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Thread: Flip a Mirage?

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    Flip a Mirage?

    This past weekend when I took my son off-road riding, he had a guy offer him $600 more for his CRF 85R than we bought it for. So my son wound up selling it to him because he is getting too big for it, and it did have a few hundred $'s worth of repairs needed (brakes mainly). That has put my son all in the "flip vehicles" mindset.

    I got to looking. There's a nice looking 14 Mirage I could buy for about $3,500. Assuming it was in good shape and didn't need much, I believe I could sell it for $5,500 or more. Those of you that have done this a few times, let me ask you a couple questions:

    • Is it worth trying?
    • How would you feel if you went to buy a Mirage private party and the seller had the title signed over by the previous seller but hadn't transferred it to his name?

    I don't want to transfer it to my name, in order to avoid the ridiculous sales taxes.


        __________________________________________

        click to view fuel log View my fuel log 2020 Mirage ES 1.2 manual: 42.4 mpg (US) ... 18.0 km/L ... 5.6 L/100 km ... 50.9 mpg (Imp)


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    Senior Member Dirk Diggler's Avatar
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    Quote Originally Posted by 7milesout View Post
    This past weekend when I took my son off-road riding, he had a guy offer him $600 more for his CRF 85R than we bought it for. So my son wound up selling it to him because he is getting too big for it, and it did have a few hundred $'s worth of repairs needed (brakes mainly). That has put my son all in the "flip vehicles" mindset.

    I got to looking. There's a nice looking 14 Mirage I could buy for about $3,500. Assuming it was in good shape and didn't need much, I believe I could sell it for $5,500 or more. Those of you that have done this a few times, let me ask you a couple questions:

    • Is it worth trying?
    • How would you feel if you went to buy a Mirage private party and the seller had the title signed over by the previous seller but hadn't transferred it to his name?

    I don't want to transfer it to my name, in order to avoid the ridiculous sales taxes.
    I'd feel totally comfortable and secure buying a used Mirage from you and Fummins because I know you'd put a solid product out there with you knowledge of these vehicles. That 7% sales tax in unavoidable though but it would be lower than most cars considering the depreciation we have with Mirages.

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    Senior Member Dodge Aries K's Avatar
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    I've had a few that I sold but I sold pretty much all of mine to the local Lexus dealer so I didn't have to deal with idiot people. A little less money that way but no idiot people beating up my car while it's still mine was pretty nice.
    -Karl B. No Mirages currently...

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    Karl - I seem to have decent luck. I've only dealt with minimally idiotic people. I won't let anyone beat on my cars. I'm so ... OCD, I'll probably have it running like a top before I would attempt to sell it, and lose profit. But oh well, I wouldn't want to sell a turd to an unsuspecting victim.

        __________________________________________

        click to view fuel log View my fuel log 2020 Mirage ES 1.2 manual: 42.4 mpg (US) ... 18.0 km/L ... 5.6 L/100 km ... 50.9 mpg (Imp)


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    Is it worth trying?
    For me, only if you can find a super cheap mirage (that's still in decent shape in and out) and you can double your money back.


    How would you feel if you went to buy a Mirage private party and the seller had the title signed over by the previous seller but hadn't transferred it to his name?
    In my experience, this is too much of a hassle, especially here in Minnesota. Our DMV system is slower than a Mirage at the junkyard. Also, I've had bad experience 'trying' to purchase a car from someone but they didn't have the title from the previous owner. For me, this is a red flag but this is just my experience in my city/state.

    IF I knew a close friend that was doing this, I'd be okay with it. But a total stranger, I would immediately decline.

        __________________________________________

        click to view fuel log View my fuel log 2015 Mirage DE 1.2 manual: 43.4 mpg (US) ... 18.5 km/L ... 5.4 L/100 km ... 52.2 mpg (Imp)


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    2of9 - I may as well (decline). But understand though, I would FOR SURE have the title (clean / clear) from the selling party to provide to the buying party (or I would walk away). That selling party to have signed the title over, but me as the (temporary) buyer I would not sign it. And I would make a bill of sale showing the seller sells it as-is.

    I could also either not sign the bill of sale, or I could sign the bill of sale, and redo the bill of sale to remove my name. Then, when the next party comes to buy the car, I have them sign the title and the bill of sale from the original seller (not me) and have them take that to the DMV here. The DMV would run that all day without a question.

    I've done worse. Not in committing a crime, but for the sake of convenience (for myself). No parties harmed, no governments lost revenue.

        __________________________________________

        click to view fuel log View my fuel log 2020 Mirage ES 1.2 manual: 42.4 mpg (US) ... 18.0 km/L ... 5.6 L/100 km ... 50.9 mpg (Imp)


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    Senior Member Dirk Diggler's Avatar
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    Quote Originally Posted by 7milesout View Post
    2of9 - I may as well (decline). But understand though, I would FOR SURE have the title (clean / clear) from the selling party to provide to the buying party (or I would walk away). That selling party to have signed the title over, but me as the (temporary) buyer I would not sign it. And I would make a bill of sale showing the seller sells it as-is.

    I could also either not sign the bill of sale, or I could sign the bill of sale, and redo the bill of sale to remove my name. Then, when the next party comes to buy the car, I have them sign the title and the bill of sale from the original seller (not me) and have them take that to the DMV here. The DMV would run that all day without a question.

    I've done worse. Not in committing a crime, but for the sake of convenience (for myself). No parties harmed, no governments lost revenue.
    Let me know when your selling. I know you take great care of your cars. Let me know if you get your hands on a CVT Mirage in good shape, I'm looking to get at least a 2017, for the better seats.

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    It is older, and it is a manual transmission. Gonna try to check it out today.


        __________________________________________

        click to view fuel log View my fuel log 2020 Mirage ES 1.2 manual: 42.4 mpg (US) ... 18.0 km/L ... 5.6 L/100 km ... 50.9 mpg (Imp)


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