"I’ve been in the car business for nearly 15 years and I still learned a lot from your book. The info saved a lot of headache, frustration and money. Thanks so much. We are surviving during this recession using some of the concepts I picked up from your book. Very well written."
You can make good money buying and selling used cars in small towns, big ci…during roaring economies…and deep recessions…and you can do this anywhere in the free world.
The really cool thing is that the demand for used cars is ever-green, which makes the business of buying and selling used cars for profit one of the few true recession proof businesses.
Well, when you buy a new car and factor in the monthly payments, full-coverage insurance, gas, maintenance and repairs, its easy to see why even a "cheap" new car costing only $15,000.00 out the door has become totally out of reach for the average consumer.
So its no wonder that more and more buyers either can not afford to buy a new car, or they refuse to buy something that will lose HALF its value in the first 3 years!
I’ve received a few angry emails from people telling me I’m a scammer and full of BS because they say there is “no way anyone would sell a car for less than its worth.”
1) Seller doesn’t know car is worth more: If a seller doesn’t know how to price a used car (and few do), then the tendency is to throw an asking price out there based on a guess without knowing if its over or under-priced.
2) Seller knows car is worth more but they don’t care: People lead busy lives and cherish what little free time they have. That means some sellers don’t want to spend their entire weekend fielding phone calls and showing their car just to make an extra $500.00 or wver. So they sell it cheap and fast just to get it over with so they can enjoy the rest of their weekend.
3) Seller is desperate: I don’t know about you, but I’ve faced situations in my life where I was low on cash and had to pay bills…now! Well, sometimes the only way to get out of that bind is to sell something fast and cheap, and sometimes the thing being sold is a car.
4) Seller thinks car needs major repairs, but it doesn’t: I’ve bought lots of used cars for less than what the sellers could have sold them for because the seller umed their car needed major repairs…but it didn’t. They panicked and unloaded the car cheap because they thought “Oh my gawd, I better dump this pile now before it breaks down and won’t be worth anything!”
5) Seller knows car requires minor/major repairs and is open and honest about it: If its obvious a car needs repairs then most sellers know they will have to sell it for less.
6) Sellers car needs repairs and tries to hide that from you: Thats not a problem when you learn how to know the difference between expensive and inexpensive repairs.
7) Sellers car is stolen and seller will disappear the moment they get your money: Again, you can easily learn how to never fall prey to this kind of stuff.
8) Seller doesn’t care about making more when selling car: Believe it or not, there are some car sellers that just don’t care about making as much money as they can when they sell their car. Its mind boggling to me because some of these sellers are struggling with low paying jobs and could really use the extra $500.00 or $1000.00 they could have gotten.
9) The seller lacks intelligence: I guess you could argue that most of the reasons I just mentioned are due to a lack of intelligence. But hey, its not my place to p out IQ tests to sellers before I buy their car.
Stuff gets sold all over the world for less than market value. That stuff includes farm equipment, motorcycles, boats, houses, parcels of land, computers, businesses, toys, surfboards, bikes, snowboards and a million other things.
The bottom line is that learning how to buy low and sell high is THE rule for making serious money at this.
1) Crooked Used Car Sales People: The used car industry is populated by many (not all) sleaze bag crooks that would rip off their own mothers to make a quick buck.
2) You Need a Car Dealers License: The used car business requires that you have a car dealers license and it can be difficult and expensive in some areas to get one.
3) Secretive Business: The used car business has been shrouded in mystery for a very long time — thus making it a very difficult business to learn.
1) Crooked Used Car Sales People: Well thats easy, just don’t be like those guys…be HONEST!
2) You Need a Car Dealers License: Hold on their cowboy. Would you be interested if I could show you a simple, inexpensive and totally legal way to have ALL the advantages of operating with a car dealers license without actually having one?
3) Secretive Business: Its true that THEY don’t want you to know about the hugely profitable used car business, but I don’t care what THEY think, and besides…
THEY are usually known as used car dealers. Some are licensed used car dealers…and some are unlicensed used car dealers…but licensed or not…
The thing that matters at this point is that THEY don’t want you to know about the used car business because THEY selfishly fear the compeion…and THEY have been doing a good job… Read more…