YouTuber Claims $10,000 Profit on Jeep Cherokee Sale
Drew Johnson’s insurance would only give him a policy for $6,000 on the $10,000 purchase. He sells it for $21,699 instead.
One thing we car enthusiasts love to do is spend hours online looking at possible acquisitions for our dream garage. YouTuber Drew Johnson was recently on a Jeep Cherokee kick. After finding a choice Jeep XJ Cherokee online, he swiped it up.
Johnson says on his show The Drew Johnson Experience that a buddy had tipped him off that “clean, low-mileage XJ’s were becoming increasingly difficult to find.” When he came across a 1999 Jeep XJ Cherokee Limited with only 20,000 miles selling for a mere $10,000, he knew he had to get it. He bought it sight unseen and had it shipped from Texas to his home state of Ohio.
“Like a magical portal into the year 1999, my new Jeep Cherokee rolled off the trailer in brand-new condition,” Johnson says.
But as they say, be careful what you wish for. The Cherokee was in such nice condition that Johnson was hesitant to really get down and dirty with it, lest he add too much wear and tear. Also, his insurance would only give him a policy for $6,000 on the $10,000 purchase. Ultimately, it just wasn’t the right fit and he decided to sell it.
“I could have sold my Cherokee in ‘as-is’ condition and turned a decent profit” Johnson explains. “But I wanted to maximize my return. So I decided to fix a few issues it had.”
One issue was fixing a broken plastic gear in the drivers seat that prevented proper seat adjustment. Next his mechanic fixed the clunky suspension by replacing the bushings. The mechanic also did an oil change and tightened up a fan belt.
Johnson put the Cherokee up for sale online at Bring A Trailer.
He paid $10,000 for the Jeep, plus just under $3,000 for repairs and mods, included tire replacement. The grand total spent was $12,954. He was hoping it would sell for $16,000, but was delighted when the action got hot and the final bid came in at $21,699, netting him a profit of $8,745.
That cash was quickly spent on a German minivan that Johnson spotted. He is planning on fixing that up as well. And the cycle continues!
To follow his adventures check him out on YouTube, or give him a follow on Instagram.
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