How To Flip A Car Fortnite? All Answers

If you’ve been researching what car to buy next, you’ve probably read numerous reviews related to how much pitch or roll a car exhibits when cornering. Reviewers tend to prefer less, but why? What is a lean body and should you avoid a car that leans a lot?

What is body roll?

Body roll (or lean) occurs when you are turning into a turn. As your car starts to spin, its weight will be thrown to the outside of the corner, causing your car to roll in that direction. Simply put, if you turn left, you’ll be thrown to the right, and if you turn right, you’ll be thrown to the left.

Your wheels are in constant contact with the ground, so always stay on the same level, but the body of your car (and therefore the cabin you sit in) sits on springs that are (indirectly) attached to your wheels – this allows the body of the car to tilt independently of the wheels.

Why is this happening?

Centrifugal force keeps this stunt car stuck on the loop-de-loop

Thanks to something called centrifugal force – the same thing that dries your clothes in a tumble dryer. Imagine swinging a weight attached to a chain around your head – the faster you swing the weight, the more it pulls on the chain as centrifugal forces build.

The same thing happens when you turn your car – it becomes the weight and the curve becomes the arc that the weight takes around your head. As your cornering speed increases, the force pushing you to the outside of the corner increases. These forces are absorbed by your car’s suspension, causing the body to lean to the outside of the turn.

Is it bad?

Your attitude towards body contact depends on whether you prefer comfort or control

Simply put, yes and no. Reviewers tend to criticize cars that lean too much because excessive roll dulls steering inputs. A car that doesn’t lean much stays more level in corners and there is less lag between turning the steering wheel and the car reacting.

While a more leaning car has a longer lag between turning the steering wheel and its response when the suspension absorbs centrifugal forces, it can sometimes be more comfortable. Lean comes from long suspension travel (on SUVs or 4x4s) or a soft tuned setup, but this usually makes the car absorb bumps better and be more comfortable.

What does that mean for me?

Volvos tend to be softer and slimmer, BMWs tend to be tighter and less lean

Essentially, you have to ask yourself how you want to feel while driving. A car that rolls a little more is usually more comfortable, making it suitable for drivers who like to be spoiled by the bumps in the road. A car that rolls less is likely to be less comfortable, but gives the driver a better sense of control thanks to its more reliable responses.

As a very rough guide, BMWs tend to offer a sportier driving experience, so don’t lean too much into corners. However, brands like Volvo are keen on comfort, so they allow for a little more body roll in favor of a softer ride.

Car flipping is the process of buying cars only to sell them at a higher price. Sometimes it’s a hobby. In other cases, it’s a big bugbear for automakers…

What is car flipping?

It’s like house flipping, but with cars. Not helpful? Well, when someone “flips” something, they’re buying it specifically with the intention of reselling it for a higher price. So, car flipping is simply about buying a car with the express intention of reselling it (usually quickly) for a profit. This can be a hobby for amateurs, a means to tinker with cars and earn a bit of extra money. Other pinball machines are a bit more professional, looking for the most desirable cars and placing them in the most lucrative markets. Money is usually made by restoring or modifying used cars. Sometimes it might be the search for an exclusive or historical model for a particularly enthusiastic customer; Either way, the principle is the same.

But there’s a much more controversial side to car mirroring. No one really cares if a college student fixes a Ford Mondeo and makes a few hundred dollars in profit. However, when the flipped car is an exclusive supercar, eyebrows are raised… Not to mention lamentations.

flip supercar

You’ll probably agree that the Ford GT supercar is pretty impressive. Desirable even. It’s not just because it’s a high-performance supercar with sleek design and incredible performance. That’s because it was limited to 1,350 handpicked individuals selected by Ford. They were ultimately chosen because they were believed to have the clout needed to market the GT and the Ford brand; Sharpen profile and contribute to an elite exclusivity. The problem is that some of these handpicked customers weren’t really interested in the car. Instead, they were interested in making a quick profit.

It’s a matter of supply and demand. A lot of people wanted a Ford GT and didn’t make it onto the exclusivity list. Then what can they do to get one? Pay someone who made the list an amazing amount of money, that’s what. Despite an enormous amount of anti-flipping clauses, people tried to sell their Ford GTs within weeks of receiving them. While Ford charged $450,000 for the car, some recipients attempted to sell their car for as much as $1.5 million. One of those people was former American wrestler John Cena, who was forced to settle with the company. His glowing, four-minute YouTube review clearly wasn’t enough to mollify the automaker.

is it ethical

Car companies use their supercars as marketing tools. By selling them to small, handpicked influencers, they hope to encourage a sense of exclusivity and brand power. When an influencer sells their car in a short period of time, it causes some problems. First, this influencer does nothing to promote the car or its brand; In fact, they almost imply they’re not interested. Second, it frustrates the car company because their car was sold for a far greater profit the second time around. As a result, manufacturers got used to flipping cars. Contracts usually stipulate that exclusive models may not be sold for a number of years. A timeframe of two years was set for the Ford GT. Other manufacturers, like Aston Martin, have said they will never offer “specials” to customers who turn their cars around again; including the upcoming Valkyrie model.

