Is it wrong to make profit from a friend??

I guess one of my concerns would be about another profit venture.... Give him a bone,and you might have another car he doesn't want next summer....

 

I was not going to reply on this topic. Money and freinds are a touchy subject. However while scolling down to the links below I seen this. Very much in the line of what I was thinking. If Mazooma talks, listen, cuz he's a good man in my book.

 

When did we become Socialists?? Fix it up, sell it, make a profit. The American way!

 

My rule is if you want to keep a friend, never buy or sell a car from them. I broke it once. Had an O/T sportscar that I needed to get rid of. Said I'd sell it at a cheap price if the buyer promised to never bug me again about it. Done deal and we were both happy. My guidance is deal with it in such a way that if you see him coming your way on the sidewalk you don't cross to the other side of the street to avoid him.

 

I had a 70K original mile, second owner '65 300-L with the numbers matching 360 horse 413, buckets, console, dual exhaust, running and driving car with pretty nice interior but needing a repaint and I got $3300 for it. This Newport will have to be amazingly nice to get that kind of money.

As far as the car goes, just straight up ask the guy how he'd feel if you fixed up this car and then sold it for a profit next year. If he's cool with it, you've got nothing to worry about, and if not, work something out now. It's crazy to me to ask 100 other people on the internet what their opinions are when the only opinion that matters is the seller.

 

If he set the price at $800.00 and you stepped up and paid him I don't see anything wrong flipping it after you spend your time upgrading it. I got pisses when I workerd on a car for a "friend" undercharged him for my time, knowledge, and materials. He made stupid money on the car when he later sold it. It may take you forever to unload the car, so I wouldn't spend time wondering about hoe someone else will feel until it is long gone.

 

ok what i say is this its ok to make a profit...but to knowingly(sp) rip off a friend as you say then theres something wrong with that....obviously your concience is getting to you if you posted on here i think the fair thing to do is to sell it like you said and give him a quarter of the profit and hey maybe get him into cars but i was raised in the country and screwing neighbors and friends is highly frowned upon..

 

It isn't like you begged him to sell it to you.

As the saying goes: Ya gotta screw your friends 'cause your enemies won't let you get close enough.

 

I had a friend stop by and ask if I had any work for him to do. They were about to cut his power off and he owed them $235. I had a 40 Deluxe dash that needed media blasted, so I gave that to him to do to help him out. He brought it back a couple days later. You guessed it, he charged me $235. I cringed and paid him cash and never offered to help him again.

 

Talk is cheap. Maybe you should wait and see just how MUCH money you really get from an old mopar. Maybe your friend got the best deal.

 

you wouldn't have asked if you wasn't conflicted. you know what's right for you and your situation. good luck on your build and enjoy the ride.....

 

I charge friends extra.

 

I had a friend ask me if I could repair and paint the door on his OT pick-up, as well as repair and paint the tonneau on the same vehicle {color change}

Seems he had picked up another truck of the same year, locked up motor, just to get the tonneau. Picked it up for a song...

He got curious, put in a battery, CLANK! got more curious, cut the serpentine belt, THE MOTOR SPUN! Seized alternator. Didnt run though. Checked fuel pressure - none - ran a jumper line from fuel rail to fuel rail, fired right up!

He wanted the paint work done in trade for the truck needing a battery, alternator and fuel pump. I told him he should hire me to fix up his truck and fix the other truck, then sell the extra truck and cash in.

He told me he knew full well what the truck could bring, all he wanted was the work he needed done with no cash out of his pocket.

I bitched at him when I discovered I needed to top off the power steering fluid! {LOL}

I'm evening the score a bit by taking care of painting his motorcycle.

 

Yes says OBAMA

 

Idle down there 73 mustang guy!!

 

I have a very good friend we laid down the rules years ago. I sell it to you and it's yours to do what ever you want with. We have both made money off each others car,trucks,parts with no hard feeling.

 

I think this an interesting thread, BUT has no real point. Why? I really doubt there is a big profit in a 65 Newport. 65 Satellite? Sure! Newport not so much...

For the record I do it how "temper mental" does. I sell it to a friend, it's his.

 

An old business man told me one time if you can't make money off your friends who are you going to make money from? Your enemies aren't going to come around.
V/8

 

Wow. What a turd. THAT'S bullshit.

 

"Hey get a shot of me and my mustache next to the Mustang!"

 

only if the one making the profit lies to do so.

 

I sell my friends shit for cheap, if they keep it for a few weeks and sell it hell i dont even notice let alone care, i got what i wanted out of it while helping a friend. Once its thiers its thiers, however....

Making 5 grand extra is alot and though id be a little floored i dont think id be mad, Like some others said: Take him out for dinner and some beer, tell him you got it runnin, cleaned it up a bit and sold it. "Made some money off of it but it wasnt possible without you." Friend got the money when he wanted it, you put time and money into it and had fun with it and then he still gets some benefits once you sold whats yours.

MOST IMPORTANTLY: I'll end it with this, if a friend got mad over me about that sort of a deal, id be wondering what kind of greedy friend i had....

 

As others have said, split the profits with him. Seems like bad karma to do it any other way. Good friends are more important than $$$.

 

An 82 year old man insisted that I give him $1800 for a car I was not interested in, a 1926 Dodge Brothers woody, new paint new wood, running driving car.
My best friend wanted it bad, so I sold it to him for $9000.
He sold it for $11,500.
All three of us are happy

 

This really turned out to be a long thread in hot rod philosophy but I got it figured out. Selling it after I fix it up and cruise it for the summer and throwing some beers and dinner his way...he's happy to sell it for asking price, I'm happy to cruise for the summer and the next guy will be happy to have a cool ride for a good price. Thanks for the insight guys, it actually helped, although some made me feel like a real shit bag most of it was good...shit now I can sleep!

 

Yeah, it would be wrong. Share the wealth..that's what friends do.

Greed is instant and for the moment but Karma is forever...what comes around goes around.

 

did that years ago - will never forget the look in his eyes...

 

Ive been in the same situation...My friend had a 55 Ford Fairlane more door, he was desperate to sell cuz he was having a kid and his chick wanted to move out. He ended up getting impatient selling it to me for $900! i ended up shaving it all, lowering it and shooting it all one color and sold it for 3k a month later ....He knew the value of it and couldve easily done that himself but he didnt even want to bother, I told him straight up what i would do if i bought it and even gave him the option of buying it back so he was cool with me selling it. I of course ended up giving him some more money once i sold it because i knew he couldve got more if someone else bought it

 

he IS giving you the amazing deal because he thinks youre his freind.
so do the right thing...

 

$800 as is with a bad starter, or you'd give him $1500 if its running. If a person won't put a starter on a car for $700, he obviously doesn't need money. Why should he be concerned with how much you sell it for after you've put money and effort into it? He coulda made 300 bucks an hour for his effort in replacing the starter, and I seriously doubt you'll make anything near that sort of hourly profit when you sell it.