buying used kars, detailing, and selling

[jeteast99]

Where are you considering buying the vehicles from? Private owners with broke down cars that they don't want to fix (easy money here if you have mechanical knowledge), dealer only auctions or dealerships? It is not as always easy as cleaning the car up and selling it. You will have to consider repairs as many will need it and it would be best if you could do it yourself to save some cash.

As for the limit amount of vehicles you can sell, it all depends on the state. Check with the DMV. If you plan to sell more than that limit you will have to get a dealer license which after all said is done, costs a few thousand dollars.

Flipping cars can be easy, you just have to find the right cars that are selling in your area. In Orlando, I've had success with 4 cylinder imports from 1990 to 2000. Also I've had great success with 4x4 trucks, especially Jeeps and Tacomas. What happens many times with these vehicles, is that a Latin American will buy it in cash and then export it to their home country. And we export it for them and handle that thru the whole process. If you have a connection in another country, you could have great success in this side of the business, and I highly recommend it. I export to Latin America, while i know people who export to Russia. Just gotta know the right people on the other side.

Its a very good business if you know cars and people. Remember it is business tho, don't buy cars you want or like. Find out what sells in your area and you should do well.

[salty]

The best way to go about it is start with Black Book or Blue in the US or research the selling prices. Then find a deal, whether at public auctions, estate sales or a car that is listed as OBO or must sell quick.

Haggle that the paint is poor, interior smells etc. You could also hit them up for business, too.

While a agree with Jake on the unique vehicle, it could bring up a couple problems. First they usually sell for more and it might decrease your buying base. You will make it unique with your detailing skill.

Do as much auto body and mechanical repair as possible yourself or find a discount.

[backwoods_lex]

I'd imagine word of mouth would play a big role too. I was recently talking to a coworker who mentioned she was selling a 1995 dodge neon for $300. My ears perked up right away.

Making a bit more money than I used to, I might actually give it a shot sometime. I've kicked it around for a while.

[toyotaguy]

i have a couple friends and family in law enforcement and have a little hookup to get cars at police auctions for cheap cheap! I think I will try it out one time and see what happens...he bought a $750 commute carand only puts gas in it, no issues...plans on selling it for a few thousand at the end of the summer...

[VroooomCrash]

I'd suggest specializing in a certain marque. I was considering doing it as a hobby, and this helps in many ways.

1) You really know the cars you sell, so you can discuss them with prospective buyers
2) You know what to look for when buying them and have less of a chance of lemoning
3) If there is a part that breaks, you can stockpile parts for that type of car.
4) Your listings will be easier to make.

I'd say the best car to "flip" would be any single staged paint car that is slightly oxidized. Lots of pink early/mid 90's cars out there waiting for you to turn them red

[jrib]

You hit a sore spot. I bought a "91"Dodge Spirit last sunday from a customer whose Mother just passed away for $800. The car was always garaged,61,000 original miles,New Goodyears,coldA/C. 3 " of service records.Very,Very clean car...
I sold the car on tuesday for $1,850($1,050 profit) to a Attorney....This afternoon I get a call from the Attorney stating her friend says she paid to much$$ and that she wants $1,000 refund or she will sue me.Well this caused me to come unglued After about 5 minutes of arguing back-n-forth I replyed "I guess I'll see you in Court" and promptly hung up.
In Tennessee 6 cars a year is the limit, Which is about all I can find anyway.As far as where to find them,alot of tha time its just being in the right place at the right time. I myself get up early each morning(4:30) and check the local paper(classifieds) you can find "Grandma's Car"for sale at a very good price quite often...You gotta move fast.
I always try to find 4-bangers with A/C, good tires(or buy new tires) and keep the resale value around $2,000

[Flashtime]

Well, i've "flipped" quite a few cars over the years (30 or so). Mainly cargo vans
and cheap - sub 5k - daily drivers... I own a small body shop and do mechanical
repairs. Not actively seeking cars to flip, but there are gems every now and then.

Even for someone with mechanical experience, it can be quite difficult to make
a profit. I've known a few mechanics, body men, and painters that tried.
Most of them quit early, realizing the margins are too slim for the time spent.
The smarter ones are very patient, resourceful, mechanically skilled, and have
a decent understanding of the market(s). I have one buddy that's been at it
for a few years and i get parts for him at cost.

Be careful of auctions, they wind up there for a reason. You REALLY need to
know what to look for and you'll be competing with guys that do... I've
sent quite a few cars to the auctions and maybe one or two out a hundred
were good buys for someone.

OK, this can get long winded... In a nutshell, it's not worth it for most.
Just be on the look out for decent cars for sale from your customers.

[trusteddetail]

We got our dealer license last month and so far sold two cars.

One we made $2200 and one yesterday we made $800.

The key is getting cars into low enough so that even if you need to put $500
in to it there's still a good profit.

The cars selling now are $1500-$4000 and made in Japan or korea. These
are hard to find as they sell like hotcakes !

US made cars aren't selling unless they are trucks !

[toyotaguy]

that is exactly what I was thinking...cars = foreign, trucks= american made

[David Fermani]

Originally Posted by jeteast99

As for the limit amount of vehicles you can sell, it all depends on the state. Check with the DMV. If you plan to sell more than that limit you will have to get a dealer license which after all said is done, costs a few thousand dollars.

2 words = Jump Title

[toyotaguy]

thats when you dont take possession but can still resell it right...

[David Fermani]

Buy a car, have the seller leave the title blank and re-sell it to 3rd party. All without ever registering it in your name, hence "jumping over yourself as owner" to avoid paying taxes.