Whats your thoughts on my dilemma.?

[sean19]

Im after your thoughts on my dilema!

A friend of mine has a 306 XSi 2.0 16v S-reg 102,000 miles on the clock.

He's selling it for £350 as it's an MOT failure with no tax. I am considering buying it and getting the following work done to bring it up to MOT standard:-

1) fronts seatbelts affected by loose seat fixing (not to sure)
2) CV joint requires boot as current is loose.
3) Rear brake pipes corroded
4) Centre exhaust requires replacement
5) Rear discs are warped req' replacement.

Also new MOT £35 and tax £99 (6 months)

I was considering buying it and selling it hopefully at a profit, however I am thinking about getting the work done and selling my car (Saxo VTR worth bout £1800)

Is the list too extensive or worth a go. I have a mate that reckons he could do the work for about £300-400max depending on seat belt issue (inc parts). The timing belt went 5K ago so had the head skimmed, new valves and service is this good or bad?

Sorry for the long post and Thanks!

[sean19]

Well I have always wanted to dabble in cars such as this as a hobby with a small profit, and its simply good timing that I have come into cash and my mate has such a car.

Well I have bought it now, been estimated £300 for the work so that £650. So anything above this (ish) will be profit. Hopefully I can then use this to buy another car and do the same!

Thanks for your replies.

[sean19]

pablo said:

i would have thought that with 12 months MOT and a noice clean up the 306 should easily make you a profit. would be interesting to see what your next car is, you could go for a cheap classic, limited market or another regular car and try your hand. its something i would love to do if i had the time.

i think the boy racer market could be tapped into quite easily, the reasonably hot corsas and the like, if you can find a standard one so they can "modify" it could be quite profitable. of course you have to question your desire to trade with such cars and people! but if you are finance focused, does it matter?!?

keep us posted!!

Well I am keen on keeping the cars mainstream (ford/peugeot) etc as parts and labour are cheaper. I think I want a 205 GTi after this. There always seems to be people on the look for clean models, and I have a good friend of mine that works in Peugeot and could do work to them fairly cheaply.

Always LOVED the 205 GTi (especially the 1.9) so may be tempted to keep it if I ever lay my hands on one!

Well wish me luck! Thanks!