You do not have to pony up the cash to open up your own dealership though it is an option , and there are a variety of ways to get started, even if you are on a tight budget. The most traditional way to make money selling cars is to go to work for a dealership.
Established car salesman set their own hours, demand the highest commissions and many of them can work for several dealerships at the same time. I'm actually looking at buying a Chevy Colorado and have been looking around. So far, I've been very surprised at how low-pressure the dealerships are around here. Most of them operate like individual businesses inside the dealership, with their own clients, websites and employees. It's a nice balance of being able to use the infrastructure and established brand of the larger company, but still be able to be an independent businessman and enjoy some of those freedoms.
Expect to work long hours, six or seven days a week and most holidays though. Buying cars from auctions is one of the best ways to make money selling cars in my opinion.
Going to auctions can put you on a level playing field with big dealerships, because you are all looking at, and bidding over the same inventory. Sure, they may have bigger pockets than you, but everyone has to start somewhere.
And as with any industry, the little guys are often more flexible with what they can buy, and how they can profit from it. If you are smart and creative, you can always find deals that big dealers wouldn't even consider jumping on.
Dealer auctions are the best. But you can also find repo-auctions, auction lists and independent auctions.
If you can get into a good auction you can find pristine cars at wholesale prices. Buy low sell high. However, there are some nuances that come along with trying to buy cars from the auctions. For starters, the best auctions require you to have a dealers license. These are the dealer auctions. Each state is different, and everyone can sell some cars, but without a dealers license you are limited to a certain number.
In most states that number is somewhere around three to five cars. That being said, I've met more than a few guys that absolutely sell more than this number under the radar.
I sold my Tahoe to a guy that does this full time, and I'm quite confident he doesn't have a dealer's license. The guy down the street from me is always fixing up junkers into street rods as well, and I doubt he's doing it above board either.
The advantages for getting a dealers license is that you can literally compete with dealerships. Once you have the license you can go to the same auctions the big dealers go to. You can easily get this amount lowered depending on what type of business you start. If you go this route, you definitely need to start looking at this venture as a business rather than just a weekend hobby to make a bit of extra cash.
Check with the guys at LegalZoom , they are great with things like this. The best part time business in the UK right now is selling second hand cars. For starters the market for second hand cars is huge. The profit margins on a single sale are huge. Absolutely anyone can do it.
Your previous job…. Make money selling cars either part time or full time. This is one of the easiest ways of generating large amounts of cash and absolutely anyone can do it. When you become a car trader you can work from home, all you need is a phone and a driving license!
Low capital required although you do need some money of course. Every business needs that, even a window-cleaner! Only those who take action make the big money. I don't think it gets much better than that do you? Read more Accept X. Manage cookies. Make money selling cars. Do you want to make money selling cars? Take quality pictures of it, both of the exterior and interior. If you try to hide them, potential buyers may be put off by your dishonesty when they come in person and discover the faults.
There are many excellent online ad services that can put your classified on their sites for free. In the US, one of the most popular is Craigslist. Keep your description concise but detailed.
Include in it the year, color, make, and model of the car. Unless you have no other option, never negotiate over the phone. If a buyer is interested, have them come over to negotiate with you in person. This way, you would only have spent your time on serious buyers and even strike a better deal than expected.
Before the potential buyer comes, make sure to have everything ready before hard — the Bill of Sales, Carfax report, service documents, etc. Also, make sure to have towels and rags around in case the buyer wants to inspect the vehicle.
Once you arrive at a good deal, make the sale and enjoy your profit! Buying and selling used cars can be an excellent way to add an extra source of income.
Sure the initial investment may be a bit more than what most people may be comfortable with, but the profit you can potentially make it worthwhile. Your email address will not be published. Philadelphia, PA. Open Today! Sales: 9am-8pm. Call Us Today! Share this Post:. Step 1: Plan Your Investment Budget The first step, of course, would be to determine how much you can realistically spend on buying a car that you want to sell later.
Step 2: Research the Market Before you buy a car, it is crucial that you first research the market to have a fair estimate of its value.
Step 3: Look out for the Best Deals Play it safe and narrow your search to car makes that you know will sell well. Step 6: Car Inspection Now it is time to head over to the dealers and inspect their cars.
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