I know someone selling their car for well under the retail value because they are moving. I could easily sell the car in its current condition for 00 more than what he is asking. My question/concern is how much money do I have to spend outside of the asking price of the car to make this work? The hidden costs basically.
For instance, I assume I would have to pay sales tax, cost for a new title, new registration for the car, new plates? adding the car to my insurance for a short period? The car is being sold for 00 and is easily a 00 car. Probably more if I put some time into it. I live in Florida. I would not be selling any car I currently own, I would be doing this simply to flip the car and make money.
If any experienced car flippers/mechanics could give any advice I would greatly appreciate it. I do not want to end up costing myself when I thought I was making a good investment.
It is my friends cousin's car and she is moving overseas at the end of the month and are not taking it with her. She don't have the time to sell it, nor do she have anything more than a sign in the window for advertising.
She just wants to get it sold. I am not looking for advice as to weather I will be able to make profit on the car or if she is ripping me off. I simply want to know about the cost of flipping the car.
I would rather have it where I could allow someone to legally test drive it. Can someone break down the costs for if I did want to allow it to be test drove vs if I did not allow it on the road.
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