Buying cars at auction?

Question

I pretty much no what to look for when buying a car at auction. My question is this though: How can I find out what I need to do to turn around and sell the car for a profit? Is there a website to go to or a book that I can purchase? I want something that's gonna tell me how to do it properly. Something that tells me how to fill out the proper sale paperwork, title paperwork, etc.

Does anyone know how I can get a dealers license and how much it costs?

Answer 1

if you have a dealers license you can buy it at auction,,and turn around and resale it,,if you are an individual who wants to do this,,you will have to run it through your name first,,so you can get a clear title on it,,then you can resale it,,if you don't have a dealers license you wont be able to go to some auctions,,so this is going to limit you on being able to find good cars to sell,,the public sales,,are not the good to buy at,,you can get burned real bad on a car there if you don't know what your doing,,you might want to try buying some from your local auto trader to resale to get started,,until you learn the business,,its a dog eat dog world ,,in the used car business,,i know my family owns a car lot,,good luck with it,,i hope this helps.you can buy a book that tells you the value of all cars,,but it is just a guide,,ad does not actually reflect the price of the car you may be trying to buy and you also can get this book up dated every year,,good luck with this.

Answer 2

This will give you a guide to fair market value of an auto. Split the difference between trade in and sale price, and that is generally a fair assumption of what you can resell a car for.
http://www.nada.com/

Answer 3

if your buying a car from an auction you ussually have to rent a dealer and they can cost anywhere up to 100 bucks an hour.