I May Have to Flip It

[HistoryGuy]

So...Best case scenario my Maverick will arrive in November. I am going to buy a car now because it is time to get on with things.

I may resell the Maverick as soon as it arrives this Fall. For those that have "flipped" a vehicle do you have to wait for the DMV to send you the title first before selling it? This may be problematic considering that it may take several weeks to receive the title.
Your thoughts and advice are appreciated.

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[Brad3D]

Always a risk flipping so if you don't have the available assets to do so and be ready to wait for the title before selling. I would try to find a creative solution if you want to continue. What if the title takes 6 weeks to get? It should take 2, but you never know.

I don't think a dealer or a private buyer would want to make a deal until you have the title in hand. It isn't worth the risk to them. I could be wrong, there are desperate dealerships and people out there.

 

[Maverickman74]

I recommend selling it instead of "Flipping" it. Flipping it implies that you are a bit of a dick. I dont think you are but thats whats implied. Honestly if you dont have the time or money to sell it privately after waiting for the title, just cancel the order or offer it to a dealership. What about Carvana? They are tossing money at people arent they?

 

[MLowe05]

I'm pretty sure when the OP said "flipping it" he meant to someone like Carvana. Yes, you will need to wait on the title (assuming you paid in full) or at minimum the registration to be in your name.

At that point, I recommend auctioning it to Carmigo. They're not well known yet, but I did that with both my Maverick XL and Genesis G70 and got more than anyone else was willing to offer.

 

[OleFordGuy]

I have no idea really but people trade in vehicles all the time that are not paid for and owner doesn’t have the title, granted that’s to a dealer not an individual buyer

 

[The64]

State's might be different, but you need a clear title. In NY, it took about 1 month for my title to come, but I did everything by mail. If you are going to flip, pay cash because you need that title to have no lien stamp on it.

 

[Lapp0424]

I recommend selling it instead of "Flipping" it. Flipping it implies that you are a bit of a dick. I dont think you are but thats whats implied. Honestly if you dont have the time or money to sell it privately after waiting for the title, just cancel the order or offer it to a dealership. What about Carvana? They are tossing money at people arent they?

Flip that thing. Call what you want but make that money. I Flipped mine back in November for 5k profit without the title. Did it through webuyanycar.

I plan on flipping this one for a 23 model. Carvanna wants to give me 10k over my OTD.

Remember we ain't the red cross.

 

[Lapp0424]

I recommend selling it instead of "Flipping" it. Flipping it implies that you are a bit of a dick. I dont think you are but thats whats implied. Honestly if you dont have the time or money to sell it privately after waiting for the title, just cancel the order or offer it to a dealership. What about Carvana? They are tossing money at people arent they?

And whatever you do don't cancel the other order. Piss poor advice.

It's business.

 

[Ryan2200]

I would definitely recommend Tred.com I have used them to sell 2 vehicles one being a Maverick and can’t not be happier with the outcome. Sold the Maverick for $3800 more then the best Carvana offer I had(seems to fluctuate by the day). I did have the title in hand for my Maverick sale however if you have it financed they will take care of paying off the lender.

They basically act as a escrow service. The buyer pays them, they verify the funds, then tell you it’s safe to release the vehicle to the buyer or their transporter and then you get paid the next day! Both parties are protected! Then they send you a mailer to send you title to them. They handle the title work.

After selling 2 vehicles I would recommend NOT to spend the extra money to make your listing “Tred certified” Doesn’t seem like if payed off at the end. Their regular listing option is perfect.

Here is some more info and a referral code if anyones interested:

TRED referral coupon code is:
Q2Yxb7eGPu



They Get:

• $50, once they complete their transaction.
• 30% better price, on average, than buying from or selling to a dealer.
• Security of dealing with vetted buyers, and payment and the whole transaction guaranteed by TRED.
• Convenience of TRED handling all paperwork, so they don’t even have to set foot inside a DMV.
• TRED is also a great way to sell a car if they have a loan or lease.

 

[austinzone]

I understand others perspectives, but here is the reality:

A. If you just give the order back to the dealer - they will resell it for at least4k-5k above listing.
B. If you sell it to a person, at the cost you paid for it, there is zero assurance you have that they wont just go sell it to carvana, carmax, etc.
C. If you sell it to Carvana or another company then you profit 4k-5k.

Unless you're helping out a friend or family member - why let someone else make the money.

 

[Deleted member 14823]

Now flip it into shape
Shape it up, get straight
Go forward, move ahead
Try to detect it, it's not too late
To flip it, flip it good

 

[Maverickman74]

Sorry folks I just avoid propagating greed.

 

[RonFLA]

Oh, “Flippng” like on TV, looks so, so easy…

Yeah, selling a “new” vehicle privately can quickly become a real source of headaches, if you don’t have experience. I mean, what’s your time worth, factoring in the risks, stressed out spouse, draining your savings in an unstable economy, not knowing your state laws and civil liabilities, compounding interest on the initial loan, surprise dealership fees and needless add-one’s at point of sale, ensuring you consider your State and Fed. tax requirements, this can become a lower profit generator than many tout it being.

As others have stated, if you don’t have the means to pay the vehicle off, at the point of pickup, from a dealership inside your state, so you can secure the title quickly, this can become a headache that can bite many later in unforeseen issues. I’m not saying don’t do it but as I get older, money isn’t always my biggest motivator.

 

[C J Cox]

Check your state motor vehicle website for requirements selling a car or truck. Almost all states require a paper title to sell a car or truck.

Carmax and Carvana will not purchase a vehicle without a title. Both wanted copies of my current vehicle registration in addition to the title. I only have experience with those two companies.

Some states do electronic titles. Buyers may require a paper title. If so, cost and time to obtain one could be a factor.

Keep in mind that the Ford dealer you purchase the Maverick from may want to keep your money as long as they legally can. If the temp registration in 60 days (my state Maryland), the dealer can take that much time to provide the permanent doc(s) necessary for a sale.

You may need to check with your state about documentation for selling a vehicle with a loan. My state, all I need is the paper titile with the lien holder information.

The used car market is in an unusual place, take advantage if you can.

 

[es7129]

State's might be different, but you need a clear title. In NY, it took about 1 month for my title to come, but I did everything by mail. If you are going to flip, pay cash because you need that title to have no lien stamp on it.

In NY you can sell a car with a title that has a lienholder stamped on it; you don’t even need the lien release at the time of sale.

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