But there is another problem here. Flipping supercars artificially and sometimes exuberantly increases their prices. $450,000 isn’t exactly accessible by anyone’s standards. However, it is much more accessible than $1.5 million. By violating flipping clauses, very wealthy people are making these valuable and special engines unattainable for more and more people. For car enthusiasts, unscrupulous opportunists ruin the appeal and enjoyment of cars by turning them into raw assets. A Ford GT or Aston Martin Valkyrie is no longer a feat of engineering and fun to drive, but instead becomes something resembling a gold bar in a vault.

The real losers

It can be difficult to sympathize with automakers who are victims of rollovers. After all, they only care about some kind of sophisticated marketing. There’s a reason John Cena got a Ford GT and Carlisle’s Gavin didn’t; and not just because John Cena can afford one and Gavin can’t. Mr. Cena has cultural capital, he can sell the Ford brand just by sitting in one of their cars. Instead, the real losers are the car enthusiasts. These are the people who see and love cars and what cars represent. These are the people who are fixated on technical specs and long for the open road. For these people, cars belong on the road network and not in a high-security box where it can add value.

Low level car mirroring is a fun hobby and a way for enthusiasts to make some money. However, at the supercar level, it makes inaccessible cars even more inaccessible. More generally, it makes the car anything but a car; it goes from a driving experience to a simple asset designed to make the rich richer. Contract clauses can discourage the practice, but perhaps manufacturers should consider the ethics of exclusion directly. It’s one thing to approach a celebrity, but another to stop someone from buying a car just because they don’t think they’re “cool” enough.

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I’ve owned 4 cars in my life (an ’86 Celica, a ’91 Toyota Pickup, an ’01 Ford Escape, and an ’06 Escape in case you’re curious) so the idea of ​​buying and selling cars is a little intimidating since I do it so seldom

But there’s a unique side hustle to flipping used cars. It’s similar to other buy low, sell high business models we’ve talked about, but the potential profit per flip is pretty high.

Jeremy Fisher is a car flip pro and runs 3HourFlip.com to help others get started in the business. He’s put together this VERY in-depth guide to getting your aisles on the bucks that might be lurking in your city’s driveways.

Enter Jeremy…

************

Years ago, when I started getting interested in buying and selling cars on the side, I didn’t know where to start. All I knew was that I wanted these three things:

To build an additional income stream. Investing as little time as possible – ideally just a few hours a week

When I first started flipping cars I knew very little about buying and selling cars and made a lot of mistakes that cost a lot of time and money. I’ve learned a lot along the way and in this post I’d like to share some of those insights with you.

Nick’s Notes: This post is quite long and detailed. If you would like to download a free PDF version to read through later, click here or on the image below.

Block a few hours

Buying and selling cars can be an excellent source of income that doesn’t require a large investment of time on your part.

I usually try to spend only 3 hours on the whole process of finding and buying, preparing to sell and selling, which is why I named my blog 3HourFlip.com. Not all deals work like this – in fact most don’t – but 3 hours is a great benchmark to make sure you’re maximizing your time flipping.

The trick is learning how to get business to you so you can spend less time searching and more time selling.

Before we begin, a few warnings

If you’re like me, you’re not going to get everything right with your first few auto flips, and even experienced auto flippers still make bad purchases every now and then. It happens. Cars have many moving parts and problems can arise even if you have done all your due diligence beforehand.

Don’t let that discourage you – flipping cars doesn’t have to be that complicated. In this article you will learn how to easily flip cars.

Many states in the US have regulations on how many cars a person can own in a year. For example, if your goal is to flip 10 cars in a year, but your state limits you to owning 5, you might want to consider putting a few cars in your friend’s or spouse’s name. Just make sure you are familiar with your country and state’s regulations on buying and selling cars BEFORE you start car mirroring.

Nick’s Notes: In California, for example, individuals can only sell 5 cars a year. In addition, you are considered a “merchant” and that requires special licensing.

Put some cash aside

Before making your first purchase, you need to decide how much money you want to spend to start your flipping business. I would not recommend going to a bank to borrow money to buy and sell cars. Stick with money you already have.

In my opinion, the smaller you start, the better; 500-2000€ should be enough. Not only does starting small lower your risk, but it also takes some of the pressure off of your first flip, which usually leads to better decision-making and less anxiety.

Nick’s Notes: This deal is no different than the other “buy low, sell high” deals we’ve covered on Side Hustle Nation, but the initial buy-in will usually be higher than going into the clearance section of Walmart goes on an FBA sourcing trip. As always, don’t make a bet you can’t afford to lose.

Become an expert on used car prices

Buying a car is much easier when you can quickly compare good and bad deals. Start studying car prices online and with price guides to get a feel for typical car prices in your area.

Focus on becoming an expert in the $500-$4500 vehicle price range. Become a frequent user of Kelly Blue Book, NADA, Edmunds and Craigslist.

I also recommend that you download the free KBB app onto your smartphone so that you can always call up the vehicle values ​​quickly and easily when you are out and about.

What most people don’t know about used car value

The truth is that there is no real way to get an accurate value for a specific vehicle.

Each car has many different qualities and features than the next. Price guides are only used to determine the approximate value of a car. The true value of a vehicle is only determined by what someone else is willing to pay for it.

What you hope to do when you study price guides is to determine the most likely price the car would sell for, and that’s rarely exactly the same number you see in a price guide.

