How To Make Money With Used Cars!
by: C.L. Spartalis
One of the most important purchases consumers make is a car. The
average consumer purchases another car every several years. With
the High Cost of new cars millions of people are opting to
purchase affordable used cars.
There is a Massive opportunity to earn an excellent income. Help
fill this high demand for quality used cars at affordable prices.
When starting out you should focus on cars under the $4,000
range.
Do some research and find out what the most popular best selling
cars in your area are. By staying in the lower price ranges with
these popular vehicles you will be in a higher demand market
since more people can afford these vehicles than higher priced
more expensive cars, this will make it much easer to sell quickly
for a profit.
You make your money when you buy, this is an important key to
your success. You will need to pay wholesale price or below less
the cost of any needed repairs, and other expenses ie: detailing,
newspaper ads, etc. Once you know the wholesale price, less
repair costs and expenses, you will know how much you can pay for
a car. If you buy it right you wll be able to sell it at a profit
and still give the buyer a great deal.
One of the most important things you can do to purchase a used
cars at bargain prices is to do your homework. You should check
your local classified ads and see what the asking price is for
the type of vehicle that you are in the market for.
Make sure to get the high and low Blue Book and wholesale prices
on the vehicle that you are interested in. Here are some
excellent sources for getting pricing:
NADA GUIDES - www.nadaguides.com
KELLEY BLUE BOOK - www.kbb.com
EDMUNDS - www.edmunds.com
Other resources to check with is CARFAX. They can supply you with
the vehicle history report. The National Highway Traffic Safety
Administration has a research area to check recall history on
cars. We recommend that you have the vehicle you are interested
in purchasing be inspected by your own mechanic prior to
purchase.
Newspaper Classified Ads are an excellent place to find cars at
well below retail prices. Many of these people will be happy to
sell their used cars for several hundred dollars more than what
was quoted by the dealer and you will end up with an EXCELLENT
BUY!
Online Auctions can be a great place to find bargains. You can
shop right from the comfort of your own home. Look for auctions
with no reserve, these auctions don’t have a minimum price before
they will sell.
Public Car Auctions are open to the general public and do not
require you to have a Dealer’s License. Public auctions can be an
excellent place to purchase cars at wholesale prices. Some of
these auctions are: Auction Repossessions of Credit Unions, Banks
& Lending Institutions. Some public auctions also auction Police
and Local Municipalities, City, State, & County vehicles.
Estate and Bankruptcy Auctions can be a very good place to
purchase vehicles at wholesale prices. These auctions are usually
advertised in newspaper classified section or handled by Probate
Estate Auctioneers.
Government Auctions are an excellent source for bargin vehicles.
They include vehicles from DEA drug raid seizures, FBI, IRS, U.S.
Customs Auctions, Department of Defense, General Services
Auctions, Resolution Trust Corporation, Department of Housing and
Urban Development, and U.S. Postal Services.
Rental Car Companies often sell their fleet of cars by auction.
They can be a great source of cars. Contact these large companies
and inquire.
Dealer Auctions can be one of the best sources to cars at below
wholesale prices. Most of these auctions require that you have a
dealer’s license. These auctions include lease cars, trade-ins,
rentals, and fleet vehicles.
Stay away from used cars that need major mechanical repairs or
body work. Look for good, dependable cars, if the pait is a
little dull or the rug is dirty, you can detail, polish and wax
the car and clean the carpet. Replace the floor mats if needed.
By doing a few hours of work, you can make your car worth
hundreds or even thousands of dollars more. By having a clean
care, inside and out, you will attract more buyers that will be
willing to pay you top dollar for your car.
When your car is ready to sell, you can place and ad in your
local newspaper's classified section, or you can place your ad on
the internet and reach a wider audience. CARS.COM and
AUTOBYTEL.COM has a lot of traffic and is enexpensive. Selling
cars through online auctions has also become very popular. It has
become one of the easiest, fastest, and most cost effective
methods to reach your target audience of hundreds and even
thousands of people looking at your car. EBAYMOTORS.COM or
AUCTIONYOURAUTOS.COM are both online auction sites.
Most states require that you have a Dealer's License when you buy
and sell vehicles for profit. Check with your states Department
of Motor Vehicles or Department of Public Safety for more
information on how to obtain a Dealer's License. It is important
to consult with your attorney, insurance agent, accountant, and
other government officials to determine what permits, licenses,
records, insurance policies, etc., are required.
C.L.Spartalis is the publisher of The of How To Turn Used Cars
Into Ca$h With Your Computer. No Inventory Required.
www.turnusedcarstocash.com/home.html
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