How to Make Money Buying and Selling Used Cars

How to Make Money Buying and Selling Used Cars

This might sound a little shady to some people, who conjure up shark-like images of the second-hand car dealer, ready to sell anything to anyone. In reality, with an extensive used car market, there are opportunities to make reasonable profits on the buying and selling of cars. For a person to be a competent car trader, he or she would have to know the business inside and out, be familiar with all the makes and models, and also be mechanically minded enough to diagnose problems.

The bodywork

Very often, the price of a used car is defined by the condition of the bodywork, so any scratches or dents would have an impact on the sale price. A dealer might spot a nice looking car that has met with a light collision, and after buying the vehicle, sends it to their local body shop to have the vehicle repaired. Once the bodywork has been completed, the car looks a much more attractive proposition, and with everything working as it should, a higher price can be demanded. If you have just bought a used car with a few dents and scratches, and are looking for services, such as panel and paint in Perth, there are reputable online repair companies that specialise in pre-sale overhauls.

Knowing the values

The second hand car market is huge, and if you want to become knowledgeable about cars, it is wise to stick to a certain type or classification, SUVs, for example, or perhaps hi-end sports vehicles, and as time passes, you will gain more experience, with some financial losses on the way. Most car buyers will have a notebook sized edition of an inventory of models, which are rated by year, and condition, to give the market value of that day. A car may be in very good condition (VGC), which means the bodywork is good, with no corrosion, or scratches on the paintwork. The vehicle would have a clean interior, with no visible marks or tears on the upholstery, and everything, including the windscreen washer, is fully functional.

Used Cars

An essential partnership

Once you have done your homework, and have selected the type of vehicle to trade, the next stage is to forge an alliance with a good bodywork repair company. They will take every car you plan to sell, and overhaul the vehicle, making sure there are no blemishes or scratches, and waxing the car, so it is ready for viewing. It is very hard for a buyer to haggle if the vehicle is in perfect condition, which means you are likely to sell at your target price.

Use technology

Whether you are looking to buy or sell used cars, social media, as well as local car sales websites, are your best avenues of sourcing and selling vehicles. You could even take a picture of a car, and send it to your bodywork people, asking them about cost, or perhaps a client is looking for a particular model, and by sending him the image, he can make a decision.

If you have attention to detail, and are familiar with prices, you could make your living buying and selling cars. Source a reputable bodywork specialist, and work together to produce first class vehicles that will fetch top prices.

Categories: Used Auto

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