Use the guide your buyers use

I’ve found that most potential buyers use the Kelly Blue Book to determine a vehicle’s value, which is why KBB is my primary price guide. If your buyer uses KBB as a reference, it’s very helpful as a seller to do the same so you’re both on the same page.

Find and buy cars to flip

I mentioned earlier that I usually try to spend just an hour finding and buying cars that I flip.

Finding and buying a great deal in an hour might seem very difficult – and it is. The trick is to learn how to attract deals that will help you spend less time searching and more time buying.

In this section you will learn how to do this.

special vehicles

If you’re planning on quickly flipping your first car, you should probably stay away from rare, uncommon, exotic, or specialty vehicles like sedans, buses, sports cars, and vintage cars. Specialty vehicles have a lower number of potential buyers, which means the sale can take much longer.

That being said, if you don’t mind waiting a little longer for the sale, you might find that specialty vehicles can be very profitable, often making more profit per car than ordinary vehicles. Some people only rebuild or restore a few classic or exotic cars a year but make up to $30,000 per vehicle just from profits. It doesn’t take long to make a big income from numbers like this.

The Sweet Spot: Cheaper ordinary cars

With rare exceptions, I usually target vehicles in the $500-$4500 price range.

Here are a few reasons why I love flipping cars in this area:

It’s much easier to attract cash buyers in a lower price range. Since most people don’t have more than $4000 in cash to spend on a vehicle, they are more likely to need financing, which takes more time and requires additional steps for you, the seller.

in a lower price range. Since most people don’t have more than $4000 in cash to spend on a vehicle, they are more likely to need financing, which takes more time and requires additional steps for you, the seller. Buyers of a cheaper vehicle typically don’t spend as much time worrying about minor imperfections, which often means cheaper cars are easier to sell. Conversely, if a person decides to spend more than $30,000 on a vehicle, they are much more likely to expect the vehicle to be in immaculate condition.

Conversely, if a person decides to spend more than $30,000 on a vehicle, they are much more likely to expect the vehicle to be in immaculate condition. Buying in this price range limits the risk you put in any vehicle. If you buy a $500 vehicle with a bad engine, you can scrap the car, cut your losses and move on. However, if you spend $5000 on a vehicle with a bad engine, you will be tempted to put in another $2000 to fix the engine and recoup your $5000 investment.

that you put in each vehicle. If you buy a $500 vehicle with a bad engine, you can scrap the car, cut your losses and move on. However, if you spend $5000 on a vehicle with a bad engine, you will be tempted to put in another $2000 to fix the engine and recoup your $5000 investment. Your profit potential may be higher. If you have a total investment capital of $6000 and use it all on one vehicle, your potential profit is limited to that one item. If you split the investment into 3 vehicles at $2000 each, your potential profit has tripled.

3 ways to get Craigslist listings to you

1. Create a “Don’t trade in your car” search ad.

A good way to get offers is by placing search ads. An example of a searched ad I used is below.

ADVERTISEMENT: Don’t trade your car, sell me for cash! AD DESCRIPTION: If you’re thinking of trading in your car, don’t do it! Car dealers will offer you a trade-in value that is often well below actual value. Sell ​​your car to me instead. I will pay trade-in value for any vehicle under $4,000 with 150,000 miles or less. Email me the make, mileage and condition of your vehicle and I’ll send you a cash offer that beats a dealer’s trade-in price. This is not a scam; i buy cars

After receiving emails in response to the ad, copy a link to the vehicle’s KBB trade-in value and send it to the seller with an offer above the trade-in price.

Here’s an actual email I used (don’t forget to include the KBB link at the bottom of the email):

“Thank you for responding to my ad. I have given the KBB trade-in value for your car below. Click the link and check it out. Based on this, your trade-in value is $3000. I’m offering you $3200 cash and I can buy it today!”

Sellers are happy to get more than their dealer would have paid, and I’m happy to buy a car for less than I could sell it. You will be surprised how many vehicles you can buy that would have been traded in at a dealer you now own below KBB private sale value.

2. Set up instant notifications

Download the CPro app to your smartphone and set up alerts when used cars in your price range are listed on Craigslist. This third party tool is MUCH better than the official Craigslist app.

Note: Unfortunately, the CPro app seems to be discontinued. As an alternative, readers recommend the CPlus app for iOS and Android.

For example, you can set the app to send you an instant alert when a car is listed under $3000, for sale by the owner (not the dealer), and the description says “needs to sell”.

Nick’s Notes: This is really cool and will be fun to play around with different filters. I also recently read some Craigslist search recommendations that contain words like “moving,” “divorce,” or “end of lease,” which could mean someone is in a hurry to sell. You can also use this for specific searches on non-auto Craigslist flipping companies.

I’ve been looking for a new used car every now and then and will definitely use this feature if/when I’m serious.

Instant notifications will keep you getting deals and help you get deals before other Craigslist car buyers.

3. Hire spotters

Almost everyone knows someone who is toying with the idea of ​​buying or selling a car. Find your sphere of influence to help you in this business. Offer to pay anyone who will help you find a car to buy in order to sell it for a profit. Working with personal recommendations can be one of the best ways to find leads for vehicles before someone else does.

Print and distribute business cards. The front of mine says, “I buy cars.” The back says, “I’ll pay $50 for your help!” and lists my phone number.

This is one of the ways you can start getting deals coming to you, and the more eyeballs working for you the better.

