If you are asking how to buy and sell a used car than I have to imagine that you are interested in buying a used car and then immediately selling it for a profit…Sound about right?
Sounds like a great idea and a great way to make extra money which many of us really need in today’s world. I can tell you as someone who successfully buys and sells used cars that it isn’t all peaches and cream however it is absolutely something that can be done.
I remember the first time I pulled this off, the first time that I bought a used car and sold it for a profit….What a sweet feeling that was, it was then that I realized that if I could do this once than I could do it again and again.
The key to buying and selling cars for profit has everything to do with buying right or should I say bidding right; the easiest way to do this is to buy your used cars at auction, this is by far your best chance of getting the vehicle at a price that will allow you to turn around and sell it privately for a profit.
Buying and selling used cars is a great way to bring some extra money to the piggy bank but you must realize that weather you choose to buy and sell used cars through auction, auto trader, private seller, e-bay or any other venue….you must follow a strict discipline and do solid research, your going to be part detective and part buyer.
Here are 3 keys to buying and selling used cars at public auction
Government auctions are the lowest risk of all the used car public auctions. For the most part these de-commissioned vehicles have been well maintained and the auction house can typically prove it.
1) Take nothing for granted; always require that service records be available no matter how thoroughly you or your mechanic has inspected the vehicle. If service records don’t exist and they almost always DO at Government auction then there are plenty of cars that will have these important records available.
2) “AS IS” When you buy used cars at auction you are always buying as is which means that you must inspect the vehicle in an almost paranoid way. This isn’t like inspecting a car from a rental company so they don’t blame you for scratches; this is a whole different animal. Consider using a call out mechanic service at first and learn from them the first couple of times, that’s what I did and they taught me everything I needed to know to do the inspections myself.
3) Always secure reliable car history, it’s just like buying a house from this perspective, you wouldn’t buy a house without conducting a title search would you? Most used car auction houses will provide you with a complimentary CARFAX report, if they don’t then you will need to secure your own, don’t under any circumstances skip this step…
So that’s it, buying and selling cars for profit is definitely something that you can do if you don’t rush in….