Hey guys! Well here we go. All repairs are done and the car is ready to be plated.
I’m just missing the fog lights, but I will take care of that later. I’ll either get a set from the scrapyard, or I will just get the covers to cover the holes.
The quarter panel has been primed and painted and it came out really good and all body pieces were put back together.
Luckily, the existing bumper and fender were in repairable condition.
A new headlight was built from two headlights. We used the housing and the xenon ballast from the old headlight.
Also, the dent on the wheel was fixed and the car is back on its original 17” rims.
I’m just missing the fog lights, but I will take care of that later. I’ll either get a set from the scrapyard, or I will just get the covers to cover the holes.
The quarter panel has been primed and painted and it came out really good and all body pieces were put back together.
Luckily, the existing bumper and fender were in repairable condition.
A new headlight was built from two headlights. We used the housing and the xenon ballast from the old headlight.
Also, the dent on the wheel was fixed and the car is back on its original 17” rims.
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| Headlight fixed and back in place |
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| Old disassembled headlight |
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| Quarter panel ready to be painted |
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| Car is ready! |
My Cost Breakdown
Car – $5,000 (including auction fees and taxes)Quarter panel repair - $700
Headlight - $100
A/C Condenser - $40
Wheel Repair - $120
Fender, Bumper, and scratches - $300
Fender Inner Liners - $120
Bumper Bracket - $20
Oil Change - $50
The total cost of the car came up to $6,450. Cars this age, in this class, go for around $10,000. So I think it was a pretty good deal. And the mileage is very low too, only 113,000 km. Let me know what you think of this deal? Would you do a similar project, or you would prefer to buy a car in clean condition?
Have you thought about flipping it, and buy another car doing the same? It seems to be, that you had fun doing it, and that's important. A little cash on side doesn't hurt either.
ReplyDeleteHi Mikael, I'll drive this car for a year and then flip it. I will probably get a bit more for the car even in a year from now. My goal is to keep my initial capital from one car to another. Otherwise my money will depreciate with the car.
ReplyDeleteNice German
ReplyDeleteSeems like you did really well on the buy. Congrats.
Enjoy the wheels! zoom zoom
Hi German - inspired by your new car, I have made a blog post about my recent calculations regarding buying a new car and having dividend stocks paying the car loan: https://www.europeandividend.com/buy-toyota-stock-and-get-a-free-car/
ReplyDeleteInteresting... I'll check it out.
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