Buying And Selling Cars
by: Steve Gillman
Our neighbor Jose doesn't speak much English, which makes it tough to live here in northern Michigan. Despite that, he made a profit of over $30,000 last year selling cars out of his front yard. It's true that he's a mechanic, and that helps, but it isn't the key to his success.
The Key To Buying And Selling Cars
To make money selling cars you have to know the value of cars. Knowing which cars people most want might help too, but any car will sell for some price, and you need to know that price. Drive around looking at cars for sale, or cars just sitting idle in people's yards. When you can easily look at a car and guess how much it will sell for, the rest is easy - just offer $1000 less. You'll eventually buy a car, and sell it for a profit. Then you can and repeat the process.
To start learning about the used car market, you can watch the classified ads, keeping in mind that the asking prices are not the sales prices. Take notes. Used car pricing guides, such as the "bluebook," generally show inflated retail prices. Use them, but assume you'll sell the car for the "loan value", or average wholesale price. In any case they are good to show to your prospective buyers.
If You Know Nothing About Cars
What if, like myself, you know nothing about buying and selling cars and don't want to learn? Find a friend who knows cars and wants to make money. For example, I gave my brother $950 to buy an old truck because he said it was worth more than twice that. Sure enough, he sold it in a week and returned my money, plus half of the $900 profit.
I gave another friend $3200 to buy an old plastic-bodied car. He paid
$2200 for it, and put a transmission in it, along with other minor repairs. I didn't know what a Corvette was, why anyone would want a car from 1976, or where to go to get a transmission put in for $800. Fortunately, my friend did.
Less than two weeks later he sold the car for $4200 and returned my money plus my half of the profit: $500. I've done this a number of times now with friends who know more about cars than I do. Are you cash poor? A short term cash advance on a credit card would have cost me about $50, still leaving a profit of $450.
Here in Michigan, the law says you need a dealer's license if you sell more than six cars in a year. You could have six titled in your name, six in your friend's name, and six in your wife's name. That gives you a good chance to see if you like the business enough to get a car dealers license. Check the relevant laws in your state.
The key to buying and selling cars for profit is knowledge - but you can get that from a friend.
About The Author
Steve Gillman has been studying every aspect of money for thirty years. You can find more interesting and useful information on his website; http://www.UnusualWaysToMakeMoney.com.
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Muscle Cars, Like Dinosaurs, Once Ruled The Earth
Muscle Cars, Like Dinosaurs, Once Ruled The Earth
by: Brian Edwards
Detroit, or the world, has never produced an automobile that rivals the muscle cars of the 1960?s and early 1970?s. They were big, powerful and wonderfully unrefined. No one would call them sports car in the traditional sense. They were not nimble and curves were dangerous at most any speed. However, what they lacked in sophistication they made up for in brut force. In many ways the GTO?s, Mustangs, Road Runners and their brethren represented the American character better than any vehicle past or present. Simplicity, dependability, strength and singularity of purpose were their calling cards. No one could confuse the purpose of these beasts. It was plain for all, and it was straight-line performance for one quarter of a mile. Nothing else mattered.
Contrast that with today and the lore of days past becomes even more apparent. A new Corvette will defeat even the most powerful...
Muscle Cars, Like Dinosaurs, Once Ruled The Earth
Used cars > Muscle Cars, Like Dinosaurs, Once Ruled The Earth
Guides For Perfect Car Dealerships
Guides For Perfect Car Dealerships
by: Gregory Ashton
Have you considered buying a used car? There are fair and not-so-fair deals lurking around but for most of us, we are not just looking for something fair, we are looking for something great!
The Internet will equip you with valuable details about unbiased car reviews and ratings, including price ratings, specifications and reasonable, yet honest, reviews, including photos of used cars.
Comparison shops furnish and maintain databases as well where they keep price listings for used cars with their respective merchandisers across the net.
Private Seller Listings: Great Deals for Real
Great deals may not always turn out great in some circumstances. Unwise selection and choice of car dealers could lead you to wasting your money.
In fact in 2004 alone, it was recorded that half of those who bought their own cars in the US have considered purchasing used cars rather than...
Guides For Perfect Car Dealerships
Used cars > Guides For Perfect Car Dealerships
Certified Used Car Still a Risk to Buy
Certified Used Car Still a Risk to Buy
by: Charles Essmeier
With the price of a new car getting higher and higher each year, many buyers choose to buy used cars instead. The price of a new car can easily equal a year's pay for many people, so buying a used car makes sense. But there are risks associated with buying a pre-owned vehicle. What if is defective? What if it is a lemon law buyback? Once should always be a bit suspicious of a used vehicle. After all, if it is a great buy, then why did the original owner choose to part with it?
To resolve some of these issues, as well as to compete with volume dealers of used cars such as Carmax, the major auto manufacturers have introduced the concept of a "certified used car." These cars are inspected for problems, repaired if necessary, and offered for sale with a warranty that is better than the one typically offered with sales of used cars. In exchange for this added peace of mind, the buyer pays...
Certified Used Car Still a Risk to Buy
Used cars > Certified Used Car Still a Risk to Buy
Used cars
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