Buying Volvos at wholesale auction for rehab or parts

[FireFox31]

Could we benefit or profit from buying Volvos at wholesale auction to be rehabilitated for use or stripped for parts? Since I'm charged with rehabilitating the 350k mi V70 Geronimo with its vast amounts of problems, a $500 auction car could be a better starting point for a rehab. The high price and low availability of certain parts makes me see a lot of value in stripping a $500 auction car. But are the costs and risks of an auction purchase too high?

Since "fortune favors the prepared," can anyone share their experience with how to evaluate, bid, pay for, and take possession of a car from a wholesale auction like Capitol Auto Auctions. When buying for rehab, how can we evaluate the car for its potential rehab cost? After stripping a car, how can we minimizing the expense towing away its shell which may have no wheels, transmission, etc?

Thanks for your insights.

[scot850]

If a car runs and moves it is probably worth $3-500. But then expect $2000 or so to bring it up to reliable condition with a Stage 0.

The one advantage is if you can get it from a more southern state it ma have less rust on all the mechanicals making it easier to work on.

Neil.

[volvolugnut]

I have long tried to have 'spare parts cars' available for my fleet of Volvos and Mercedes. These have been purchased from word of mouth, Craig's List, salvage yards and spotted while driving around. I have never purchased one at auction, so I can't say how that would work.
Most of these cars were not running and I had to get them with a truck and trailer. This is hard work! BUT, If they are not running, they are much cheaper. I have purchased with the intent of using for parts mostly. Only two were rescued for driving. If they most be moved by trailer, it only makes sense if they are close to home. In my case this was limited to about 100 miles away.

Hauling off the shell is likely another trailer job, unless you can keep a pair of wheels on the ground. Again you need a place close to reduce travel time and money. An agreeable recycler may let you remove the wheels and tires after you get to his yard. Last time I did this I got about $70 for a Toyota car.

volvolugnut

[abscate]

I have a scrap yard on a rail line here in Albany and I get 250- 300 for a Shell with no wheels

[scot850]

Didn't realise you lived by a rail line.............!

Neil.

[FireFox31]

Do you leave the catalytic converter on when scrapping the car? Could you get more for it on or off the car? Seems like this is a big part of the scrap car's value.

[volvolugnut]

Further thoughts on the salvage of used cars:
The cars must be popular to get value from the parts.
Distances to obtain and sell the heavy stuff must be short.
You need have ready access to cash and means to move the cars and parts.
You need to have time to get the cars, salvage the parts, resell the good stuff, and dispose of the waste stuff.
You need room outdoors to store cars where no one will complain.
You need room inside to store the stuff that will be damaged by the weather until you can sell.
Cat converters and electronics are likely to be a good portion of the value. They are also small in size and weight. Radiators used to be good for salvage when they were copper or brass.
volvolugnut

[abscate]

Do you leave the catalytic converter on when scrapping the car? Could you get more for it on or off the car? Seems like this is a big part of the scrap car's value.

I remove entire Volvo exhaust sytems. Its rare when at least some parts arent useable either for sale or for FDPP.

[FireFox31]

The cars must be popular to get value from the parts.

I see the alternative: The cars must have a fanatical user base which keeps them in service for far too long. Official parts will be discontinued and the aftermarket might not care to make them or only sell junk parts. That leaves used parts sellers.

Earlier this year, I called Eerie Vovo in NY asking for a P80 sunroof. They said they don't have parts that old. With them gone, that leaves an opening for other people to supply authentic Volvo parts to the remaining users.

With P80 Volvos still at auction and junkyards, and official new parts starting to discontinue, now seems like a good time to stock up.

[volvolugnut]

The cars must be popular to get value from the parts.

I see the alternative: The cars must have a fanatical user base which keeps them in service for far too long.

I agree. I just don't think it would be a financial success if that was your goal.
30 years ago a friend and I had a lot of fun finding Ford cars from the 30's and 40's and selling parts. This was before the internet and sales were at area car swap meets. We had trucks, trailers, tools, and space to store things. We still have some of the left overs.
I encourage you to gather Volvo parts.
volvolugnut