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Thread: My 2002 3.0L,Toyota Solara Flip.

  1. #1
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    Default My 2002 3.0L,Toyota Solara Flip.

    Hello all, after many years at looking at cars to flip, I think I finally found one I that can afford to buy. As the title says, it has just under 120,000, SLV, leather interior, sun roof. The bad, it needs a motor, has some dents, the interior needs a cleaning, paint could use a polish and needs tires. I might change the driver seat out, it has a tear in it, and windshield is cracked.
    So has anyone pulled a motor from one of these or from the Camary? Trying to see if it is better to pull the engine and trans, or drop everything out the bottom. What are you thoughts?

    Len, I wasn't sure where to put this post at.

    Thanks.
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  2. #2
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    Just a quick update. Well I pulled the oil pan, and found a spun rod bearing, looks like it was ran for awhile. I was hoping of just putting in new bearings and be good, looks like I will be pulling the motor after all.

    Thanks.

  3. #3
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    Default Buy another...

    Quote Originally Posted by SStampede View Post
    Just a quick update. Well I pulled the oil pan, and found a spun rod bearing, looks like it was ran for awhile. I was hoping of just putting in new bearings and be good, looks like I will be pulling the motor after all.

    Thanks.
    You gotta NOT get in too deep on cars like this. Yes, there is a market for them (too many people think Toyotas shit ice cream out the exhaust). If you change the engine, you better do the timing belt and water pump with the engine out of the car and plugs too!

    Maybe you could by another. A rollover might go cheaply, but you're not the only one after that engine. I see no advantage to sticking with this model and type......money pit. (unless YOU want the car).

    Is the Equinox still running and looking good?

    Henry

  4. #4
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    I bought and sold cars for years as a sideline to make a few extra bucks. I developed what I called the "trilogy" rule of flipping cars. The trilogy means three things. So to me a potential candidate of any car/truck to be bought and sold for profit is broken down into three different categories. One is the mechanical part of the vehicle like engine work, transmission work etc. Another of the three is body work, rust, dents, collision, broken glass etc. And the last of the three is the interior, seats, carpets, headliner, cracked dash etc. Why I came up with that "trilogy" is in most cases with the right car you can buy, repair and sell at a profit if any one of the three groups needs repair or replacing BUT NOT ALL THREE. In fact if any car needed work in any of the 2 categories I stayed away from buying the car. The profit ends up so small (or non existent) that it's not worth messing with. Another part of that "trilogy" is breaking down the financial aspect of purchasing a car that needs work - (1) initial purchase price of the vehicle that needs work. (2) cost of repairs including labor. (3) Expected profit from the sale of the vehicle when repairs are done and the car is sold. ANY vehicle I bought to flip has to be bought for less than 1/3 the selling price. So if you plan on the selling the car for $6,000 when finished then don't pay more than 1/3 of that which makes $2,000 the purchase price. Naturally there are vehicles that need less or more work than other vehicles. And keep in mind that EVERY vehicle you buy to make a profit is going to need more work and more money invested than you think when you buy it. (usually mechanical and electrical issues). The biggest red flag for me in purchasing a car to flip for profit is a salvage title. That to me is the kiss of death in trying to make a profit. You can follow the "trilogy" and still lose money in a car flip because of unseen mechanical damage. I bought a front wheel drive car years ago that was hit in the left front. It got the fender, bent the steel wheel etc. Didn't look bad so I bought it. Found out later that the hit in the wheel drove the axle into the trans and cracked the bell housing on the trans. NO profit on that job. Some I did really well on and some I barely make a profit and a few I lost money on. The bottom line is flipping cars is a crap shoot even when you know what to look for.

  5. #5
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    Henry,

    The Equinox is still running good, just needs a muffler, and I think a charcoal canister, or the pressure tank sensor, to get the check engine light off. The hood still drives me crazy every time I look at it, not going to fix it.

    On the Solara, I found a 70,000 mileage engine for a good price, the body needs a good polish, some PDR, tires, windshield and cleaning in the interior. I'm in the car for a good price, I hope I do Ok on this one.

    Phil V,

    I've read you're trilogy before, it's pretty good to go by, I find it hard to find a vehicle that meets all those standards, I'm always a dollar short and a day late.

    I told the wife last night, I should of bought a wreaked one, then the whole salvage title issue.

    Thanks.

  6. #6
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    Default Money to be made...

