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How to Start a Car Flipping Side Business

Survey the Landscape

The easiest way to start a car-flipping business is by going after local buyers. Getting a handle on the most popular used cars and trucks in your immediate area should be pretty easy. Zeroing in on the best price points to pursue is a little trickier. Request used car sales statistics from the department of motor vehicles to get a clearer picture of industry trends in your state. Once you’ve accurately gauged local demand, you can come up with an effective business plan.

Devising a Strategy That Works

There are a number of different ways to build a car-flipping business that consistently rakes in the dough. Most flippers buy a used car, register it and sell it to the highest bidder within a short time frame. Cars and trucks that can be sold for between $2,000 and $4,000 are a good place to start. You can move on to more expensive models later once your business is on firm ground. It’s also wise to specialize in a particular class of vehicle such as sub-compact sedans when you’re first starting out.

Start-Up Costs to Consider

Depending on where you live, starting a car-flipping business can cost as little as $500. Every jurisdiction has a limit on how many cars you can flip before you’re considered a dealer. If you have to register as a dealer, start-up costs can rise significantly. You should have at least $2,000 on hand when you get started to ensure success. If your credit is decent, you can borrow that first car payment from your local credit union.

Required Resources and Materials

At a minimum, you’ll need a home office to keep track of expenses and revenue. A decent PC, an all-in-one printer and a filing system for hard copies of paperwork will suffice. You’ll also want a garage to store cars while they’re waiting to be sold. A few cleaning products like Armor All wipes and a shop vacuum are a must. If you plan on tuning up cars before you re-sell them, the usual tools like floor jacks and ratchet sets are required.

Being Aware of Laws and Regulations

To begin with, many states have restrictions on how many cars you can own in any given year without being considered a dealer. In Vermont, the limit is 12. In other states, flipping more than one car in a calendar year is enough to qualify you as a dealer. Research your local regulations and base your business in a neighboring state if need be. Look up the tax ramifications of selling cars for profit before you start.

Protecting Yourself from Liabilities

The key to making it in the car-flipping game without suffering show-stopping setbacks is paperwork. When you buy or sell a car, you need to establish a rock-solid chain of custody via registrations and bills of sale. Have a local attorney advise you on the best way to draft sales contracts to ensure that you don’t have problems down the line. Know that there’s a de facto “lemon law” called the warranty of merchantability that’s applicable to car sales made by dealers.

Making the Right Business Contacts

Most successful car flippers rely on the expertise of a few different specialists to make wise decisions. If you’re not great at fixing cars, find an affordable mechanic that you can trust. A competent lawyer can help you to navigate various local laws and ordinances. Local business owners can be a great way to funnel customers to your venture. The point is that you should network with as many professionals as possible.

How to Find the Right Cars to Flip

Tracking down the actual merchandise that you’ll be selling is pretty simple. Craigslist is the best way to get the goods since you can negotiate pretty easily if you know what you’re doing. Use Google Alerts to notify you of cars that meet your criteria. Government auctions are another great way to find amazing deals on used cars. Use sites like SaferCar and Lemon Checks to vet potential purchases to avoid being scammed on damaged vehicles.

Where to Sell the Cars

The best way to move cars is by listing them on digital exchanges like Craigslist, Autotrader and CarGurus . If you want to accelerate the flipping process, you should meet prospective buyers at their homes or workplaces for test drives. Parking cars next to main thoroughfares with a “For Sale” sign in the window is another way to go. Get to know local business owners that will allow you to use their lots to display your cars.

Operational Issues & Tricks of the Trade

It should go without saying that you’ll get a better price on your vehicles if you give them a makeover before you flip. You should sign up for member accounts with parts vendors like Advance Auto and AutoZone to get discounts on windshield wipers and cleaning supplies. When listing your cars online, take many high-quality photos of your merchandise to attract only serious buyers. Give yourself some breathing room in the cash reserves department to avoid being forced to sell at a loss.

Marketing the Outfit the Right Way

While you don’t need to brand yourself or your operation to succeed in the car-flipping game, doing so can substantially boost your profits. You should set up a basic site where you can list cars that you’re currently selling using WordPress or Squarespace. Printing up a few business cards that you can hand out is never a bad idea. The idea is to establish your reputation as a reliable source of decent used cars at fair prices.

Growing the Business Incrementally

If you want to earn more while working less, flipping increasingly pricey vehicles is a wise idea. If you sell just one car per month at an average profit of $3,000, you’re looking at a healthy side income. You can quickly go from flipping vehicles in the $4,000 range to selling luxury models that run $30,000 by consistently reinvesting profits in the business. However, you may find that sticking to the lower end of the used car price range is more lucrative.

Taking the Business to the Next Level

At some point, you may want to make your car-flipping concern a full-time business. To do so, you’ll need to become a registered dealer. This will typically require a license from your state and a surety bond at the very least. You could also stretch your income by tracking down cars for other vendors and earning a finder’s fee. At the end of the day, there’s no limit to how much money you can make flipping cars if you keep your eyes peeled for deals.

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Used Auto Sales Business Plan

Start your own used auto sales business plan

Integrity Auto Sales

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">, auto sales & parts.

There is a need in Lane County for a large selection of quality used cars, and Integrity Auto Sales will sell these top-quality used vehicles at a competitive price. The owner and sales manager have over 30 years of combined experience in new and used auto sales. We will continue to develop our excellent working relationship with local dealers and auctions to bring the savings to the customer.

We will create a purchasing environment that caters to the customer’s needs. We are selling a professional service and an experience in car buying that will bring customers back again, as well as referring friends and family. We estimate an optimistic gross margin over the industry average. We will be successful because of the excellent team we have assembled and the drive and determination of the owners.

Almost everyone needs a car to get from point A to B. Many families have two or more cars. Due to the recent success of the new car market, there is a large inventory of used cars available for re-sale. New car sales have enjoyed the largest single month gain in October up 24%.

Competition

Used car dealers are notorious for unethical sales practices. Customers are inherently cautious and untrusting as a result. The more we can provide a high-quality sales experience, the more successful we will be. Our salesmen will provide a friendly and personal experience for the buyer. We will follow up and ensure customer satisfaction. We will rely on these customers for an excellent reference to other car buyers. This company will build an excellent working relationship with our suppliers and customers.

Integrity Auto Sales provides a unique car buying experience to the customers in the Willamette Valley. One that focuses on customer satisfaction first. We understand that vehicle purchasing is a necessary, but sometimes unpleasant experience. Our goal is to provide the customer with an enjoyable, honest service by satisfying individual customers practical transportation needs with a quality product.

We also believe it is important to have quality vehicles at a low cost, and will back each vehicle with a 30 day limited warranty. Our company will make a profit by generating sales. It will provide job satisfaction and fair compensation to its employees, and a fair return to its owners. Hard work and performance is rewarded through bonuses and commissions. Job satisfaction is very important for employees and owners, we will create a work environment that is enjoyable and profitable for all.

Expectations

Growth will be moderate to good, cash flows steady with several months of loss in the beginning
Marketing will remain below 10% of sales.
The company will invest residual profits (10%) into financial markets and approximately 50% into company expansion for the first year.

Financial Highlights by Year

Financing needed.

We need $130,000 funding to start. That includes a $100,000 loan. Jonathan will invest $20,000 and Don will invest $10,000.

Opportunity

Problem & solution, problem worth solving, our solution, target market, market size & segments.

4.1 Market Segmentation

Our market segmentation will consist of four basic segments; students, retired, families, and singles.

Current Alternatives

Our closest, similar competitors are AA Auto Sales, Big Apple Car Sales, Frank’s Auto Place, Guaranty, R & L Motors, and Sierra Truck, all on Hwy 99 between Eugene and Junction City.

The primary competitors will be those in and around Junction City. Guaranty is a large, well-established dealer, with approximately 75% of the local market share. Guaranty has a large operation with a well-trained sales staff. Our sales manager is a former Guaranty sales manager, who understands the competition’s operations very well.
Frank’s Auto Place offers a limited selection, and appears to be unorganized. Frank’s does not offer any competitive marketing and primarily focuses on the $1-2,000 vehicle.

Our Advantages

Keys to success.

To succeed in this business we must:

Put together a team of experienced professionals.
Secure an excellent high-traffic location.
Establish a network of suppliers, in order to buy and sell products that are of the highest reliability and quality, at a competitive price.
Ensure customer satisfaction by encouraging the two most important values, honor and integrity.
Create high morale by rewarding employee success with monetary compensation.

Marketing & Sales

Marketing plan.

Our marketing strategy will focus on four segments. Those segments are described in the following subtopics. We will implement a strategy that treats customers as a community. This means our marketing resources will be centered around advertising both sales promotions (events) and personal sales (customer service, friendly atmosphere).

The marketing budget will not exceed $6,000 per year.
100% customer satisfaction, measured through repeat customers, referrals and surveys.
To achieve a respectable profit margin within the first three-years.
To achieve a healthy net profit by year two.

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The retired group will focus on practicality. Cost may be less important than quality and features. This group wants comfortable, nicely equipped vehicles at a reasonable price. They will want a vehicle that will last for years.

Families will focus on safe, practical vehicles. Something that will last for years, can fetch groceries, carry the kids, and perform long trips. Many will be on a budget, and price may be a big factor. They will shop around and educate themselves on vehicles, shopping for a specific make or model.

The last group is the singles . They are similar to the students in that they want flashly cool cars, but may be a working professional who can afford to pay more for a higher-quality vehicle.

Sales compensation is based on a percent of profits. We will invest adequate time and resources into training each member of the sales team and into good customer relations. Salesmen will be paid a portion of their salary based on commission. Good performance is rewarded with increased commission and bonuses. However integrity will not be sacrificed for sales. Customer satisfaction will continue to be a top priority. All potential sales will be attended to in a timely fashion and long-term salesperson-customer relationships will take precedence over sales closure.

Locations & Facilities

The company office is located at 12345 HWY 99, Junction City, OR 97666.
The office is approximately 1,000 square feet and has ample space for the first three years of growth.
The 20,000 square foot lot and building is leased from the principal owner.

Integrity Auto Sales sells top-quality used vehicles at a competitive price. Integrity buys pre-inspected vehicles wholesale from well known local car dealers, and auto auctions. Integrity continually maintains a diverse stock of vehicles, providing the widest selection for individual needs.

Vehicles are purchased weekly, to add to the current stock on hand. Each vehicle is thoroughly inspected by an ASE mechanic with over 25 years of experience. Only vehicles that pass this critical 26 point inspection are sold on-site.

Integrity Auto Sales sells all types of used vehicles, from sports cars to RVs. We cater to each customer individually, to satisfy their own practical needs. We buy only the best used vehicles at or below wholesale in order to bring the savings to the customers. Each vehicle is thoroughly inspected by an ASE mechanic with over 25 years of experience. We also offer an auto finding service to customers. If we do not have the vehicle they want in stock, we will find one for them.

Milestones & Metrics

Milestones table, key metrics.

Our key metrics are:

# of facebook posts and pageviews
# of tweets and retweets
# of reps that meet and excel their quotas.
cogs of our most popular cars
website page views and shares
Follow our customers figure out their favorite cars and features

Ownership & Structure

Integrity Auto Sales is a privately held corporation. It will be registered as a Subchapter S, with ownership 60%-Jonathan Dinsmore, 40%-Don Mazzioti.

Management Team

Integrity will start with four initial employees. The owner will manage over all operations and the sales manager will manage all buying and selling of inventory. A records clerk and lot attendant will also be hired initially.

Once the gross margin and cash flow will support it, we will hire an additional salesman and lot attendants (tentatively four to six months).

Personnel Table

Financial plan investor-ready personnel plan .">, key assumptions.

We will accept credit cards and trade-ins of any value. Credit cards will have a negative affect on cash flow in that we may not be paid for several days. Trade-ins will also impact cash flow in that they are an asset and have no real value until sold. We will have to limit the number of credit transactions, and only take in quality trades at a wholesale price to facilitate turning a quick profit. The personnel burden is very low because benefits are not paid to part-timers. And the short-term interest rate is extraordinarily low because of current market rates.

We also assume conservative earnings from selling loans and extended warranties will be made.

The other assumption is that current market conditions will remain for the next two to three years. Low rates will have a positive impact on sales and lending for the short term.

Our cash forecast is extremely unrealistic at the far end of the forecast. We leave it like that knowing that we will revise over time. We call it a cushion, and reassurance, not an accurate forecast.

Revenue by Month

Expenses by month, net profit (or loss) by year, use of funds.

Almost 90% of start-up costs will go to assets. Start-up costs will be financed through a combination of owner’s investment, short-term loans (VA business loan), and long-term borrowing. The start-up chart shows the distribution of financing.

Other miscellaneous expenses include:

Legal fees for business establishment (ownership, and no sell agreement).
Stationary, office supplies.
Marketing/advertising fees.
Initial consultation to establish records with an accountant.
Rent for lot and office.
Establish a Web page for advertising.
Expensed equipment (two computers, two desk, Fax/copier, phone lines, and office furniture).
One month initial start-up investment in vehicles.

Sources of Funds

We will be needing $130,000 to start. $100,000 will be a long term business loan. Jonathan will give $20,000 and Don will give $10,000.

Projected Profit & Loss

Projected balance sheet, projected cash flow statement.

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How to start your used car business by utilizing APIs

March 9, 2024

Joses Peter

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If you’re considering going into the used car industry, you’re entering a lucrative yet competitive market. Understanding the ins and outs of starting your own used car business is crucial for success.

In this guide, we’ll walk you through the steps to start a used car dealership business, from understanding the industry to leveraging API technology to maximize efficiency and profitability.

Used Car Dealership Business

Operating a used car dealership business involves buying, selling, and sometimes trading used vehicles. Simply put, it’s a place where you can purchase or sell a used car. It’s a dynamic industry that requires a deep understanding of automotive market trends, customer preferences, and legal regulations.

