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TopicHow can I turn the $2k I have in the bank into $100k as fast as possible?
Norman_Smiley
01/03/21 5:48:29 PM
#32:


Arcanine2009 posted...
what's scrapping a car? first time I heard that?

1) Buy a really cheap car. Normally totaled, sometimes major component failure.

2) Disassemble the car. Part prices are normally a combination of condition, color, and if there is anything unique about it. Example, a Natural White 4runner hood might go for $300 in excellent condition. A Glacier Metallic hood with a hood scoop in excellent condition would probably be closer to $800. Any of the rarer colors, my friend has multiple customers signed up to get that door in the color they need or whatever. You could also make people take the parts themselves, but you will get less money and it will take longer to part out the car.

3) List the car locally (craigslist and facebook) and on enthusiasts boards with pics, and as much detail as possible.

4) Not every part sells. At some point you've got to cut losses and recycle the rest. I'd guess my buddy recycles 75-90% of the shocks and springs, 95% of radiators [often radiators are a good money maker, not the case on this particular vehicle though).

5) You need time and space for this to work. And it works best once you become a bit established in the enthusiasts community.

There are tons of cars that this works for, but there is an element of localization to it. Like in Washington there are a few people that do this for Saabs. Not sure that market would exist elsewhere.

In general, I would say just about any truck or SUV made by an american or japanese brand is a good candidate for this. older japanese commuter cars with an enthusiast base (80s and 90s civics, CRX, accords, preludes to a slightly lesser extent), pretty much anything v8 RWD that is not a luxury car, Volvo's have a huge diehard community. BMW 3 series and some 5 series are good, I would probably avoid 7 series, whereas I would consider Mercedes S-class. Mini's are starting to look like a possibility. Subaru's are good across the board.

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