Neighbor has a 2006 Civic with only 62k on it. It got hit, needs a fender and hood and light and parts underneath. Airbags never went off, runs and drives fine. Insurance is totaling it and giving him $9.5k.
I have the option of buying it from him for whatever the insurance says the salvage value is. Some sites quote as little as 10% of market, so about $1000. He does not care, as long as he gets the $9.5k total. Looks like the fix is mostly bolt on parts, but it will be branded as salvage title. Still, low mileage, one owner, gas sipping car, should not be that big of a deal to flip it. Still, is it worth the hassle for what is probably $2-3k in profit?
I have the option of buying it from him for whatever the insurance says the salvage value is. Some sites quote as little as 10% of market, so about $1000. He does not care, as long as he gets the $9.5k total. Looks like the fix is mostly bolt on parts, but it will be branded as salvage title. Still, low mileage, one owner, gas sipping car, should not be that big of a deal to flip it. Still, is it worth the hassle for what is probably $2-3k in profit?
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