Steps on starting a used car business

So, how can you get started? Here are the basic steps to follow to set up your dealership:

Think and act like an entrepreneur

Starting a car dealership comes with the understanding that you’re about to become an entrepreneur and need to prepare your mindset for that. Not only that, you need to make some serious changes to your lifestyle as well. Check out how other entrepreneurs act and think, you can also take entrepreneurial classes. Taking this step before any other gives you a sense of detail and responsibility.

During this process, you should focus on getting experience with selling cars, business license requirements, and surety bonds, and you’ll need to learn the difference between selling new cars and used cars – as a salesperson, working side-by-side with dealers, whatever role you can get, try to get one. It’s best to start on the right foot.

Arrange Capital for Startup Costs

Every small business for new and used car sales needs funds, and before starting up a used car business, you need to find a way to get some means of funding. Apart from the car inventory that you definitely need to build, you also need to cover startup costs for:

Business registration
Car dealer license
Office supplies and furniture
Workers; salespeople, accountants, etcetera
Website and mobile applications with Vehicle APIs .
Marketing, and more.

You may also encounter lots of expenses during startup, so you need to consider costs.

Choose market location

The next step to take in owning a car dealership is choosing the right location for your used car business. There are several factors you need to consider before choosing the right location to set up your dealership, the most important of which is the current market trend.

What kind of cars are more profitable to invest in the long run? What is the demand for those cars now? Where do you see demand in the coming years? What age group are interested in these cars? What about income levels? Ask yourself questions like these to figure out what vehicle brands or types of cars your dealership will be centered on.

When you figure out what your niche should be, you can now start searching for a suitable location to launch your business. Make sure to be very careful when making this step as it is a really important part of your business’ journey.

Create a solid business plan and set financial goals

Creating a comprehensive business plan is essential for success in the used car dealership industry. This foundational document serves as a roadmap, guiding entrepreneurs through all they need to start, grow their businesses, and meet their business needs. To begin, entrepreneurs must clearly outline their:

Company details , including their vision, mission, and values. This clarity helps set the tone for the business and aligns all stakeholders towards common objectives.

T arget market area, this is crucial for identifying potential customers and tailoring marketing strategies accordingly. Whether focusing on a specific geographic region or niche demographic, understanding the target market’s needs and preferences is paramount for success.

Clear financial goals and strategies for growth. Entrepreneurs must define measurable objectives, such as revenue targets, profit margins, and market share aspirations.

By establishing these benchmarks, businesses can track their progress and adjust strategies as needed to stay on course. Additionally, outlining strategies for growth enables entrepreneurs to identify expansion opportunities, whether through diversifying inventory, expanding into new markets, or enhancing customer service offerings.

You can consider yourself halfway through the process as soon as you complete your business plan! Next, you should think about how you can make a profit with the business.

READ ALSO: 5 Types of Vehicle Data API Every Dealership Needs

Making Profits in the Car Dealership Business

Now that you have everything scripted and figured out, the next step is to decide how to get cars to fill up your inventory and how to make profits. This involves sourcing vehicles, implementing sales strategies, getting a website/mobile applications, and optimizing operations for profitability and growth. Let’s take a look at these points in more detail:

Locate car auctions exclusive for dealers

Now, the used car dealership business model involves buying used vehicles at a cheaper price and selling them with some profit. For startups, the easiest way to get great deals is by visiting dealer-only car auctions around you. These cars are usually sold at cheap rates and discounts to licensed dealers and you can take advantage of this.

Sure, these cars may come as damaged, but that’s where the next step comes in.

Have an experienced mechanic

Next, you can partner up with an experienced mechanic with good knowledge in inspecting and fixing the cars on your used-car lot. Some auction vehicles may have severe damages, so it is recommended to place the highest importance on this step.

With these vehicles properly fixed and in road-worthy condition. You can now begin sales.

Provide Warranties on Your Vehicles

I know what you may be thinking. Including warranties as extra-cost add-on products means that these vehicles will be more expensive than planned and car shoppers may not like that. Wrong!

Contrary to popular belief, around 66% of American drivers purchase an extended car warranty. Offering warranty coverage also gives consumers some protection, in terms of repairs.

Create a website/mobile application and utilize APIs

Creating a professional website or mobile application for your auto dealership is essential and must provide accurate information about your business. However, ensuring accuracy in providing vehicle data is paramount. By utilizing APIs, you can access real-time and reliable information about each vehicle in your inventory.

What are APIs? They are like bridges between you and an infinite source of vehicle information. Vehicle Databases offers several vehicle APIs including:

VIN decoding APIs
Vehicle history APIs
Market value API
Vehicle specifications API
Classic VIN decoding API
License plate API
Auction history API
Sales history API
Vehicle media API, and more

Imagine showing your customers everything they need to know about all vehicles in your inventory with the VIN and integrated APIs. This ensures transparency and builds customer trust, leading to increased sales and customer satisfaction.

Accuracy vehicle data also streamlines the buying process, reducing the likelihood of disputes or returns. Need more information on APIs and how you can get started? Get a free demo and 15 free credits now!

Place Adverts and Build Your Online Presence

At this point, you need to get the word out to get a successful business. You can start by using advertising channels to reach potential customers. Consider online platforms like Google Ads, Facebook Ads, and local classified websites. Additionally, explore traditional methods such as newspaper ads, radio spots, and flyers.

Leverage social media platforms (e.g., Instagram, Facebook, Twitter) to showcase your inventory, share success stories, and engage with your audience. Regularly post high-quality images and videos of the cars you have for sale.

Calculate a “Bottom Dollar” for Each Vehicle

Determine the lowest price at which you’re willing to sell cars in your inventory. Consider factors such as acquisition cost, refurbishment expenses, and desired profit margin. Be realistic about market conditions and adjust your pricing strategy accordingly.

Try to stay informed about market trends and competitor pricing. Analyze similar vehicles in your area to understand the prevailing rates. Remember that pricing too high can deter buyers, while pricing too low may impact profitability.

Prioritize Customer Service

Here are some tips:

Free Inspections and VIN Reports: Offer free vehicle inspections or provide Vehicle Identification Number (VIN) reports. These services build trust with potential buyers and demonstrate transparency.

Integrated Vehicle History APIs: Use APIs (Application Programming Interfaces) to access vehicle history data. Share relevant information with customers, such as accident history, maintenance records, and ownership details.

Hire Assistants and Salespeople: Invest in a skilled sales team. Friendly, knowledgeable staff can guide customers through the buying process, answer questions, and address concerns. Excellent customer service leads to repeat business and positive referrals.

Keep the car lot and showroom neat and attractive

The last tip for the day is to keep your used car lot and showroom organized and visually appealing. Arrange vehicles in an orderly manner, ensuring they are clean and well-presented. Regularly wash and detail the cars to enhance their visual appeal.

If you can keep these in mind, you can be sure to have a good start and operate an independent car dealership successfully.

Statistics About Used Car Dealerships

Total used-vehicle sales in December 2023 were estimated to be around 2.6 million units, up 2.1% from December 2022.
Retail used sales accounted for approximately 1.4 million units.
The average car dealership receives 166 qualified sales leads each month.
Approximately 13.3% of sales prospects do not make it into the car dealership’s Customer Relationship Management (CRM) system.
The average close rate for car dealerships is 12.5%.
Car dealerships miss approximately 8.5% of calls from potential sales prospects.
In 2023, franchised light-vehicle dealers in the United States sold 13.7 million light-duty vehicles, contributing to a total sales value of over $1.2 trillion.
The U.S. used car dealer market had a size of $138.1 billion in 2021. Despite initial pandemic-related challenges, used car sales rebounded and exceeded pre-pandemic levels.
The overall used-vehicle market likely finished 2023 near 35.9 million units, slightly below the previous year’s figure. Retail used sales likely closed out 2023 at 19.0 million units.
Cox Automotive forecasts used-vehicle sales volume to reach 36.2 million units in 2024, with used retail sales estimated at 19.2 million units. The market is expected to regain some normalcy, although supply constraints may persist due to lower new-vehicle sales in previous years.

Frequently Asked Questions

Used car businesses can be highly profitable for dealers, with successful operations generating significant revenue. However, profitability depends on various factors such as market conditions, inventory management, pricing strategies, and customer service quality. You also need to be able to provide accurate vehicle information to consumers at all times. Visit Vehicle Databases to get access to accurate APIs for your business needs.

To succeed in the used car business, it’s essential to prioritize customer satisfaction, maintain transparency, and offer quality vehicles at competitive prices. Additionally, staying informed about market trends, investing in marketing efforts, and leveraging technology like APIs can contribute to success.

Yes, buying and selling used cars can be a profitable venture. By sourcing quality inventory, accurately pricing vehicles, and providing value-added services such as warranties and inspections, dealers can generate profits from each sale.

Owning a used car business has the potential to be profitable, but success depends on various factors including market demand, competition, location, and operational efficiency. By implementing effective strategies, offering excellent customer service, and staying adaptable to market changes, dealerships can achieve profitability and long-term success in the industry.

Car Dealership Business Plan Template

Written by Dave Lavinsky

Growthink.com How to Start a Car Dealership

Car Dealership Business Plan

Over the past 20+ years, we have helped over 4,000 entrepreneurs create business plans to start and grow their car dealerships. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a car dealership business plan template step-by-step so you can create your plan today.

Download our Ultimate Car Dealership Business Plan Template here >

What Is a Car Dealership Business Plan?

A business plan provides a snapshot of your car dealership as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for Your Car Dealership

If you’re looking to start a car dealership or grow your existing car dealership you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your car dealership in order to improve your chances of success. Your car dealership business plan is a living document that should be updated annually as your company grows and changes.

Source of Funding for Car Dealership Businesses

With regards to funding, the main sources of funding for a car dealership are personal savings, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.

The second most common form of funding for a car dealership is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan.

Finish Your Business Plan Today!

Your business plan should include 10 sections as follows:

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of car dealership you are operating and the status; for example, are you a startup, do you have a car dealership that you would like to grow, or are you operating a chain of car dealerships.

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the car dealership industry. Discuss the type of car dealership you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.

Company Analysis

In your company analysis, you will detail the type of car dealership you are operating.

For example, you might operate one of the following types:

New Car Dealers : this type of car dealership business typically sells both new and used passenger vehicles. Usually, this type of dealership also has a service department and also sells parts.
Used Car Dealership : this type of car dealership sells used passenger vehicles, including cars, light trucks, sports utility vehicles (SUVs) and passenger vans.
Online Car Dealership : this type of car dealership retails automobiles online to consumers and businesses and provides services to aid in the purchase of automobiles. Some players offer their customers trade-in, car financing and car selling services.

In addition to explaining the type of car dealership you operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to question such as:

When and why did you start the business?
What milestones have you achieved to date? Milestones could include sales goals you’ve reached, new store openings, etc.
Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the car dealership business.

While this may seem unnecessary, it serves multiple purposes.

First, researching the car dealership industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your strategy particularly if your research identifies market trends. For example, if there was a trend towards vehicles, it would be helpful to ensure your plan calls for plenty of options.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your car dealership business plan:

How big is the car dealership business (in dollars)?
Is the market declining or increasing?
Who are the key competitors in the market?
Who are the key suppliers in the market?
What trends are affecting the industry?
What is the industry’s growth forecast over the next 5 – 10 years?
What is the relevant market size? That is, how big is the potential market for your car dealership. You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your car dealership business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: college students, soccer moms, baby boomers, etc.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of car dealership you operate. Clearly baby boomers would want a different atmosphere, pricing and product options, and would respond to different marketing promotions than college students.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most car dealerships primarily serve customers living in their same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other car dealerships.

Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This primarily includes private sellers. You need to mention such competition to show you understand that not everyone in the market for a car shops at a dealership.

With regards to direct competition, you want to detail the other car dealerships with which you compete. Most likely, your direct competitors will be car dealerships located very close to your location.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

What types of customers do they serve?
What types of automobiles do they offer?
What is their pricing (premium, low, etc.)?
What are they good at?
What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to stand outside your competitors’ locations and ask customers as they leave what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

Will you provide superior products and/or services?
Will you provide cars that your competitors don’t offer?
Will you make it easier or faster for customers to acquire your products?
Will you provide better customer service?
Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a car dealership business plan, your marketing plan should include the following:

Product : in the product section you should reiterate the type of car dealership that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to selling new cars, will you offer leasing options?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the inventory you will maintain and the price ranges.

Place : Place refers to the location of your car dealership. Document your location and mention how the location will impact your success. For example, is your car dealership located next to a high-traffic retail area, or on a main thoroughfare, etc. Discuss how your location might provide a steady stream of customers.

Promotions : the final part of your car dealership marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

Making your car dealership extra appealing to attract passing customers
Pay per click advertising
Advertising in local papers and magazines
Reaching out to local bloggers and websites
Social media advertising
Local radio advertising
Banner ads at local venues

Building Trust

Building trust between a car dealer and its customers is vital to a successful sales strategy. This should be clear in the business plan, where funders look to see the feasibility of the company once it’s launched. Earning customer trust is important because of the bad reputation, deserved or not, for car salespeople to try to take advantage of customers and because of the high amount of stress which the purchase of a large item like a car causes for buyers.

Below are the best ways to build trust in your customers.

Referrals and Testimonials

Running a dealership with a heavy focus on satisfied customers referring other potential customers can create positive word-of-mouth between contacts who already know and trust each other. An additional element to this is securing testimonial statements (either written or videotaped) from happy customers. This requires having those happy customers in the first place, as customers can sense if the testimonials are canned and will mistrust even further.

Transparency

If auto dealerships were extremely clear about all pricing, fees, and costs of ownership up front, customers might change their opinion of these companies. However, too often there is a great focus on a low sticker price to attract customers who later on feel they’ve been lied to when all of the add-on charges are explained. Can your dealership change this industry practice and make transparency into a competitive advantage?

Taking Your Time

By taking the sales process at a rate that the customer is comfortable with, you recognize that it is a difficult step for customers to walk into the world of the dealer and play on his home turf, so to speak. They will be feeling defensive and a bit thrown off, so tell them that you will take the time to answer any questions they have and to make sure they understand and have considered their options before moving forward.