    Quote Originally Posted by SStampede View Post
    Henry,

    The Equinox is still running good, just needs a muffler, and I think a charcoal canister, or the pressure tank sensor, to get the check engine light off. The hood still drives me crazy every time I look at it, not going to fix it.

    On the Solara, I found a 70,000 mileage engine for a good price, the body needs a good polish, some PDR, tires, windshield and cleaning in the interior. I'm in the car for a good price, I hope I do Ok on this one.

    Phil V,

    I've read you're trilogy before, it's pretty good to go by, I find it hard to find a vehicle that meets all those standards, I'm always a dollar short and a day late.

    I told the wife last night, I should of bought a wreaked one, then the whole salvage title issue.

    Thanks.
    There is money to be made and always a shirt to be lost.

    I can accept that Phil hates salvage vehicles. However, his opinion is jut that; his opinion. Maybe where he lives and the clientele in his area is hard to sell that crap to so, I can accept his dislike for salvage.

    180 degrees away from Phil, we have Sam G who loves salvage and has done quite well with what he's bought for plenty of years now. I classify Sam G as an individual who forgot more than a lot of people learn (not reference to Phil in this statement either).

    The most money I made flipping for 20 years straight was buying trade-in cars from local dealer(s) in a sealed bid. One such dealer had 8 different franchises of new cars and all trade ins came to the lot to be viewed on Thursday. One time I put in bids on 7 vehicles and ended up with 6 of them. I did not expect that

    I bought these cars/trucks very well, put little into each one and sold everything within a week of an ad in the newspaper.

    As for salvage, there is a lot of money to be made. Some shops who deal in this have waiting lists for certain cars and lists of people who want certain cars with certain miles with limited damage and they are out there.

    A good thing to do with anything you want to flip is buy all you can of the same vehicle. This gives you tons of parts both mechanical and body and even interiors. That Solara, to me, is a money pit on wheels.

    Henry

    I sold a salvage piece on time and you get all the questions. Who owned it, how many owners, how bad was it hit, etc. I told the guy (who really pissed me off) this thing was hit by a slow moving train. Hit every corner. Couldn't recognize the thing. He says, can I drive it and did and yes, he bought it. A year later he came back looking for something for his sister.

    One idiot really pushed it on a clean title car. How many people used it, owned it, sat in it? Did they fart in the car. I got so pissed I said, what if I ask you the same questions about your wife?

  7. #7
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    Quote Originally Posted by Henry View Post
    There is money to be made and always a shirt to be lost.

    I can accept that Phil hates salvage vehicles. However, his opinion is jut that; his opinion. Maybe where he lives and the clientele in his area is hard to sell that crap to so, I can accept his dislike for salvage.

    180 degrees away from Phil, we have Sam G who loves salvage and has done quite well with what he's bought for plenty of years now. I classify Sam G as an individual who forgot more than a lot of people learn (not reference to Phil in this statement either).

    The most money I made flipping for 20 years straight was buying trade-in cars from local dealer(s) in a sealed bid. One such dealer had 8 different franchises of new cars and all trade ins came to the lot to be viewed on Thursday. One time I put in bids on 7 vehicles and ended up with 6 of them. I did not expect that

    I bought these cars/trucks very well, put little into each one and sold everything within a week of an ad in the newspaper.

    As for salvage, there is a lot of money to be made. Some shops who deal in this have waiting lists for certain cars and lists of people who want certain cars with certain miles with limited damage and they are out there.

    A good thing to do with anything you want to flip is buy all you can of the same vehicle. This gives you tons of parts both mechanical and body and even interiors. That Solara, to me, is a money pit on wheels.

    Henry

    I sold a salvage piece on time and you get all the questions. Who owned it, how many owners, how bad was it hit, etc. I told the guy (who really pissed me off) this thing was hit by a slow moving train. Hit every corner. Couldn't recognize the thing. He says, can I drive it and did and yes, he bought it. A year later he came back looking for something for his sister.

