Advice on flipping used cars?

Answers:2   |   LastUpdateAt:2012-09-30 19:16:03  

Question
Rose
Asked at 2012-08-14 09:11:35
I'm thinking of taking a loan of $ 1000-2000 to start flipping craigslist used cars , and a local car auction . I'm fairly new to this process and I'm looking for advice and tips on how to buy cars for as cheap as possible and selling them for maximum benefit. Any advice and tips on what not to do that is appreciated
Answer1TahirAnswered at 2012-08-23 19:56:03
First, many of the cars on Craigslist is not as advertised and requires a thorough examination before purchase . You did not mention how much experience you have auto mechanic . It is also necessary to check the VIN and car game to avoid buying a stolen vehicle or significantly altered . Then there are vehicles built from parts crashed , usually called a " salvage title " a vehicle
worth much less money . MedlinePlus Finding quality vehicles at a low price and fixing minor things , along with a good cleaning is often a great way to make money . Just avoid the pitfalls mentioned and any " check engine light " - emission controls can be costly to repair and may indicate a more serious problem . You also need to make sure that the check engine indicators are working properly . MedlinePlus MedlinePlus Another thing to consider , many states have limits on how many vehicles can be sold in a calendar year , for example a number like 5, before you are considered a dealer . If you have a license or not. Being a distributor entails certain security guarantees in some states, although you do not have a license , a judge might find you are a trader only by the number of transactions per year. MedlinePlus MedlinePlus Good Luck .
Answer2DeNawQishaAnswered at 2012-09-30 19:16:03
Its not going to work . the Magins are too low , and if you do it legally , you have to pay sales tax on every car that passes through their hands . MedlinePlus MedlinePlus So unless you're a mechanic of buying cars that arent running very cheap .. find a new career
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