Comments on: Buying & Selling from Home http://autodealeracademy.com/archives/81 Get a Dealers License and Build a Profitable Auto Broker Business Fri, 16 Jul 2010 21:08:44 -0500 http://wordpress.org/?v=2.9.1 hourly 1 By: George Dean http://autodealeracademy.com/archives/81#comment-78 George Dean Thu, 27 May 2010 21:20:02 +0000 http://autodealeracademy.com/?p=81#comment-78 Mike, Getting a license does NOT cut into profit. It explodes your profit b/c of your ACCESS to cars! George Mike,

Getting a license does NOT cut into profit. It explodes your profit b/c of your ACCESS to cars!

George

]]> By: MIKE FRIEDMANN http://autodealeracademy.com/archives/81#comment-77 MIKE FRIEDMANN Thu, 27 May 2010 16:40:46 +0000 http://autodealeracademy.com/?p=81#comment-77 I have sold many cars in the past, but I still don't have access to an auction, where I can buy some decent cars for a good price. I don't want to invest money in a car lot either. That cuts into the profit. I have sold many cars in the past, but I still don’t have access to an auction, where I can buy some decent cars for a good price.
I don’t want to invest money in a car lot either. That cuts into the profit.

]]> By: George Dean http://autodealeracademy.com/archives/81#comment-63 George Dean Tue, 05 Jan 2010 19:08:45 +0000 http://autodealeracademy.com/?p=81#comment-63 @ Mike Riley If buy & sell in your OWN name.. make sure you buy CHEAP cars so the tax does not have a big impact. Thanks for the GREAT feedback! George @ Mike Riley

If buy & sell in your OWN name.. make sure you buy CHEAP cars so the tax does not have a big impact.

Thanks for the GREAT feedback!

George

]]> By: Mark Riley http://autodealeracademy.com/archives/81#comment-58 Mark Riley Thu, 31 Dec 2009 18:37:04 +0000 http://autodealeracademy.com/?p=81#comment-58 Most states have the minimum sell limit you can sell cars before getting your license. I still get the car title in my name and get it insured. I don't like doing that because in nc the state used to have the limit @ 5 cars per year...now it's 10 per year. They know ppl are going to be doing this and want that tax $$$ i believe. I only want to grow as much as i'm ready for. You gotta think through each move as it's like a mine field when starting anything these days. Don't rush....when buying ......or doing anything as a matter of fact. I found a 2001 GMC sonoma for $3500 when the value is around 6K with the miles it has. I did some little things to the truck to make it sellable and something that sells itself. I put a roll-on bedliner in and changed some bushings in the front end from stock rubber to polyurethane and it's a better ride. I should be able to re-sale it for what the market calls for. Little trucks = sell themselves i believe....if they're clean and clear....title/ looks/ engine etc...carfax....report checks out.....Than, i was in the walmart parking lot and i see a 94 Del sol that looked like hell on the outside, but i used discerment and it just needed a paint and better looking wheels. Sure enough, the guy was a medical student and a sharp dude. He had a medical center bumper sticker on the car and a computer generated sign on the dash. That told me he thought about this which mean't he probably thought about taking care of the car when he had it. Sure enough.... i met the guy and the car is immaculate w/only 108k miles for a 94....He asked 3k and i negotiated a paint job for $400 and brake pads for $100 and i got it for 2.5k$....It's blue booked @ 5k$ with the miles and condition....Now, i did this after reading the Auto academy manual entirely....Take some time and soak up the info....it's worth it!!!.....and you'll have a lotta-fun....i've got a lot to learn....thnx George.... Most states have the minimum sell limit you can sell cars before getting your license. I still get the car title in my name and get it insured. I don’t like doing that because in nc the state used to have the limit @ 5 cars per year…now it’s 10 per year. They know ppl are going to be doing this and want that tax $$$ i believe.
I only want to grow as much as i’m ready for. You gotta think through each move as it’s like a mine field when starting anything these days. Don’t rush….when buying ……or doing anything as a matter of fact. I found a 2001 GMC sonoma for $3500 when the value is around 6K with the miles it has. I did some little things to the truck to make it sellable and something that sells itself. I put a roll-on bedliner in and changed some bushings in the front end from stock rubber to polyurethane and it’s a better ride. I should be able to re-sale it for what the market calls for. Little trucks = sell themselves i believe….if they’re clean and clear….title/ looks/ engine etc…carfax….report checks out…..Than, i was in the walmart parking lot and i see a 94 Del sol that looked like hell on the outside, but i used discerment and it just needed a paint and better looking wheels. Sure enough, the guy was a medical student and a sharp dude. He had a medical center bumper sticker on the car and a computer generated sign on the dash. That told me he thought about this which mean’t he probably thought about taking care of the car when he had it. Sure enough…. i met the guy and the car is immaculate w/only 108k miles for a 94….He asked 3k and i negotiated a paint job for $400 and brake pads for $100 and i got it for 2.5k$….It’s blue booked @ 5k$ with the miles and condition….Now, i did this after reading the Auto academy manual entirely….Take some time and soak up the info….it’s worth it!!!…..and you’ll have a lotta-fun….i’ve got a lot to learn….thnx George….

