Welcome to my series about the world of insurance auction cars. Now you may be wondering "Why would I want to take a chance on a damaged car?" I'll show you why taking a gamble on an auction car pays off and how much fun you can have in the process.
This Jeep is one of the first cars I ever flipped from Copart.com. For those of you not familiar with the best auction site since Ebay, here's a quick rundown. Copart is a worldwide car auction site dealing with everything from slightly used boats to totaled cars and everything in between. They hold daily auctions and provide inspection/shipping services nationwide. It's my go- to website for any car, even before craigslist.
Car Information - 1995 Jeep Grand Cherokee Limited 4x4, 130k Miles, V8, Leather.
Here are the numbers from this flip.
Winning Bid: $720.00
Maintenance and repair -
New Battery : $40.00 (on sale from Costless Auto Parts)
Fluids and Oil Change: $50.0
Body Damage: Very minimal real drivers door scrape
Time of Possession: 4 Days
Notes: After sifting through hundreds of cars I settled on this Jeep with no reserve. It had low mileage, a v8 engine and the limited package with leather seats, so it was a no brainier. My budget was $1000. I won the jeep with a winning bid of $550.00, which came to $760.00 after taxes and fees. The Jeep died when I stopped for gas after I picked it up from the auction lot. We determined it was the battery and once replaced, it started up every time after. Also because of the low battery, the car alarm reset and locked me out of the car. I had to look up YouTube videos describing how bypass the system. Super annoying while dealing with it but after the battery was replaced it was smooth sailing. I drove the truck to work once during heavy traffic on I5 and it ran great. The V8 engine was zippy and it sometimes surprised me with how much low end torque I could feel while accelerating. I sold it to a young guy who has several jeeps, this one was for his sister. Albeit a modest profit I was instantly hooked on this new hobby. Not only did I get to enjoy a sweet SUV for a few days, I learned several nuances about Jeeps in general. Any experience which provides me with new knowledge about cars is a win in my book. Stay tuned for more stories from my car auction come ups.