What Are the Best Cars to Flip for a Profit?
Flipping cars is a fun hobby and a good way to make some money if you know what you’re doing. Of course, just like flipping houses, it takes time and experience to get to know the car market and get your resources to get the most money from flipping a car. But if you’re just getting started, then you will probably want to know which cars are the best to flip for a profit. Here are a few suggestions.
1. Japanese cars are easy to flip
If you’re planning to flip a car and don’t know where to start, then a Japanese car like a Honda or Toyota are great examples, notes First Quarter Finance. The market for Honda Civics never seems to lose steam, especially for older, clean examples, and the same goes for the Toyota Corolla. Needless to say, there are a lot of Civic, Corolla, and Accords on the used market that are inexpensive to buy and get you started flipping.
In fact, many of them can be found for around $1,000 to $2,000, and the best part is that OEM parts for these cars are cheap and easy to find, so repairing and cleaning up the car is relatively easy. Make it look nice and clean, and you’ll likely outshine the rest with your newly refreshed Honda or Toyota.
2. Minivans, SUVs, and trucks
Family cars like minivans and SUVs are great to flip for a profit since there is a lot of demand for them. You can typically find a lot of Honda Odysseys and Toyota Siennas for a fair price, although you’ll want to stay away from the Odysseys from the early 2000s as they tend to have transmission issues. Dodge Grand Caravans are also fairly cheap and inexpensive to repair as well.
Otherwise, you can also check out the truck market as older Toyota models like the Tacoma, although those are relatively high priced nowadays, or a Ford Ranger, which can be found on the cheap as well. If you want to go the SUV route, then older Toyota RAV4s can be easily found and flipped, as well as the GMC Yukon, which is one of the longest-lasting SUVs and fairly inexpensive to fix. If you want a Japanese SUV, you can look into a Honda Passport, as the older ones can usually be found for around $2,000 and are easy to fix.
3. What about classic cars?
If you can find a nice classic car to restore and flip for a profit, that would technically be ideal, as there has always been a strong market for those. The typical muscle car flip candidates are the 1965 Ford Mustang, the 1969 Chevvy Nova, and a 1950s Bel Air. However, you might have difficulty finding some cleaner examples on the market to flip easily, so be prepared to spend your top dollar on either the initial buy-in price for the car, the parts, or all of the above.
4. Remember to choose wisely
Flipping cars for a profit can be a fun and easy way to make some extra cash as a hobby, but it’s important to pay attention to the market and recognize whether or not the car that you’re planning to flip is worth the time, money, and effort. The aforementioned models might seem like easy or safe pickings, but if anything, they are definitely a good place to start.