Inspection of the car for purchase

Once you’ve found a vehicle you’re interested in and the seller has agreed to meet with you, your attention to detail becomes extremely important.

You should look at the car inside and out and look for signs that the car is having problems. There is no way to completely rule out the possibility of buying cars with problems, but you can certainly reduce your risk by spending a lot of time checking before you buy.

If you don’t know anything about cars

If you don’t know anything about vehicles, don’t worry, there’s still hope for you. The more you know about cars the better off you’ll be, but you don’t have to be an ASE certified technician to make good car purchases.

If you know absolutely nothing about cars, just plan on spending a little extra money to have the car checked by a mechanic before you buy it, and know that you might lose a few deals because of this extra step.

Do your due diligence

If you feel safe, great! Just don’t let the lure of a good deal fool you into skipping proper due diligence.

Want to make sure the car isn’t stolen? Check the VIN with the National Insurance Crime Bureau.

Want to make sure the car has never been part of a recall? Check the VIN on SaferCar.gov.

Don’t just assume the seller’s words are fact. Do your own research.

I’m not advocating trusting people less. Although you may come across someone trying to rip you off, I’ve found that most people just want to sell their car and have no malicious intentions.

Major problems usually don’t arise because the seller lies to you about car problems. In my experience, most problems arise because the seller just didn’t know everything.

Although you should make sure you ask the seller as many questions as possible, ultimately it is your job to do all the research and ensure you are buying a good car. After all, when you’re selling a bad car, your reputation is at stake, not that of the person you bought it from.

completion of the purchase

If you’ve made it this far, the money has changed hands, you have the title and the car is yours.

Well done. You’ve made a purchase and hopefully a great deal!

The hard work isn’t over yet, but you’ve completed the most important part of the car buying and selling process. Finally, before you can make any money, you need to offer some inventory. You should be happy about that.

Let’s get it ready for sale now!

make ready for sale

Inexpensive repairs

Your vehicle may need a minor repair before you put it up for sale. If you haven’t already inspected the car for repairs, consider hiring a reputable ASE® certified technician to look at your vehicle and make sure there are no mechanical issues.

Spending $100-$300 on repairs could result in another $400-$1000 in selling the vehicle, and the fewer problems your buyer sees, the more willing they will be to pay for your vehicle.

You can often find private automotive technicians working from home and offering discounted rates. You will often place an ad in your local newspaper’s classifieds.

For example, I found a retired mechanic on Craigslist who charges $30 for a basic mechanical reliability check on vehicles, and I get a huge discount on any repairs that need to be done.

Some auto pinball machines choose to do repairs themselves, which definitely increases the overall profit margin. Personally, I’d rather pay someone to do repairs so I can keep the prep time for reselling my car under an hour.

Maximize your profits with a clean car

Cleaning your vehicle is a step you should never skip when preparing for a sale. Even if the vehicle is not very dirty when you buy it, clean it anyway. Since this is your buyer’s first impression and people tend to judge a book by its cover, this can have a huge impact on the price you can ultimately sell the car for!

Some people choose to hire an auto detailing company to clean their vehicles. This can cost up to $200 per car depending on the vehicle, and most retailers can make a car look like it just came off the showroom floor. Using detailers helps keep your time investment under our 1-hour pre-sale target.

Relative: Here’s how a couple of college students started their own mobile detailing business and grew it to $6,000 a month.

If you are willing to invest more than 1 hour, you can consider cleaning the car yourself. This takes a little more work, but keeps your margins higher. Whether you clean it or have someone else clean it, don’t skip this step!

pricing of the car

I usually start by pricing a vehicle just above the KBB® value to give myself a little room for negotiation. For example, if I plan to sell a vehicle for $3500, I will list the vehicle’s price as $3900. A buyer can offer $3200 and I can counter with $3500.

Always leave room for negotiation when it comes to prices. Buyers typically want to feel like they’ve secured a deal, and if they’re forced to pay your full price, they won’t be as thrilled to make a purchase.

That’s not to say that some buyers won’t offer full price because others will. I love these types of buyers but they are rare.

Top 3 places to flip your car

1. Craigs list

Millions of people use Craigslist to search for their next vehicle, and it’s probably no surprise that I recommend using it to sell your car. It is by far the fastest way to sell a vehicle. I even bought a car off Craigslist, prepared it for sale, listed it back on Craigslist, and sold it the same day.

Nick’s Notes: This is pretty awesome.

With Craigslist, your ad is free and visible to buyers in minutes.

I recommend that you include basic information about your vehicle in the ad. Don’t try to write a sales page because that will put off buyers. Just list all the features with awesome pictures.

I also like to include my phone number in the ad. Many people prefer to text if they have questions or want to make an appointment to view the vehicle. It also helps weed out unreliable buyers. A buyer who calls you is probably more legitimate than a buyer who emails you.

Because there are a large number of sellers on Craigslist, make sure you refresh your ad at least every other day. Posts older than 2 days are usually not read unless someone is searching for a specific model. Craigslist has a policy that prohibits identical reposts. Therefore, only use the “Refresh” option to update a post.

2. Empty lots

Often, a local business owner located on a busy highway will be willing to rent an area of ​​land to someone who sells vehicles.

Personally, I love making arrangements with warehouse owners that are at the intersection of two busy roads. They rent cheaply and like to maximize their unused real estate. The usual rate I’ve paid is $50 per month per car.

