Worrisome update on my Camaro and Why My Craigslist Biz Failed [Autohacker’s Digest]
Last edit: August 04 2024 • 182 view
Welcome to AutoHackers’ Weekly Digest – August 4th, 2024
Every week, I share insights from running insurance auto auction marketplace CARS4.BID. The goal of this digest is to help you avoid common mistakes when buying at auctions and to assist you in purchasing your dream car at the best possible price!
This week, I traveled to Chicago for the start of my little summer vacation. I love the Windy City, especially the deep-dish pizza—my favorite!
Anyways, I’m off to do some road tripping, but my team is available to answer any of your questions!
Actually, now is a pretty good time to buy, as many people are traveling and cars are selling for great prices!
Update on my Camaro project
So, finally the owner of the body shop is back, so I can update on my new toy!
My main concern for this purchase was whether there were any missing pieces of the interior. It was a theft recovery at the auction, and it was stolen to be parted out. Repairs can get expensive with missing components like the media system, plastic pieces, airbags, speakers, etc. I saw lots of components inside the car and was hoping for the best, but you never know. This uncertainty is why there’s a bigger discount for this theft recovery than usual; I got it at only 39% of its retail value. Usually thefts are at 50-60%. The potential risk factor is about 10-20%. I was willing to take it.
If you want to see what I found out, check my post in Autohacker’s community.
Buybacks. get them quick for great price!
We have few cars for sale as our buybacks
2009 BMW 328i convertible.
Photos and description here: Autohacker’s community
2024 BMW M440i. Convertible.
Amazing car. Great for export. $29,995 obo.
Photos and description here: Autohacker’s community
Sick and tired of finding vehicles at fb marketplace and craigslist?
I can definitely relate to this message…
When I got my car dealer license, I met a guy who was working on my cars to get them into shape from Copart. He was a retired mechanic, and he pitched me a business idea I fell for!
“Andrei, there are so many cool and extremely cheap cars for sale on Craigslist. They have a blown head gasket or something else that is easy for me to fix. Here is a business idea: you buy, I fix, we sell, and share the profit. We’ll make a fortune.”
Well, I liked the idea, and we started crawling Craigslist hourly every day for “great deals.” To make a long story short, we failed to source “cool and extremely cheap cars”. It was a decent hustle, but it was almost impossible to grow it to a decent number of cars per month. Great deals were sold quickly, and we failed to have a consistent supply.
I have a few friends in the car dealer space who are doing OK on Facebook Marketplace, and they have the same issue. Good cars at great prices are gone within a few hours of posting. You need to be on the hunt hourly, rush to the location to buy it out, and sometimes you get scammed with a deposit when the deal is too good and you do not want to lose it.
From my own experience, I found that insurance auto auctions are the ideal place to get cars at great prices consistently and as you see it grew into something bigger than I could expect. If you are thinking of growing a side hustle into something more serious, consistent inventory is more important than scoring unbelievable deals.
Cheapest buy of the week
2012 Dodge Grand Caravan. Sold for $900!
Minor dents and scratches. Run and drive condition. Excellent deal!
My choice of the week
2019 Genesis G70. Sold $9,000!
Theft and minor front-end damage. It was bought for 29% of the retail price of $30,900. Great savings!
$20 deal
2009 MAZDA 5 sold at Copart just for $20!
Minor front damage. Run and drive condition.
Retail price: $4,673!
$50 deal
2003 ACURA RSX sold at Copart for $50.
An “everyday sports car,” as Acura calls it.
Hawaii location. Minor side damage. But you cannot go wrong with $50 for a car!
$100 deal
2014 DODGE AVENGER sold at Copart for $100.
Impossible, right?! Well, great deal happens daily!
Thank you for reading my digest, and have a great day!
Andrew AutoHacker
P.S. If you enjoyed my digest, you might also like my Facebook community of Autohackers. I share my knowledge there daily. My primary goal is to assist you in finding your dream car at a 50% discount. Join the community and benefit from the valuable information and insights I provide!
