Start a Business Buying and Selling Cars to Make Some Extra ...

Lots of people attend car auctions that are open to the public in order to get a decent deal on a used car. Often you are able to save thousands when buying cars at seized car auctions. Many car dealers use public car auctions to pick up excellent deals and then sell the cars on with an extra $1000-$3000 added to the price tag. So as a part time business buying cars from auctions and selling them on for profit could turn out to be very lucrative.

So can I make money buying and selling cars?

The trick to starting a profitable business using the car auctions is to be able to pick out the gems. There will more than likely be a few cars at each auction which could make you a decent profit. In most cases when attending a seized auto auction you will get to preview the listings before the auction. This is where you can pick out the gems. For example the cars that have very low mileage, and popular makes and models. Once you attend a few auctions and get into the swing of things you will be finding bargains everywhere, meaning you will be able to sell them on for a decent profit.

The first thing you will need is access to an online car auction database. There are websites which offer access to a large database of every car auction happening around the country. Access to these databases usually cost around $40. Anyone serious about starting a business needs to have a car auction database membership in order to have access to all the auctions, since looking in the newspaper every week just simply doesn?t cut it.

Look for auctions that have listed ex government vehicles. In many cases a government department will be upgrading their fleet of vehicles and you will be able to grab a bargain as the vehicles will be well maintained and in good condition but going for an unbelievable price.

A huge selling point for used cars is low mileage. Before you attend an auction, check out the cars listed. Try to find cars under the 40,000 mark. Even if the car is more than seven or eight years old it will still sell fast.

Once you know which cars you want to bid on, check out what their market value is. You can use sites like eBay to find out. Once you know how much profit you will be making roughly you can set a maximum bid price.

To get started visit one of the biggest and best car databases in the USA: www.govcarauctions.us

Source: http://www.empowernetwork.com/alexgeo/blog/start-a-business-buying-and-selling-cars-to-make-some-extra-money/

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