Because of the traffic, most cars sell within a week.

If you already live on a busy street, simply park the vehicles in front of your house with a for sale sign in the window. You’ll be surprised how much attention your vehicle will get if it’s priced right.

3. Bulletin Boards

Target the types of customers who would buy your vehicle and find out where those types of people hang out. Once you know where they are, post a flyer for your vehicle on a bulletin board.

For example, if you’re buying a small vehicle that would be perfect for a college student, post a flyer on a local college bulletin board. If you have a large vehicle designed for comfort, post a flyer on your local seniors’ community bulletin board.

Targeted marketing bulletin boards can be a very effective and cost effective sales strategy.

4. An alternative: could you rent it out instead?

If you’re buying a car that just isn’t selling, or maybe you want to drive it yourself for a while, Turo is an interesting new platform to consider.

Turo is a peer-to-peer car rental company. Think Airbnb but for cars. It takes some strategy and work, but a few friends of mine essentially got a free Tesla by renting their other cars from Turo.

This could be a way to turn your cars into cash-flow assets, rather than writing off stock awaiting sale.

Sell ​​without selling

If you’ve made it this far, chances are someone has called or emailed you about a vehicle you have for sale and they want to take a look. To minimize the time you spend on this step, try to estimate how serious the buyer actually is.

THE most important tip I can give about selling is this: Don’t try to be a salesperson.

I don’t consider myself a good salesman even though I’ve sold a lot of cars. However, I consider myself a good marketer. Being a good marketer is VERY different than being a good salesman.

I make cars easy to find and buy – period.

It’s likely that the person interested in buying your vehicle chose to buy it from a private seller like you and not a dealership because they don’t like being pushed into a purchase, or “sold” to will. If you’re trying to be pushy or corny salesman quips like “What can I do to get you into this car today?” They will likely deter the buyer.

Just be yourself, be honest about everything and let the buyer make the buying decision. If you properly prepared the car for sale, you shouldn’t have any trouble finding a buyer.

Bargain for profits

Price negotiation when selling is very similar to price negotiation when buying. Pick a number in your head that represents the lowest price you would accept and stick to that number. Let’s look at the dialogue, how most price negotiations work.

In this scenario, the car’s KBB Private Party Value is $4200 and it is listed for $4000. You have invested a total of $2500 in the vehicle and the lowest price you will take is $3500.

Buyer: So you’re asking for $4,000. Is that negotiable?”

You: “Would you pay cash?”

Buyer: “Yes”

Her: “I would be willing to accept less. What would you offer?”

Buyer: “Would you pay $3300?”

Her: “That’s well below KBB® value and the car is in great condition. Not perfect, but still in great shape.”

Buyer: “Can you make $3700?”

Her: “You have a deal”

The buyer gets the car under its KBB value and feels that he/she got a good deal by talking you down $300. By now you’ve secured a higher price than you would have been willing to accept. A win!

completion of the sale

Once a deal is closed, make sure you get the cash before transferring ownership to the buyer and make sure you are very familiar with your country or state’s regulations on transferring vehicle ownership.

Most US state-specific forms can be found at USLegalForms.com.

Increase your profits

If you’ve followed the steps above, you’ve bought a car, prepared it for sale, and sold it for a profit – GREAT JOB!

What’s next? Do it again of course! Snowballing wins are the best way to gain momentum while flipping cars, especially if you’re not starting out with a lot of working capital.

I started with $850.

I used that $850 to buy a car that I sold for $1300.

I then used $1300 to buy the next one and so on. This is how you skyrocket your profits. Once you reach a point where you can buy and sell enough cars to recoup your initial investment, any profits from the sales will go right into your pocket.

Last words from Jeremy Last words from Jeremy

I really hope you enjoyed this article as much as I enjoyed writing it for you and I hope that you feel the confidence to start buying and selling cars for a profit today.

I have created a page on my website just for Side Hustle readers. Visit me at 3HourFlip.com/sidehustle for a free auto flip gift!

Thank you again and I wish you the very best!

What else could you shoot?

Nick’s Notes: Another business that might be worth exploring is simply buying clearance items locally and reselling them for a profit on Amazon. This is known as Amazon FBA Clearance Arbitrage or Retail Arbitrage.

It might not be as flashy as the sneaker business, but it can be easier to source inventory and start multiplying your money. Click here to learn how to get started, or listen below:

And come here to take Jessica’s free 7-day course on how to get started selling on Amazon.

The other pinball business I want to share is my friend Rob’s – he runs Flea Market Pinball and Pinball University.

The guy has some crazy amazing stories about the random stuff he found and then resold for big profits. And he turned it into a six-figure, full-time business!

Watch my interview with Rob to learn more, join his free webinar, or listen with the player app below:

Finally, there’s an entire industry that’s built around book turning. A guest of mine reported making up to $4,000 a month reselling used books.

It’s your turn

Have you ever sold a car for more than you paid for it?

Conventional wisdom holds that cars devalue assets, but the system Jeremy designed offers an interesting alternative.

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frequently asked Questions

Was sind die besten Autos zum Wenden?

