How to Buy & Sell Used Cars
for Profit from Home
for Profit from Home
It’s pretty easy to make a $500 – $1500 profit per car. I will teach you step by step how to make this happen. Without a dealers license, you will be shopping the classifieds, Wal-Marts, weekend parking spots, and eBay for the deals. There will be a lot of legwork involved. Note: You must be careful not to buy from another curbstoner. I will teach you how NOT to do this!
The simplest way to do this is: buy cars locally and sell locally. It is done all the time! Either people are selling the car too cheaply, or you can recondition the car to make it sell for a higher price, or someone needs the cash NOW, …
And remember, people like dealing with people, NOT dealers. Be a person who sells a clean mechanically sound car at a fair price. Be reasonable and pleasant. There is no need to be a jerk! You can sell all the cars you buy by being pleasant.
Run the whole operation by yourself. No office, no employees! You keep all the profit. You find the car, you recondition the car, you sell the car, and you profit all the money!
It’s an easy business to run. You will be MORE knowledgeable than MOST people who come to buy the car. You KNOW it’s a CLEAN, MECHANICALLY sound car. You will buy cars that “Sell Itself”! You will not use high-pressure techniques at all. People will come to see your car on your schedule and at your convenience. It really is an ideal business.
Also, selling cars on eBay is a GREAT way to sell cars for profit while keeping your full time job. This is also a great way to run a stay at home business (for moms or retired couples). You spent the weekend looking for a car to buy, scanning ads online and looking in your paper, driving by spots where people park their cars for sale on the weekends, and then taking a ton of pictures of the car and posting the car on eBay. The buyer will come to you to pick up the car after they have won the auction.
Also, auto brokering is a great way to buy and sell cars if you have a home office. You arrange the buying and selling of new and used cars for a fee (or profit). This does require more of a selling/outgoing personality than the eBay method but pays just as well with great repeat business!
You can do this business. I will teach you everything you need to know to make it happen!
By far, the cheapest and lowest risk way to start making money in the car business is to start part time buying and selling cars a month from your home. You buy the car. Register the car in your name (some curbstone the car – discussed later). Recondition the car yourself. Park it at local Wal-Mart and/or advertise the car in a classified ad or on eBay. Sell the car. Pocket the profit. Buy another money maker!
Just retailing two cars a month, at a $500 profit each, will give you and your family an extra $1000 a month. Sell one car a week and pocket an extra $2000 a month. This is not brain surgery. It really is pretty easy to sell one car a week.
Although there are state limits you need to adhere to. Most states allow you to buy & sell four or five cars a year before you have to get a dealers license. Some people sell more and never get in trouble but there is a limit. Some states are more and some are less (like in Illinois you can buy & sell 12 cars a year!).
Once you get past your state limit, then its time to decide if you want to get your dealers license. Some people simply choose to buy and sell their state limit each year and use the money to buy Christmas gifts or go on vacations. Some people buy their state limit in their own name and then the state limit in their wives or husbands name and have a little business running. Some people even curbstone the car (not registering the car in their name) to get around getting a dealers license.
Getting your dealers license (covered in the Advanced Package) is not as expensive or as difficult as one believes. I know MANY people who do it for under $500 a month. The profit potential it the car business far exceeds $500 a month! Many people waste a lot of time trying to figure out how to get AROUND getting a license – if they would focus, they could see the larger picture.
Methods of Operation:
- Buying cars locally and selling locally
- Buying cars locally and selling on eBay
- Buying cars on eBay and selling them locally
- Buying and selling cars on eBay
- Auto Brokering new and used cars
Advantages & Disadvantages of Buying & Selling from Home
- You can start small without a dealer license.
- Allows you to start SLOW with little financial risk.
- You can take your sweet time inspecting a car.
- Can easily expand into retailing or wholesaling as your experience grows.
- You can start and stop the business anytime you want. Take 3 months off and it doesn’t matter. It is like a faucet, you can turn it on and turn it off.
- You will have to buy cars only from individuals. This may take some time and energy. Only licensed dealers can go to dealer only auctions.
- Registering cars into your name will eat at your profits since in most cases you will pay sales tax (although that’s one reason I preach buying CHEAP used cars – sales tax on a $800 car is very little!)
- Curbstoning is illegal. (Curbstoning is buy and selling cars without legally registering the car in your name.) Many people curbstone cars as a full time business.
- The state places a limit on the number of cars you can buy and sell. In some states it’s only four cars a year and some it is like twelve a year. However, if you are married, you can register four in your name and four in your wife’s name., and four in your moms name, four in your dads name, … Some people illegally curbstone cars to get around this law. Call your DMV for more information on your state limit.
Ten Commandments of Buying and Selling from Home
- Inspect each car thoroughly. Take your time. Keep your emotions in check! Don’t fall in love with a car. Don’t allow yourself to FORCE a deal to happen! Let the deal be SO awesome, you HAVE to say “yes!”.
- Start with just one type car and learn everything you can about it. In the study course, I tell you exactly which ones I recommend you start with!
- Specialize. Learn only one or two makes of cars and stick with them! Buy an “Edmonds Used Car Book” and keep it handy! Go to www.edmunds.com. Edmunds is GREAT for learning about the options on cars but not its value. (this is my personal opinion)
- Curbstoning is illegal yet profitable. I do not recommend curbstoning but some people do it anyways. Its done in every town in every county in every state every day!
- Keep your business a one person operation. Keep the profits yourself. Re-invest your profits into the business or go on a family vacation. Only hire someone when you KNOW you need the help.
- Do not buy project cars. Do not buy TMU, frame damaged, salvaged, or cars that smoke.
- Spend as little as possible on repairs as possible. Do as much as possible yourself.
- Buy & sell clean, mechanically sound, pleasant looking cars. I use the standard “would I allow my mom to drive this car for six months?”
- Sell all cars “AS-IS No Warranty”.
- Never finance anything until you get a lot! Accept only cash, cashiers check, or money order! Safety first, never show the car alone at night. Meet in a public place!