A new article by Reclaimed Aesthetics has revealed how much it takes to rework a vehicle and earn a profit.
The article states that an average vehicle will need to be re-painted every three years to earn a minimum of $1,300.
The exact amount of the profit varies by vehicle, but a vehicle that has only been painted once would require $3,000 to $4,000 in re-work.
A vehicle that’s only been fully painted twice will require $5,000 and a vehicle with three or more coats of paint will require between $8,000-$12,000.
The average cost of re-painting a vehicle is $2,000 per vehicle, and re-selling a vehicle will require about $2.5 million in total.
For comparison, the average cost to repair a vehicle would cost $2 million.
However, a vehicle may only need to have a minimum coat of paint once in order for it to earn the same profit.
The article states, “When you consider that re-purposing a vehicle costs around $3.5M, you have to wonder what happens when you buy an existing vehicle.
Are you buying the vehicle for $2M or $3M?
Or are you buying a used vehicle with no maintenance?
The answer is, of course, ‘yes’.”
If you’re thinking about selling your vehicle and are interested in finding out how much money you need in order, check out this article from Reclaimed which states that a $1 million loan is the minimum needed to make a profit, but you will have to pay interest on the loan for at least a year after you make the purchase.