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Old 07-27-2013, 12:42 AM   #1
monsterkx2fiddy
 
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flipping a camaro?

I found a 2010 ls camaro, manual, 9k miles.
I would be paying 15.5k dollars. It is about $120 less than nada rough trade in price. (same thing carmax offered me for my last truck) What do you think my odds would be of flipping this car for a profit?
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Old 07-27-2013, 12:46 AM   #2
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Im hoping to buy an lt afterwards. But im having a hard time finding one in any of the southern states. Maybe some extra cash would help me
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Old 07-27-2013, 12:50 AM   #3
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Sounds like room to make some cash on top what you get it for if you market it right. Should pull at least close 20k if it's clean. Do a little more research and go for it.
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Old 07-27-2013, 01:20 AM   #4
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Originally Posted by JewelSS View Post
Sounds like room to make some cash on top what you get it for if you market it right. Should pull at least close 20k if it's clean. Do a little more research and go for it.
Dont I have to pay taxes as well? So it would make it cost aroun. 16500. What kind of research should I be doing?
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Old 07-27-2013, 01:43 AM   #5
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In order to do it LEGALLY, you have to get the title signed over to you, get a new title in your name, pay all of the sales taxes, tags, transfer fees, property taxes (if applicable), wait for the state to issue you a new title, get it insured in your name (the state won't issue you a title without proof of insurance) then sell it and transfer the title to your buyer. The transaction fees sometimes eat up whatever profit you might make. Some people who do this regularly just have the seller sign the title and leave the buyer's name blank, and put the new buyer's name in when they sell it. That's called an open title, the practice is called jumping title (because the seller has jumped the interim buyer, and it's illegal in virtually all states, but if no one finds out, what the heck? Big problems arise when there's a later dispute between the new buyer and interim buyer, and it comes to light that the interim buyer didn't follow the law. I'm sure this is probably more than you want to know, but I'm a lawyer and can't help myself. Oh, yeah, I also have a dealer's license.
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Old 07-27-2013, 06:39 AM   #6
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2010s are NOT 1LEs. LS is not a 1LE

wrong forum.
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Old 07-27-2013, 10:52 AM   #7
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$15,500 sounds awful cheap for a 2010 w/ only 9k miles. I have never seen a 5th gen Camaro priced that cheap yet. Cheapest I've seen has been $18k-$19k for a car with 75000 or more miles. Now if there is truly nothing wrong with the car at all for that price, I'm not sure why you would want to waste the time in flipping the car. Unless you are looking for a car with a sunroof especially if nice LT's are difficult to find in your area. If I could get that great of a deal I'd keep the LS & add what I want to it since an LT is only an equal to the LS power wise except for smaller gadget items that can be added any day of the week, and probably makes a better car to mod since you're not paying extra for things you're going to remove anyway.
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Old 07-27-2013, 02:10 PM   #8
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I sold my 2011 LS with 12K on it for 16,500, with 4 pack gauges and Hurst shifter, in absolutely flawless showroom condition, a year ago. I had it on the market (Camaro 5 classifieds, and on CL Phoenix) for over a month, and all I got was tire kickers and dreamers. I am buying another '13 LS right now, new, and am going to get it for under 20K. If you are willing to deal with a bunch of people wasting your time to make a grand or two, maybe it would be worth it. Anything above 18K is a dream, IMO, I started my ad at 17,900 and didn't have any nibbles at all.

Buy it, change the wheels, and have the seats redone in leather, and keep it.
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Old 07-27-2013, 11:21 PM   #9
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Quote:
Originally Posted by kansjfr View Post
In order to do it LEGALLY, you have to get the title signed over to you, get a new title in your name, pay all of the sales taxes, tags, transfer fees, property taxes (if applicable), wait for the state to issue you a new title, get it insured in your name (the state won't issue you a title without proof of insurance) then sell it and transfer the title to your buyer. The transaction fees sometimes eat up whatever profit you might make. Some people who do this regularly just have the seller sign the title and leave the buyer's name blank, and put the new buyer's name in when they sell it. That's called an open title, the practice is called jumping title (because the seller has jumped the interim buyer, and it's illegal in virtually all states, but if no one finds out, what the heck? Big problems arise when there's a later dispute between the new buyer and interim buyer, and it comes to light that the interim buyer didn't follow the law. I'm sure this is probably more than you want to know, but I'm a lawyer and can't help myself. Oh, yeah, I also have a dealer's license.
Okay thank you. I would rather not deal with the drama. What if the seller (to me) claims a lost title.