Operations Plan

While the earlier sections of your car sales business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your car dealership such as serving customers, completing necessary paperwork, keeping the dealership clean, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to serve your 1,000th customer, or when you hope to reach $X in sales. It could also be when you expect to hire your Xth employee or launch a new location.

Management Team

To demonstrate your car dealership’s ability to succeed as a business, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally you and/or your team members have direct experience in the car dealership business. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in car dealerships and/or successfully running retail and small businesses.

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you serve 20 customers per week or 75? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities. For instance, if you spend $100,000 on building out your car dealership, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100.000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt. For example, let’s say a company approached you with a $1,000,000 fleet order, that would cost you $500,000 to fulfill. Well, in most cases, you would have to pay that $500,000 now for inventory, transportation, employee salaries, etc. But let’s say the company didn’t pay you for 180 days. During that 180 day period, you could run out of money.

In developing your Income Statement and Balance Sheets, be sure to include several of the key costs needed in starting or growing a car dealership:

Location build-out including design fees, construction, etc.
Cost of equipment like computer hardware and software, etc.
Cost of maintaining an adequate amount of supplies
Payroll or salaries paid to staff
Business insurance
Taxes and permits
Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your store design blueprint or location lease.

Car Dealership Business Plan Summary

Putting together a business plan for your car dealership is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the car dealership business, your competition and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful car dealership business.

Download Our Car Dealership Business Plan PDF

You can download our car dealership business plan PDF here . This is a business plan template you can use in PDF format.

Car Dealership Business Plan FAQs

What is the easiest way to complete my car dealership business plan.

Where Can I Download a Car Dealership Business Plan PDF?

You can download our car dealership business plan PDF template here . This is a business plan template you can use in PDF format.

Don’t you wish there was a faster, easier way to finish your Car Dealership business plan?

OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success. Click here to see how Growthink’s business plan advisors can give you a winning business plan.

Car Dealership Business Plan: Complete Guide

January 11, 2023

Whether you’re looking to raise funding from private investors or to get a loan from a bank (like a SBA loan) for your car dealership, you will need to prepare a solid business plan.

In this article we go through, step-by-step, all the different sections you need in your car dealership business plan. Use this template to create a complete, clear and solid business plan that get you funded.

1. Executive Summary

The executive summary of a business plan gives a sneak peek of the information about your business plan to lenders and/or investors.

If the information you provide here is not concise, informative, and scannable, potential lenders and investors may lose interest.

Though the executive summary is the first and the most important section, it should normally be the last section you write because it will have the summary of different sections included in the entire business plan below.

Why do you need a business plan for your car dealership?

The purpose of a business plan is to secure funding through one of the following channels:

Obtain bank financing or secure a loan from other lenders (such as a SBA loan )
Obtain private investments from investment funds, angel investors, etc.
Obtain a public or a private grant

How to write an executive summary for your car dealership?

Provide a precise and high-level summary of every section that you have included in the business plan. The information and the data you include in this segment should grab the attention of potential investors and lenders immediately. Also make sure that the executive summary doesn’t exceed 2 pages.

The executive summary usually consists of the 5 main paragraphs:

Business overview : introduce your car dealership: what is your business model (franchise vs. independent business ; new vs. used car dealership), how many cars will you have in inventory? Are you partnering with any car manufacturer(s)? Where would your store be located? Etc.
Market overview : briefly analyze the car dealership industry in your area ( market size and growth), your competitors and target customers: average income of your target audience , demographic distribution, customer preferences etc.
Management & people : introduce the management team and their industry experience. Mention your business partner(s), if any. Also give here an overview of the different teams, roles and their reporting lines
Financial plan : how much profit and revenue do you expect in the next 5 years? When will you reach the break-even point and start making profits? Also include here a small chart with your key financials (revenue, net profit )
Funding ask : what loan/investment/grant are you seeking? How much do you need? How long will this last? How will you spend the money?

Car Dealership Financial Model

Download an expert-built 5-year Excel financial model for your business plan

2. Business Overview

In the business overview section of your car dealership business plan, you should expand on what your company sells, to whom, and how it is structured. A few examples of questions you must answer here are:

The history behind the project: why did you choose to open a car dealership today?
Your business model : Are you franchising or is this an independent store? Are you selling new or used vehicles?
Products & services : What vehicles / brands do you plan to sell? Are you planning to add any additional services (e.g. car repair & checkups, etc.)
What is the legal structure of your company? Who are the directors / shareholders?

a) History of the Project

Briefly explain how did you come up with the plan to start a car dealership business. What motivated you to get into this business venture?

Also try to demonstrate to investors your interest and passion for the car industry and car dealership in general.

For example, you might have worked in a car dealership and/or at a car manufacturer sales department in the past, and found immense growth potential for this type of business in your area.

b) Business Model

Explain in this section what business model you chose for your car dealership. Here are a few questions you must answer:

Will you start an independent dealership, franchise model, chain store, etc.?
Will you open a brand-specific dealership?
Would your car dealership deal in new cars, used cars, or both?
Do you plan to open an online dealership?
Would you offer service and repairs in your car dealership?

c) Products & Services

Now that we have briefly introduced what your business model is, you must explain in detail what exactly you intend to sell. There are 2 things here:

Products (cars): what vehicles and brands do you intend to sell? Why did you choose these vehicles / brands?
Services : if you offer additional services (e.g. car repairs, checkups), explain what they are

In addition to the products and services , you should also include a list of prices for each. Of course, this doesn’t need to be exact. Car prices fluctuate based on various factors. Yet, you must be able to provide a range of prices for each category (e.g. sedan, luxury cars, vans, etc.).

If you specialize in a specific brand, you can provide a list of prices per model in appendix as well.

The prices are important as they will allow investors to tie your product offering with your financial projections later on.

d) Legal Structure

Explain the legal structure of your nursing home in this section. Are you starting a corporation, a limited liability company, or a partnership? Who are the investors? How much equity do they actually own? Is there a board of directors? Do they have prior industry experience?

3. Car Dealership Market Overview

A complete understanding of the car dealership industry is important for the success of your business.

Therefore, you must cover here 3 important areas:

Status quo : how big is the car dealership industry in your area? How fast is the market growing? What are the trends fuelling this growth (or decline)?
Competition overview : how many car dealership competitors are there? How do they compare vs. your business? How can you differentiate yourself from them?
Customer analysis : what are your target customers? What are their customer preferences?

a) Status quo

When looking at the car dealership industry, try to start at the national level (US) and narrow it down to your service area (a city for example). You should answer 2 important questions here:

How big is the car dealership industry in your area?

How fast is the car dealership industry growing in your area, how big is the car dealership industry in the us.

The auto parts and car dealership industry in the US is huge: it was worth $1.18 trillion in 2021 as per the National Automobile Dealers Association . As per the same report, there were 16,676 light vehicles car dealerships in the US in 2021 which generate an average revenue of $71 million.

Sales are divided between new (52%) and used vehicles (37%) as well as services and parts (11%).

After the US, assess the size of the car wash industry in your city or area. Focus on the zone where you plan to offer your services.

Naturally, you might not be able to get the data for your specific city or region. Instead, you can estimate the size of your market, for more information on how to do it, read our article on how to estimate TAM, SAM and SOM for your startup .

Luckily, NADA publishes statistics per state so you can narrow it down easily. For your city instead, you will need to do work out some estimates. To give you an example, let’s assume you plan to operate in an area where there are already 30 car dealership businesses (in a 25 miles radius for example).

Assuming our business is based in Connecticut, we can use the state’s average annual turnover of $49,661 : we can reasonably assume that the car dealership industry is worth $1.5 million in your area . In other words, there are over 35,100 light vehicles (new and used) being sold in your area each year (assuming the average retail price of $43,000).

Now that we know your area’s market size, let’s look at growth instead.

Fortunately, you can use NADA’s number again as they publish annual reports. Just use your state’s market size growth, and explain the growth (or decline). This can be due to average car prices, or volume.

b) Competition overview

You should discuss both your direct and indirect competition in your business plan. Other car dealerships in the region will be your immediate competitors. Internet auctions, individual dealers, etc., will be your indirect competitors.

In this section, you should also discuss the essential components of the business models of your main competitors. Your research should be focused on their clientele, the kinds of cars they offer, and their strengths and weaknesses .

A thorough competitive analysis is crucial as it may allow you to discover and address a customer need or preference that none of your rivals is addressing today.

Here are some of the questions that you must answer in this section:

How many competitors are there in the area where you want to open your car dealership?
Are they franchises or independent stores?
Do they partner with specific car manufacturers?
What type of cars do they offer (luxury, economy, used, new, etc.)?
What is the average price range of the cars they sell?
How many employees do they have?
Do they offer services and repairs?
Do your competitors offer buyback on the cars sold by them previously to the client?
What type of offers and discounts do they offer to attract customers?
How many cars / vehicles do they sell on average per month?

c) Customer analysis

Now that we have a good idea of the car dealership industry in your area as well as competition, now is time to focus on your target audience: customers.

Knowing your customer is extremely important before you get into any business. This is all the more relevant for car dealership where customer preferences and tastes are very different.

For example, if you are planning to get into a luxury car dealership business, you should look into:

The estimated population of high-income people in your area
Types of luxury cars that are in demand (hatchback, sedan, SUV, etc.)
Shopping preference of your target customers (online or offline)
How frequently do they buy (or exchange) new cars?
Is their buying decision influenced by offers or discounts?
What features do your target customers want in their new luxury cars?
What type of additional services do they expect from their dealers?

4. Sales & Marketing Strategy

This is the section of your business plan where you outline your customer acquisition strategy. Try to answer the following questions:

What are the different marketing strategies you will use?
What are your Unique Selling Points (USPs)? In other words, how do you differentiate from your competitors?
How do you intend to track the success of your marketing strategy ?
What is your CAC or customer acquisition cost?
What is your marketing budget?

What marketing channels do car dealerships use?

A few marketing channels that car dealership businesses typically use are:

Signage, billboards
PPC ads, Facebook ads, etc.
Print media
Loyalty programs
Online local listing (Google Business)
Content marketing (share content like vehicle maintenance tips, safe driving tips, etc.) on platforms like blogs, social media, etc.
Word of mouth, recommendations

You must have a fair and nearly accurate estimate of your marketing budget. Therefore, make sure to budget for marketing accordingly in your financial projections.

What are your Unique Selling Propositions (USPs)?

In other words, how do you differentiate yourself vs. competitors? This is very important as you might need to win customers from competitors.

A few examples of USPs are:

Products: you may be the exclusive distributor or a car make in your area for example
Services : you may offer repairs and regular checkups for your customers
Location : you store is closer to a busy road and/or to where your customers live

Your USPs will depend on your business model, competitor analysis, and target audience. Whatever your USPs are, it should appeal to your potential customers and attract them.

5. Management & People

You must address 2 things here:

The management team and their experience/track record
The organizational structure: the different team members and who reports to whom

Small businesses often fail because of managerial weaknesses. Thus, having a strong management team is vital. Highlight the experience and education of senior managers that you intend to hire to oversee your car dealership.

Describe their duties, responsibilities, and roles. Also, highlight their previous experience and explain how they succeeded in their previous roles.

Organization Structure

Even if you haven’t already hired a VP of sales, sales managers, support staff and any other relevant staff members, you must provide a chart of the organizational structure outlining the different teams, roles and their reporting lines.

6. Financial Plan

The financial plan is perhaps, with the executive summary, the most important section of any business plan.

Indeed, a solid financial plan tells lenders that your business is viable and can repay the loan you need from them. If you’re looking to raise equity from private investors, a solid financial plan will prove them your car dealership is an attractive investment.

There should be 3 sections to your financial plan section:

Your historical financials (only if you already operate the business and have financial accounts to show)
The startup costs of your project (if you plan to start a new car dealership, or purchase new inventory, expand your store, etc.)
The 5-year financial projections

a) Historical Financials (if any)

In the scenario where you already have some historical financials (a few quarters or a few years), include them. A summary of your financial statements in the form of charts e.g. revenue, gross profit and net profit is enough, save the rest for the appendix.

If you don’t have any, don’t worry, most new businesses don’t have any historical financials and that’s ok. If so, jump to Startup Costs instead.

b) Startup Costs

Before we expand on 5-year financial projections in the following section, it’s always best practice to start with listing the startup costs of your project. For a car dealership, startup costs are all the expenses you incur before you open your shop and starting making sales. These expenses typically are:

The lease deposit for the commercial space you rent (if you don’t buy it)
The design and renovation of the existing facilities
The inventory costs (the initial stock of vehicles you must buy to sell them at opening)

For example, let’s assume you want to buy 30 light vehicles as a start for inventory, and you take on a loan where you need to put down 15% upfront. Now, assuming these vehicles each cost $50,000 on average, this means you must put down $300,000 yourself. This comes in addition with any other startup cost mentioned above (lease deposit, renovation costs, etc.).

c) 5-Year Financial Projections

In addition to startup costs, you will now need to build a solid 5-year financial model as part of your business plan for your car dealership .

Your financial projections should be built using a spreadsheet (e.g. Excel or Google Sheets) and presented in the form of tables and charts in your business plan.

As usual, keep it concise here and save details (for example detailed financial statements, financial metrics, key assumptions used for the projections) for the appendix instead.

Your financial projections should answer at least the following questions:

How much revenue do you expect to generate over the next 5 years?
When do you expect to break even?
How much cash will you burn until you get there?
What’s the impact of a change in pricing (say 20%) on your margins?
What is your average customer acquisition cost?

You should include here your 3 financial statements (income statement, balance sheet and cash flow statement). This means you must forecast:

The number of vehicles you sell over time ;
Your expected revenue ;
Operating costs to run the business ;
Any other cash flow items (e.g. capex, debt repayment, etc.).

When projecting your revenue, make sure to sensitize pricing and the number of customers as a small change in these assumptions will have a big impact on your revenues.

