Anybody here buy/sell cars?

The roaches end up at the auction because the auction is a last resort for most people.



First line - retail

Second line - sub-prime retail

Third line - arm or sell to another dealer who may have luck with that car

Fourth line - sell to a wholesaler

Fifth line - autcion

Sixth line - after sale or sell it off the block
 
Its really all about your available outlets.



In Westchester county, I couldn't GIVE a Corvette away. When I saw one as a trade, I always bid thousands below book. And I was pissed if I got it. In Nassau and Suffolk counties, I could sell these Corvettes all day, and I did after I found an outlet.



In Westchester, I couldnt pay high enough for a Volvo, Saab, or Audi. In Nassau and Suffolk, I could steal these cars all day and ship them home for big profits. Plus the dealers I dealt with there were happy to unload those to me as I supplied them with Corvettes and Camaros which they did well with.



Keep in mind, we both made profit in both directions.
 
Work vans and pick-up trucks are gold, regardless of condition. There is always someone looking for a van or pick-up at ANY price. This is their bread and butter so they stretch to spend on them.



I have bought about 5,000 cars in my life. I can count on 1 hand how many were work vans and pick-up trucks. I could never pay enough and still make a decent profit to warrant the purchase. I just didnt have the customers.
 
On the other hand, I learned the hard way that successful businessmen RARELY do somthing for nothing. I went into a similar situation recently. A guy with a great looking lot... Bimmers, Corvettes, Mercedes AMG, I went in thinking if I could spend all my time washing thses beauties Ild be in heaven, The guy offers me shop space in trade from polishing up his cars. It turns out the guy is heading towards bankruptcy and just about the time i get his warehouse nice and cleaned up and looking like a detail shop... the real estate guy shows up for the apraisal and Im looking for a new place to do business.



Im not saying that you haven't found a great opportunity, but always go in with both eyes open, Most men don't get successful by giving things away.
 
Oh, believe me, my eyes are wide open. I've been in enough businesses and seen enough things that I can't be taken too easily. Frankly, I probably don't give things a chance sometimes because I'm so cynical, but oh well.



This guy isn't doing this for nothing. I give him $100 for each car I buy under his license, so he will be making some money, assuming I'm successful at this. I like that though, because it means that he has an interest in my success.



By the way, I met his nephew (they have a family owned business) out at the auction site today. We looked through the cars, and I didn't find anything in my price range. However, he picked up a nice van for $3k under book that ran very well and had good mileage. From what he said, vans just don't gather much interest here, but he happens to already have a buyer lined up for it. So, he made some money today, and I gained some experience.



Thanks again to everyone for their excellent input. This has been very interesting to me, and I like seeing the different sides and experiences of others.



Keep the advice coming, and I may not be the only one getting into this. Maybe others could make some extra money or turn it into a business. Most of us here love cars, so why not buy and sell them if you can.
 
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