Buying and selling cars is not going to be something that can be learned overnight. To become a true expert requires a lot of practice, but luckily you don’t need any special skills or training to start making money today. All you need is the ability of being able to negotiate that lowest price and then convert that bargain sale price into the highest profit you can.
The Ethics Behind the Business
Whether your aim is to buy and sell cars for profit or you are looking for some guidance on the subject matter, the advice I offer on this site I’ve gained from my own experiences having worked for over twenty years in the auto industry and I hope will be of some assistance to you.
The principal when it comes to buying and selling cars is exactly the same.
You NEED to BUY AS KEENLY AS POSSIBLE and you NEED TO SELL at the most reasonable price you can achieve.
If it’s a car that you just want buy to run around in and you’re not interested in profit, you are at an advantage because if the car ticks all the boxes and it’s just what you want, you can afford to pay more for it.
If it is profit that you are after though, you’ll need to buy at the lowest price you can get. Unfortunately though, when it comes to some of the more popular models, getting the price down just isn’t going to be possible. This is especially true if they’re low mileage, well maintained and with a sound service record.
The seller will know from the interest he’s had from callers off his ad. He’s not likely to want to reduce the asking price if you are the first one to view.
If a cheaper than average selling price he’s set, his phone is going to be red hot with potential buyers for his car. Why would he want to sell it cheaper to you if there’s possibly someone else willing to pay more? So it figures that unless you’re really lucky you’re not going to get the car at a knock down price.
The Waiting Game
If the owner is not willing to negotiate on price, then there’s no point in continuing the conversation. If he isn’t, then you don’t want to waste any more time talking to him. Leave your phone number with the guy and walk away. Allow other potential purchasers to take a look and let them whittle him down.
The More Popular Models Will Always Sell Much Faster
It’s something of a dilemma, but remember if it is a popular model that’s up for grabs, if you do buy even at the full asking price, provided that purchase price isn’t ridiculously high, there may still be a small profit to be turned. Popular models with a clean title history, always sell far more readily. Remember, in some circumstances stick shifts can command a lower value than their automatic version stable mate.
A Few Pointers
If you are contemplating the purchase of one of the many cars for sale, it is vital that your choice is the wisest possible. Remember that its going to be a fairly large investment. When buying a used car, choosing the right one is going to need considerable consideration and thought.
All in all, there are some things that you should consider before making a decision.
The first thing that you have to do is make sure that you know what kind of vehicle you want. If you don’t know, then you can always ask someone who does. It will also help if you are able to get an idea of what type of car you would like from looking at the pictures on the internet or even seeing one in person.
The purchase and sales of cars should be stress and problem free, but normally because of lack of experience this is rarely the case.
From experience I can tell you that there are many things that can go wrong when buying or selling a car.
When you buy a used vehicle from someone else, you will need to do some research on it before purchasing. If you don’t know what you want, then you may end up with something that doesn’t meet your criteria. You might end up spending more money than you expected, or worse
If you follow a few simple straightforward rules then it minimizes the risks and possible pitfalls encountered by many when they come to buying or selling.
With an ever increasing selection of vehicles to buy from and with so many sources, finding the ideal choice can be a daunting process. It is vital that you spend some time working out what car you really want.
First impressions are so important when buying used. Check out and research the vehicle you are contemplating thoroughly beforehand. There is plenty of info out there. Car forums and car guides abound on the net.
• What the car going to be used for – what purpose is it to serve?.
• How many passengers are to be regularly transported.
• The insurance category and fuel type.
• If you have a car which you need to re-sell, calculate its value with one of the car guides.
Then decide whether to dispose of it privately, trade it in to a dealer, or sell it to one of the more reputable vehicle purchasing companies. Watch out for the shady business though.
• Decide if you will have to apply for finance before you can buy another vehicle.
Just a quick note to thank you for the valuable information you posted online. I sold cars years ago at a well known Ford Dealership in Colorado but feel a little “rusty” now. Your website has helped “freshen things up” for me. I love cars and have always been good at selling and everyone who knows me thinks this is a brilliant idea. Since I’m not mechanically inclined, I’m particularly interested in the technical advice you have to offer on things to listen for and look for. Over the years, I’ve picked up a few things but you provided a few more suggestions that I found helpful.
Thank you again.
My wife and I are just trying to get into this trade of buying and selling/flipping cars. Any literature you could send us would be greatly appreciated.
Hello, Is there a website or other resource for locating specific and difficult to find cars or trucks?
I have been looking for months now for a 2013-2014 Toyota Tacoma PreRunner Access Cab 2wd with a 2.0 6 Cyl. It seems that this model is not available but I have seem them, and would like to find one.
Randy, I am a truck driver and I am looking for semi truck. So you have any?
I have a total of $1,000 to start with. And I would like to buy and sell cars. Where should I start? Thank you. Larry
I have some Ferrari Compagnolo rims need to sell and I don’t know if I should sell them via Craigslist or Ebay. Which is better? ( I know customers can be frivolous and return items on Ebay and I would have to pay the shipping versus Craigslist where they would merely have to drive back to my house to return them. )
I thank you kindly,
We have two cars sitting in the yard. The 91 ? Volvo was running but may not be now. A well maintained 2006 Honda Civic is not running. and the engine may need to be replaced. This is a nice website. Perhaps I can find someone to take them to fix up. My husband is tired of fixing up cars. These cars are NE of Austin, Texas.
I want to buy a used Lexus Rx330. How do I get started?
We have a 2006 Cadillac SUV with a new engine, new tires..135,000+ original miles including miles from old engine… how much would you pay us?
Also a 2012 Cadillac CTS 37,443 miles. In perfect shape.
Thanks for getting in touch. A few years ago, I’d have jumped at the chance of making an offer, but I’m now long retired.
I suggest you try offering it on an online platform such as Facebook marketplace or Ebay.
Good luck with the sale.