buying used kars, detailing, and selling

toyotaguy · 04-29-09, 09:05

basically flipping cars for profit....anyone here do it?

I was wondering what types of cars are the ticket right now? smaller suv's, small sedans, eco cars...or just in general, the one you can get the best deal on and turn the most profit?

also, I couldnt find info on it, but I heard you have to have a dealers license if you sell more than 6 cars a year...true? anywhere to get some info on that...

I was thinking about picking up a couple cars at auction prices and detailing them to a T and making them look brand new, then selling for profit. Obviously I wouldnt sell for less than I purchased by any means, but 500 bucks is 500 bucks, just like 3-4K is 3-4K!!!

thoughts?

toyotaguy · 04-29-09, 09:06

PS I had to spell it with a K in order to make the thread. I know its Cars...lol

salty · 04-30-09, 12:54

I think the best deal is on a general type vehicle, like a Civic or a Gran Prix or Ranger.

I have a buddy that is flipping Civics' right now, but he is buying body damage and doing most of the work himself.

Trucks are hot sellers around here, but our economy is still strong.

fergnation · 04-30-09, 06:21

Trucks are about the only thing selling right now. Tough time to be trying to sell cars. The market is flooded now with repo's and cars people want to get out of. But trucks are always needed for business and there is a huge number of people that have lost there jobs. They are now trying to start their own busines and the first thing they are looking for is a work vehicle.

RaskyR1 · 04-30-09, 07:17

The cheap $500-2000 cars are selling the best around here. My friend can't keep them on the lot more than a day or two. And yes, you have to have a license to do it. It's not like you can just walk down to a store and get one either...

It's also very hard to get your foot in the door at dealerships...which is where most car jockeys get there cars from. People trade in a car and if it's not something the new car dealer wants on their lot, they wholesale it out to the jockeys. Usually they have their go to guy for selling their cars too and won't give other buyers the time of day. I used to run cars for my buddy and there was a LOT of a$$ kissing involved in maintaining a good relationship with the dealerships. I often had to stop off and pick up lunch, or doughnuts for the whole staff!

D Tailor · 04-30-09, 09:46

I am currently working on it. I am originally from Mallorca, Spain and I have begun networking as a detailer when I visit my family throughout the year (as there may be a chance that I move back to be with my family....I've been here for too many years alone). Along with that, I've been toying with the idea of brokering vehicles. I've several friends that are dealers and we've been discussing the terms and conditions of the proposition, researching import/export laws, etc. The market on the islands is high and with my family's business and business contacts, it might be a slam dunk for me. I was just awestruck when my cousin told me 2 years ago he paid the equivalent of 75k for a Nissan Murano with all the trimmings.

backwoods_lex · 04-30-09, 11:54

I've thought about doing it before but haven't been able to come up with the money for the investment. I figured if I can't find anyone to pay me $25-$50 an hour, why not pay myself to do it?

I have absolutely no idea what number of cars you can sell per year in each state, but I'm sure all of the other stuff would confuse me too. Maybe you could use siblings and friends to help you out for a few bucks. Would I have to sign the title and then have it remade? Would I have to have the car insured for two weeks (and is that something thatI could do?)

One would think that there would be money in it. I remember seeing dealers tell customers that the can't use their car and would only pay $500 for it only to have me spend six hours detailing it and selling it for $4500 firm LOL.

toyotaguy · 05-01-09, 12:30

thats actually the exact plan...buy low sell for profit...doesnt matter the amount, 200+ is 200+, but who am I kidding, i am shooting for 2K+ on each car...if not more

salty · 05-01-09, 01:29

If you can buy right there is money to be made.

Having worked at small used car dealerships for over 10 years, now on my own and still detailing their vehicles, it is not unheard of making $5000 off a silk pigs ear.

One example from a couple weeks ago. Black '06 Chev crew cab 2500 diesel, was a work truck and will probably be sold as a work truck. Went through safety check no problem, my bill for reconditioning was over $400.

Their mark up is probably over $4000.

RaskyR1 · 05-01-09, 08:59

There is also the option of buying and selling under another dealers license until you can get your own. Obviously they are going to want a % of the profit for doing so, but it's a way to get going.

Rasky

Twista616 · 05-01-09, 11:14

i do that a lot here in Ohio, but i buy strictly AWD cars, since I live in the snow belt and we get hammered with snow!

Out of 12 car, i lost money on one! I think that's a good ratio...

Where your at in Cali...i dont know...it might be tough, theres already soooo many cars anyway!

Jakerooni · 05-01-09, 12:20

I looked into it but quickly decided against it. Way too much effort for very little profit (at least in this area) the lots are just stocked full of cars that just don't move. Most corner lots are drying up and going out of business because they can't pay their notes because no one wants to buy jack crap right now. If you're going to do it though look for cars with unique qualities. People will always look at a "rare collector's item"