You can earn a good income Buying And Selling Cars in small towns, big cities during roaring economies and deep recessions and you can accomplish this any place in the free world.
The really cool thing is the fact that demand for used cars is ever-green, which makes the process of selling and buying used cars for profit among the few true recession-proof businesses.
Well, when you purchase a brand new car and take into account the monthly installments, full-coverage insurance, gas, maintenance and repairs, it's very easy to see why even a cheap; new car costing only $15,000.00 out the door is becoming totally unrealistic for the average consumer.
Therefore, it is no surprise that an increasing number of buyers can not find the money to buy a new car, or they won't purchase something that will lose HALF its value within the first Three years!
Seller doesn't know car is worth more: If a seller doesn't know the way to price a used car (and few do), then the tendency would be to throw an asking price out there based on a guess not knowing if it's over or under-priced.
Seller knows the car is worth more, however, they don't care: People lead busy lives and cherish what little free time they have.
This means some sellers do not wish to spend all of their weekend fielding phone calls, and showing their car simply to make an extra $500.00 or whatever.
Therefore, they sell it cheap and fast to get it over with so they can enjoy the rest of their weekend.
Seller is desperate: I'm not sure about you, but I've faced situations in my life where I had been short on cash and had to pay for bills...now!
Well, sometimes the only way to escape that bind is to sell something fast and cheap, and often the thing being offered is a car.
Seller thinks the car needs major repairs, however, doesn't: I've bought a lot of used cars cheaper than how much the sellers might have sold them for just because the seller assumed their car needed major repairs...but it didn't.
They panicked and unloaded the car cheap only because they thought "Oh my God, I better dump this pile now before it breaks down.
Myths About The used Car Business
Myth 1: You should have a big car lot with massive overhead. Completely wrong! Reality: You could choose to get the low key and sell just one car at a time, or five cars at a time, or twenty cars...or perhaps a have a huge car lot with a hundred cars.
It really is your decision and what you want to do. It is advisable to start small. And for what its worth; I've never possessed a car lot.
Myth 2: You will need a lot of money to start out. Wrong! Reality: I started with just $400...but I've bought many cheap used cars...some for as little as $50.00.
And if you think I needed to put hundreds into those cars before I sold them... Wrong again! I'm thinking of one that required only $25.00 to get it ready for selling and sold for $600.00 (My profit = $525.00).
Myth 3: You need to have expert knowledge of cars. Wrong! Reality: I knew next to nothing when I started and still almost never get my hands greasy. Sure, knowing something about cars won't hurt, but common-sense is the important thing once you begin with the proper guidance.
Myth 4: The hours are generally long and difficult. Wrong! Reality: Having free time to accomplish other pursuits in my life besides work is vital to me, and it is part of that thing which makes quality-of-life a real possibility.
Myth 5: The real cash is made selling NEW cars. Wrong! Reality: You may be surprised to learn that a majority of those big shiny new car dealerships make very little profit from the sale of new cars.
Their highest earnings come from selling used cars. The money they make from new car sales is because they tack extra points on the loans, aggressively push aftermarket extra's like rust proofing, window tinting, extended warranties, etc., etc., however, their biggest profits result from Buying And Selling Cars.
The truth is, during this current recession there have been numerous old and very well-established new car dealerships that for the first time since they started their business have completely stopped selling new cars to focus on selling used cars exclusively. Go ahead and Google something such as new car dealers selling used cars instead
Myth 6: You will need to quit your day job to accomplish this. Wrong! Reality: The flexibility and time to yourself offered from selling and buying used cars enables you to maintain your current job forever if you want to keep it. It is a perfect part-time business (with a full-time income).
Myth 7: You will need superior intelligence. Wrong! Reality: I'm certainly not a college graduate and you'll come to see that I am no brainiac either. And given the choice; I would prefer to spend my time surfing perfect warm uncrowded tubes than working.
Myth 8: This business only works inside the U.S.A. Wrong! Reality: I've got readers from nearly every state in the U.S. (including Alaska, Hawaii & Puerto Rico), but my readers also span the whole globe: Canada, Australia, New Zealand, England, Ireland, Iceland, Norway, Sweden, France, Spain, Italy, The Czech Republic, AE (United Arab Emirates), Bahrain, Dubai, etc.
Myth 9: This is a difficult business to understand. Wrong, kind of... Reality: It's been difficult to learn...until now...but that's only simply because they were not ready to divulge their secrets. Well, now I'm in a position to spill the beans.
Myth 10: There's far too much competition. Wrong! Reality: Together with the ever present high demand for used cars, as well as over 625 MILLION cars across the world (and rising daily), competition will not be an issue...in particular the way I'm able to explain to you how you can accomplish this.
Myth 11: It's too hard and expensive to obtain a car dealers license. Wrong! Reality: You don't have to get a car dealer's license unless you want to and to get one suits what you would like to do with this.
You might want to start really small and will reveal an entirely legal way for you to sell and buy cars for profit with all the advantages of having a car dealers license without any of the disadvantages.
Myth 12: Nobody buys cars during a recession. Wrong! Reality: Generally new car sales slow to a trickle during recessions; however the used car business just keeps chugging along quite nicely thank you very much. selling and buying used cars just might be the perfect recession-proof business.
In conclusion, I feel this article on Buying And Selling Cars will get its worth once people like you feel that you have benefited from reading this. Take care.