7. Funding Ask

This is the last section of the business plan of your car dealership. Now that we have explained what type of vehicles your company sells to whom and at what price, but also what’s your marketing strategy, where you go and how you get there, this section must answer the following questions:

How much funding do you need?
What financial instrument(s) do you need: is this equity or debt, or even a free-money public grant?
How long will this funding last?
Where else does the money come from? If you apply for a SBA loan for example, where does the other part of the investment come from (your own capital, private investors?)

If you raise debt:

What percentage of the total funding the loan represents?
What is the corresponding Debt Service Coverage Ratio ?

If you raise equity

What percentage ownership are you selling as part of this funding round?
What is the corresponding valuation of your business?

Use of Funds

Any business plan should include a clear use of funds section. This is where you explain how the money will be spent.

Will you spend most of the loan / investment to acquire the cost for the inventory (the vehicles)? Or will it cover mostly the cost of buying the land and building the store?

Those are very important questions you should be able to answer in the blink of an eye. Don’t worry, this should come straight from your financial projections. If you’ve built solid projections like in our car dealership financial model template , you won’t have any issues answering these questions.

For the use of funds, we recommend using a pie chart like the one we have in our financial model template where we outline the main expenses categories as shown below.

Privacy Overview

Earn $500+ This Weekend: An Intro to Flipping Cars

But there’s a unique side hustle opportunity in used car flipping. It’s similar to other “buy low, sell high” business models we’ve talked about, but the potential profit per flip is quite high.

Jeremy Fisher is a car-flipping pro. He put together this VERY detailed guide to get your gears turning on the dollars that could be lurking in driveways in your town.

Enter Jeremy…

************

Years ago when I became interested in buying and selling cars on the side I had no idea where to start. All I knew was that I wanted these three things:

To add an additional stream of income
To invest the minimum amount of time possible – ideally just a few hours per week
To do something fun and interesting that also put money in my pocket

When I started flipping cars I knew very little about buying and selling cars and I made a bunch of mistakes that cost a lot of time and money. Along the way I’ve learned a lot and in this post I’d love to share some of those learnings with you.

Nick’s Notes: This post is quite long and detailed. If you’d like to download a free PDF version to peruse later, click here or on the image below.

Block Off a Few Hours

Before we start, a couple warnings, set aside some cash, what most people don’t know about used car values, use the guide your buyers use, specialty cars, the sweet spot: lower priced common cars, 1. create the “don’t trade your car in” wanted ad, 2. set up instant alerts, 3. hire spotters, if you don’t know anything about cars, do your due diligence, don’t just assume that the seller’s words are facts. do your own research., finalizing the purchase, low cost repairs, maximize your profits with a clean car, pricing the car, 1. craigslist, 2. empty lots, 3. bulletin boards, 4. one alternative: could you rent it out instead, selling without selling, negotiate for profits, finalizing the sale, final words from jeremy, what else could you flip, serious about making extra money, frequently asked questions.

Buying and selling cars can be an excellent source of income that doesn’t require a huge time investment on your part.

I typically try to spend only 3 hours for the entire finding and buying, preparing for sale, and selling process, which is why I named my blog the 3HourFlip.com. Not all deals work out that way – in fact most of them don’t – but 3 hours is a great benchmark to make sure you’re maximizing your time while flipping.

The trick is to learn how to make deals come to you so you can spend less time searching and more time selling.

If you’re like me, you won’t get everything right on your first few car flips, and even seasoned car flippers still make bad purchases from time to time. It happens. Cars have a lot of moving pieces and problems can pop up even if you’ve done all your due diligence up front.

Don’t let that discourage you – car flipping doesn’t have to be that complicated. In this article you’ll learn how to flip cars the simple way.

Many states in the US have regulations on how many cars one person can own in one year. For example, if your goal is to flip 10 cars in one year but your state limits you to owning 5, you might want to think about putting a few cars in your friend or spouse’s name. Just make sure that you’re very familiar with your country and state’s regulations regarding buying and selling cars BEFORE you start car flipping.

Nick’s Notes: For example, in California individuals can only sell 5 cars a year. Beyond that you’re considered a “dealer” and that requires special licensing.

Before your first purchase, you’ll need to decide how much money you want to put toward seeding your flipping business. I wouldn’t recommend going to a bank to borrow money in order to buy cars to sell. Stick with money you already have.

In my opinion, the smaller you start the better; $500-$2000 should be plenty. Not only does starting small lower your risk, it also takes some of the pressure off your first flip which usually translates to better decision making and less fear.

Nick’s Notes: This business is no different from any of the other “buy low, sell high” businesses we’ve covered on Side Hustle Nation, but the starting buy-in is usually going to be higher than going to the clearance section of Walmart on an FBA sourcing trip . As always, don’t make a bet you can’t afford to lose.

Become a Used Car Pricing Expert

Shopping for cars is much easier if you can quickly compare good deals versus bad deals. Begin studying car prices online and with pricing guides to get a feel for what typical car prices are in your area.

Focus on becoming an expert in the $500-$4500 vehicle price range. Become a frequent user of Kelly Blue Book , NADA , Edmunds , and Craigslist .

I also recommend downloading the free KBB app to your smartphone so you can always lookup car values quickly and easily when you’re on the go.

The truth is, there is no actual way to get an exact value on one particular vehicle.

Each automobile has many different qualities and features than the next. Pricing guides are only used to help determine the ballpark value of a car. The real value of a vehicle is only determined by what someone else is willing to pay for it.

What you’re hoping to do when you study price guides is determine the most likely price that the car would sell for, and that is rarely the exact same number that you see in a price guide.

I have found that most potential buyers use Kelly Blue Book to determine the value of a vehicle which is why KBB is my primary pricing guide. If your buyer is using KBB as a reference, it’s very helpful as a seller to do the same so that you both will be on the same page.

Finding and Buying Cars to Flip

I mentioned earlier that I typically try to spend just one hour finding and buying cars that I flip.

Finding and buying a great deal in 1 hour might seem very difficult – and it is. The trick is to learn how to attract deals that help you spend less time looking and more time buying.

In this section we’ll learn how to do just that.

If you plan to flip your first car quickly, you’ll probably want to stay away from rare, uncommon, exotic, or specialty vehicles like limos, buses, sports cars, and classic cars. Specialty vehicles have a lower number of potential buyers, which means they may take much longer to sell.

That being said, if you don’t mind waiting a little longer for the sale, you may find that specialty vehicles can be very profitable, often making more profit per car than common vehicles. Some people flip or restore just a few classic or exotic cars per year, but earn up to $30,000 per vehicle in profit alone. It doesn’t take long to earn a big income with those types of numbers.

With rare exception, I typically target vehicles within the $500-$4500 price range.

Here are a few reasons why I like to flip cars in that range:

It is much easier to attract cash buyers in a lower price range. Since most people don’t have over $4000 in cash to spend on a vehicle, they are more likely to require financing, which takes more time and adds more steps for you, the seller.
Buyers of a lower priced vehicle usually don’t spend time as much time obsessing over small imperfections, which often means lower priced cars are easier to sell. In contrast, if a person decides to fork over $30,000 for a vehicle, they are much more likely to expect the vehicle to be in perfect condition.
Purchasing in this price range limits the risk that you place into each vehicle. If you purchase a $500 vehicle that has a bad engine you can scrap the car, cut your losses and move on. However, if you spend $5000 on a vehicle with a bad engine you’ll be tempted to sink an additional $2000 into it to fix the engine and recoup your $5000 investment.
Your profit potential can be higher. If you have $6000 in total investment capital and you use all of it on one vehicle, your potential profit is limited to that one item. If you split the investment into 3 vehicles at $2000 each, your potential profit has tripled.

3 Ways to Get Craigslist Deals to Come to You

A great way to get deals to come to you is to post wanted ads. An example of wanted ad that I’ve used is below.

AD TITLE: Don’t trade your car in, sell it to me for cash! AD DESCRIPTION: If you are thinking about trading your car in, don’t do it! Automotive dealers will offer you trade-in value, which is often way under what it’s worth. Sell your car to me instead. I will pay over trade-in value for any vehicle under $4000 with 150,000 miles or less. Email me the make, mileage, and condition of your vehicle and I’ll send you a cash offer that will beat a dealer’s trade-in price. This is not a scam; I buy cars.

After you receive emails in response to the ad, copy a link to the KBB trade-in value of the vehicle and send it to the seller with an offer above the trade-in price.

Here’s an actual email that I’ve used (don’t forget to include the KBB link in the bottom of the email):

“Thanks for replying to my ad. I’ve posted the KBB trade-in value for your car below. Click on the link and check it out. Based on this, your trade-in value is $3000. I’ll offer you $3200 cash and I can buy it today!”

Sellers are happy to receive more than what their dealer would have paid and I’m happy to purchase a car for less than I could sell it for. You‘ll be surprised how many vehicles you can purchase that would have been trade-ins sold at a dealership that you now own under KBB private sale value.

Download the CPro app to your smartphone and set up notifications when used cars in your price range are listed on Craigslist. This third-party tool is WAY better than the official Craigslist app.

Note: Unfortunately the CPro app appears to be discontinued. Readers have recommended the CPlus app for iOS and Android as an alternative.

For example, you can set the app to send you an instant notification when any car is listed under $3000 , is for sale by owner (not dealer), and has “must sell” in the description.

Nick’s Notes: This is really cool and will be fun to play around with different filters. I also recently read some Craigslist search recommendations to include words like “moving”, “divorce”, or “end of lease” which may signify someone in a hurry to sell. You could also use this for specific searches in non-car Craigslist flipping businesses.

I’ve been shopping off and on for a new used car, and will definitely take advantage of this feature if/when I get serious about it.

Getting instant notifications will keep deals coming to you and help you get to deals before other Craigslist car shoppers.

Just about everyone knows someone who is thinking about buying or selling a car. Look to your sphere of influence to help you in this business. Offer to pay anyone that helps you find a car that you can purchase to flip for profit. Working personal referrals can be one of the best ways to find leads on vehicles before anyone else does.

Print business cards and hand them out. On the front, mine say, “I buy cars.” On the back they say, “I’ll pay $50 for your help!” and lists my phone number.

This is one of the ways you can start having deals come to you and the more eyeballs that you have working for you, the better.

Inspecting the Car for Purchase

Once you have found a vehicle that you’re interested in, and the seller has agreed to meet with you, your attention to detail becomes extremely important.

You’ll want to look the car over inside and out and check for any indication that the car has problems. There’s no way to totally eliminate any possibility of buying cars with problems, but you can certainly lower your risk by spending a lot of time checking it out before buying.

If you know nothing about vehicles, don’t worry, there’s still hope for you. The more you know about cars the better off you will be but you don’t have to be an ASE certified technician to make good car purchases.

If you know absolutely nothing about cars just plan to spend a little extra money getting the car checked out by a mechanic before you buy it, and know that you may lose out on a couple deals as a result of that extra step.

If you are feeling confident, that’s great! Just don’t let the allure of a good deal make you skip the proper due diligence.

Want to make sure the car isn’t stolen? Check the VIN at the National Insurance Crime Bureau .
Want to make sure the car has never been part of a recall? Check the VIN at SaferCar.gov .

I’m not advocating being less trusting of people. Though you might run into someone that IS trying to rip you off, I’ve found that most people just want to sell their car and don’t have any malicious intent.

Major problems usually don’t occur because the seller is lying to you about car problems. In my experience the majority of problems occur because the seller just didn’t know about everything.

Though you should make sure you ask as many questions as possible of the seller, it’s ultimately your job to do all of the research and make sure you’re buying a good car. After all, when you sell a bad car it will be your reputation on the line, not the person’s that you bought it from.

If you’ve made it this far, money has changed hands, you have the title, and the car is yours.

Great job. You’ve made a purchase and hopefully you have a great deal!

The hard work isn’t over, but you have accomplished the most important part of the car buying and selling process. After all, before you can make any money, you have to some inventory to offer. You should feel happy about that.

Now let’s get it ready to sell!

Getting Ready to Sell

Your vehicle may be in need of minor repair before you list it to sell. If you haven’t already had the car inspected for repairs, consider getting a reputable ASE® certified technician to take a look at your vehicle and make sure there aren’t any mechanical problems.

Spending $100-$300 on repairs could result in another $400-$1000 on the sale of the vehicle and the fewer the amount of problems that your buyer sees, the more they are going to be willing to pay for your vehicle.

Often you can find private automotive technicians that work from home and offer discounted rates. They will often place an ad in your local newspaper classifieds.

For example, I found a retired mechanic on Craigslist who charges $30 for a basic mechanical reliability check on any vehicles and I get a huge discount on any repairs that need to be done.

Some car flippers elect to make repairs themselves which definitely increases the overall profit margin on the flip. Personally I’d rather pay someone to make repairs so I can keep my car re-sell preparation time under an hour.

Cleaning your vehicle is one step that you never want to leave out of the selling preparation process. Even if the vehicle isn’t very dirty when you purchase it, clean it anyway. Because this is your buyer’s first impression and people tend to judge a book by its cover, this can have a big impact on the price you can ultimately sell the car for!

Some people choose to hire an auto detail company to clean their vehicles. This can cost up to $200 per car, depending on the vehicle and most detail shops can make a car look like it just came off of the showroom floor. Using detailers helps to keep your invested time under our 1 hour goal for sale preparation.

Related: Here’s how a couple college students started their own mobile detailing business , and grew it to $6k a month.

If you’re willing to invest more than 1 hour, you may consider cleaning the car yourself. That requires a little more work, but does keep your margins higher. Whether you clean it or have someone else clean it, don’t skip this step!

Initially I usually price a vehicle just over KBB® value to provide a little bit of negotiating margin. For example, if I plan to sell a vehicle for $3500 I will list the price of the vehicle as $3900 . A buyer may offer $3200 and I can counter with $3500 .