Die am häufigsten umgedrehten Fahrzeuge sind entweder begehrte Spezialautos oder ältere Modelle in der Preisklasse von 500 bis 4500 US-Dollar. Beginnen Sie bei neuen Flippern mit günstigen Autos, um Ihr Abwärtsrisiko zu minimieren. Suchen Sie nach Modellen von angesehenen Marken, die möglicherweise einige kostengünstige Reparaturen benötigen, um Ihren Deal aufzuwerten.

Ist das Überschlagen von Autos legal?

Die Vorschriften für den Kauf und Verkauf von Autos mit Gewinn variieren von Staat zu Staat, daher ist es am besten, die Gesetze in Ihrer Nähe zu überprüfen. Bestimmte Staaten erlauben bis zu 5 Verkäufe pro Jahr, während andere bis zu 12 erlauben, bevor Sie sich als Autohändler registrieren müssen.

Wo sind die besten Orte, um Autos umzudrehen?

Craigslist, Schwarze Bretter, leere Grundstücke und der Facebook-Marktplatz runden unsere Liste der besten Orte ab, an denen Sie Ihr Auto weiterverkaufen können, nachdem Sie es gekauft und gereinigt haben.

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Stock Foto von Soloviova Liudmyla über Shutterstock

Rollover accidents are among the most dangerous types of accidents. When your car is rolling, you will be thrown around the car and come into contact with various objects before coming to a stop. Your body is at the mercy of elements beyond your control.

In a rollover accident, you go everywhere the car goes. It is particularly dangerous if you are not wearing your seat belt. According to the National Highway Traffic Safety Administration (NHTSA), rollover accidents cause over 10,000 deaths each year.

How rollover accidents differ from other car accidents

Rollover accidents can be among the deadliest traffic accidents, along with frontal collisions. Normally, the energy built up by your car is typically affected by factors including:

The speed at which you drive

How effectively you can step on the brakes

The road conditions

Vehicles are built with safety features such as crumple zones that allow energy to be safely transferred in the event of an accident. However, a rollover accident results in all of the energy of your vehicle’s impact throwing the vehicle back and forth. This can wreak havoc on the human body.

Depending on the severity of the impact, there may also be what is known as cabin intrusion, which occurs when the car’s structural integrity folds inward like a sort of crumple effect. In the past, this could be a death sentence, especially before the widespread introduction of seat belt laws. Fortunately, modern vehicles are strong in rollover car accidents.

For free legal advice, call 800-537-8185

The damage caused by rollover accidents

While flashovers don’t always cause serious physical injury, the potential for destruction is much higher. In some cases, someone can be thrown out of the vehicle through a door or window if a driver or passenger is not wearing a seat belt. Between loose objects in the car and the sheer force of the impact itself, people in the car can sustain injuries including:

traumatic brain injury

Neck or spine injuries

broken bones

cuts or lacerations

loss of limbs

permanent disability

With modern safety features, the impact on the human body can be reduced when the airbags deploy, which should be the case in an accident of this magnitude.

Unfortunately, important automotive safety functions sometimes fail. A New Orleans, LA auto accident attorney can review the facts of your case to determine if your rollover was caused by defective parts. An auto parts manufacturer may be responsible for your injuries and other accidental losses.

The causes of rollover accidents

There are many causes of rollover accidents, but they typically occur when a car’s balance is thrown off balance by an external force or by an energy shift – such as an engine. B. too fast changes of direction – is brought out of balance. When it comes to a car crash in a single car crash, it may have something to do with the speed the person was driving. Other factors can be:

charge overloaded

Dangerous road conditions

strong winds

Steep inclines

Sharp curves

Any vehicle can suffer a rollover accident. However, tall or narrow vehicles are more likely to be involved in rollover accidents. This includes vehicles such as SUVs, vans and pickups.

Click here to contact our personal injury attorneys today

How to avoid a rollover accident

Often these accidents can be avoided by maintaining a safe speed and being cautious when road conditions deteriorate. Always take appropriate safety precautions when driving, such as

Wear your seat belt

Compliance with the posted speed limit

Avoid distracted driving

Practice defensive driving

Use of a designated driver when consuming alcohol

Ask a mechanic to inspect your airbags

Make sure your tires have the correct tread

However, there will always be unexpected accidents in life. Between reckless drivers and falling debris, many things can ultimately cause a car to tip over. Avoid storing heavy, unsecured items in the back seat of your car if you are ever in a rollover car accident.

Questions? Call 800-537-8185

to find a Morris Bart office near you.

A car loan is upside down when you owe more than the vehicle is worth. In other words, you have negative equity.

Upside-down credit is almost inevitable – vehicles lose 20% of their value the moment they are driven out of the parking lot. If you drive a $25,000 car out of the dealer’s lot, it’s only worth $20,000 at the first stop light. Depending on how much money you invest, you may already owe more than the car is worth.

The median price for a new car in 2022 was $45,927 and the median loan was $39,340. That means you’ll need a down payment of more than $7,800 to buy an average-priced new car if you want to avoid driving off the property with negative equity.

If you sell a car with negative equity, you’re unlikely to get enough money to pay off your debt. If you wreck the vehicle in an accident, insurance will only pay out the value of the car regardless of how much you owe, meaning you still owe the balance and making it harder to get a new car.

“The best financial move people can make is to buy a car and drive it well past the point where it’s paid off,” said Jessica Caldwell, senior analyst at Edmunds, an automotive information and resources company. “Unfortunately, the trend is that fewer and fewer people are doing it now.”