Quote:
Originally Posted by davidcroft View Post
2010s are NOT 1LEs. LS is not a 1LE

wrong forum.
Sorry. Please excuse my noobiness. If mods see this you can move the thread to where it properly belongs?

Quote:
Originally Posted by BluePhoenix View Post
$15,500 sounds awful cheap for a 2010 w/ only 9k miles. I have never seen a 5th gen Camaro priced that cheap yet. Cheapest I've seen has been $18k-$19k for a car with 75000 or more miles. Now if there is truly nothing wrong with the car at all for that price, I'm not sure why you would want to waste the time in flipping the car. Unless you are looking for a car with a sunroof especially if nice LT's are difficult to find in your area. If I could get that great of a deal I'd keep the LS & add what I want to it since an LT is only an equal to the LS power wise except for smaller gadget items that can be added any day of the week, and probably makes a better car to mod since you're not paying extra for things you're going to remove anyway.
All lts are hard to find in my area! actually anywhere in the south. Well kind of. I really want an lt with the 19" rims, manual. Because, sometimes I go to two tracks that are semily close and 118 mph will not cut it for me and I would rather keep my warranty.

Quote:
Originally Posted by Bowtiepower00 View Post
I sold my 2011 LS with 12K on it for 16,500, with 4 pack gauges and Hurst shifter, in absolutely flawless showroom condition, a year ago. I had it on the market (Camaro 5 classifieds, and on CL Phoenix) for over a month, and all I got was tire kickers and dreamers. I am buying another '13 LS right now, new, and am going to get it for under 20K. If you are willing to deal with a bunch of people wasting your time to make a grand or two, maybe it would be worth it. Anything above 18K is a dream, IMO, I started my ad at 17,900 and didn't have any nibbles at all.

Buy it, change the wheels, and have the seats redone in leather, and keep it.
I was actually wrong I would be buying it $120 more than rough trade in and it doesnt seem like there would be much meat left on the bone after taxes etc.
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Old 07-27-2013, 11:55 PM   #10
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If Chevy can ever prove that you tracked your car, kiss your warrantee goodbuy, regardless of year or mileage. If you are going to track your car, an V6 isn't going to cut it. You are going to need 2 cars, one new, and one you can beat the piss out of without worry. If your warrantee matters at all to you, purchase another vehicle to track.
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Old 07-28-2013, 10:11 AM   #11
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Quote:
Originally Posted by Bowtiepower00 View Post
If Chevy can ever prove that you tracked your car, kiss your warrantee goodbuy, regardless of year or mileage. If you are going to track your car, an V6 isn't going to cut it. You are going to need 2 cars, one new, and one you can beat the piss out of without worry. If your warrantee matters at all to you, purchase another vehicle to track.
That doesn't make any sense to me? And good luck to them finding out.
Seems to me like you've never tracked a car.
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Old 07-29-2013, 09:34 PM   #12
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Okay thank you. I would rather not deal with the drama. What if the seller (to me) claims a lost title.
If the seller is selling cheap and claiming a lost title then that might be a red flag. If it is legitimate then they should be able to get the title replaced. If not then you would be better off shopping elsewhere. Had a buddy learn this the hard way many years ago.
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Old 07-29-2013, 09:44 PM   #13
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I'd stay away from it. If you were buying it to keep, it might be a decent deal (unless there is a title problem, in that case run, don't walk away), but if you are thinking of flipping and making a profit, that's way more of a hassle than its worth, and the risk vs. reward balance isn't there, either. If it could bring a lot more than $15.5k that easily, the seller would not be letting it go for that.

That number is probably about what it is worth private party (maybe slightly low if it is in perfect shape). It's 4 years old, and sounds like a completely base model. Don't confuse private party and retail.
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