I want to make money buying and selling cars for profit, anyone have any ideas of how I should start?

Question

Does anyone else buy and sell cars for profit? What should I do to get started?

Thanks

Answer 1

Start small. Meet people and talk to people that know what they are doing. Find mechanics and other shops that will give you great deals for work you need done. If you start small, you will have less to lose and more to gain- better for learning.

If you are serious about buying and selling cars for profit, go to http://www.DealYourCars.com

Answer 2

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Answer 3

Look for vehicles with great resale values. For example, Toyota vehicles have excellent resale values. Also, try to invest as little as possible in the exterior but make the vehicle mechanically sound. There shouldn't be any obvious problems with the motor when a potential buyer reviews the car. Change the belts and oil. A minor tune up can go a long way, it gives the buyer a sense of reliability. Brakes should not squeak or grind. All the general maintenance listed above will usually cost less than $150 if you do these yourself. Also, look for cars that are hot on the market, like fuel efficient vehicles.

Answer 4

Keep a look in the classified ads. know what is going to sell and what may not in your area. Also drive around and check out cars that are on the side of the road or in mall parking lots for sale. Determine how much you can purchase the vehicle for. How much you may need to put into it to re-sell it. Also, check with your local tax office. Some places will limit the number of vehicles you can sell in a year and NOT be considered a dealer. You will have to register a business and pay other taxes if you go big like that. Another thing to consider is can you do most of the fix ups on these vehicles? That would save you a lot of money. My dad and I buy and sell classic cars.

Answer 5

Find a local car auction event if you have the start-up cash to buy an auction car. Otherwise, eBay is a good source for buying and selling cars. Get a dealer's license if you plan on buying and selling more than 4 cars per year.XeA

Answer 6

Start by finding out what the rules are for selling used cars in your area, and follow them. In most cases, you will need to be licensed and insured, and have property zoned commercial.

Start with state rules, then country, and finally city.

Answer 7

You have to be a car mechanic or able to afford to hire one to do that. I know some mechanics buys broken car, repair and sell it. Car dealership is a big business...

Answer 8

Don't fall for one of those adds in the paper that says you can make 4k per month working for a dealership. I know many people including myself who tried that and few make it.

Answer 9

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