Making Money Buying Car Selling Cars

[thebikedoctor33]

How easy is it to make money buying and selling cars. Obviously you need a substancial amount of capital to get started. But, what cars should you look for? How do you know what will increase the value of the car more than what it costs to do. I'm just considering in. I would be doing any work, besides actual painting myself. Is it even feasable?

Thanks

[harrymay]

it can be done, and i know several people who successfully do it. im assuming your looking at buying one or two cars at a time fixing the problems and selling them to make a profit.

you just have to be good at an auction. and make sure you are not buying junk.

[thebikedoctor33]

yeah, fixing the problems... any pointers on what will make you money in the long run?

[harrymay]

i would say to buy older civics, corolla's, compacts in general.

those have the best demand out of all used cars. since they get good mileage, are generally reliable. and i know that they can be bought at auction for cheap. ive seen people buy a mid 90's civic sedan for around $1500 and then sell it for $3000+, and you really wouldnt have to do a whole lot of work to it.

i would warn you though. be careful about the amount you sell, otherwise uncle sam will hunt you down for money.

[drdisque]

you generally want to look for cars that the seller NEEDs to sell or cars that haven't been cleaned up before the auction that you're willing to clean up.

Most of the stuff at auctions is crap.

[harrymay]

if you look around, you can usually find something that someone just needs to get rid of.

[thebikedoctor33]

so mostly it comes down to finding really good deals... is ebay a good place to look for what you might get for a car? like i see one in the paper for 2k and they go on ebay for 4... so logic says buy it and sell it on ebay?

[harrymay]

Originally Posted by thebikedoctor33

so mostly it comes down to finding really good deals... is ebay a good place to look for what you might get for a car? like i see one in the paper for 2k and they go on ebay for 4... so logic says buy it and sell it on ebay?

you have to remember that ebay is an auction, although they may list a target price, they dont often get that. although it isnt a bad place to list the car.

[drdisque]

ebay is a good place to list a car that will attract attention or has limited appeal, but for average cars its not that great.