Restoring older cars. Is there any money in it?

[StealthRabbit]

'Flipping cars for profit' can be hazardous to your cash flow. I can only do 5/yr w/o dealer license, + 8% sales tax creates an issue. but, more than one of my friends makes his spending money that way. I had a good opportunity this week, but instead, instructed the seller that the estimated $1700 fix on the car he loved, and had driven for 10yrs, could be fixed for ~ $3. He was elated. We'll have her running as soon as I have an extra couple hrs at his joint and ~15 minutes on my lathe. It had high mileage, so I figured a slim profit for me (to fix & sell)

Ironically, it was a factory SAFETY recall that Mitsubishi had already done a repair on. I guess their solution was not too robust. They refused to do it again (Very bad for business / liability).

[M3 Mitch]

True dat, StealthRabbit - if a guy wants to buy a car to "flip", he needs to know the car, and the market for the car, very well. And, it would make sense not to buy a car that you would not want to own a while if it does not sell readily.

Good point too that most states limit the # of car sales you can do per year without being a dealer.

Also need to keep in mind that while we true car guys know that many Japanese and German rigs (for example) will run a half-million miles if well cared for, Average Joe is put off by more than 100K miles, and 200K will make him run away without thinking. Just sayin'.