How you get turned upside down with a car loan

Let’s face it: Getting a new car is exciting. Unfortunately, excitement and financial smarts don’t always go hand-in-hand. Excitement can lead to an upside-down car loan in many ways.

Insufficient Research: Many consumers do not adequately research the cost of similar models. If you buy a car with a $30,000 sticker price and similar models are selling for $27,500, you’re already upside down with your new car.

No Money Down Loans: Cars lose 20% in value immediately and lose 50% of their value by the third year. The less money you have, the more upside down you are.

Long-term loans: With terms of 72 and even 84 months, you can keep the monthly payments manageable, but you still end up paying for a car that is five or more years old. Payments for that long can’t keep up with depreciation.

Roll-over loan: The dealership will often offer to roll over your old car’s negative equity into your new car loan. That means you pay more than the new car is worth right from the start.

Unnecessary Options: Don’t be tricked into choosing options you don’t need or won’t use, such as: B. a sunroof, leather upholstery, heated seats, technology that can be connected to a smartphone, etc. Options create more debt and cannot recoup their costs if you sell the car.

Expensive Car: Buying a car that pushes you to the limit of what you can afford competes with other necessary payments like housing, food, student loans, and more.

High-interest loans: Plan your financing before you go to the dealership and don’t give in to the pressure to opt for dealer financing at a higher interest rate.

How to get out of a reverse car loan

So what’s the solution when you’re stumped on a car loan?

The good news is that there are ways to get out of a car loan, unless you wrecked the car or need to sell it quickly.

Calculate the negative equity

The first step is to know how under water your car loan is. Negative equity is a simple subtraction problem – what you owe minus the vehicle’s value.

Find out the value of your car with Kelley Blue Book or Edmunds, both of which have online calculators that determine value based on model, year, condition, mileage and more. The National Automobile Dealers Association also has leaders. Check more than one source as calculations may vary. Be honest about the condition of the vehicle – there is no point in temporarily deluding yourself that the car is worth more than it really is.

Find out what you owe by checking your loan account online (most lenders offer this option). The payout number changes daily due to interest accumulation, so for the exact number (or if you don’t have an online account) call your lender and ask.

For example, if you owe $17,000 and your car is worth $11,000, you have $6,000 in negative equity. That means if you sold the car for what it was worth — $11,000 — you still owe $6,000 on the loan.

Contact your lender

Once you calculate negative equity, call your lender to discuss options. You may feel uncomfortable doing this. If you are behind on payments, you may be avoiding your lender altogether. Remember that the lender is just as keen to find a solution so they don’t lose money on the loan.

Some lenders may offer refinancing or another solution. Others may not have options for you, but it’s still a good idea to find out and let them know you’re working on the issue.

Proceed with payments

However you plan to exit your upside-down loan, the immediate priority is to keep making payments on time. This further repays the loan, reduces the balance and increases equity. Another benefit is that it protects your credit score, making it easier to get better credit terms next time. If you have a lot of negative equity, consider buying gap insurance to cover the difference between an insurance settlement and what you owe on the loan if you get into an accident.

If you can’t make car payments, you need to make that clear when you speak to your lender. If the lender doesn’t have any options, speaking to a nonprofit credit counselor can help. Credit counselors at nonprofit agencies — accredited by the National Foundation for Credit Counseling — will speak to you for free, review your finances, help with budgeting, and suggest options to reduce your debt.

Make as many payments as possible

Another way to get out of a reverse car loan, if you can afford it, is to pay a premium on the principal each month. This pays off the remaining balance and increases equity more quickly. Check in advance whether your loan agreement provides for a fee for early repayment.

You can also use savings to pay off your loan. The downside is that you’ll run out of money to pay down money on your next car, and many banks don’t want to lend to consumers who don’t have down payments.

Refinancing an upside-down loan

Refinancing with a new loan can also get you out of a reverse car loan. If interest rates are lower than when you took out the original loan, refinancing can help you pay off the car faster, or at least get some equity. Large lenders aren’t usually interested, but a community bank or credit union may consider the option.

If you are a homeowner, a home equity loan can be a good option if it offers interest savings.

It may also be possible to transfer your car loan balance to a credit card that has a 0% introductory offer. At the end of the introductory period – 12-18 months for most cards – you refinance the remaining balance with a credit union or peer-to-peer lender.

Sell ​​your inverted vehicle

If you’re hopelessly upside down on a car loan, selling the car and taking out a second loan to cover the negative equity is an option. The loan or cash lump sum is required because once the car is sold, the lender no longer holds the title and you have to pay the debt.

To sell the vehicle in a way that benefits your financial situation:

Use the steps above to determine the amount of your negative equity.

Find a way to pay the balance to the lender. This can be a loan, although without a car as collateral, an unsecured loan can be difficult to obtain. Most banks require you to have good credit to get an unsecured loan. Credit union members may have better luck. Other options include family, friends, using a credit card, or borrowing against your 401(k). All have downsides, so consider your options carefully before jumping in.

If you are selling the car, you may get a better deal selling it privately than selling it through a dealer. Private sales, especially if the car is in good condition, usually yield better results than trade-ins. Even if you are buying a cheaper or used car, try to sell the car first rather than trade it in.

