cHiTwNGS43

iTrader: (1)

I've been debating this in my head for about a day now. One of my co-workers bought a WRX and wants to get rid of his 2001 Hyundai Sonota with 70k miles. He doesn't want to go through the hassle of selling it...he just wants to get rid of it. He says he'll sell it to me for 1k. I would clean it up a little and turn around ans sell it. You guys think I should do it? How much do you think I should ask for it?

-Steve

oohpapi44

iTrader: (1)

"Investing in a 6 year old Hyundai" LMAO, try starting off a conversation with your financial planner with that one. IMO, unless you already know there's a market for a 6 year old Hyundai (doubtful), then it's not worth the time. There's a reason why your co-worker doesn't want the hassle; because it's a hassle.

If you need a beater, pick it up, if not, let him deal with it.

PhilipMSPT

iTrader: (5)

Yeah. Don't "invest" on a 6 year old Hyundai.

The car is what it is: an effective functional everyday driver. Now, if you know someone that needs one, and you want to be a middle-man selling it, then go for it. Otherwise, it's too much hassle to find a buyer for it.

And think about the possible buyers: a used Hyundai buyer will definately be haggling as much as possible to buy a cheap car. Little profit is to be had...

J.P.

Around here you cannot get anything that runs for less then $1500 let alone a 2001 with 70k on it... Unless your in the sticks, you "could" turn a nice profit on that if it runs\in good cond.

thetopdog

I agree with JP, if the car runs well, you really don't have much to lose. As long as you realize it might take a while to sell, I'd say go for it. It's almost impossible to find any 2001 car with 70k miles for $1000. I'm actually looking for a beater for the winter, and the only cars I could find around $1000 are at least 12-15+ years old, have well over 100,000 miles and are absolutely beat up.

cHiTwNGS43

iTrader: (1)

Yeah I'm not looking to keep the car...I already have a beater accord I definatly want to turn it around...KBB gives the car around $5,000 at PPV and that's in fair condition:

http://www.kbb.com/KBB/UsedCars/Pric...izConditions=0

I figured I could turn a 3-4k profit.... I wonder if you can put a "feeler" post up on craigslist....how much should I ask for it? 4k?

blacksc400

iTrader: (4)

Huyndai is not worth the KBB price, 3K is more realisitic. And yep, you can def. make some money out of it.
Go for it.

mmarshall

I'm also with J.P. If it is in decent shape, looks and condition-wise, it's probably worth more than $1000. In fact, a Hyundai dealer.....or Car Max......would probably give him more than that right now (dealerships often buy back used cars without a trade-in).

But before you actually buy it from him, find out WHY he wants to dump it for $1000 when he could take it to a dealership and probably get more than that....I'll leave it up to you if you think he is being honest or not.

Koma

iTrader: (3)

I would take it up for $1k, so long as it's even in good working mechanical condition you could probably make at least $1k in profit.

cHiTwNGS43

iTrader: (1)

Cool...thanks guys. Yeah the guy is actualy a pretty good friend of mine...honestly he just doesn't want to hassle with meeting with people, posting it to classifieds, etc. I've seen the car and it is in pretty good condition. I'll probably talk to my neighbor who owns a car dealership and see what he says.

blacksc400

iTrader: (4)

geez, if you are nearby here, I would just give you 1500 and sell it for more!!

DzaztrBUSE

yeah Steve, if the car is in decent condition and runs good then flip that thing. Look at the local dealerships, newpapers and such and see how much they're going for. Of course dealerships will ask more than private owners so knock off 1k or so from their price. Flip it and get yourself a nice TV for your new-place-to-be.

newr

Go for it. I sold my 90 Corolla w/~300K miles for $1000.

bitkahuna

iTrader: (20)

If it's in good mechanical order and no significant accident repair then $1k for it is a bargain and yes, you could make money flipping it. Especially if you detail it.

sleeper408

iTrader: (6)

I know what I would do with it..... it would be a "parts" getter for the Lexus.