Always leave negotiating room in your prices. Buyers typically like to feel like they’ve gotten a deal, and if they’re forced to pay your full asking price, they won’t be as excited to make a purchase.

That’s not to say that some buyers won’t offer full price, because some do. I love those kinds of buyers, but they’re rare.

Top 3 Places to Flip Your Car

Millions of people use Craigslist to search for their next vehicle, and it’s probably no surprise that I recommend using it to sell your car. It is by far the fastest way to sell a vehicle. I’ve even purchased a car from Craigslist, prepared it for sale, listed it on Craigslist again, and sold it on the same day.

Nick’s Notes: That’s pretty awesome.

With Craigslist your ad is free and visible to buyers within minutes.

I recommend that you list basic information about your vehicle in the ad. Don’t try to write a sales page because that will turn buyers off. Just list all of the features with great pictures.

I also like to list my telephone number in the ad. Many people are more comfortable texting when they have questions or want to set up a time to see the vehicle. It also helps to weed out flaky buyers. A buyer that calls you is probably more serious than a buyer that sends you an email.

Since there is a large volume of sellers on Craigslist, make sure to renew your ad at least every other day. Posts that are older than 2 days usually don’t get read, unless someone does a search for a specific model. Craigslist has a policy that prohibits identical re-posts so only use the “renew” option to refresh a post.

Often a local business owner that is located on a busy highway will be willing to rent lot space to someone selling vehicles.

I personally love to have agreements with storage facility owners located at the intersection of two very busy streets. They rent cheap and are happy to maximize their unused real estate. The common price I’ve paid is $50 per month, per car.

Because of the volume of traffic, most cars sell within a week.

If you already live on a busy street simply park the vehicles in front of your house with a for sale sign in the window. You may be surprised the amount of attention your vehicle gets if it is priced correctly.

Target the type of customer that would purchase your vehicle and find out where those types of people hangout. Once you know where they are, post a flyer for your vehicle on a bulletin board.

For example, if you purchase a small vehicle that would be perfect for a college student , post a flyer on a local college bulletin board. If you have a large vehicle designed for comfort, post a flyer on your local retirement community bulletin board.

Target marketing bulletin boards can be a very effective and inexpensive selling strategy.

If you buy a car that just isn’t selling, or maybe you want to drive it for a while yourself, one interesting new platform to consider is Turo .

Turo is a peer-to-peer car rental service. Think Airbnb, but for cars. There is some strategy and work involved, but a couple friends of mine ended up essentially getting a free Tesla by renting their other cars out on Turo .

This could be one way to turn your cars into cash-flowing assets, instead of depreciating inventory waiting to sell.

If you’ve made it this far, it’s likely that someone has called or emailed about a vehicle that you have for sale and they would like to come see it. To keep your time invested in this step low make sure you try to gauge how serious the buyer actually is.

THE most important tip that I can give regarding selling is this: Don’t try to be a salesperson .

I do not consider myself to be a good salesperson, though I’ve sold a lot of cars. However, I do consider myself a good marketer. Being a good marketer is VERY different than being a good salesperson.

I make cars easy to find and buy – period.

It’s likely that the person interested in buying your vehicle has chosen to purchase it from a private seller like yourself rather than an automotive dealership because they don’t like being pressured into a purchase or being “sold to.” If you try to be pushy or use cheesy salesperson lines like “what can I do to get you in this car today?” you are likely to put the buyer off.

Just be yourself, be honest about everything and let the buyer make the decision about purchasing. If you’ve prepared the car for sale properly you shouldn’t have any problems finding a buyer.

Negotiating price while selling is very similar to negotiating price when buying. Pick a number in your mind that is the lowest price you would be willing to accept, and stick to that number. Let’s look the dialogue of how most pricing negotiations happen.

In this scenario the car’s KBB Private Party Value is $4200 and it’s listed for $4000. You have $2500 total invested in the vehicle and the lowest price that you’ll take is $3500.

Buyer: “So you are asking $4000. Is that negotiable?”

You: “Would you be paying with cash?”

Buyer: “ Yes”

You: “I would be willing to accept less. What would you offer?”

Buyer: “Would you go $3300?”

You: “That’s well under KBB® value and the car is in great shape. Not perfect, but still great shape.”

Buyer: “Could you do $3700?”

You: “You have a deal”

The buyer gets the car under it’s KBB value and feels like he/she got a good deal by talking you down $300. Meanwhile you’ve secured a price higher than you would have been willing to accept. A win-win!

Once a deal has been made make sure that you receive the cash in hand before signing ownership over to the buyer and make sure you are very familiar with your country or state’s regulations on vehicle ownership transfers.

You can find most US state-specific forms at USLegalForms.com .

Snowballing Your Profits

If you’ve followed the steps above you’ve bought a car, prepared it for sale, and sold it for a profit – GREAT JOB !

So what’s next? Doing it again of course! Snowballing profits is the best way to gain momentum flipping cars, especially if you aren’t starting with a lot of operating capital.

I began with $850 .

I used that $850 to buy a car that I sold for $1300 .

I then used $1300 to buy the next one and so on. That’s how you snowball your profits. Once you reach a point where you can buy and sell enough cars to recapture your initial investment, all of the profits from the sales go directly into your pocket.

I truly hope you’ve enjoyed this article as much as I enjoyed writing it for you, and I hope that you feel the confidence to start buying and selling cars for profit today.

Thanks again, and I wish you the absolute best!

Nick’s Notes: Another flipping business that might be worth exploring is simply buying clearance items locally, and reselling them for a profit on Amazon . This is known as Amazon FBA clearance arbitrage or retail arbitrage.

It may not be as flashy as the sneaker business, but may be easier to source inventory and begin to multiply your money. Click here to learn more about how to get started , or listen in below:

The other flipping business I want to share is my friend Rob’s — he runs Flea Market Flipper and Flipper University .

The guy has some crazy awesome stories about the random stuff he’s found and then re-sold for big gains. And he’s turned it into a full-time, 6-figure business!

Check out my interview with Rob to learn more, join his free webinar , or listen with the player app below:

And finally, there’s an entire industry set up around flipping books . One guest of mine reported earning up to $4000 a month re-selling used books.

Ever sold a car for more than you paid for it?

Conventional wisdom says cars are depreciating assets, but the system that Jeremy’s laid out gives an interesting alternative.

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What are the best cars to flip?

The most commonly flipped vehicles are either sought-after specialty cars, or older models in the $500-$4500 price range. For new flippers, start with low-priced cars to minimize your downside risk. Look for models from respected brands that may need some inexpensive repairs to add value to your deal.

Is flipping cars legal?

The regulations surrounding buying and selling cars for profit vary by state so it’s best to check the laws in your local area. Certain states allow up to 5 sales a year, while others allow up to 12, before you’ll need to register as a car dealer.

Where are the best places to flip cars?

Craigslist, bulletin boards, empty lots, and Facebook marketplace top out our list of the best places to re-sell your car once you’ve bought it and gotten it cleaned up.

********* Stock photo by Soloviova Liudmyla via Shutterstock

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About the Author

Nick Loper is a side hustle expert who loves helping people earn more money and start businesses they care about. He hosts the award-winning Side Hustle Show, where he's interviewed over 500 successful entrepreneurs, and is the bestselling author of Buy Buttons , The Side Hustle , and $1,000 100 Ways .

His work has been featured in The New York Times, Entrepreneur, Forbes, TIME, Newsweek, Business Insider, MSN, Yahoo Finance, The Los Angeles Times, The San Francisco Chronicle, The Financial Times, Bankrate, Hubspot, Ahrefs, Shopify, Investopedia, VICE, Vox, Mashable, ChooseFI, Bigger Pockets, The Penny Hoarder, GoBankingRates, and more.

51 thoughts on “Earn $500+ This Weekend: An Intro to Flipping Cars”

I’ve bought and sold several personal vehicles via Craigslist, but never made a business out of it. I just visited the website to get the ebook, thanks for sharing!

Great Raquel, I’m glad you like it!

Hey very insightful, quick question. When you buy the car from Craigslist that you plan to sell do you add it to your insurance policy?

How do you guys handle the title when flipping cars? Do you register it in your name and wait on it to come back from the state?

Hello Brian I see some good questions coming your way, I too like to know about how the title works when selling a car. If I bought one day and sold a few days later, should I concern myself with insurance on the vehicle and how long before transfer of title to new owner. Thank you! John

Awesome post. You make some great tips. Thanks!

Thanks Kyle!

Awesome post!

Can you give us an idea of what vehicles you consider easy sellers”? i.e. Toyota Camry?

Hi Jimmy, I LOVE four door sedans. Those types of cars generally attract the largest number of buyers and appeals to the largest demographic. You’ll have less people shopping for mini vans and sporty cars than good ole 4 door sedans -that’s why I love them! I typically try to stick with sedans that have less than 150,000 miles because high miles sometimes scare buyers off.

Hi there Jeremy. Me and a friend of mine are interested in going into the car flipping business and I know that it’s gonna take some hard work, but you make it sound so relaxing and even fun. Thanks for your great help and advice. Sincerely, Sheila Seibert

There’s probably not a particular model that’s universally an “easy seller”. I’d just look for features and colors that are the most popular, which can probably be found with a few Google searches ;)

Some good tips but how do you deal with the DMV stuff? With an almost 10% sales tax here in CA and the time spent at the DMV getting the title transferred I’m curious how you make car flipping pay so well . It would be nice if you had given some detailed examples of the math for cars you had actually bought and sold (in terms of hours and dollars). I’ve bought and sold a few cars and it feels like you glossed over some stuff.

Hi James, excellent question and certainly a common one! I did my best to boil down this post to the absolute essentials so I definitely didn’t go into too much detail about the DMV or taxes, primarily because each state and country has their own rules and it would be a really, really long post if I did. If someone lives in a state that has a cumbersome vehicle ownership transfer process and requires a notary public, the process might take more time than just an hour. For someone else, it might only take 10 minutes so you’ll definitely want to find out about your state’s vehicle transfer timelines and regulations before you flip. One nice thing about flipping is that you typically don’t need to purchase a tag or insurance unless you plan on keeping the car to drive, which definitely cuts down on your time invested. For cars that I’ve flipped DMV visits rarely last more than 30 minutes, but my state might be easier to deal with than someone else’s.

Regarding taxes – I’ve never let that stop me. After all, traditional auto dealerships pay taxes and commissions to their salespeople but still have plenty of margin left over to make it worth their while. Keeping sales taxes down is just another reason why I like lower priced cars. 10% is definitely a high sales tax rate, but if you’re working with margins that slim after you’ve flipped one or two cars it might be time to adjust your buying strategy.

I have real flip examples just like you’ve requested in the 3 Hour Car Flip ebook. It dives a little deeper into car flipping and might answer a few more questions that you have. Shoot me a note at 3HourFlip.com and I’ll send you a free copy. Also make sure you checkout the 3 Hour Car Flip Podcast where I answer questions just like yours.

I believe it takes a few weeks to get the title transferred over and back in your possession. Can you elaborate on any methods to streamline this portion of the process? Are you keeping it in the original owner’s name and then signing it over to the new owner? Also, are you insuring it even for a few days? Or just carrying home on trailer and offering no test drives?

Hi Mike, many states offer expedited title transfers and if I sell the car before I get the title back from the DMV I usually sign over ownership and mail it to the buyer after the sale. I make sure to give them a solid bill of sale at the time of purchase. Most buyers are familiar with that process because it’s the same that they experience when they buy from a traditional dealership.

I don’t recommend keeping the title in the original owner’s name. That’s called “floating the title” and is illegal in most, if not all US states.

Check with your insurance provider regarding liability coverage on transporting newly purchased vehicles. My policy covers in-state short distance transports. A trailer also works too.

Great post, you gave me nice Idea for earning money. Especially liked part about buyers in lower price range. Thanks for sharing

So do you title these vehicles in your name or do you need to get an independent dealer license of some sort to sale cars? I know in Texas if you sale more than 5 cars you have to get a dealer license and the 5 cars you sale to flip must be titled in your name for tax purposes….

Definitely. You’ll always want to put them in your name and pay any taxes. Stay legal!

I have a question about title transfer and how you handle that. In WA state we have 15 days for title transfer or pay a penalty (they want their sales tax). What is the correct way (or way around) to sell the vehicle without doing title transfer and just sell directly to the new buyer.

If you haven’t received the title back before you sell the car give the seller a bill of sale and mail the title later, just like a normal dealer transaction.

Do you have to get a dealer’s license to sell cars? When you first sold your car did you have to get it registered in your name first and get the title and everything before you put it up for sale? I’m curious how that works and if you can just sell a car you’ve just purchased without having to pay for registration, etc.

If you stay under your state’s limit you don’t need a license. Definitely put the cars in your name and pay the taxes when you buy.

I’d like to clarify one point for residents of California. I recently took a course called “Used Vehicle Pre-Licensing Education Program”. This is a mandatory class in order to get a dealers license in this state. The state of California’s position is that if you buy 1, yes 1 car with the idea of making a profit, you need to be a licensed dealer. Sorry folks, I like many of you I thought that the magic number was 6. Not sure where that came from, but it ain’t so.

I’d caution you against only listening to the instructor of a dealer licensing course without doing your own research first. It’s in their best interests to bring in licensing revenue and you’ll likely find that there are no laws that say buying with the intention to sell for profit is illegal, unless open titles, putting more cars in your name than the legal limit, and tax evasion are practiced. A law against that intention wouldn’t be enforceable. IF however you do any of the previously mentioned illegal activities, you can put yourself at major risk – so don’t do that.

That being said, I’m not an expert in CA law so if you do more research and decide that car flipping isn’t for you that’s totally cool! There are plenty of other side hustles on this great site that will put some extra cash in your pocket!

Jeremy, I was only trying to pass on what I found out at a State of California Sanctioned class. The test that is given MUST be passed by anyone who wants to take the test in order to be licensed by the state. In truth, I had researched for a long time, and could only find hearsay. I myself operated under the belief that the state of CA allowed 5 sales, but I could never find it written anywhere. I’ve been playing with cars for over 45 years, and won’t change what I do, but I think it’s worth it to share the knowledge, slanted or not. Really good post by the way, I enjoyed it.

