Summary
Highlights
Finding the Deal00:00:09
Buddy discovers a listing for a damaged 2016 Jeep Wrangler on the Swoopa app for $9,000, significantly under its market value of around $16,500. Despite the visible damage, he decides to investigate further.
Assessing the Damage00:01:25
The Jeep has a damaged hood, cracked windshield, missing side mirror, and a dented bumper. The seller's description is vague, but Buddy decides to inspect it in person, using an OBD reader to check for mechanical issues.
Inspecting the Jeep00:07:15
Upon inspection, Buddy finds additional issues like a sliced soft top, smashed tail light, and a damaged door strap. The interior is dirty but salvageable. A check engine light reveals a misfire in cylinder 2, likely due to a cheap coil.
Negotiation and Purchase00:10:17
Buddy attempts to negotiate a lower price due to the undisclosed issues but is unsuccessful. He buys the Jeep for the original asking price of $9,000.
Repairs and Restoration00:12:16
Buddy begins repairs by addressing the misfire with a new coil and spark plug. He replaces the damaged hood with a junkyard find and installs new hood latches. He also replaces the soft top, windshield, tail lights, and fixes the driver side door strap.
Detailing and Final Touches00:24:54
Buddy details the interior, cleaning the carpets and seats, and replacing the floor mats. He also repairs a dent in the body panel. The exterior receives a wash and the dent on the front bumper is repaired.
Listing and Sale00:29:00
Buddy lists the restored Jeep for $15,500, its book value. After only 3 days, he sells it for $15,000 in cash.
Profit and Labor Analysis00:29:56
The total investment in the Jeep was $10,445, resulting in a profit of $4,565. With approximately 20 hours of labor, Buddy earned an hourly rate of $228.