I May Have to Flip It

[AznMav]

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.

Sold our CR-V to CarMax in CA no title required they paid off the loan and cut me a check for the difference on the spot. Was very easy.

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[Decayed]

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.

This is the reality of the market. Unless you are selling to a family member or something you might as well be the one to make money from the sale. This market won't last forever but somebody will make some bank.

 

[Tbolt]

This is the reality of the market. Unless you are selling to a family member or something you might as well be the one to make money from the sale. This market won't last forever but somebody will make some bank.

The bubble is already starting to burst.

 

[Decayed]

The bubble is already starting to burst.

Yeah I'm hoping to get my truck within the next few weeks hopefully the trade market stays hot until then.

 

[Lapp0424]

Sorry folks I just avoid propagating greed.

Greed is good. An asset that 9.999 times out of 10 that depreciates, but for the time being appreciates is a total anomaly. Make that money before the window closes.

 

[Lapp0424]

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.

FAKE NEWS.


It's not that hard to flip a car. The major guys like carvnna webuyanycar can close the deal the deal without the title. We aren't talking about a house here.

 

[FloodingdowninTX]

Many of us have had very similar situations and pressures as OP this past year. It's reasonable, fair, and ethical to prioritize you assets and dispose of any of them as you wish IMO. Acquiring this particular truck will have cost effort, attention, thousands of dollars and most preciously, time. It's no sin to capitalize on the current market.

 

[RonFLA]

FAKE NEWS.

I don’t think you know what this term means, as it’s not FAKE nor NEWS.

 

[Stonhous35]

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.

How long did it take to sell?

 

[MLowe05]

How long did it take to sell?

Their auctions only allow dealers to buy the cars, and they run only for 24 hours. So it sells in 24 hours.

 

[Suzukiridr14]

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.

It's not that easy, first you have to own it (fully paid for, and in your name) next ,you have to cover your cost of shipping, taxes, etc. then again you will be selling at a time when the 2023's can be ordered at less then you'll be asking for yours. You will need a cash buyer, who will lo-ball you. If you don't want it, let the dealer have if, and save youself a lot of grief.

 

[cavemold]

Make sure you pay for it out right . Get the title as soon as you can . You will be able sell it . Since maverick 23 will take time to build etc

 

[MLowe05]

It's not that easy, first you have to own it (fully paid for, and in your name) next ,you have to cover your cost of shipping, taxes, etc. then again you will be selling at a time when the 2023's can be ordered at less then you'll be asking for yours. You will need a cash buyer, who will lo-ball you. If you don't want it, let the dealer have if, and save youself a lot of grief.

None of this is true.. even in a private sale, you can still sell a vehicle with a lien on it.

In terms of him selling it to Carvana/Carmax or auctioning it to Carmigo, he only has to have it registered in his name. They will take care of paying off the lien and giving him the profit.

Stop trying to scare him into letting a dealer mark it up. If he can afford to finance it, why should the dealer get the profit instead of him?

 

[Suzukiridr14]

You are right about selling a car with a lien on it, I didn't mean to say it can't be flipped, but again, trying to make a profit on the flip, you have to keep your cost as low as possible. Getting a loan will add to the cost of buying the truck. I don't think there's enough money to gain for what's involved by the time it's sold. Just my opinion. Sorry if I offended you.

 

[Bushmaster2000]

Your dealer may let you out of the order i guess these are in pretty good demand they prob can find another buyer. I took mine in weeks later to get the license plates and they said if i don't like it, they'll buy it back from me for what I paid. Granted i don't konw what the situation may be in November. I'm surprised you can't just cancel it, it's not like anythings been built yet. It's just a line item on a computer.

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