Let me put a scenario in your mind, you have a car that you love driving. But it’s been a while since you have this car. So, a lot of parts are in bad condition.
You want to drive this car on a regular basis, but at the same time, it’s giving you a lot of trouble.
You know getting rid of this car will be the wise decision, but you are too attached to it and you can get it off of your garage.
You have at least 15 different parts that need to be changed, but it going to be really expensive collecting all those parts. You don’t want to hit your bank balance doing that.
Now what do you do? Do you dump the car and your emotions with it, saving you financially?
Or do you fix the car and take a hit on your financial well-being?
I know, both of these options seem unappealing, that’s why I have a 3rd option for you.
In 1 word, parts car.
You can buy yourself the exact same car that you have, just in bad condition for a much cheaper price, then use all the required components in that car to level up your car and make a profit doing so.
How this process works you may ask? I’m glad because in this article I’m going to teach you.
First, you need to determine whether you want a parts car or not. List all the items you need to repair your daily drive car. Once you have the list go to different websites online and search for their prices.
If you need 1 or 2 items, then buying a parts car won’t be feasible for you. But if you need more items like 10 to 15 items then buying a parts car makes sense.
Also, when you buy the parts individually, it will cost you more with shipping charges. The part’s color might not match, and there are tons of other problems you might face.
But when you’re buying the same model car, you don’t have to worry about that.
All you need to check is if that parts car has all the parts available in good condition or not.
Now you might be wondering, should there be any budget for buying a parts car? If yes, then how do I figure out the budget?
So, now that you have the list of items, you check the prices online. And you want to write the lowest price possible for every item out there. Then you need the summation of all those items. Now that’s the amount you should be aiming for while buying a parts car.
But don’t worry looking at the expense. When you’re done taking all the parts needed you can sell other parts to other people. A lot of people actually make a profit doing this sort of flipping.
Lastly, you can sell the striped car to a scrap yard. People will tow your car and give you money for that.
If you buy your car from an auction, what are the charges you can expect to see in your bill?
- Your bid price
- Broker fee
- Auction fee
- Transportation fee as in delivery charge
One more thing about auction buying is, you won’t get any warranty with the car. So, if there’s any problem with the car you gotta deal with it on your own.