I been fliping cars for quite some time and it’s a joy.

Do you have a dealers liscence

California DOES not allow you to ANY vehicles for profit without a valid DMV retail dealers license!!

See California Vehicle Codes 11700 and 12120.

“Flipping cars” is unlawful, a Misdemeanor violation and enforced more often than you think.

Have you ever took any L’s in the car flipping business? And were they major? how much money was lost?

I’m curious how you make car flipping pay so well

I agree with Jeremy that If you stay under your state’s limit you don’t need a license

Your readers should read this before buying anything or taking any of your advice flipping cars. All that advice and nothing on this? https://dealer-license.com/flipping-cars/

Someone selling a dealer license course that says car flipping requires a dealers license? Sounds like you’re proving Jeremy right.

I really enjoyed your post, I’m going to try it.

Does it make sense to stick with a car you love and have owned 4 of them… My thinking is I know the car all the way around. Basically I’m asking what’s your thought with sticking with one car… Miata for example.

Hi Jeremy very inciteful article thank you for posting and sharing with the public. I am currently embarking into this business and will value all the material you shared during my travels. I look forward to keeping you updated on my progress.

This is a great post. Thanks for these awesome ideas.

Appreciate all tips looking forward to a great start.

These people posting about not selling one car without being licensed. Type of people scared to ride in the HOV lane when alone! Ha!

Sell a car or two without being licensed. Don’t be ridiculous people. Government has bigger fish to fry than someone selling one car for profit this year.

Boo! did I scare you? Dudes and dudettes… Flipping is not the fun part, targeting the car you want to own for a couple weeks, drive, fix up and make some cash from the folks that don’t know shit about cars. Lets see… “I have a 2014 Audi A6 4.2” with a check engine light on “Emissions based”.

Hmm I have my vagcom for Audi set up and it appears its a $100 dollar fix, seller is at $10K and the car in great condition is worth $15K…. what do I do?

Anyone trying to make a profit and lacking common sense and brain power should stick to Data Entry jobs

Hi , does your car flipping course translate to the year 2018….

In California, private party sellers can only flip a maximum of 5 cars or the DMV will flag you. It’s better to work under a dealership and get a sales license with the participating dealership. Also, you have access to the dealer auctions that’s not accessible to the public to get the cars at rock bottom rates. There’s a few used car dealers in L.A. that do this. If your accepted in with the dealer, you have to apply for a sales license (under the dealership) at the DMV, pass a live scan (a state requirement to get a sales license) and you’re in.

awesome post and useful too.

I’m curious, has any purchaser ever questioned why you only had the car for a day or a week or whatever other short amount of time? Whenever my fiance and I buy or sell a car I feel like this question always comes up if it’s a short amount of time. For his most recent primary vehicle purchase, the current owner had only had it for 3 months and it made us question the purchase.

For those of you who live in CA, you CANNOT lawfully sell even ONE car in California if your intention when purchasing it, is to resell it. Most states include caveats to this effect and or laws that ban curbing/curbstoning. Knowing this, if you still choose to pursue flipping in CA, the quickest way to get title work done in CA is to use a 3rd party dmv service, pay the taxes and fees and you can expect the title in the mail in 7-10 days. Once you have started the application for title, you can go back into any dmv service and assign the title to a buyer and the title will then get redirected to the new buyer, no need for them to rely on you to deliver the title after the sale. Also, you want to try and buy cars whose registration is not only current, but has MORE THAN 3 months left on registration so that you avoid paying the registration renewal. And of course, either have the buyer provide a smog cert or negotiate an additional discount to purchase the car “AS IS”

yeah I will like to know how to get started right away on flipping cars and make money

So if i understand this post correctly you’re essentially making money off the spread between kbb dealer trad in vs private party sale? Is that spread big enough to be worth your time? Especially at the lower end of car prices? I could see it being worth it for high value cars but it seems that the potential profit is way too low at the sub 4k level to be guarantees to make money.

Great article, I have been selling trailers, but cars and motorcycles, have been a good option. But you spelled it out and I appreciate that. Why hide the reality of it. And give other opportunities. Thank you.

this is illegal…. I am registered dealer in the state of Texas and this is illegal. The DMV specifically states if you are buying cars with the intention on selling them for a profit you must be a licensed dealer in the state you are doing business in… All your post does is promote fraudulent vehicle sales and encourages people to buy and sell vehicles by never transferring the vehicles into their name.

One tip for you.. if you are so amazing at flipping cars you should open your own dealership, then you can buy them at wholesale auctions for a fraction of the street price. But as an internet blogger you are the expert and you flip so many cars a day you have the extra time to write this long article.

This concept is quite nice. I like it!!

As far as the title portion goes how does that work? If you were flipping it the same day?

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PRODUCTS AND SERVICES

Industry description, market definition, marketing plan, company structure, financial plan, resumes and personality profiles.

Mission —The mission of Budget Cars will be to buy and sell a desirable mix of quality used cars, trucks, and vans, and to create a friendly atmosphere where Budget Cars will be known for being your family used car center.
Legal Status/Location —The legal status of Budget Cars is a subchapter "S" corporation. The location is in Alpena, Michigan.
Products and Services —The products that Budget Cars will offer are quality used cars, trucks, and vans at below market value. The services that will be offered are in-house financing provided by area banks with approved credit and a full automotive detail center that will recondition all units for sale.
Market and Sales Strategy Due to several different factors (season changes, market changes, opening date, etc.), our advertising strategies are going to vary accordingly. We are going to be consistent with our advertising in the "Out and About" section that runs every other week in the Alpena Journal and at least one ad once a month in the Daily Herald. January 15, 1997—Our goal is to open the doors and start our advertising in the "Out and About" section of the Alpena Journal , $40.00 each run, reaching 5,000 homes, and an ad in the Daily Herald . February—First week, buy the front page of the Daily Herald, $525.00, reaching 17,000 homes and continue with every other week in the Alpena Journal . Also concentrate on 3 spots a week in the classifieds, about $27.00 per week. March—This month we'll continue our "Out and About" section, 3 spots a week in the classifieds, and at least one ad in the Daily Herald to keep in contact with the out county. April—"Grand Opening" will be held this month. With the snow gone and everyone ready for a cookout, we'll have our "Family Festive." Included in this will be a tent, grilling hot dogs, contacting acquaintances with "Victorian" cars, and asking them to bring them to the lot for display. Also, the "Out and About" section and the ads in the classifieds will be run along with an ad in the Daily Herald . May, June, and July—We'll start with a little radio advertising, maybe sponsoring a morning weather program and continuing with our "Out and About" section and an ad in the Daily Herald . As for the classifieds, we'll determine at that time if they are worth using. August, September, and October—Still keeping with radio, sponsor a local high school sport and continue the "Out and About" section and an ad in the Daily Herald . November—We'll go with the "Out and About" section and the ad in the Daily Herald and determine if it's time to advertise in the classifieds. December—Have a coloring contest for the kids, with prizes that tie in with the holidays, advertising in the Alpena Journal and the Daily Herald. Budgeting $575.00 a month, a total of $6,900.00 a year, this should be a realistic dollar amount and provide us with plenty of exposure.
Management Team and Responsibilities —The management team members are Ben Heath, Margerie Heath, and Peter James, with Ben ultimately being the leader. Margerie's responsibilities will include F&I, bookkeeping, answering and routing phone calls and payroll. Peter will be maintaining and operating the automotive detail center. Ben will be responsible for the buying and selling of automobiles and overseeing all operations. The number one responsibility of our management team is to create a friendly atmosphere where our customers come first. They will always be courteously acknowledged with a friendly smile and a handshake.
Our main objective is to buy and sell 180 quality used vehicles in the first year of operation, with an increase per year of 60 vehicles, ultimately reaching an average of 300 cars per year.
We project $171,000.00 in gross profit for the first year, making that a $950.00 per unit gross after marketing sales expense is deducted, increasing accordingly with the number of units sold per year to reach our $315,000.00 gross profit by the fourth year.
Profit Projections —Budget Cars will have a net profit in the first year of operations.
Balance Sheet Projections —We are projecting an increase of net worth of the business by $39,154.05.
Initial Products and Services —When we first open in January 1997, if the weather is typically like most northern Michigan winters, there will be snow on the ground. Purposely the inventory will be minimal and focus on 4x4 trucks, utility units, and a family budget row of used cars that will satisfy the second car needs.
Need for the Product and Service —With the prices of new vehicles reaching an average of $20,000.00 plus, and continually raising each year, the used car, truck, and van market has become stronger. That's why Budget Cars is opening their doors in January 1997 to take a share of the market which is wide open in this area.
Major Suppliers —A majority of the vehicles that Budget Cars will offer will come from auctions and new car dealerships. The auctions will be our major suppliers of late model vehicles and the new car dealerships will be an access to the vehicles we can offer between $3,000.00 - $7,500.00. Other vehicles will come from trade-ins and private purchase units.
Background of the Industry —Immediately following World War II, there were roughly nine buyers for every new car produced. Sales personnel merely had to find out who could afford a new car. "Afford" was defined as paying cash. This condition existed until the early 1950s when supply began to discover that some new terms were creeping into the retail salesperson's vocabulary. Words like "overallowance," "discount," "deal," and "terms." The emphasis, however, was still not on product but on price. In addition, the asking price was no longer final. There was also, if you could haggle a little, a taking price. It was possible to bargain with the dealer for the first time. During the 1960s, other new merchandising techniques were introduced. "Sticker price," "fleet price," "hard sell," "50 over invoice," "high-powered advertising," and "free" accessories were but a few new innovations. The buyer was becoming better educated, better able to buy—thanks to 24- and 36-month payments—but still confused and fearful of price. "Good deals" became "bad deals" after talking to friends and neighbors. Caution became the watchword when buying a car. The advent of the 1970s brought more confusion to buyers with new procedures like leasing, 48-month payments, credit unions, rebates, and consumer advocates. However, in defense of the consumer, books on "How to Buy a Car," "Invoice Prices U.S. Cars," and "Used Car Buyers Guide," were published and sold by the millions. During the 1970s automobile salespeople became conditioned to the notion that customers were interested in only one thing—the very lowest price. The automobile showroom atmosphere didn't change very much from the 1970s to the 1980s. Most retail salespeople saw the business of selling automobile as an "us against them" hard-sell game. Those who sold popular Japanese products became arrogant and insensitive to their customers and those of us who sold American vehicles continued with the approach that price, and price alone, sells vehicles. As the 1980s came to a close, however, the winds of change began to impact the retail automobile marketplace. Today, in the mid 1990s, the business of retailing automobiles is quite different than it has ever been in the past. In today's marketplace, 5 out of every 6 cars sold in the United States are used.
Trade Association Assistance —Federal Register offers assistance with compliance guidelines for used car rules and (NADA) National Auto Dealers Association offers assistance.
Industry Trends —Vehicle sales seems to be a trend with our Michigan seasons. While the sun is shining and the temperatures are warm, outdoor family activities become more popular, encouraging camping, vacations, and sight seeing. These activities increase the demand for minivans, station wagons, and sport utility vehicles. As the kids head back to school and the weather turns cold, road conditions deteriorate. This creates demand for a more rugged, durable unit such as light duty trucks and vans. The extra security of four-wheel drive is also more popular during this season.
Number and Kind of Businesses in the Area in the Industry —There are four new car dealerships in Alpena that offer a line of used vehicles. There are also three used car lots in town offering a very limited selection of units.
Government Regulations —An important regulation of the government is to obtain and maintain a class "B" license. The Federal Trade Commission also publishes rules and regulations for operating a used car lot. The used car rule has four basic components. (1) Prepare and display a Buyers Guide on each used vehicle offered to the consumer. (2) To include a special disclosure in the contract of sale. (3) To identify the final warranty terms in the contract of sale. (4) To give the purchaser a copy of the Buyers Guide that includes the final warranty terms.
Business Cycle —Ups and downs go with any industry, but with the sale of used vehicles there seems to be more of a plateau. When the economy is good, sales are great. When the economy is sluggish, used cars are still in demand because of their price factor.
Customer Profile —Budget Cars will be focusing on three customer profiles. One being a first-time buyer, age 16-25, next being the middle-class family looking for a second car, and third, age 50 and over low-income adults.
Buying Decision Determinants —After presenting to the customer quality used vehicles that have been safety checked, backed with a warranty and a competitive low price, the main determinant that we believe will bring the customer to the close is working one on one with the owners and their honesty and reputations.
Customer Awareness of Product/Service —Our advertising campaign will ensure that the customer knows who and where we are. Our up close and personal interview process will be a thorough, detailed, step-by-step explanation of our product and commitment to our customers' needs.
Geographic —Our primary source of customer base will come from the local and surrounding counties. Starting from our location in Alpena, all of the counties are within a thirty-mile radius.
Population —The total population of our targeted customer base is 93,945 people. Using Alpena as a comparison, according to the Census taken in 1990, the total population of Alpena County was 21,265. The number of 18- to 25-year-olds was 1,547, the number of people 25-54 was 8,344, leaving a total of 6,273 over the age of 55. The percentage of population that was over the age of 18 at that time was 76%.
Sales —A statistic taken in 1990 determined the number of vehicles available per occupied housing unit in Alpena County. Of 8,580 housing units, 777 had no means of motorized transportation, 3,132 owned one vehicle, 3,346 housing units owned two vehicles, and 1,325 had three or more. In order for Budget Cars to reach its projected first-year goal of 15 units per month, only 2.4% of the Alpena market needs to be cornered. Any units sold to customers within the rest of the targeted counties will be additional business.
Market Growth —An estimated population increase throughout our targeted counties can only mean more people with a need for transportation. There was a population increase from 21,265 to 27,912 in Alpena County by 1995.
Jenson's Sales and Service Dodge, Chrysler, Jeep, Eagle, and used vehicles
Alpena Ford Mercury Ford, Mercury and used vehicles
Boji Buick Pontiac Oldsmobile GMC Buick, Pontiac, Oldsmobile, GMC Trucks, and used vehicles
Miller Chevrolet Cadillac Geo Chevrolet, Cadillac, Geo, and used vehicles
Car Trade Center
Thunderbird Auto
Jake's Auto Parts
Strengths and Weaknesses of the Competition —Jenson's Sales and Service is selling new and used cars on a more relaxed approach. Alpena Ford Mercury is aggressive in both new and used vehicle sales, with the majority of their used cars being higher priced program cars. Boji's is focused on new car sales. Miller offers new and used vehicles but are not very aggressive. There are three older used car lots in town that maintain a "B" license. Selling cars is not their main source of income. Very little, if any, priority is given to car sales.
Pricing —Budget Cars is in a better position than our larger competitors because the overhead is much lower. All deals will be conducted between the owner and customer with no commission paid salesperson taking a cut from the profit made on the deal. The clean-up and reconditioning of all vehicles will be completed in-house. This way we will be able to beat the larger dealers' prices every time and still make enough profit to maintain business expenses and build capital for future expansion. Our main goal will be to sell more for less and be known as "Your Family Used Car Center."
Marketing Overview —Budget Cars plans to focus on young first-time auto buyers, familes with second car needs, and low-income adults aged 50 and over. To capture this market we plan to advertise with the local newspaper and radio. But, more importantly, is the support and participation that we will show in community activities.
Marketing Objectives —Budget Cars's main marketing objective is to focus on the customers' wants and needs and, at the same time, maintain a marketable selection of vehicles at all times. This will allow us to effectively influence and persuade them to buy.
Advertising —Our main advertising strategy is to let our potential customer know that we are aware of their wants and needs and have quality inventory and prices. To prove it, we will let them know that if we don't have what they're looking for, we'll get it.
Marketing Budget —From the time that Budget Cars takes possession, until the point of sale, the marketing budget will average $300.00 per unit. This includes the driver's expense, a safety check, repair work, if needed, reconditioning, and all forms and documents used to track market trends.
Facility Requirements —The ideal facility for Budget Cars is a highly visible location with a lot large enough to hold 30 units and enough space for customer parking. Also, we will need a building large enough to house a reconditioning center and a sales floor with several private offices.
Reconditioning Department —The equipment needed for this area will be a rug doctor, shop vacuum, stripping wheel, six-foot ladder, hose and nozzle, buffer, heat gun, miscellaneous small tools, and a plow vehicle for snow removal.
Office and Sales Department —The equipment needed for this area will be two desks, nine chairs, one computer and printer, one fax machine, two phones, copy machine, two calculators, and a coffee machine.
Labor Requirements —Budget Cars will have two salaried owners as their main operators. Ben will be manning the sales and Peter will take care of the reconditioning department. Margerie, a full-time employee, will be handling the office duties.
Legal Status —Budget Cars will be a subchapter "S" corporation.
Accountant —William P. Johnson of William P. Johnson Company PC CPAs, Alpena, Michigan, will be Budget Cars' accountant.
Insurance —Cheryl Booker and Robert Ordowski of The Floyd Agency, Alpena, Michigan, will be Budget Cars' insurance agents.
Consultant —Phillip J. West of Alpena Community College, Alpena, Michigan, has been a consultant for Budget Cars.
Start-Up Costs —The start-up cost for Budget Cars will be $9,994.00. This figure includes office supplies, $377.00; marketing and reconditioning, $4,215.00; accounting and legal, $1,350.00; rental security deposit, $1,100.00; insurances, $1,575.00; gas expenses, $300.00; car phone and pager, $100.00; Chamber of Commerce dues, $177.00; and improvements to location, $800.00.
Sources/Uses of Funds —Personal funds, a $25,000.00 ten-year loan and $150,000.00 of floor plan will be used to operate the business.
Cash Flow Projections —Budget Cars foresees no cash flow projection problems.
Profit/Loss Projections/Breakeven Analysis —The Company expects to have a gross profit the first year of $60,237.00.
Balance Sheet Projections —Budget Cars projects an increase of net worth the first year to be $39,154.05.
Business Location —Budget Cars will be located in Alpena, Michigan.
Location Costs —The lease of the building will be $600.00 per month for two years.
Licenses, Permits and other Regulations —Budget Cars will need a class "B" dealership license, a sales tax I.D. number, and a city permit for the opening.
Insurance Needs —Budget Cars will need Fleet Insurance, Workman's Compensation, Renters' Insurance, and will be carrying health insurance for the shareholders.

