There are loads of cheap old cars for sale out there that people have just put aside for a reason or another and a lot of those cars are still running and all they need is a good wax and interior clean. If you haven’t got much to invest then start off with the cheapest old car that is still running. Do your homework, look in magazines, newspapers, car auctions and make sure that there are not too many cheap old cars for sale exactly as the one you are planning to get your hands on! If there to many of them, you will have a tougher time to sell for a profit. As well as in the reverse, don’t go straight and get that “rare” car that nobody has ever heard of!
It could be a cheap rare find, but mind you that you are just starting and remember as well that when someone is out in the market for a classic car it’s because they are looking for a vehicle that reminds them of childhood and that the era of the vehicle that their father had when the person was just a kid! The average classic buyer doesn’t want a car that nobody has ever heard!
As an example, if the car you got is 30 years old or more, then add 10 to 15 years and that’s how old your most potential buyers will be of age! You see, these cheap old cars for sale is not only about making a profit, it’s about selling a memory and a dream!
Let me give you my personal example of my Volvo 444 and it goes with what I’ve just mentioned when it comes to the age of the buyer.
When I got it I had the intention of turning it into drag racer! I’m glad I didn’t! It was all dismantled in 10,000 pieces when I bought it and being very proud of my first cheap old car, I was telling friends about my acquisition and soon enough word got around and a friend of a friend told me weeks later he had one just like it but in running condition and wanted to sell! I said great, let’s make a deal! Soon enough I had two the same just different in colors!
It gave me an excellent opportunity to have an assembled car right next to the one I was restoring for comparison which worked well on the months to follow! I took loads a pictures inside and out of the running 1954 Volvo 444 because as you can imagine having two cars and only one that run and still having to spend a bit here and a bit there in getting small bits and pieces for the puzzle Volvo, I was starting to run low on money and selling the working car had to be an option!
I gave it one deep cleaning inside and in the engine compartment and a good wax job. One day I took it when I went shopping, as I got back to the parking lot there was business card stuck on the wiper, the note said: “Would you be interested in selling your nice car? Please call”
Wow I thought, could it be this easy? And had not thought of a selling price yet! On the way home I passed by a magazine shop and got a few recent classic car magazines for night reading!
The next day I called the number and ended up meeting the person mid afternoon! The person had just turned 65 and told me that as a kid his father had one just like it back in Europe! 45 minutes later after we were shaking hands finalizing the deal! I made a profit of almost 5,000.00!