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 operate from home, but here are 11 important things to avoid when you start to buy and sell cars for profit…
- Learn what questions to ask the seller when calling so you aren’t wasting your time and gas driving everywhere to look at cars that clearly won’t make you money.
- Learn what questions to ask the sellers and what not to ask.
- Learn when and how to start negotiating for a lower price.
- Be very careful about buying cars that haven’t 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 get a good feel for its condition.
- When buying and selling cars (and especially for non-mechanics), you must learn to differentiate between “expensive noises” and “inexpensive noises.”
- Don’t get caught up in a feeding frenzy with other buyers and pay more for a car than what its worth.
- Don’t put more money and/or time in a car that won’t add to your profit later.
- For pricing, familiarize yourself with prices for similar cars from your area.
- Locate the best (and preferably free) sources to advertise your car.
Of course there is a lot more to know about the business of buying and selling cars for profit, but with profits that range from $300.00 to $3000.00 per car, it is a wonderful home business worth looking in to.