Summary
Highlights
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.
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.
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.
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.
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.
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.
Buddy lists the restored Jeep for $15,500, its book value. After only 3 days, he sells it for $15,000 in cash.
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.