Teen buys car off Facebook marketplace for £400 and sells it for £1200
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Cars are not known for being particularly good investments, however one man bought a vehicle off Facebook marketplace for £400 and managed to sell it for £1,200.
However, one car buyer managed to scoop a pretty impressive profit after parting with his cash to buy a bright red Vauxhall Corsa, before selling it for almost a grand more than what he paid for it.
First, the car flipper found the car - which is in the Sxi spec - on Facebook marketplace.
It was in a pretty good condition and appeared to not be something you’d expect to find the dad in Matilda selling.
After purchasing the car for just £400, the teen arranged for it to have an MOT which it failed. However, after getting some new bulbs and a new shock absorber and wiper blades, it was ready for the road.
After spending an additional £100 on the repairs and giving it a good wash, Sean managed to sell it for £1,200, which left him with £700 profit in just a few days.
Seriously, get him on The Apprentice.
Sean is a car flipper who uses social media to share posts about the cars he sells. In the past he has sold well-known models like a Volkswagen Golf and an Audi A3.
Some viewers raised their concerns in the comments after watching the TikTok.
One asked: "Sorry to ask probs the most common questions, but how do you do this without trade insurance etc. and buying and selling without being a trader?"
Sean replied: "I’m 19, so I can’t get Trade insurance. I use Veygo. I usually insure the cars I buy for three days for roughly £40. This gives me enough time to prepare for the sale."
Another commenter said: "That's not 700 profit then, both mot bookings, the 100 for any issues, insurance for a few days, 500 profit maximum."
However, Sean claimed: "One MOT booking at trade price £35 free retest, few bulbs £5, wipers £10, shock absorber £35 insurance £12 day."