flipping and flippers

[wsf80]

This is a big topic on this forum.

I bought a car from a member of this forum last year. I recently sold it to a dealer. I sold it for more than i paid the prior owner. I sold it for less than i had in the car. so on a cash basis i lost money (inspection, significant servicing, etc). not a huge amount but it was definitely more than zero and not immaterial. I consider it to be rent for usage.

The prior owner asked me what type of experience i was looking for. I explained that i have been trying to find the right cars for a long time, i live in a city, work a lot and have small children. i don't have time to test/experience cars before i buy them. so i buy them, drive them for a bit and decide if they are "right" for me. I found another car i thought i would enjoy more and decided to swap.

Am i a flipper? i understand that my situation isn't necessarily typical. As i've gone through this process i try to more/less break-even so i can keep trying different cars until i find the right ones for me. Lets be honest, these prices are bananas and very subjective. Its not fun to be on the wrong side of a purchase/sale.

My point is there are many factors that go into a buy and sale process and just because someone is asking more than they paid doesn't mean they are making a profit. And if they do, good for them. I'm sure they have plenty of losses to offset.

[w00tPORSCHE]

If a person buys a car with the sole intention of making a quick profit out of it then he is a flipper in my books. Nothing wrong with that but that is flipping.

[gsjohnson]

I've sold cars that I wasn't happy with and I don't consider myself a flipper. A year or so ago I was on the hunt for a 72/73 Euro bumper 450SL. I found this unusual Yellow over Green example and bought it. When it arrived, I walked around the car a couple of times, sat in it, and walked around it some more...I hated it. It wasn't what I thought and I pondered what to do with it...

3 or 4 weeks go by and I find this triple black 450SL example in Vegas. I call the guy and we exchange emails and pics with the seller. I bought a plane ticket and flew over there. I bought the car and drove it home from Vegas. I had a great time and bonded with the car.

Now what to do with the lemon lime 450SL? Yep I flipped it...for a slight loss I might add.

[POS]

Most personal sellers want a car to go to a good home so they'd prefer it doesn't get flipped, but it's really out of their control from the moment they sign over the title. Sometimes the buyer finds something better, sometimes the buyer changes his mind. You flipped the car, but unless it's a habit of yours, I wouldn't call you a flipper. Regardless, it was your car to do with as you wished; the prior owner has no control over that.

[LongRanger]

. . . and, then again . . .

http://www.early911sregistry.org/for...-in-New-Mexico

[edmayo]

Rick, one of my definitions of a flipper is someone who misleads the party selling the car into believing the car is going to a loving home,,,,when in fact its only being bought to sell next week. As was the story of your post above.

[Frank Beck]

Begs the question: If someone buys a car and sells it the next day at a loss, are they a Flipper?


Flipper: A seller who makes more money on a car than a socialist deems acceptable.

[curtisaa]

Begs the question: If someone buys a car and sells it the next day at a loss, are they a Flipper?


Flipper: A seller who makes more money on a car than a socialist deems acceptable.

+ 1 Mr B.....

[914efi]

Another question: How long does a Porsche dealer have to hold a new [or used] car before he is not a 'flipper'. Any different now than in 1967 when these cars were sold?

How about the parts that keep these cars going, are they 'flipped' by Pelican Parts, Porsche dealers or any of the other sellers?

Maybe another way to think of this, the longer a person holds an item, the more expensive it might get due to carrying costs. A quick flip may be the ultimate best deal.

[Frank Beck]

Another question: How long does a Porsche dealer have to hold a new [or used] car before he is not a 'flipper'. Any different now than in 1967 when these cars were sold?

How about the parts that keep these cars going, are they 'flipped' by Pelican Parts, Porsche dealers or any of the other sellers?

Maybe another way to think of this, the longer a person holds an item, the more expensive it might get due to carrying costs. A quick flip may be the ultimate best deal.

Agreed. I'm not advocating "flipping" but showing bias against legal, capitalistic endeavors is a dangerous path to go down.
"May the best man win" is the order of the day and if another buyer beats you to it, he's the victor. If there is lying and misrepresentation going on during the deal that type of behavior will catch up with the guy.

I find it amusing that everyone blames the "flipper" for taking advantage of a seller. To play devil's advocate here most of these situations involve seller's who STILL sold their car for 2, 3, 4, maybe even 10 times what they paid for it! So they didn't get FULL value, they probably got every dollar that they wanted for it.

I really believe what is at the foundation of all of the discontentment toward flippers is that another guy got the girl. The old fashion sin of envy is at work here.

Paradigm shift: If a flipper buys a car at least you still have a shot at buying it. If a collector buys it fugetaboutit! That car is off the market for an indefinite period of time.