    One idiot really pushed it on a clean title car. How many people used it, owned it, sat in it? Did they fart in the car. I got so pissed I said, what if I ask you the same questions about your wife?
    I agree, Henry. Sam G absolutely knows his stuff. Around here a salvage title is the kiss of death (at least it used to be, haven't tried lately for obvious reasons.) I agree there are a lot of morons out there wanting/demanding a new car for $500. I don't have patience for people like that anymore. One way to cut the conversation short is to say " It's obvious you wouldn't be satisfied with this car, so we're done here (at which point I walk away leaving them standing there). Then you get the people who think they are going to get car cheap by nit picking ridiculous things on the car. I tell them what the selling price is and if they want to pay my price then I'll sell it, if not then I have other things to do. I sold one of my bikes (a Harley) a couple weeks ago on craigslist. Part of the ad read " If you don't have the full asking price or you are not prepared to pay my asking price then please don't contact me. If you come here nit picking the bike trying to get a better price it's only going to piss me off and the conversation will end there". First guy that came to look at it, bought it and paid my asking price in cash. I kind of apologized to him for my sounding like a jerk in my craigslist ad but he laughed and said he understood why my ad read the way it did.

  8. #8
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    Default

    Quote Originally Posted by Henry View Post
    There is money to be made and always a shirt to be lost.

    I can accept that Phil hates salvage vehicles. However, his opinion is jut that; his opinion. Maybe where he lives and the clientele in his area is hard to sell that crap to so, I can accept his dislike for salvage.

    180 degrees away from Phil, we have Sam G who loves salvage and has done quite well with what he's bought for plenty of years now. I classify Sam G as an individual who forgot more than a lot of people learn (not reference to Phil in this statement either).

    The most money I made flipping for 20 years straight was buying trade-in cars from local dealer(s) in a sealed bid. One such dealer had 8 different franchises of new cars and all trade ins came to the lot to be viewed on Thursday. One time I put in bids on 7 vehicles and ended up with 6 of them. I did not expect that

    I bought these cars/trucks very well, put little into each one and sold everything within a week of an ad in the newspaper.

    As for salvage, there is a lot of money to be made. Some shops who deal in this have waiting lists for certain cars and lists of people who want certain cars with certain miles with limited damage and they are out there.

    A good thing to do with anything you want to flip is buy all you can of the same vehicle. This gives you tons of parts both mechanical and body and even interiors. That Solara, to me, is a money pit on wheels.

    Henry

    I sold a salvage piece on time and you get all the questions. Who owned it, how many owners, how bad was it hit, etc. I told the guy (who really pissed me off) this thing was hit by a slow moving train. Hit every corner. Couldn't recognize the thing. He says, can I drive it and did and yes, he bought it. A year later he came back looking for something for his sister.

    One idiot really pushed it on a clean title car. How many people used it, owned it, sat in it? Did they fart in the car. I got so pissed I said, what if I ask you the same questions about your wife?

    lol,i love salvage myself customers that tell me crap i send them links like these and say its ok heres a clean title for you,

    http://www.copart.com/us/Lot/2746519...hId=1410611819

    http://www.copart.com/us/Lot/1967575...hId=1410611819

    http://www.copart.com/us/Lot/2228677...hId=1410611819


    gotta love the clean titles right now check out the salvage ones,


    http://www.copart.com/us/search?comp...etypecode%3DNW

    i mean really how the hell is this a clean title?

    http://www.copart.com/us/Lot/3074292...hId=1410611819


    i sold a solara like that it was really clean but motor knocked bought it from auction 600 sold it 650 wasnt worth fixing..

  9. #9
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    i sold a solara like that it was really clean but motor knocked bought it from auction 600 sold it 650 wasnt worth fixing..[/QUOTE]

    Style, why is that? I'm not filling good about this ordeal.

    Thanks.

  10. #10
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    Quote Originally Posted by SStampede View Post
    i sold a solara like that it was really clean but motor knocked bought it from auction 600 sold it 650 wasnt worth fixing..
    Style, why is that? I'm not filling good about this ordeal.

    Thanks.[/QUOTE] every single one of those had sludge problems and just plain were not reliabke cars on top of that most of those cars even in junk yards are high miles and if its low miles most likley its been sitting along time and when installed a month later everything will start leaking thats just my take on it.. Like i tell my customers with salvage cars i sell i bought this car from the insurance cause something stupid happen to it i perfer it that way if its a clean title and its such a great car why are they selling it..

  11. #11
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    Buy good cars people want dont waste time on junkers.. Last week i bought a 2008 audi a3 90k miles it needed a strut control arm rim tire and drivers airbag i paid 2900 for it and sold it 6500 only replaced arm strut an put a spare tire on it..Message_1436489953488_2.jpg

  12. #12
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    Oh yea heres before pics and i put the spare tire on the right rear..
    http://www.copart.com/us/Lot/21464925

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