]]> By: George Dean http://autodealeracademy.com/archives/81#comment-54 George Dean Thu, 24 Dec 2009 16:06:35 +0000 http://autodealeracademy.com/?p=81#comment-54 @ Richard Berger Listen to your gut. This is one of the primary tools you have for survival in the car business. What does your GUT tell you the answer it? Jumping the title is not legal unless you are a LICENSED car dealer/wholesaler/broker. However, it is done ALL the time, every day. That doesn't make it right. Double taxation is one reason for buying CHEAP cars! George @ Richard Berger

Listen to your gut. This is one of the primary tools you have for survival in the car business. What does your GUT tell you the answer it? Jumping the title is not legal unless you are a LICENSED car dealer/wholesaler/broker. However, it is done ALL the time, every day. That doesn’t make it right.

Double taxation is one reason for buying CHEAP cars!

George

]]> By: richard berger http://autodealeracademy.com/archives/81#comment-51 richard berger Thu, 24 Dec 2009 01:42:46 +0000 http://autodealeracademy.com/?p=81#comment-51 Can you legally sell the car without having it registered in your name? In other words buying the vehicle and transfering directly to your buyer in order to avoid having a double tax consequence. Can you legally sell the car without having it registered in your name? In other words buying the vehicle and transfering directly to your buyer in order to avoid having a double tax consequence.

]]> By: George Dean http://autodealeracademy.com/archives/81#comment-41 George Dean Fri, 11 Dec 2009 12:16:55 +0000 http://autodealeracademy.com/?p=81#comment-41 @ Brandon, Curbstoning is selling the car WITHOUT being a dealer OR WITHOUT it being titled in your name. Period. End of sentence. You must admit, buying a car that has been owned by a guy for one week INCREASES the risk that the car might have something wrong with it, right? George @ Brandon,

Curbstoning is selling the car WITHOUT being a dealer OR WITHOUT it being titled in your name. Period. End of sentence.

You must admit, buying a car that has been owned by a guy for one week INCREASES the risk that the car might have something wrong with it, right?

George

]]> By: Brandon Lewis http://autodealeracademy.com/archives/81#comment-36 Brandon Lewis Sun, 22 Nov 2009 13:35:31 +0000 http://autodealeracademy.com/?p=81#comment-36 I was wondering where the line is drawn between buying and selling from home, and being a curbstoner? If you are buying cars from the paper, craigslist, ebay etc and then reselling them, couldnt that be viewed as curbstoning? If you have a car that you just bought last week and are flipping, how do you respond to the "how long have you owned it" and "why are you selling" questions that people may ask to sniff out a curbstoner? It seems as if many of the questions listed under What to Ask? in the Curbstoner article, are questions with answers that may discredit someone doing low volume buying and selling from home... I have a few possible leads to move on that could get me rolling with selling from home, but the curbstoning article has me second guessing myself a little. I look forward to your response. Thanks, Brandon I was wondering where the line is drawn between buying and selling from home, and being a curbstoner? If you are buying cars from the paper, craigslist, ebay etc and then reselling them, couldnt that be viewed as curbstoning? If you have a car that you just bought last week and are flipping, how do you respond to the “how long have you owned it” and “why are you selling” questions that people may ask to sniff out a curbstoner? It seems as if many of the questions listed under What to Ask? in the Curbstoner article, are questions with answers that may discredit someone doing low volume buying and selling from home… I have a few possible leads to move on that could get me rolling with selling from home, but the curbstoning article has me second guessing myself a little. I look forward to your response.

Thanks,
Brandon

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