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Sam I appreciate your input. The car has been rebuilt. It doesn't need 20k invested, the only thing potentially wrong it the window regulator / motor is going out.
What are you basing that on?
Have you inspected the car personally? Have you sent the car for a reliable and independent PPI? Are you taking the word of the seller (because seller don't lie, right)?!
Again, do the legwork first. THEN ask for advice. For starters, negotiate with the seller first and see where you stand. Then contact your bank and see if you can get financed. Then contact your insurance company to see if you can get insured. Then find a place where you can get the car inspected (PPI). Get the PPI and see the REAL condition of the car and how much it might cost to fix it to near mint condition (a PPI at a Lamborghini dealership would be best for this). To sum it up: find out if you can afford it, can insure it, can fix it. AFTER all this, you will know what it will cost and you will be in a better position to know whether or not you can recoup this on a sale. If you are still unsure or want confirmation, then you can ask here. There are many knowledgeable people who can assist you then but right now it is just meaningless speculation.
 

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Discussion Starter #22
Absolutely, completely understand, you're right most people talk but it's a matter of going through with it. I'm contacting a few banks today. Anyone have any they recommend, especially in regards to rebuilt titles. I'd like a 72-84 month car payment. I absolutely will do a PPI at Lamborghini of Houston. I received an insurance quote of 600 a month. Up from 150 a month on my sl550. More than I would like but still affordable. The gallardo would only be around 300. Ideally I want a Lamborghini between 60-85k that will hold its value and or increase slightly when I sell it. I just want to look and get the "right" one.
 

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600 a month for insurance is affordable ... yet you want to finance a salvage exotic for 7 years?

AND you are choosing a salvage for its resale value.

This does not add up AT ALL.
 

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Discussion Starter #29
I'm in agreeance with you in the sense I too believe it's more than just a window regulator or motor going out. I'm sure there's more.

I did a regular 2004 murcielago non salvage title. Do you recommend anyone besides State Farm? Who does everyone else use? Does anyone know if salvage rebuilt there's better companies to use?

Nick
 

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Absolutely, completely understand, you're right most people talk but it's a matter of going through with it. I'm contacting a few banks today. Anyone have any they recommend, especially in regards to rebuilt titles. I'd like a 72-84 month car payment. I absolutely will do a PPI at Lamborghini of Houston. I received an insurance quote of 600 a month. Up from 150 a month on my sl550. More than I would like but still affordable. The gallardo would only be around 300. Ideally I want a Lamborghini between 60-85k that will hold its value and or increase slightly when I sell it. I just want to look and get the "right" one.
Feel the fear, I that yoooo?!
 

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Want to bet $1 on that?

Without the VIN i.e. disclosing the salvage/rebuild, the quote is pretty much invalid. And just for kicks, why don't you get the VIN and share it here.

-mick
You don't need the vin, it's just a coup,e window regulators bro. Everything else is pristine. That's what the craigslist seller said!!!
 

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I don't think you can finance a salvaged title, know why? Because the bank doesn't have an asset as collateral, they have a hunk of metal that should be a car but was fixed with shoddy work.
600 a month for insurance plus finance fees, don't forget a loan like that will certainly have an early payoff fee. So you plan to finance a car for a couple of months and then flip it... Let's run the numbers.
Since your mostly looking at a salvage title plan on 12 months to sell, no seriously it will take 12 months unless you unload it for the price you paid. During those 12 months you will rack up $7200 in insurance and around $6,000 in finance fees not to mention any repairs needed which I would guess average around $2,000 per year. Yet your car is salves so something was missed.
So a year later you will have spent 15k on a car that you want to make 15k on. Now you have risk so you are getting zero return on your risk...
As you said, you are not as successful as so,e of us so take our advice and forget this idea for 5 years until you are successfully flipping 50k and over cars.
Baby steps
 

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exotic car hacks...isn't that the crap peddled by the secret entourage guy? Here's a tip: those 'get rich quick' books/strategies etc only make one party rich and it's not the guy who buys the 'system.'
 

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I have done my fair share of flipping cars and still have a dealers license. I was fortunate enough to get it through family who own dealerships.

Its not as easy as you think. It takes lot of time, patience, and dedication. I did not really read through this thread fully but im sure people have advised that.

Especially on a higher end car, most people that are looking for that car usually have money and dont wanna buy something salvaged. The customer that will come in for a salvage car is usually on a budget.

Start small, the cars that are 5k and under you will make more than the high end market. I have a family member who has 200 cars on his lot and they are mostly 15k and under yet sells more of this 5k and under cars more.

and lastly, craiglist is not the best place to advertise. Gotta hit the big boy ad platforms like cars.com, autotrader, cargurus and etc. which cost an arm and leg
 

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i say give it a shot you are young and can afford to make some mistakes. just dont over extend yourself.i own 2 used car lots that i self finance the cars.the average cost of the car is $6500.yhis is a good business.it doesn't sound like you have the capital to self finance the cars. the reason i started doing the self finance is i couldn't compete on the $15000 cars with the established dealers. if you could find someone with capital to back you it might work

GOOD LUCK!!!
 

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I think buying and flipping 5k cars should be your bread and butter.
If you can swing a loan for working capitol and buy 5-10 cars and flip those . Buy flip reapeat. You will get to a point where you can afford to get into the higher end vehicles.
Remember you make your money when you buy the car. Buy the car 'right' and its money in the bank.
Dealers licenses arent as hard to get as people think. In California you need a bond, insurance, a parking spot and a sign. Some properties zoned for autosales sell office space and a parking spot for small dealers like yourself.
Flipping cars on craigslist is illegal in ca after your 5th car in a year.
Pay your taxes.
Buy a gallardo at a good peice enjoy it then have a chance to get your money back or possible a small profit.
Stay away from salvage or rebuilt titles. In my experience they are a headace
 
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