Income Statement

This chart is a projection of our monthly cash flow after expenses. These figures have been meticulously researched and should be very close to the actual amounts. A start-up cost of $9,994.00 has not been included with these calculations.

Projected Yearly Gross Profit

This chart shows the average gross profit per unit and the profit potential with volume. Budget Cars has established goals in gross profit and volume for the next four years.

Projected Monthly Material Expenses

This chart shows the materials required monthly for the clean-up and reconditioning of 15 safety-checked units.

Class "B" Licensing Requirements

This list includes the necessary steps to take when acquiring a Class "B" Dealers License.

Original Application Assumed Name and/or Corporate Filing Fingerprint Cards Sketch or Photo of Business Location Zoning Approval Sheriff or Police Signature Repair Facility or Service Agreement Sales Tax License Secretary of State Branch Designation Fleet Insurance 2 Dealer Plates (Minimum) $10,000 Vehicle Dealer Surety Bond

Number of Vehicles Available per Household

This chart shows the number of vehicles per housing unit in Alpena County. We only need 2.4% of this market to reach our first-year gross profit goal.

Source: United States 1990 Census (April 1, 1990) summary tape file 3A. Tables compiled by the Alpena County Planning Department for Alpena County Planning Department for Alpena County municipalities.

Resumes and personality profiles of Budget Cars's management team.

CAREER GOAL

To own and operate a successful used-car dealership that I can devote all my energy and enthusiasm to.

WORK EXPERIENCE

Pine Country Ford, August 1986 - October 1990/July 1996 - Present (Sales Manager / Consultant)

*Create and maintain a diverse customer base *Conduct telephone interviews with potential customers *Maintain a thorough knowledge of all current inventory *Determine which inventory is marketable and contact buyers that may be interested *Persuade buyers into a oneon-one meeting *Recognize and satisfy customers' wants and needs *Assist customers in determining which vehicle and financing terms best fit their needs *Be the connecting link between the buyer and dealer while settling on a price which satisfies all parties involved

Alpena Ford Mercury, January 1991-June 1996 (Sales Consultant / Sales Manager)

*Oversee all sales operations to include showroom, display lot, and reconditioning shop *Appraise trade-in vehicles and offer a fair price that will encourage a sale and create a marketable trade-in *Order new vehicles from factory for retail and dealership inventory *Create a positive, enthusiastic atmosphere for the subordinate sales consultants that will promote increasing sales and high moral *Devise and carry out marketing plans to include advertising & promotions that will ensure growth and sales *Recognize customer needs and limitations through brief descriptions provided by sales consultants *Request and accept dealer trades that will satisfy a multitude of parties involved *Interact with the public on a constant daily basis in a positive, friendly, honest manner *Create and maintain a consistent marketable lot that will stimulate sales and growth through consumer tracking, market trends, and analyzing area economic status

United States Marines, March 1982 - July 1986 (Medical Administration Specialist)

*Decipher doctor-prepared patient charts and type them for future reference *Monitor, maintain, file, and organize patient records to ensure quality care *Operate all office equipment to include multi-line telephone, computer, printer, copy machine, facsimile machine

EDUCATIONAL BACKGROUND

University of Miami, Miami, Florida - December 1989, Used Vehicle Management

Ford Division Increasing Sales through Prospecting Course - April 1987

Ford Division Compact and Full-Size Light Truck Selling Course - March 1987

Ford Division National Walk Around Course (First place in competition) - February 1987

Roger Bolt Advance Sales Course - October 1986

Roger Bolt Professional Sales Course - November 1986

Alpena Community College, Alpena, Michigan - September 1981-June 1982, Business Management

*Psychology *Public Speaking

Central High School, New York, New York - September 1981-June 1982

*Algebra *Geometry *Accounting *English *Government *Economics *History *Social Studies

SPECIAL QUALIFICATIONS

*Ford Division Legend Leaders 300/500 Leadership Recognition Award 1995 *Top 10% Customer Satisfaction Diplomat Society Honors 1991, 1992, 1993, and 1994 *Ford Division Recognition for being the Top Salesperson for Alpena Ford 1990, 1991, 1992, 1993, promoted to Sales Manager in 1994 *Ford Division Recognition for being the Top Salesperson for Pine Country Ford 1986, 1987, promoted to Sales Manager in 1988 and in 1989 won Ford Division Professional Sales Managers Award, Top 10%

OUTSIDE INTERESTS

*Sunday School Teaching *Camping *Horseback Riding *Participating in outdoor activities with family *Gardening *Handy work around the house

REFERENCES AVAILABLE UPON REQUEST

Summary of Predictive Index Results

Name: Ben Heath Survey Date: June 12, 1996 Report Date: June 24, 1996

Ben is an engaging, stimulating communicator, poised and capable of projecting enthusiasm and warmth, and of motivating other people.

He has a strong sense of urgency, initiative, and competitive drive to get things done, with emphasis on working with people in the process. He understands people well and uses that understanding effectively in influencing and persuading others to act.

Impatient for results, and particularly impatient with details and routines, Ben is a confident and venturesome "doer" and decision-maker who will delegate details and can also delegate responsibility and authority when necessary. Ben is a self-starter who is skillful at training and developing others. He applies pressure for results, but in doing so, his style is more "selling" than "telling."

At ease and self-assured with groups or in making new contacts, Ben is gregarious and extroverted, has an invigorating impact on people, and is always "selling" in a general sense. He learns and reacts quickly and works at a faster-than-average pace. Able to adapt quickly to change and variety in his work, he will become impatient and less effective if required to work primarily with repetitive routines and details.

In general terms, Ben is an ambitious and driving person who is motivated by opportunity for advancement to levels of responsibility where he can use his skills as team builder, motivator, and mover.

MANAGEMENT STRATEGIES

To maximize his effectiveness, productivity, and job satisfaction, consider providing Ben with the following:

Opportunities for involvement and interaction with people
Some independence and flexibility in his activities
Freedom from repetitive routine and details in work which provide variety and change of pace
Opportunities to learn and advance at a fairly fast pace
Recognition and reward for communications and leadership skills demonstrated
Social and status recognition as rewards for achievement.

PETER JAMES

Occupational goal.

Seeking employment with a professional establishment that provides a challenging stimulating work atmosphere to individuals who demonstrate a positive self-starting attitude.

Alpena Ford Mercury, 1/17/95-Present Employer (Automotive Appearance Enhancement Technician) *Clean and detail engine compartments. *Strip excess finishes and imperfections with low RPM power wheel. *Repair minor scratches and discolorations of surface paints. *Rustproof over spray removal. *Paint Protection application. *Apply new finishes. *Perform interior cleaning and minor repair. *Apply dye to carpets and upholstery. *Operate industrial debris extractor. *Apply after market and OEM accessories.
American Waste Systems, 1/14/94-11/9/94 (Route Coordinator) *Maintain continuity of 10 collection routes by filling in and training new drivers for routes with short callings. *Organize route changes for maximum efficiency and make changes in computer automated route sheets. *Complete route audits and analysis.
Jackson's Disposal Service Inc., 1/6/91-1/13/94 (Collection Route Driver) *Operate manual and automatic transmission heavy trucks *Operate Clark Pneumatic Forklift. *Operate industrial recycling equipment such as cardboard baler, paper shredder, and glass crusher. *Operate FCC licensed two-way radios. *Operate front end loaders.
Holiday Inn of Alpena, 7/11/90-10/12/90 (Night Auditor) *Investigate cashier discrepancies *Credit card collection. *Complete computer automated audits. *Computer interfacing. *Accounts Payable/Receivable. *Word processing. *Facsimile sending & receiving *Modem communication. *Automated telephone switchboard operation.
United States Marines, 8/9/84-2/23/90 (Food Service Shift Leader, 4/1/89-2/20/90) (Shift Supervisor 3/10/88-4/1/89) (Night Auditor 1/1/86-3/10/88) (Desk Clerk 10/15/84-1/1/86) *Operate Wang Mainframe Computer. *Operate NCR cash register. *Utilize manual and computerized telephone switchboards. *Prepare City Ledger Accounts. *Accounts Payable/Receivable. *Bank deposits. *Assign Duties. *Prepare schedules. *Train personnel on computer. *Complete employee performance reports. *Meal preparation and stock ordering. *Calculate amount of food required for each day's consumption.
ASB Leadership School, June 7, 1989-July 6, 1989 *People/Resource Management
Alpena Community College, August 28, 1988-June 1, 1989 *Mathematics *Music
Community College of the Marines, October 15, 1984-February 23, 1990 *Hotel/Restaurant Management
Alpena High School, September 1, 1982-June 1, 1984 [Diploma 3.5 GPA] *Accounting *Algebra *Art *Geometry *English *Drafting *Physics

*Own and operate Acer 7100 personal computer with Microsoft Windows/Works & MS DOS. Also Installed Drivers for a Canon BJC 4000 Ink Jet Printer that is used with this computer. *Clean driving record with a commercial Class B endorsement. *Own & operate various Multi-Track sound recorders and mixers. *Perform extensive automobile repair & Car Stereo installations.

*Playing Guitar *Sound Recording *Operating my personal computer *Electronics *Automobiles *Home remodeling

Name: Peter James Survey Date: September 11, 1996 Report Date: September 11, 1996

Peter is an intense, results-oriented, self-starter, whose drive and sense of urgency are tempered and disciplined by his concern for the accuracy and quality of his work. His approach to anything he does, or is responsible for, will be carefully thought-out, based on thorough analysis and detailed knowledge of all pertinent facts.

