Quote:
Originally Posted by thepenguin99
It sounds like you really don't want to buy a car for resale. Have you thought about brokering the car for him? Make a little money but you are essentially just doing him the favor of selling it for him.
I think financially the car would be better to sell as is. It sounds like it runs and drives fine, just uses oil. A car like that isn't going to bring MORE than 6k over its current value if you redo the top end. A DIYer looking for a project would probably happily buy the car for repaired value minus 4-5k and do the work themselves when it gets bad enough that it annoys them.
As far as value as is. I think I would price it 14k. Be prepared to take 13...12 if you want it to sell fast.
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So, $14k as it sits, $20k after the repair? (more or less, with wiggle room?)
Edit: I would like to make a nice car available to the wider community, rather than have it sit in a garage forever. But if it doesn't make financial sense, then no, I would rather not buy the car, fix it, then resell it. I WILL NOT buy it then flip it as is. Only as a repaired car (assuming it needs the repair to begin with) - that's the only way I get involved in this deal.