Hi - just wanted to see if anyone had tried this.
I live in the a very, very expensive mountain town, with lots of young people in the service industry making good money. Think Aspen, Jackson or Breckenridge. The used car prices here for popular 4wd or AWD vehicles are crazy, or at least they seem crazy to me. A 2002 Toyota Tacoma with 170K miles is priced at $13,500. Four runners, outbacks, RAV 4s, imprezas, and CRVs all seem to consistently price for $1500 to $3000 more than they do in a city on Craigslist. Of course, I don't know if they're selling the vehicles for what they list at.
My thinking is to buy a vehicle in a city 1000 miles away and drive it back to sell. Has anyone on the forum successfully arbitraged the used car market? I don't mean stumble upon a good deal and flip a car; I mean research markets and buy a car as an investment.
If you have, I'd love to hear your story, and any tips. Feel free to PM if you're more comfortable with that.