Buying and selling cars for profit can make you a lot of money and is a really fun full or part-time business that you can run from home, but here are 11 important things to avoid when you start buying and selling cars for profit. . ..
- Learn what questions to ask the salesperson when you call so you don’t waste time and gas driving all over the place looking at cars that clearly won’t make you any money.
- Learn what questions to ask sellers and what not to do.
- Learn when and how to start negotiating for a lower price.
- Be very careful about buying cars that have not been started in a long time.
- Learn what matters when inspecting a used car and what doesn’t.
- Learn how to properly test drive a used car so you have a good idea of its condition.
- When buying and selling cars (and especially for non-mechanics), you need to learn the difference between “expensive noises” and “cheap noises.”
- Don’t get sucked into a feeding frenzy with other buyers and pay more for a car than it’s worth.
- Don’t put more money and/or time into a car that won’t add to your earnings later.
- For pricing, familiarize yourself with the prices of similar cars in your area.
- Locate the best (and preferably free) sources to advertise your car.
Of course, there is much more to know about the business of buying and selling cars for profit, but with profits ranging from $300.00 to $3000.00 per car, it is a wonderful home business worth considering.
