buying a cruncher to resell ?

[charger_fan_4ever]

Whats your thoughts/experience on this ?

I'm pondering picking up a accidented 4x4 diesel truck(dodge or course) to resell. Have access to good part prices and labour rates.

I mean bank isnt giving any return and stocks left a bad taste in my mouth.

Anyone tried it ?

Just sold the second diesel dodge last night. I can say I have never lost $$ on a dodge diesel truck. Usually drive it for a couple years and when i sell i have actually made a couple bucks after repairs and all.

First ford diesel took a 2k hit in a year.

[areibel]

If you can do the work, go for it!  I had a friend that did that, he would buy soft hits and rebuild them. 
It was a way to justify lots of cool tools for his shop and write them off!  The only thing he would watch was which ones had Reconstructed titles, if he did one of those he'd take lots of pics to show buyers that it wasn't really a total, just the insurance company didn't want to fix it. 
I remember two he did, one was an S-10 pickup that had gotten shot up (jealous ex), the sheet metal damage was minimal but they had hit the wiring harness and computer.  He bought another wreck with a good harness and swapped it in.
The other was a nice conversion van.  It looked perfect on the outside, but the owner had hit a deer and it came through the windshield.  Took out the glass, the owner pulled over and got out but the deer wasn't dead!  I thrashed around inside, the interior in back was all blood and deer doo doo.  Insurance company didn't total it, but the owner didn't want it back- he didn't think you'd ever get the smell out.  He made some nice money on that one!

[Silver R/T]

Cummins trucks hold their value like gold lol, you can't lose out on one.

[Troy]

Cummins trucks hold their value like gold lol, you can't lose out on one.

I lost about $10k on mine.

Troy

[charger_fan_4ever]

Ones I sold were all 94-98 12 Valves.

Didnt make huge money on them, but I did run them for 2 years each and still gained on the sale.

I'm just thinking outloud as here were i live you have to have something somewhat unique as there isnt a lot of buyers. Always seems to be someone looking for a solid 4x4 cummins.


Was also thinking about buying a flatbed trailer and try my shot at transport. Weekend or afterwork.
Was planning on tryin some snow removal as i have a plow for my own driveway but opps no more winter up here. Just cold and ice.

Nothing in stone just looking at options.

Thought about getting a mini excavator but everyone has one, so i can't see the return on investment unless i was licensed to do say septic systems $$$$$.

[Troy]

I was specifically answering the part I quoted. I don't doubt that you could make some money. You just have to make good buying decisions (and it sounds like you already have an idea about that). The only thing you'll have to watch is that those trucks are getting older and prices are getting lower but the parts are going down as fast. Eventually you'll have a hard time breaking even. I have friends who do rebuilds and all the ones who are successful at it pick a specific model (like you have) and stick with it.

I think the transport might be hard. There is a lot of competition and a lot of undercutting prices. Guys I know who make a decent living usually are hauling trailers (Indiana is the trailer manufacturing capital of the world). They have set routes and fairly static rates/pay. If you try to haul cars you end up bidding jobs through a broker and, as we all know, people are cheap so you pretty much have to bid at cost and hope nothing unexpected comes up. Along those lines... run an ad on Craigslist for moving RVs.

I think having some equipment around could come in handy - but only if you already have a use for it (ie you would buy it any way). I know contractors/construction companies around here will "loan out" equipment over the weekends and whenever it's not needed for a job to offset costs. I doubt it makes up for the purchase price though. I have recently been looking at Tig welders and a lot of guys recommend picking up side jobs to justify the purchase price (even if you aren't a pro). I've heard the same about powder coating equipment. You buy it for your car(s) but if you can bring in some money on the side it definitely helps.

Troy

[charger_fan_4ever]

I was specifically answering the part I quoted. I don't doubt that you could make some money. You just have to make good buying decisions (and it sounds like you already have an idea about that). The only thing you'll have to watch is that those trucks are getting older and prices are getting lower but the parts are going down as fast. Eventually you'll have a hard time breaking even. I have friends who do rebuilds and all the ones who are successful at it pick a specific model (like you have) and stick with it.

I think the transport might be hard. There is a lot of competition and a lot of undercutting prices. Guys I know who make a decent living usually are hauling trailers (Indiana is the trailer manufacturing capital of the world). They have set routes and fairly static rates/pay. If you try to haul cars you end up bidding jobs through a broker and, as we all know, people are cheap so you pretty much have to bid at cost and hope nothing unexpected comes up. Along those lines... run an ad on Craigslist for moving RVs.

I think having some equipment around could come in handy - but only if you already have a use for it (ie you would buy it any way). I know contractors/construction companies around here will "loan out" equipment over the weekends and whenever it's not needed for a job to offset costs. I doubt it makes up for the purchase price though. I have recently been looking at Tig welders and a lot of guys recommend picking up side jobs to justify the purchase price (even if you aren't a pro). I've heard the same about powder coating equipment. You buy it for your car(s) but if you can bring in some money on the side it definitely helps.

Troy

No doubt on the loss.

I hear you on the prices. Here is an ad from a dealer here in quebec. He sells high mileage trucks some are accidents and some not. He buys all at auction. Hard to buy a cruncher and fix it for profit when he is selling a 2007 3500 mega cab 4x4 diesel 6 speed  for $13,900

http://www.lespac.com/vehicules/camions/st-eustache/d-2007-dodge-ram-3500-hd-mega-cab-diesel-5-9l-cummins-4x4-6-vit-LPaZZ26999090WWcpZZ27WWgrZZ12

[mauve66]

nothing that sweet around here that's for sure

of course part of the problem for the buyer is insurance, if its a rebuild they will only cover part value, so they can't usually get a loan

[charger_fan_4ever]

nothing that sweet around here that's for sure

of course part of the problem for the buyer is insurance, if its a rebuild they will only cover part value, so they can't usually get a loan

Good point. I will have to check into that.
The socialist province we live in I don't think it applies for insurance purposes as my 01 2500 is a rebuilt title and got in insured no problem.

The loan idea is something i'm not sure on.

[mauve66]

did you get full coverage on it??  AAA wpould give me full coverage on a wrecked srt10 ram but only for half the book value, see what i mean?  make sure your insurance will FULLY replace it if something happens

[charger_fan_4ever]

did you get full coverage on it??  AAA wpould give me full coverage on a wrecked srt10 ram but only for half the book value, see what i mean?  make sure your insurance will FULLY replace it if something happens

I have everything except collision. I figure if its my fault I'll fix it.

They apparently value it according to what you paid for it.

Could very well be a different story IF it got stolen.