I bought a battered second-hand Peugeot for a bargain £250… I sold it for a huge profit after DIY tweaks
A CAR dealer has revealed how he bought a battered old Peugeot for just £250, only to sell it for a massive profit after some DIY tweaks.
Matthew Goodwin, who runs High Peak Autos in Stockport, Greater Manchester, snapped the motor up sight unseen but managed to turn it into a little goldmine.
The model in question was a 2009 Peugeot 308 with some pretty rough cosmetic issues.
For example, one of the wing mirrors was “held on by duct tape”, while it also suffered some of the wear and tear that you might expect from a car with 155,000 miles on it.
Speaking on his Youtube channel, though, Matt remained optimistic.
He said: “The good thing about cheap cars like this, how much is a wing mirror going to cost me off eBay? £25?
“Nothing’s expensive… that looks alright.
“Does need a good old clean…not the end of the world though.”
And there was plenty to like, with the interior almost spotless save for some dog hair, two sets of keys and a vanishingly rare spare wheel in the boot.
A test drive didn’t reveal any faults either, with the motor having had regular servicing and coming with an MOT.
He added: “It’s better than I was expecting.
“This isn’t a bad car you know.
“For £250 this is a bit of a bargain.
“I’ve bought far worse.”
All in all, Matt set himself a budget of another £250 to make the repairs and upgrades he needed to sell the car on.
He just had to replace the rear tyres, wing mirror, number plates, steering wheel and give it a thorough clean.
That came to just £228 and he ended up listing it for £1,496, more than tripling his money with a profit of £1,000.
Social media commenters certainly admired his work.
One wrote: “A result.
“An old Peugeot turning you a profit, who’d have thought it?”
Another joked: “That appears to be the only Peugeot 308 that someone has taken care of throughout its life.”
It comes after a driver revealed the pricey damage caused when their £200,000 supercar was hit by a rogue goofball.
Have you made a mega profit on an old motor? Email jacob.jaffa@news.co.uk to share your story