buying and selling cars

gatorbait08 · Apr 26, 2011

Or in another term, flipping cars. Has anyone made money doing this? How hard is it to get a license to get into auctions? I don't mean buying old messed up cars and fixing them up, I mean buying good running cars under value and selling them.

Stylez · Apr 26, 2011

Good luck , you will be up against every car dealer in the area of the auction.
I bought and sold ATV's and Snowmobiles from Maine and New Hampshire to bring back across the border, sometimes double your money if you can find the right deals

gatorbait08 · Apr 26, 2011

Yea, I guess your right. I probably would just get the left overs after the dealers get what they want.

jb777 · Apr 26, 2011

gatorbait08 said:
Or in another term, flipping cars. Has anyone made money doing this? How hard is it to get a license to get into auctions? I don't mean buying old messed up cars and fixing them up, I mean buying good running cars under value and selling them.

You really have to own your own lot to be successful with this. I'm guessing your intending on selling them on E-Bay, Craigslist, Newspaper etc. Without an actual store this is very difficult.

gatorbait08 · Apr 26, 2011

jb777 said:
You really have to own your own lot to be successful with this. I'm guessing your intending on selling them on E-Bay, Craigslist, Newspaper etc. Without an actual store this is very difficult.

Even if your only selling one or two at a time?

taylor13 · Apr 26, 2011

gatorbait08 said:
Even if your only selling one or two at a time?

I've thought about doing the same thing, prob on a smaller scale though. I've been thinking about buying older trucks in the 2k range and selling it for maybe 3k. The Hispanics in Texas will buy these things as fast as you can get em, for work trucks. And for the most part, they all have cash money.

I personally think its a good idea, but I'm not educated on the taxes and everything that go with buying and selling a car. I'd be too scared to spend much more than that the first couple times

nhoj · Apr 26, 2011

Cars are good look for junkers people cant get rid of. Right now steel is high an dthe junk yards around here are paying about 650-1200 per car so if you buy one with a blown engine for $200 to 500 your gonna make money,,, Good luck buying running cars there in high demand and selling for way more than there worth.

Tico · Apr 26, 2011

I have a friend who does this; he travels a couple of times a year and brings back cars which he then resells here in Costa Rica for good profit. Does well. Would like to try similar some day as used cars sell quite well here.

hosnatcher · Apr 26, 2011

I think you can make a little pocket money buying classic cars. You buy an old mustang or camaro and drive it for 6 months to a year and then sell it for a couple thousand more than what you pay for it. Pretty much classic cars are worth as much as money as somebody is willing to pay for it.

sparticus · Apr 27, 2011

I am retired from the car business after 40 years, but still work part time for a used card dealer as a buyer/consultant. I go to one auction a week with the owner & also buy/sell online at a dealers only site. I did quite well when i was working full time as a salesman,mgr & owner. Cars especially the smaller ones are sky high right now because of the gasoline crisis. You really got to know what to buy so as to be able to sell it for a good profit, not a good time to get into it, unless you work with someone who knows what he is doing to give you the proper guidance, gl.