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Anybody ever bought a Fleet Vehicle from your company and flipped it?
Posted on 1/14/21 at 6:06 pm
Posted on 1/14/21 at 6:06 pm
I thought someone posted a thread a couple years back about this exact thing. They bought their company vehicle every few years and sold it for a $2-3k profit.
Thought it was crazy, but here I am. Have an opportunity to buy my work car with 44k miles for $14.3k. Based off all research, the private party value is $2.8k-$3.5k higher then that.
Anyone have experience doing this or remember that old thread?
Thought it was crazy, but here I am. Have an opportunity to buy my work car with 44k miles for $14.3k. Based off all research, the private party value is $2.8k-$3.5k higher then that.
Anyone have experience doing this or remember that old thread?
This post was edited on 1/14/21 at 6:27 pm
7
Posted on 1/14/21 at 6:41 pm to LSUShock
How much is TT&L, insurance, and how fast can you flip it?
That is how I would approach it.
That is how I would approach it.
Posted on 1/14/21 at 6:50 pm to LSUShock
No but I have to sell fleet vehicles occasionally, and its a pain in the arse. I never have the time to deal with it. This is probably why there are a lot of good deals to be had.
Posted on 1/14/21 at 7:02 pm to LSUShock
Taxes and title alone will cut into your margin won't they? Unless the purchase from your employer is somehow exempt
Posted on 1/14/21 at 7:17 pm to LSUShock
Get a appraisal from CarMax, I sold my truck to them, and got a very good price. People are selling their end of lease cars to CarMax instead of turning them into the dealer. They are paying the residual back to the dealer, and pocketing 2-3 grand. CarMax handles all the paperwork.
Posted on 1/14/21 at 7:17 pm to James11111
quote:
This is probably why there are a lot of good deals to be had.
that’s exactly why
OP buy the vehicle if it’s in good/great shape
Posted on 1/14/21 at 7:38 pm to LSUShock
I do it every couple of years. I make at least a grand or 2 but sometimes it takes a while to sell. If you have an avenue to sell it already lined up, then go for it.
Posted on 1/14/21 at 7:55 pm to LSUShock
I was the poster who brought up that same question months ago and then that guy responded.
I ended up not doing it in my case, only cause I couldn't wait to go through the title process to flip it. I needed to move quicker than what the state could process it. Others did it at my company though and made a few thousand.
I ended up not doing it in my case, only cause I couldn't wait to go through the title process to flip it. I needed to move quicker than what the state could process it. Others did it at my company though and made a few thousand.
Posted on 1/14/21 at 9:01 pm to LSUShock
Givemethevin.com or CarMax, Vroom or Carvana.
I'm not sure if you have to register it in your name before you sell it, just take the signed title from the fleet company and the bill of sale to the buyer. Seems like others would know, givemethevin will buy it immediately, plus a lot of these other online sales websites too.
I'm not sure if you have to register it in your name before you sell it, just take the signed title from the fleet company and the bill of sale to the buyer. Seems like others would know, givemethevin will buy it immediately, plus a lot of these other online sales websites too.
This post was edited on 1/14/21 at 9:03 pm
Posted on 1/14/21 at 9:07 pm to James11111
Does the car have to be registered by the new buyer, or can someone flip it with the signed title from the fleet company and sale documents? When I bought out my lease, I got the signed title from the lessor and registered it at the DMV. Could I have taken the sale documents and sold the car to a third party without registering it in my name for a few days? Thanks.
Posted on 1/14/21 at 9:52 pm to LSUGUMBO
In LA it has to be registered and titled in your name before flipping it, unless you're a licensed dealer.
Posted on 1/14/21 at 10:00 pm to GoIrish02
quote:
Does the car have to be registered by the new buyer, or can someone flip it with the signed title from the fleet company and sale documents? When I bought out my lease, I got the signed title from the lessor and registered it at the DMV. Could I have taken the sale documents and sold the car to a third party without registering it in my name for a few days? Thanks.
I'm not sure if it depends on the state, but here in California If the title is in the Lessors name ( like enterprise ), you need to get the title transferred to your name once the lease is paid off. Here, you can do this online with the DMV. Once its in your name you can sell it by just signing over the lease. New registration is not neccessary.
This post was edited on 1/14/21 at 10:03 pm
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