Hello all.
I recently got connected with a guy who has a late 99 CCLB 700r4 4x4 with 500,xxx miles.
truck is down with a blown hpop. He wants to self for $2500. Body is in decent shape no rust, but needs a couple dents repaired and maybe a panel or 2 painted.
my though is, even if i sent it out to get rebuilt, I could drop 10-15k into the truck and sell for 20k worst case scenario. Best case, I replace the hpop, paint it up and sell for 12k and come up on some cash.
I’m going to look over the truck tomorrow morning to see if I want to pick it up.

any thoughts?

 

I'm risk adverse, but being retired 13 years, makes me that way.

 

Might as well if you can make some money off it.

 

If I had the space to do it I would be all over that type of flipping vehicles. I’ve done a couple of jetskis and dirt bikes. My matrix for profit is 100% or better after hours of labour and parts are calculated.

Take your FORScan and see what codes pop.

Crank it over and see if it has any low compression skips.

 

You have to consider if you are a 90%'r or a 100%'r too. What I mean by that is if you complete a project to 90% and move on to the next thing or if you complete a project to 100% in order to sell or reuse it.

 

The truck with that mileage as described will not bring $20k.

 

It’s like a $10k truck at best. Probably more like 7-8k

 

This is a great point. Typically, if this makes sense, if its for my own personal use, nothing is ever finished. If its for business/ work, I'm pretty diligent with follow through.
This would be a little side hustle for me, Id like to believe that I would see it through to the bitter end.

I went to look at the truck this morning. Here is what I found:
- Truck is an EARLY 1999, not 1999.5 as I was told by the kid who owns it.
- Truck will crank, no start. Does not sound like any discernible misses
- Codes: P1280, P1690, P0603, P0470
- High pressure oil hose has leak in middle of hose seeping out into valley when cranking
- No oil/ fuel in coolant
- no coolant or oil in fuel bowl
- turbo wheel has no play nice and smooth
- Needs headliner, re-upholstry of drivers seat, various small interior trim items
Has 4" MBRP cat back exhaust

Pricing from riffraff and rockauto, I think i can get this thing in driving shape for around $800, get the interior parts cleaned up for around $500
fluids/ filters ~$500

Cost of vehicle: $2000 (talked him down)
Registration/taxes: $850
Total to get into decent shape: $1,800 + or - $200
Total In: $4,650- $4,850

Sell: $9,000- $13,000

Potential profit: ~4,000 to $7,000

What do yall think?


Thanks- HP

 

OK update:

ran the carfax on it and discovered that its currently a salvage title. It's been salvaged/ restored 3 times before the recent purchase by the current owner from a salvage yard auction.
It owes roughly $2400 in back registration according to the running the VIN thru the DMV registration calculator.
The current owner is has the transfer paperwork from the auction yard, but has not submitted it. (probably because of the cost.)

and with that, I offered $500 at the most and bowed out.

Thank you all for your responses, if he calls back accepting the $500, ill update this thread. Maybe make a you tube channel out of the process with my son. (he's 13)

 

Registration being owed? Is this in CA?

 

Colorado is like this as well...taxes are supposed to be paid ea yr, if not it accumulates. they have to have their money.

@ the OP: the salvage title explains a lot, basically worthless for flipping. If you wanted, you could still build the truck with/ for you son. I think you made a good move. If I was looking for a good truck and knew I'd keep it; I'd make an offer.

 

yeah the only saving grace here is CCLB i would bow out I think unless you just want a project truck to play with (Absolutely nothing wrong with that, and claiming it as a father son project to keep the wife at bay is ingenious... Kudos my good man! me thinketh thous does know the female brain casing well.

 

Oklahoma demands yearly registration fees, and then if not paid, you start paying fines that accumulate per month.

when I bought my Excursion in Montana, I stopped in Utah and stayed with my sister for 3 months, that cost me $350 in late Registration fines.

I explained why I was late, I was not back home yet.... no matter, it starts from the day you sign the title over from the Previous Owners... guess I should have called them on the phone??

and: they demand that "they" visually inspect the VIN to re-title it in Oklahoma.
how will they do that, if you are not home yet???

 

So in CA, the way i understand it, the registration continues to accumulate each year with late fees and penalties accruing with the cost. It is proper etiquette for the seller to have everything up top date and ready to sell. (These days it seems, rarely does anyone over here have their paperwork up to date) So if the vehicle hasn't been registered since 2017 (in this case) thats 5 years of registration AND penalties. in this case, the truck would need CHP inspection, weight inspection, smog, and DMV safety inspections since it was last registered as a total loss.

BUT, if the guy wants to let it go for $500. I think a father son project would be justifiable...

 

Yes it is. Chancellor Newsom wants his fair share