WHEEL DEAL
I bought a luxury Volvo hatchback for £500 to save it from being scrapped for scary issue – I’ll sell it on for £3,000
Find out how cheap the flip was and how much profit he's set to make
A CAR flipper has revealed how he saved a £500 Volvo hatchback from the scrap, serviced it, and listed it for almost £3,000.
Matt Goodwin of High Peak Autos in Romiley, Greater Manchester, catalogued his journey to fix the unloved vehicle.
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The 2007 dark blue Volvo C30 had been in line for the scrap before a viewer of Matt's YouTube channel reached out to him about the car.
Matt then swooped in to nab the car at the eye-watering price of just £500 before he set about getting it fixed.
The exterior of the three-door car was in good nick with the only noticeable mark in the interior being a slightly damaged driver's seat.
The 2.4L petrol automatic had done 91,787 miles at purchase and features a glass boot hood.
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For why it was sold so cheaply, some viewers reckoned the previous owner was unnecessarily fearful over the engine warning light.
But Matt revealed that the potentially terrifying warning light was only active due to a faulty O2 sensor which could easily be fixed.
Another issue with the vehicle, a strange sensation on the brakes, could only be solved by taking the hatchback to a Volvo specialist, however.
There they revealed that the car's brake module was ";fried completely" and had to be replaced.
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The car flipper was very fond of the "rare" vehicle, and described it as "nice and small, easy to place, [and] easy to park".
After the repairs, the car gained its 12 month MOT with no advisory items.
Much-loved motor left abandoned for five years restored to its former glory
The total cost for the vehicle and its repairs came out to £1468.20.
This could be split down into:
- £500 for the car
- £120 for its transport from Leicestershire
- £217 for repairs with Matt's mechanic
- £120 for seat repair
- £150 for valet and tint removal
- £346.20 for brake repair
- £15 for new number plates
Matt listed the vehicle for £2995 towards the end of summer and given it is no longer listed on , we can assume it was sold.
If it sold for its asking price, that gives Matt a hefty profit of £1526.80, more than three times the price he paid for the car.
Profit by flipping a car on Facebook Marketplace
A MOTORING expert made more than £1,400 profit by flipping a car on Facebook Marketplace - and it only took him a few days.
Ryan took to social media to show his followers how a little time spent searching online and some straightforward repairs made him a tidy sum.
TikTok user @ryans_salvage reckons he's made up to £15k flipping cars in the last year, with some savvy buying and selling on Facebook Marketplace, as well as pulling in favours from mechanic friends who carry out the work at 'mates rates'.
This time around, Ryan bought a Vauxhall for £2,000 on Facebook Marketplace, but did have to pay out £33 in tax and £42 in insurance.
He said: "I also put £25 of petrol in the tank, all the tyres were bald, but luckily there were some spares in the garage so cost me nothing to replace them."
Days later, the poster took his second-hand car for an MOT, which cost him £40.
He also paid £23 for an oil filter change and got the front bumper resprayed for £100.
He continued: "I got two track rod ends for just £15 and tracking was only £25."
After all the repairs, the TikTok user gave the second-hand car a good clean and listed it on Facebook for £4,495.
But he ended up selling it for £3,800 a couple of weeks later and made a healthy profit of £1,456.
The video has gone viral on TikTok with more than 96,000 visits - and most commenters were blown away after discovering the profit he made.
One said: "How did you get the car for £2,000 in the first place?!"
He answered: "Because it had no MOT and it needed a bit of work."
Another said: "Nice job, bro."
A third pointed out: "Amazing deal for the car."
This comes after a man made more than £1,300 profit flipping a car on Facebook Marketplace - and he doesn't even have a driving licence.
Plus, a TikTok user who bought a second-hand BMW revealed how he doubled his money selling it on.
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