How to make money selling used cars part time

And the buyer will have insurance proof to buy it. States have different limits on how many cars you can own or sell without needing a dealer license. Benefits of Flipping Cars Currently, there’s an increasing demand for used cars, across all price ranges.

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Hey everyone, this is for the business savy people that know how to make money. I am in college and work as se,ling waiter. Im tired of working these part time jobs and want to work for my own while in college. I have some money saved up and have some mechanics i know that will help me. I was wondering where i can find some swlling cars and sell them for a profit. Maybe buy a car that is supposedly «totaled», fix it and sell it for a profit.

What is Car Flipping?

So a friend of mine has a car parts business which has made him a decent amount of money over the last two years. Every month he gets a shipment of parts from japan mostly used parts for Subaru and and a few non subaru parts. This consignment always includes a few sets of Alloys -used alloys but in good condition. Today while sipping on some juice as i browsed for parts on ebay, more specifically browsing the alloys section, this friend called me and told me he had just unpacked a set of wheels which had lots of scratches but could be restored with sandblasting and a respray. Artec Ultralite Alloys 18″ 5x To cut a long story short i made my way to his shop and inspected the alloys, they were indeed salvageable and even better they were the ultralite Atec alloys with a rota grid design. These beauties fetch over British Pounds when new.

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Hey everyone, this is for the business savy people that know how to make money. I am in college and work as a waiter. Im tired of working these part time jobs and want to work for my own while in college. I have some money saved up and have some mechanics i know that will help me.

I was wondering where i can find some affordable cars and sell them for a sellijg. Maybe buy a car that is supposedly «totaled», fix it and sell it for a profit. Besides displaying the car in front of your house which way is more efficient in selling cars. Can you use autotrader? Where can i find great deals? I am not looking to start my own business or make a living out of. I just want some extra money in my pocket.

Thanks for the responses so far!! Then, ask them what it takes to become one. That alone will probably scare you off. Most states consider it illegal to sell over 5 cars a year without having a dealer’s license. And most states have strict requirements including putting up tens tike thousands for a surety bond, a storefront.

Your second issue is «where do I mohey vehicles to sell? Fixing «totalled» vehicles with salvaged titles takes thousands of dollars and REAL know-how. That’s a quick path to the poorhouse. Most dealers acquire their vehicles at makke They need tike know in the blink of an eye whether or not a vehicle is worth it.

Sometimes, you might have as little as 30 seconds to check a car. And, keep in mind, when you’re stepping into an auction setting, you’re not going up against amateur wannabe dealers If you have someone you know who is a tiem, see if they will take you to an auction one day.

Get a true feel for the process, you may be VERY surprised how cutthroat it is. If this is something you’re looking at just to «make a little extra cash», you’d do better hunting garage sales and reselling stuff on Craigslist or eBay than. There’s WAY more to it than. First things. It is illegal to buy and sell more than 4 cars per year as an individual. You would need a used car dealer license to sell more than 4 cars in a year and a business lisense to operate as a used car dealer isn’t cheap.

Second, the ONLY way to make any money buying and selling cars is to buy them cheap, repair them youself and resell them for a profit. If ytou have to pay someone else to do all the work your profits willbe eaten up by the repair costs.

Just because you know a few mechanics doesn’t mean they will work for you for free. They need to be paid for their work. Don’t mess around with wrecks. They cost too much to repair. Concentrate on older cars that just need mechanical work.

Fixing them up is less costly and much easier to. Learn how to make money selling cars without working at or owning a car dealership. Start small and stay small, or become a larger business with employees.

These cars can be bought below market value since they are not in great condition. Ask family and friends and check classified ads, online, auto auctions and parts stores to find these cars. If you are a great mechanic, you should have no trouble getting the cars into selling condition. If you are not mechanically inclined, you need to hire someone who is. That person can work for an hourly rate or for commission. Repair all cosmetic problems.

Have the car washed and detailed to get the most money for the car. Add some room to haggle into the price since most people will buy after you knock off a portion of the price. This sellijg them feel as if they are getting a bargain. Repeat this process and be honest, and you should have a growing business. First, there is no money in fixing totaled cars for profit. This is because the instant the insurance company brands them as totaled, they will have the word salvaged printed on their title for the rest of the vehicle’s existence.

A vehicle with a salvaged title hw only be worth a fraction of the value of a comparable vehicle with a clean title no matter how well it was repaired. Lenders will usually not give a potential buyer a loan for a vehicle like this because of it’s diminished value. Other dealers would not take a vehicle with a salvaged title in on trade because they are so difficult to sell.

Insurance companies will only sell liability only policies on salvaged vehicle. The salvaged title can not be hidden. Try and hide a salvaged title and expect to be prosecuted for fraud. Vehicles with a salvaged title are very difficult to sell. The less expensive vehicles are usually cags at dealer only auctions. You must be a licensed car dealer to attend one of these dealer only auctions.

To do this you must attain a tax ID. You must establish a legal business. You must then apply for a dealer license. You may also need to either purchase or lease property to establish your used car lot.

Many municipalities frown upon having a used car lot in a residential area. Then you have to get all of the required insurance and purchase some how to make money selling used cars part time plates.

You think you monej working hard. Just wait until you have to deal with car of the bookkeeping with maintaining a business. Most people who do this buy cars at auto auctions.

But knowing what to pay is hard. You can’t test drive the cars and can barely inspect. Therefore, you have to be experienced enough to know what to buy and what not to buy. You also would have to be experienced enough to know how much repairs would cost on each car, and how much you might be able to sell it for to make a profit. It’s not an easy or surefire way to make money. Trending News. Cruise line: Video shows man knew window was open. Social media onslaught after McGregor’s swift win.

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Boy arrested after 4 people killed in Utah shooting. Update: I am not looking to start my own business or make a living out of. Answer Save. ElGrande Lv 7. Favorite Answer. Nobody is going to get rich repairing old cars and selling. Useed do you think about the answers? You can sign in to vote the answer. Mad Jack Lv 7. You have some unrelaistic expectations First, there is no money in fixing totaled cars for profit. TiggyWiggy Lv 7. Still have questions? Get your answers by asking .

Make Money Selling Used Cars Part Time

But my favorite is still the older cc. Pick up your sponge, dip it deep into the soapy water, and scrub the body down with the sponge. I don’t know how possible it will be for me to buy cars from US without coming there because I don’t have a visa to the state? So competition is very tough. A few of the notes were new to me.