We live in a brave new world of cars and trucks, as the pandemic brought about wave after wave of changes to the world of automotive retailing. While you may not enjoy the world of retail, that shouldn't stop you from considering the opportunities available...if you can afford to buy a new car and sell it a few months later.
So let's pretend you can do just that, you can special order one vehicle right now, wait for it to arrive, drive it for a few months and less than 10,000 miles, and then sell it to the likes of Carvana.
Take, for example, this 2021 TRD Sport Tacoma Double Cab with 4,177 miles, with an asking price of $43,990.
I just built its 2022 clone on Toyota's website and it stickers for $39,965.
In this case, you can enjoy a new Tacoma for a little while and easily make a couple grand selling it to Carvana (or any other retailer, but odds are Carvana is throwing the most money out there.)
So if you could, what would you buy? I am thinking a Ford Raptor might be the easiest way to make the most money, and you can keep it for a long time if you really want it.
I could flip my truck today. I paid $39,000 for my GMC and have seen offers for $42,000 to $45,000 and it is a 2017.
My wife’s GMC SUV last year out the door was $47,000 with discounts. The same dealer today is asking $3,000 over MSRP and $57,000 for the same model.
Now if I were to flip for profit the C8 is the high demand car today and people are over paying much.
I am thankful we are not in need of a car now. I would refuse to pay these prices.
I bought a 2019 Mustang Bullitt new in the Fall of 2019. I love it!!! Maybe I would get a Mach e. !!! I bought a 2021 Bronco Sport in Dec, 202. I love it. !! Sell it for....???? Hmmmmm.......maybe not..lol.....
I would like to participate in this, but the premise its based on-the ridiculous over the top market evaluation of new cars due to our current economic/supply issue-just saddens me. Plus, don't forget to factor in the adjusted market value on any new/used car you buy...whatever dealers are gouging out of us these days. Is it 5 grand? 10 grand? more?
IMO, buying a vehicle just so you can flip it (and screw someone else in the process) is not good karma. You’re no better than the dealers that everyone is complaining about. Just because you can, doesn’t mean you should. There’s a special place in hell for folks like that.
I think you're being a tad harsh. "The Market" has no feelings, and no remorse when speculators lose. Taking advantage of rising values is simply good business, and it is a tricky game. When this market levels out (or this bubble bursts) there will be plenty of sellers stuck with inventory they won't be able to profit from. That special place in hell is for sellers who misrepresent their item(s).
I have actually done this already. I bought my new 2021 Chevrolet Trailblazer RS for $28,000 and just sold it for $34,000 with 11k miles on it. Now I'm taking that $6,000 profit and putting it towards my new 2023 Chevrolet Corvette.
I took delivery of my '22 C8 in December. Almost sorry for all the hype and over-charging. I bought my C8 because I wanted one. I have resisted selling it for a profit but, it has been very tempting. I've now got almost 1,700 miles on it and can probably forget about it. Looks as if I'm keeping it! Haha
Why would I do that. Every time I think of a the vehicle that may have a higher value in the future you people screw it up for me. I'm going to keep my thoughts to myself. After all these years of insuring my vehicles with Haggerty you think I could get a shirt. This company went public I'm the public send me a shirt McKeel. Traverse City area Man insuring many vehicles with Haggerty.
If a new one stickers for less, why are people so willing to pay more for a used one? Crazy times we have. When will the bubble burst and leave the speculators with a used vehicle they don't really want?
Okay, if I was going to do this, I'd get a Z06. Whatever happens with the market, I might want to keep it.
This has happened so many times in my life, but not with newer cars. For instance I was looking hard to find enough money to buy a Ferrari 308 Dino,,,when Enzo died. Price went up $10k over night. Anyway the cars that people want and can't get, like Toyota and Subaru's are usually a good bet if you can find them at great prices. I would look for special models that are last model years, like a Mustang Boss 302 (it's a bit older) or a Kia Stinger Gt.
I bought one also, a 2020 GT350 Heritage edition. Only reason is the last year and the Ser. Is just opposite of my 65 Shelby. Come to find out they only made 300 some odd of them. Value is up already! And I love the Car.