New to MR2's

[I--RIDE--BIKES]

So I have a chance to pick up a 94 mr2 turbo with HKS bov, some exhaust, new clutch and ball joints, 99 000 miles for $6000 canadian safetied. My plan is to buy it, do some work to it and sell it in a year or two for a profit.


Does this sound like a good deal to you experienced people out there?
Advice/comments?

Thanks for the help!

[TheEngineer]

sounds like a good deal to me. I dont know what the market is like in Canada though. Im sure its alittle different then here in the US.

[moogleX]

"mods" dont really add much to the price. If your looking to buy one fix it up and sell it for profit you would be better off finding one thats not in good condition for a lot cheaper. putting in the wrench time and then selling it.

[mr2tim]

Buying a 16 year old car for $6K?

Just what kind of value can you add to this car to turn your profit?

(No offense but, Canadian ideas are often entertaining for me lately.)

[Phinn]

us mr2 guys are a strange lot. There seem to be 2 types of MRs that have value. 1 is an either low mileage or well maintained/restored original with as many factory options as possible like supercharged MKIs and early year MkIIs (these take time to sell but usually sell to someone that knows what they want.

secondly if its a modded car, the mods have to be the "right" parts. And done cleanly and properly tuned and documented. NO one wants to buy someone's project.

As far as "fixing up for proffit" 6k doesnt give you a lot of room to make money. Common problems with your MKii include turbos (4 grand if you go with toyota parts new) If your trying to make a POS cosmetically sound for a markup then a 2-6 grand paint job/body work puts you over market value for the car if it has any mechanical issues at all. These are not cheep to fix when things go wrong and you want a Toyota dealer to do all the work. Things like timing belts, alternators, transmit ion work are all labor intensive just because of where parts are located.

ALL that being said, if your 1994 is clean and its records sound, and the maintenance schedule is up to date, and it doesn't need anything pricey other then some minor work, you could turn a profit on it for sure without worrying about selling a lemon to someone.

My advice, if your buying to sell, dont unless you have a buyer lined up. If your buying to use then sell, buy yourself a good well kept SC'd Mk1 or 91 or 94 MkII turbo and enjoy it then sell it at or around what you bought it for. Either way, your 2-5k deal that "Just needs paint" could need a LOT more, and if it does your profit will disappear fast. Believe me too that most of us that drive these things know what to look for and wont be fooled by a pretty paint job and tinted windows.

Pete