2007-08-11 06:16:27 · 7 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
You have to be very careful if you plan on doing that. some states will allow you to sell a few cars without a dealer license, some require you to be a licensed dealer to sell even one car for profit!
You will have to get the car titled in your name, and pay any applicable taxes and fees before you sell the car! You also are taking a chance that you will lose money! If you buy a car, and it turns out that it needs more work than you thought, you can easily end up with a loss! I do This for a living (licensed dealer) and on some cars I end up losing money!
If I have to take a $500 loss, I can make that up in other deals, because of the volume of cars that I buy and sell! If You were to take that loss, it would hurt a lot more!
2007-08-11 06:26:53 · answer #1 · answered by fire4511 7 · 1⤊ 0⤋
Don't ever settle for what the dealer tells you. Make sure you do your research before entering the dealership. Research the car and what price it should be which that much miles. You set the price and don't buy any additional services (just not worth it). If they're not willing to agree to your terms, go to another dealership. There are tons of cars out there. You just need to look. If they are desperate for your business to make their month end quota, you'll be surprised that they will call you to come back and later agree to your terms ; ) I made the mistake of buying my first car without doing any research on it and believing everything the dealer fed me. I bought it the same day and found out that everything the dealer said was false. Just my stroke of luck to pick the bad sheep in the auto business. Never again. I learned my lesson the hard way. If you want to get the most money out of your current car, try selling it yourself. You will get the most money for it by simply listing it in your local newspaper. Trading it in will get you probably half of what you were thinking about. Good luck!
2016-04-01 04:35:59 · answer #2 · answered by Anonymous · 0⤊ 0⤋
IF you know cars, and have a little peice of land, you can run a business in your home town and on ebay, but it takes time, and the ability to know whats worth it and whats not. My family owns a salvage yard and it makes pretty good money, specially for a side job. Heres the things your going to have to look at. First, your going to have to find cars cheap enough that need little work to no work if you have no time to put into this. Second, finding customers that will pay, because chances are your not going to finance them yourself. Third, liscence from the state, because it will become a business after so many cars, depends on local laws. If you go the salvage yard route, you can "get away" with not getting the permits as long as too many don't sit on your lawn/back lawn for too long. Good luck in whatever you decide.
2007-08-11 06:26:02 · answer #3 · answered by Otis 3 · 0⤊ 0⤋
I know people who tried, some suceeded some lost even their shirts.
You need to buy cheap, sell expensive, have a place, and not a lot of ethics.
2007-08-11 07:32:16 · answer #4 · answered by wazup1971 6 · 0⤊ 2⤋
Lots. You will find them in the Yellow Pages under "Automotive dealers, used."
2007-08-11 06:32:06 · answer #5 · answered by oklatom 7 · 2⤊ 0⤋
I tried, but the DMV fined me for not having a dealer license. They fined me $12,500.
2007-08-11 06:23:45 · answer #6 · answered by mdcbert 6 · 2⤊ 0⤋
i know people that do that... it takes time but you end up making some money
2007-08-11 06:23:43 · answer #7 · answered by WrongHole 5 · 0⤊ 2⤋