If you have sold the car, consider using public transport instead of replacing your car. While this isn’t an option in many areas of the country, the money you save on maintenance, insurance, and gas can help you pay off the balance of your loan, or you can build savings for a down payment.

Voluntary surrender

A last resort to get out of a reverse car loan is to voluntarily surrender the vehicle to the lender. This will have a significant negative impact on your credit score, making it harder to get a car loan, borrow for other things, get credit cards, and more in the future.

However, it is a better option than a lender withdrawal. With a voluntary return, you call the lender, set a time and place, and avoid costly exit fees.

Tips to Avoid a Reverse Car Loan

The best way to avoid getting a car loan you can’t afford is to not get one in the first place. Do your research before you buy a car to ensure you understand the cost of options, financing, taxes and the best value for the make or model you want.

This research can make it clear that your best option is to buy a used car. Used cars of newer design with low mileage are financially worthwhile. The first owner paid the price for depreciation in the first year, so the purchase price should be at least 20% less than the original cost.

Don’t just look at the total price when buying – consider how much the car loan will cost you per month, including interest, taxes, any additional gas costs if it’s a larger, less efficient model, and more. That’s the number that affects your daily budget.

If you’re buying new, use the 20-4-10 rule – 20% down payment; 4 year (or less) loan; and the monthly car payment plus insurance is no more than 10% of your gross income. If you can’t get those numbers to work, look into used cars instead.

Whether buying a used car or a new car, the following tips can help you turn a car loan upside down:

Taxes and Fees: When you buy, you pay taxes and fees up front instead of adding them to the loan. Amortization Schedule: Choose the shortest amortization schedule you can afford. Interest rates are lower and payments are made faster. For example, a $25,000 loan for three years at 3.5% interest (with a credit score of 661 or more) would cost $1,372 in interest over the life of the loan. Over four years it would cost $1,827. A five-year loan would cost $2,287. The lower your credit rating, the higher the interest rates. A credit score between 601 and 660 at an interest rate of 6.07% means $2,408 in interest on a three-year loan; a five-year loan would cost $4,048. The average borrower in 2022 had a 60-month loan of $39,340 at 5.2% interest for $5,420 in interest costs. Deposit: Pay a deposit of at least 20% equal to immediate depreciation. Depreciation: Research values ​​in Kelley Blue Book and Consumer Reports to estimate the car’s value and find out which models hold better value over the years. This prevents you from overpaying and ensures you have a car that is worth more when you sell or trade it in. If you plan on keeping the car longer than the life of the loan, you may be under water at first, but build equity as you pay off the loan. Regular maintenance and a clean car in good condition also help preserve value when you sell it. Leasing or Buying: If you plan to keep a car for less than three years, consider leasing rather than buying. A lease means no loan, which means you can’t stand upside down. Make sure you are aware of the terms of the lease – if you drive a lot the mileage can make the purchase more expensive. Incentives: Loo for merchants offering cash incentives that make up the difference of the 20% depreciation. Pay off: Pay off your car loan before you sell or trade it in. Bad Credit Loans: If you have bad credit and need an auto loan, look for a personal loan from online lenders, a credit union, or look at a home equity loan. You can have lower interest rates than a dealer.

Using a car with negative equity as a trade-in

If you are considering trading a car with negative equity, our new loan won’t give you any more negative equity.

Putting the negative equity on the loan by trading in a car with negative equity means you owe more than the new car is worth before you’re even in the driver’s seat.

For example, if you owe $7,000 for a $5,000 car, the dealership will credit you with $5,000 for the trade-in and add the remaining $2,000 to the new loan. That means you owe $22,000 to start with on $20,000.

Find a way to eliminate the negative equity before trade-in. Pay it off with a personal loan, home equity loan money, or another source that has a lower interest rate than the car loan (or no interest). If you can’t pay the full amount, pay as much as you can to lower it.

If you can’t afford to eliminate negative equity, consider keeping the car rather than buying another. Find ways to reduce monthly expenses so you can afford the payments, and if possible, add more to the capital to increase your equity until you can get a better deal on a new car.

said Caldwell of Edmunds. “Unless your circumstances have changed radically – you’ve started a new construction company and now you need a truck; or you just had triplets and now you really need a mini-van – having a new car loan and negative equity in your trade-in doesn’t put you in a good position financially.”

Consider debt relief options

If you’re so heavily in debt that strategies for getting out of a car loan aren’t applicable, but you can’t afford your monthly payment, consider debt relief options. Two of the most common are debt consolidation and debt settlement.

Debt consolidation combines your car loan with other debt into one large loan. The new loan usually comes with lower interest rates and better repayment options.

In debt settlement, you – or a comparison firm acting on your behalf – negotiate with your creditors to reduce your balances to a level that you can repay.

If you have serious debts that you can’t see a way out of, you can file for bankruptcy, which can pay off all or most of your debts.

Before taking any debt relief action, it’s a good idea to speak to a credit counselor at a nonprofit credit agency. A credit counselor will review your finances and help you set a budget and discuss the pros and cons of various debt relief options. A situation that may seem impossible and overwhelming can become much clearer after such a discussion. Counselors at non-profit debt agencies will conduct this interview with you free of charge. They are bound by strict rules that require them to act in your best interests rather than push or sell any particular product. Talking to an advisor can be the first step in getting out of a car loan you can’t afford, as well as other debts.