anything you sell has to be turn key to attract the serious buyers. Starting with a cheap slightly beat car will take too much money to bring up to par to where it's sellable.

Abubaca

iTrader: (3)

This has been an interesting thread. I appreciate all the comments. Honestly not sure if I'm leaning more towards or away from getting another one. I mean let's be honest, I WILL get one......but what model, in what condition, remains to be seen.

steves

Your $12k high what was it? I'm curious. Was it rare, low miles?

steves

I am reading through this thread with great interest because, my car at this point needs a little bit of everything. I don't want to be buried in it, if for some reason I need to sell it. I have been watching 3rd gens for about the past 5-7 years and I see a steady increase in value. It's getting harder and harder to find a cheap one that needs a little detailing and fiddling to flip. Unless your Edd China and can fix everything on your own with the proper equipment and tools I would be extra careful.

brettr81

I loved that show when it was buy cheap, fix it all on your own, and he showed you how to do it all. Now it's all classics and we're sending this out for someone else to do. Still like it, but it's not in the realm of a backyard mechanic anymore.

It is possible, but unless you luck into someone selling a really rare one and not knowing what they have, the margins for error is not there with these cars. Granted, if you buy a good roller for under a grand, you have the engine, trans and ECU all already, then you could probably do it.

My first thirdgen I bought in 2000, an 87 sports coupe with the LG4, seller told me it had engine problems for $500. The ECU fuse was blown. Bought it, went down the road a bit, popped in a new fuse and it drove beautifully.

Now, with a Firebird, it may be a lot easier to do as the price for birds seems to be higher (at least in my area).

It's all about the hunt and what you can get them down to.

steves

That's the reason Edd quit the show.

beths91camaro

iTrader: (35)

No, it was one that we redid, rust free. 83 Z, new paint, good original interior, with a 383 stroker, t top car.
It helps that I run a parts business, and we have good used items readily available
$1Ok for 88 L98 car, repainted, new interior
$8k for a 88k Rs convertible, that needed a paint job, which it got.

ray jr

iTrader: (2)

for those prices i can get all original cars in great condition ..

chazman

iTrader: (4)

To be honest, I wouldn't spend 10-12K on a car which has been redone. Too many low mile, original cars out there for that.

vinny R

and this brings us to the last part. The buyer, the butt for the seat. Everyone will have their own opinion on what said car is worth, every buyer will have an idea on what type, condition of car he or she is looking for. You won't pay 11K for something not original and Pwessel is looking for the person that will. Maybe that buyer doesn't want original, wants the fun of a higher HP with some suspension mods but wants show car quality. This guy WILL pay the 10-12K if a 3rd gen camaro is what they want The higher the price the less buyer intrest unless it is something special(original). I think the point of this thread is not what Beth is doing, she has a parts shop and access to having cars painted. It is more like what Chaz does when he buys his...I think what you did with Purple Haze is exactly what this thread is about.

beths91camaro

iTrader: (35)

We have no issues selling them. I drive them, enjoy them, 2 out of the last 3 we have sold within a month of getting it done, and the one I was asked at Walmart how much I wanted. 2 days later, he called, and my car was gone.
Bottom line there is a buyer for every kind of third gen.
Hubby is working on pinting an 87 Z right now, I will enjoy it, while he moves onto the 85 Iroc.
I dont think we will have it long at $7k, with new paint. There are ones who like shiny new paint.

vinny R

Do you guys think this is flipable? Check out this link and let me know your thoughts or if you think this is a bad example. No engine pics and the big hole in the seat hurts but I am thinking this would make a good flip. Being a vert in Fl it makes this car desirable. Get it for 3K put a couple K into it and sell for 7K?
what's your thoughts?

https://sarasota.craigslist.org/cto/6152013536.html

chazman

iTrader: (4)

Exactly. There is a butt for every seat. Lots of guys are looking for a car with mods, etc.

Me?

The more original, the more better.

The Purple Haze car was mechanically sound, needing only a couple of things and being a SoCal car was ABSOLUTELY rust free. Mostly what it needed was some cosmetic attention. The paint finish and the interior, stuff that's fun for me. I had A LOT of fun with that car, both making it look better and driving it. I put 2K miles on it in one summer, got a tan - and when it was time to move on to the '89 'vert, I sold it, the new owner got a great car and I made a few bucks. You can't ask for more than that.

chazman

iTrader: (4)

Definitely worth a closer look. If the paint is mostly original even better. Dash pad looks good, too. Gotta watch those interiors, people underestimate how expensive they can be to get right.

If I were looking for one to fix up and that one were close to me, I'd go and put some eyeballs on it. $3K is barely above parts car territory.

chazman

iTrader: (4)

Oh, for sure!

I'm the guy who's attracted to faded factory paint, though. Like we said, a butt for every seat.

vinny R

My thoughts exactly Chaz. the car is 3.5 hr drive from my house. I contacted the seller and am waiting to hear back.

jworks

iTrader: (1)

I think it all depends on the market where your at. around here you can get a decent running GTA for 3k, but cant touch a non running third gen Camaro for that. If you want a running IROC be prepared to shell out 12-15k. So where I'm at unless someone is giving you a firebird with a wad of cash its not worth trying to flip it. But if you can find a decent Camaro for under 5k even if you put a new engine and tranny in it you could still walk away with some money in your pocket.
To try to determine what they are going for I watch craigslist in my area and pay attention to the ones that are there one week and gone the next, this means they either sold or the seller changed their mind, I don't pay attention to anything that has been on there for over a month, either its not worth buying or they are asking to much.

PurelyPMD

iTrader: (3)

The money is made when you buy the car, not when you sell it. Know what you have to put into it and stay on a budget & you'll be fine. Try to stick to the principle that what you want to own others likely will too - best motor, good paint, lower miles, decent looking interior.

On the 8 cars listed above I netted over 18k due to hard work & persistence - which are easily/often confused with luck. One car I waited a year to buy - others I got because I was there quick, or had cash and my trailer with me. People are more willing to deal if they know you aren't full of ****, have the cash and are willing to walk away if it's not your price - I've had several people call me as I was driving away!

Nothing ventured, nothing gained!