Can You Make Money Flipping Classic Cars?

We’ve all heard of flipping houses for profit, but can you make money flipping classic cars? We answer that question and much more below!

Yes, But It’s Challenging

Flipping classic cars for profit isn’t as common as the trend of flipping houses may be, but there are plenty of collectors who have been buying and selling vintage rides for practically as long as there have been cars on the road. There are two ways to flip classic cars: buying a classic and holding onto it for years in the hope its value will increase, or buying a car and quickly fixing it up and selling it for profit.

While both options can be lucrative, we’ll focus more on the latter style of flipping classic vehicles. If you’re considering making money flipping classic cars, we’ve got some helpful tips to get you started!

Tips for Flipping Classic Cars

Choose Projects Wisely

Whether you’re flipping houses or classic cars, you must be picky with the projects you take on and invest in. When buying, restoring, and selling classics, you have to consider the initial investment of the sticker price, what level of restoration the car requires, and the potential profit after restoration.

One way to make all the math easier is to work backward by researching recent sales of classic cars. What models are hot commodities right now? Before starting a restoration project and investing a lot of time and money, research what a fully restored model is fetching on the market.

Hunt for Barn Finds

A barn find is an almost mythical term used in the classic car industry to describe old vehicles that are found abandoned in barns and other unlikely storage places. These vehicles may look worthless at first but they are actually hidden gems. Every collector dreams of discovering a barn find that turns out to be priceless. Most people may never find a priceless classic, but many may find something of outstanding value.

Capable collectors always have their eyes and ears open for potential hidden gems scattered in unlikely hiding places, from rundown farms to forgotten storage areas. Hunting for barn finds may not consistently result in collectible classics, but the potential for a great find is always around the corner.

Advertise That You’re Buying

If you want to get into the business of frequently buying and selling classics, you’ll want to grow your network to ensure a steady flow of projects and cars. Consider taking out advertisements in classic car magazines and other auto publications that you’re looking to buy classic cars.

By advertising that you’re a motivated buyer looking for classics, you’ll undoubtedly come across some equally motivated sellers who want to sell their vehicles quickly. Be sure to check local laws about buying and selling, as some states limit how many cars an individual can sell a car privately in a year.