How make money selling used cars
The temptation to make a lot with a minimum of effort often leads people into the used car business. From the outside, everything looks very simple: I bought it cheaper, sold it more expensive, the fat in my pocket. In fact, this is a difficult segment that requires effort, patience, certain skills and character traits. Everything in order.
What you need to know to make money on car resale
In each country, the secondary car market has its own nuances. Somewhere it accounts for a large share, in others less, but the opportunity to make money on the resale of cars is everywhere. There are several schemes.
Buy cheap – washed, put in order, sold it more expensive
If you want to make money on this scheme, you need to be able to convince people, see their true desires and needs. You also need to have sales skills in social networks, on message boards. It’s good to be able to take beautiful photos, write selling texts that will convince a potential client that buying selling cars good money is the best option for him;
Bought, drove, tidied, sold
The scheme is more complicated, but the scope is wider. Finding a good car in another city or even a country is easier. But you need to take into account a number of nuances. If you have to drive the car too far, its price will fall, and the meter will wind up the mileage. In addition, it is necessary to take into account the wear of systems and parts, as well as the costs of travel, refueling, and food. It will be more profitable to transport a car on an auto transporter and make money buying selling used cars. More time, cheaper money. If you are planning permanent cooperation with one transport company, you can negotiate a discount on transportation for a regular client.
Bought, made minor repairs, sold
The most profitable scheme for working with expensive cars. As a rule, people who allow themselves a premium class have a habit of often changing cars for newer and more prestigious models. Especially if the car needs repairs, even minor ones. In this market segment, competition is lower, there are fewer cars, but there are also few buyers for such a product. On average, one car can be sold up to 2-3 months. Also, reputation is very important here. It is difficult to get into the ranks of dealers in luxury used cars. But that can make money selling used cars.
How much can you earn by reselling used cars?
Based on the results and experience of sellers from different countries, it was possible to derive rather general, but close to reality figures. They read:
- Cheap cars are presented in a wide range, are sold quickly, earnings per transaction are 6-8%;
- Middle class – it will take about a month to sell such a car, earnings on one sale are 8-10%;
- The executive class is the most difficult to work with, taking into account the specifics of sellers and buyers. We have already said above that the sale period is up to 2 months, but the transaction will bring income up to 15%.
You definitely need to know everything about cars. To be able to independently repair, paint, fix. At the first stage, you will have to get used to the weekend in the garage and constant hands in fuel oil. But earnings can be decent.