I see a lot of non-working used cars for sale relatively cheap on Craigslist here, with the body in excellent condition. Mostly Hyundai and Kia models from the early 2000’s, some Chevrolet Aveos, etc.
Most of these are being sold as “mechanic specials” because the timing belt failed, and now the engine has nicked pistons and bent valves, or because the coolant crossover pipe broke and the engine overheated.
I am trying to decide if today’s used car pricing would allow for someone such as me to buy such a car, repair the mechanical problem(s), and resell it for enough money to cover the cost of my time and materials. If I spend months of time working on a car, I need to make at least $1000 profit after paying for parts and materials, title transfer costs, etc.
Here in Arizona, you are allowed to sell up to 4 cars in a year without being a licensed dealer. I am looking to sell one car per year, so that would not be a problem.
Also, once repaired, I would drive the car for 5-6 months to make sure it’s reliable, and to be able to tell a prospective buyer that I personally owned this car, and am selling it to buy something else.