The best way to start your buy and sell used cars for profit business is to pick your niche. I highly recommend the transportation car arena, good reliable clean used cars sell fast and easy from $1700 to $3500. Now that you know what your going to be selling you know what to look for and what to market to get.
Chasing classified ads is for the amateur and can be competitive, buying cars at auction is very dangerous and rarely pays back what you paid for it.
Place a cars wanted ad in your local classifieds, screen the calls, set an appointment, go to the sellers home with cash in hand. get rapport with the seller, inspect the car including the vital signs i.e. oil, water and never ever oil and water mixed, do the silent walk around which is silently touching each and every flaw as you quietly walk around the car.
As you hmm, haw, slouch and act very disappointed, ask the seller what they will take for the car then give them a little less than that. Off with your money takes the keys to your local car deal.
Now that you know what you are going to be looking for its time to do your research and find what your looking for. Check classified ads, review Kelly blue book prices, search on eBay for local cars, ask around, surf the web, your feel and trust your gut.
Tips to buy and sell used cars for profit
Hint, your looking in the wrong place if you think you want to buy a 7 year old Hondas. Go somewhere else. Your looking in the wrong place if your buying a 4 year old Hondas, 5 year old Hondas, BMWs, Hondas and more. These cars are all over the street and are much more desirable.
Now that you know what you are looking for, check the blue book value on the web from the pre-owned lots. Lets say you are looking at $1700 and the blue book has a value of $1700, take the difference down to $1000, then multiply this value by the sellers asking price on classifieds. This is your win. You have just bought yourself a nice truck for $1000.
In general, you’re looking for cars that are relatively unknown, average, semi-operational and priced under trade-in value. There really is no catch in front of you as far as the numbers are concerned. These cars are hard to find, and it can be a real challenge to get one, if and only if the seller is motivated to sell, so keep your ear to the ground for any offers.
Cars that are new, as in 90 day or less, are even more scarce and could be a real pain if you don’t have people looking for bargains, but as we just learned, that is not always the case. There is a world of difference between a model transaction and a used car purchase, so learn the tricks of the trade, to maximize your gains. To start, you have to be prepared to walk away, at any time, so get the impression that you are doing business, if you think there is any chance that the seller is genuine, fade the offer, so they think you are interested.
Once they sense that you are really getting serious, start leading the sale, by quoting BMW’s, Mercedes’ and DOW Loans in reference to your purchase price to make it clear that you are not fooling around. When they mention prices, be specific, give them all the specifics about the car including year, model, mileage, cost of repairs and any improvements on the vehicle, rather than referring back to an advertisement. Ask them for an online quote now. When they tell you what they paid for the car, ask them how much they got from the car lot.
Check their eBay page now. If this is a local lot, look for selling prices, check the local classified ads and any online classifieds, the price quotes will be on the net, but often the sellers hide small price reductions. This is just another marketing trick, use your ace. Once the deal is finalized, arrange an inspection before you hand over your money.
How to buy and sell used cars for profit, summary
You can get a good deal on a car in your area by performing a thorough online search. It will cost no more than $ coaches and structurally sound, but be prepared to pay more, as the minority of sellers who are determined to empty the market will eat your check for eversible penny they can get your Consumer Fax or Rover rubbery to put their side of the story on. There are a million bad stories, but there are good too. Your annoying tax man will give you a check, but that’s the end of it.