is it good to buy cars from auctions and sale for profit?

Answer 1

You have a good question. First in most auto auctions you can not bid, you have to be a dealer or salvage operator. If you hav a friend tat is a dealer and can buy at the auction then it can be but remember hat you are buying as is. I bought one one time that looked really nice when i got it home I found that it had a cracked head and block, by the time that I put another engine in it there was nothing left for me. I will also tell you that you really want a person from a salvage operation before you buy a wreck. In my state any vehicle that has been rolled it is totaled I don't care what is or for that matter what isn't wrong with it.

The real answer to your question is that it can be very good, but remember that these vehicles are at a auction for one reason and one reason only,........there is some thing wrong with them.

You might have a option if you want to take it, find some small car lot with light inventory, meet with the owner, easy to spot he looks like a used car salesman. make this offer to him, tell him that you have a few bucks that you would like to invest. Tell him that you are willing to halves on some of the cars that he buys for the both of you and that he can sell them from jis car lot and that you will get 40% of the selling price and that he will keep 60%. He gets the additional 20% for selling the car and for keeping the car on his lot. If you do this he can buy newer and better cas for his lot and you can turn your money over and over, both of you will be happy.


Edit note: Please keep in mind that when you go on line and search for a car to buy, you are going to incur the cost of shipment and the Tax and title for your state. A car out of New York, may have a lot of rust on it, (they use salt on the roads in the winter) the cost of bringing it to south Texas might be as high a $850 plus state taxes and title are going to run at 8.25% and about $100 for the title, your out of state cheap car might cost a lot more than you could even think of selling it for

Answer 2

You can get some good deals if you are knowledgeable about cars, very often you are not allowed to drive the cars, start and idle but that's it. It's difficult to gauge how a car will run if you can't drive, transmission/gear problems, not shifting smoothly, rearend problems all have to be taken into consideration. Another item of interest, most states regulate car dealers/used or new. If a person purchases and transfers several cars in a year, could be fined for not having a dealer license, these seller's are called "curbstoners". Check with your state to find out how many cars/trucks a person can buy/sell/trade within a year without having to get a used/new car license.

Answer 3

That depends on the kind of auction you are talking about, if your talking about classic/collector auctions then no, that's where people go to get a fully restored car for an outrageous amount of money, but if your referring to a small dealers auction(mostly higher mileage cars that mainstream dealers get in on trade and have no desire to sell them on their lot) then yes you can get great deals, Ive been to a few and seen some unbelievable prices, but you wont find many(if any) unique or classic cars.

Answer 4

Hi
Take a look at http://carauctions.co.nr you will find car auctions there , hope this helps

Answer 5

You need to be able to tell the difference between a car that you will profit off of and one you wont...

Its not easy to get into... You need to know your stuff

Answer 6

I guess it is , if you are looking for cheap car auctions then check http://www.carauctions.co.nr/

Answer 7

if you buy them for less than you sell them for and repeat this process with enough frequency it is good.