FREQUENT ASKED QUESTIONS (FAQ'S)
CarFlip is a simple but very powerful application designed for people or entities that are engaged in the purchase, repair and sale of cars known as "Car Flipping". This application allows you to create the car, allocate repair costs and then calculate the expected profit and / or maximum bid to present in the auction or source of purchase. Carflip has two methods of approximation for costs related to the repair and preparation of the unit to be sold.
In order to analyze a car prospect, first of all you need to create it, to do this just click the "Create Auto" button on the digital screen. Here you can enter the related data of the vehicle that you want in order to create a file which you can call later through the “Prospect Car” button.
As mentioned above once the car has just been created, you will have to press the "Prospect Car" button in the main screen, and there you will find the list of cars that you already created.
It is usually the identification number of the unit to be sold at the auction house.
The Vehicle Identification Number (VIN) is the unique identification number of the vehicle. This number is the equivalent of the vehicle's fingerprints and is assigned by the manufacturer.
For the benefit of all users Carflip has two methods for calculating vehicle repair and documentation costs: "Detailed" and "Ballpark". The method to be used will depend on the user's level of knowledge and experience in the business. For example the detailed method is most recommended for people who are starting in the business while people who have a lot of experience can use the approximate method given to their speed.
7. Expected Profit or Maximum Bid Offer?
Carflip offers two very useful parameters to be able to offer in the process of buying a vehicle: the “Expected Profit” and the “Maximum Bid Offer”. In this app, the expected profit can be determined using the custom % amount of the market value and also and/or a fixed profit. The % profit can be changed in every entry and it will be function of the market value. On the other hand, the fixed profit will be the amount that you expect to earn.