Strongly technically oriented, he has confidence in his professional knowledge and ability to get things done quickly and correctly. With experience, he will develop a high level of expertise in his work and will be very aware of mistakes made either by himself or anybody doing work under his supervision. Peter takes his work and responsibilities very seriously and expects others to do the same.

In social matters, Peter is reserved and private, with little interest in small talk. His interest and his energy will be focused primarily on his work and, in general, he is more comfortable and open in the work environment than he is in purely social situations. In expressing himself in his work environment he is factual, direct, and authoritative.

Imaginative and venturesome, Peter is a creative person, capable of developing new ideas, systems, plans, or technology, or of analyzing and improving old ones. He relies primarily on his own knowledge and thinking, with little reference to others, relying as much as possible on himself alone to get things done. He will find it difficult to delegate, feeling strongly that if he is to be sure that something is done right, he must do it himself.

When, as a supervisor, it may be necessary for Peter to delegate details, he will follow up very closely and will be quick to spot and correct mistakes. His primary concern is to get things done right and quickly, and in accomplishing that goal he will be demanding of himself and others. While he may be perceived by other people as a rather aloof person, he will earn their respect for his knowledge of his work and the soundness of his decisions.

To maximize his effectiveness, productivity, and job satisfaction, consider providing Peter with the following:

Opportunities to broaden the technical knowledge of his work with learning experience in increasingly responsible positions
As much autonomy as possible in expressing his ideas and putting them into action
Recognition for tangible results obtained, rather than for political or selling skills

MARGERIE HEATH

To contribute the skills and abilities needed in the successful formation and continued operation of a profitable business.

Henderson Real Estate, June 1996-Present - Smith Realty, May 1987-June 1989 [Receptionist/Sales Agent]

*Receive and route phone calls *Arrange and store of documents *Prepare legal documents and business forms with word processor *Greet customers *Build and maintain a customer base *Identify the needs of customer requests *Present a list of available options *Conduct tours of properties of their interests *Acting as Liaison between Seller and Buyer to reach a result which is suitable to all parties

Hidden Valley Resort, June 1984-May 1996 - Duchess Inn, July 1987-January 1989 (Waitress/Hostess/Bartender/Supervision)

*Provide people a with warm, friendly atmosphere *Take orders and relay them to the kitchen staff utilizing a data processor *Fulfill orders and beverage requests in a quick and orderly manner *Monitor dining area and recognizing patrons' needs *Prepare guest check on computer *Process payment and provide correct change to guest *Recognize personnel shortages and take necessary action *Delegate responsibilities to co-workers *Train new personnel *Credit card collection *Prepare bank deposits

Michigan State University, September 1984-February 1987 *Business Administration/Psychology

Northern High School, September 1980-June 1984 *Business *Accounting *Algebra *Geometry *Pre-Calculus *English *Typing

*Maintain a valid real estate license *Teach Sunday School Courses *Full-time parent *Outgoing *6 year Cheerleader *Awarded for top monthly sales October 1995 *Caring *Enthusiastic

*Camping *Riding bike *Participating in outdoor sports of all kinds *Cooking *Playing cards *Gardening

Name: Margerie Heath Survey Date: July 10, 1996 Report Date: July 10, 1996

Margerie is a patient, stable, and cooperative person who will do her work as instructed and will depend on management and professional training to provide the necessary guidelines. She has the patience and tolerance required for routine work and can be relied on to do such work consistently and in a relaxed manner.

She will focus on the details of her work and will handle them with somewhat better-than-average accuracy. In work involving repeated contact with people, Margerie will be pleasant and agreeable, helpful and cooperative. She derives satisfaction from being of service to others, works comfortably under close supervision, and likes to feel part of a secure team.

Fairly easygoing, Margerie works at a steady, relatively unhurried pace and is comfortable doing the same things in the same way repeatedly. In the event of change in her work and responsibility, she needs to be given time to learn the new work thoroughly, which is best done with some opportunity for practice. Once having learned, she retains well.

In social terms, Margerie is unassuming, friendly and pleasant in general contact. She is a patient and willing listener, particularly with people she knows well and with whom she feels at ease.

Dependably consistent and steady in her work habits, Margerie will need close support and encouragement from supervision when she is required to work under pressure or in changing conditions.

To maximize her effectiveness, productivity, and job satisfaction, consider providing Margerie with the following:

Thorough, careful training in all detailed aspects and routines of her job
Opportunity for repetitive practice doing what she has been trained to do
A stable, familiar work environment and organization, with assurance of security provided by helpful, supportive management
Expressions of recognition for long service, cooperation and work well done
Assurances of stability, security, and continuity of relations with familiar coworkers

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Auction Flipping Cars For Profit: A Step-By-Step Guide

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Auction flipping cars is a great way to make money. It’s also a lot of fun and can be done on the side while you’re working full-time, or you can even turn it into a full-scale business. The concept of “car flipping” is relatively easy; you buy a vehicle at a reasonably low price, fix it up, and then sell it at a higher price for a nice profit. Some people might have a question is car flipping illegal? The process of buying, fixing, and selling cars is too lengthy and complicated, so is flipping cars profitable? The answer to these questions is, Yes Car flipping is legal, and yes and the process has become much more straightforward and profitable with regular local auctions and the introduction of car auction websites. An average car flipper can profit around $1200 per car (ridester), which is quite alluring!

What is Auction Flipping Cars?

Flipping cars includes buying a used car at a lower price and selling it quickly for a higher price. Usually, people prefer to flip used cars, but you can also find people flipping new cars. The buying and selling for flipping is done privately and not through a dealership. The auto market has changed in the last few years, and this is one of the numerous new opportunities that are now available to make huge profits.

Difference Between Car Flipping and Reselling

Flipping and reselling are often used interchangeably, but even though they seem similar, there is a critical difference between them. Flipping refers to buying something, fixing it up (if necessary), and selling it quickly for a profit. Reselling, however, may or may not be for a quick buck. Some resellers can hold on to their assets for a long time, waiting for the market demand to reach a peak or for the correct buyer to show up. Used car dealerships function along the same lines – acquire pre-owned vehicles, fix them up, and then list them for sale, waiting for interested buyers to show up. While the car flipping business might seem enticing, it isn’t without disadvantages. Let’s take a look at what’s good and what’s not.

What are the Advantages & Disadvantages of Auction Flipping Cars?

You can do an auction car flipping business for a living or as a one-time thing. Flipping cars allows a car enthusiast to delight in their interest and earn revenues. Here, we have discussed some pros and cons of flipping auction cars that will help you decide to take a step toward this venture.

How to Flip Cars?

Auction car flipping for car enthusiasts is a great opportunity to make some real cash. They can use their interest and knowledge to keep themselves engaged in the game of flipping cars. If you are new to flip cars and want to learn its trends. I have mentioned some golden points for you to begin your journey with:

Step 1. Look for undervalued vehicles

After knowing the state and local automotive codes and getting a license, find out where you can get your hands on undervalued cars. Common options include the following:

1) Certified Ad Websites: You can use car auction websites to find cars on the internet quickly. They usually have a search filter that allows you to find vehicles by make, model, or price range. Salvage Bid, eBay Motors, and Auto Auction Mall are great examples of such car auction websites.

2) Public Auctions: You can also visit local auctions to find cars if you are unfamiliar with how the car auction websites work. You can follow magazines, like Auto Dealer Today and Used Car Dealer Magazine, to find offline auctions. They provide helpful information, including where such events are scheduled.

3) Newspaper Classifieds: Be sure to check your local newspaper classifieds, because some traditional sellers advertise their cars in local newspapers only. You can also ask friends and family for leads on good deals in the local area. You can surely find some great deals on wheels there.

Step 2. Setting A Budget

Setting a budget for your car flip is essential. $1,500 can be set for a serviceable vehicle with moderate mileage, and you have experience flipping cars. The profit on such a deal can be between $500-$800. A higher budget can translate to a higher profit, but we advise against spending over $5,000 on purchasing a car because the number of potential buyers decreases at higher prices.

Step 3. Checking Market Value

Preparation can help you find great deals on undervalued cars. Before you go to an auction, research the market price for common models, make, trims, and model years. At a public auction, the organizers sometimes reveal the inventory beforehand, allowing you to conduct thorough research. This will help you find the undervalued vehicle that can fetch you the most profit.

Step 4. Inspecting the Interior and Exterior

Before bidding on a car, it’s time to ensure it’s in good shape. Here are some things to look for:

Dents, scratches, and other damages – Check for all the damage sustained by the car in its previous life. You’ll need to fix them all before selling the vehicle yourself. Significant damages will drive your profits down, so you should only select cars with minor, fixable niggles.
Rust – Rusting is one of the most common problems with old vehicles. If you see rust on a car, don’t buy it! Instead, try finding another vehicle that doesn’t have any rust problems at all.
Low mileage – If a car has low mileage and looks like it hasn’t been driven much, this could be an ideal purchase opportunity for you!
Potential for sale – Remember that you’re buying a car to sell it for a profit. As such, the automobiles you select must have the potential for further sales. If there isn’t any at all (or very little), then why bother buying it?
Documents – Never buy a car if its papers aren’t in order. As you have to sell it forward, improper documentation will only hurt your sales.

If you’re buying online, look closely at all the pictures and videos available. If possible, contact the seller directly and ask them about the details. We suggest checking the car out in person and performing a thorough vehicle inspection to know about all its flaws and shortcomings.

Step 5. Buying the Car for Flipping

If you’ve done your research and followed the steps above, you probably have a great deal in front of you. The next step is to buy a car. When purchasing through an online auction site, know what vehicle you want so you don’t waste time comparing makes and models. Any time lost will let other potential buyers swoop in and steal it. Try to get in touch with the seller directly before bidding on their car; they may have some information that will help narrow your search (for example: how much time has passed since their last transmission service?). That could save both parties time by avoiding unnecessary back-and-forth emails about whether or not certain things need replacing/updating/fixing. However, remember that this isn’t always possible through car auction websites.

Step 6. Fixing Issues and Getting the Car Detailed

Complete the necessary repairs and then list the vehicle for sale. The selling price will have to be reduced if the buyer has to do additional work on the vehicle before they drive it. It is an excellent practice to get the vehicle’s detailing done by a professional. The interior and exterior should be detailed to impress the buyer.

Step 7. Sell Your Car

Now, it’s time to sell. Choose the right platform to sell your vehicle – whether you want to go for offline or online means. In the former case, you can go for private buyers or a collector (if you have a classic car). For selling it online, you can choose from many different websites. You can sell your vehicle on a regular online car retail platform, like Carvana and CarGurus, or opt for online car auctions . And also choose your platform wisely, as not all have the same services and client base. When selling cars online, write attractive description text and include high-quality images and videos with each listing so that potential buyers can get a virtual feel for the car without any hassle. Whereas, If you’re unsure about spending bucketloads of money on photoshoots, try an automated car photography and editing platform like Spyne.

How Can You Make Money from Auction Flipping Cars?

Flipping cars can be a source for you to make revenue however, it requires some knowledge, effort, and some capital in starting. If you are a car enthusiast and have an interest in cars, car flipping can be a decent option for you to make some cash out of.

1. Finding Undervalued cars: Hunt for some cars in the market that are available at a lower price due to minor mechanical problems or issues in their appearance. You can also find some great cars from owners who are unaware of their actual worth. Whereas, you can browse some online marketplaces to make your hunt easier.

2. Evaluate the vehicle’s potential: After you are done with your hunt, you have to analyze the amount that the car would take on required repairs and what could be left profitable margin for you. Additinally, Consulting it with a mechanic could be a wise decision before moving forward.

3. Make a purchase: Negotiate with the owners based on the cost of repairs that would be spent on the car. Carry all the required document papers to make the purchase hassle-free.

4. Get it repaired: Utilize your mechanical knowledge and take your car to a mechanic, Make wise decisions and get your car fixed. Prioritize the valuable things required in it like mechanical or functionality issues Get them fixed over unnecessary cosmetic fixes.

5. Make a sale: Set your selling price at a competitive rate and advertise it on various platforms for a quick sale. Be transparent while describing your vehicle, and always highlight the strengths the vehicle owns. High-quality photos are required to attract the attention of buyers you can use the Spyne AI tool for your car photoshoot.

What are the Best Cars to Flip for Profit?

Auction flipping cars is a great way for car enthusiasts to earn some real cash. Additionally, If you are new to auction flipping cars you can look for the cars which are in the highest demand. Cars that do not require much reparations can be considered as a good choice to flip. You can find some demanding vehicles which are in trend below, to start your flipping business:

1) Japanese Cars

A new to this field can start their game with Japanese cars. These vehicles are not expensive and do not require much mechanical repairs also their availability is in tons. Therefore, you won’t find much complexity if you proceed with these cars in starting.

You can start with the Japanese cars which are listed below:

Toyota Pirus: Owners find that the battery hybrids are expired and not very effective, however, you can surely install a new battery.
Honda Civic: One of the best city cars which is always in demand.
Toyota Corolla: One of the best cars to start your flying with as it has excellent fuel efficiency.

2) Classic Cars

You can surely opt for the cars from the golden era (1950s – 1960s). And also, It is not easy to bring out a good deal from the owners of these cars which are in great condition, you must look for someone willing to restore their classic.

You can look for these Classic cars listed below:

1965 Ford Mustang: You can find the parts very easily of this car. Once you finish with restoring, finding owners of these classics won’t be a problem.
1969 Two-Door-Chevy Nova: One of the most popular and elegant cars.
1950s Chevy Bel-Air: One of the best-defined cars of its segment, there won’t be any problem finding a collector of it.

3) Pick-Up Trucks

Locations that have a lot of farms or manufacturing plants have a huge demand for trucks. You won’t find any buyers in the city or a populated area. However, pickup trucks can be considered a good source to generate revenue. Pick-up trucks usually have a high margin. Whereas, you might have to hunt for the buyers.

4) Minivans

Japanese models are the best option for minivans, there is a huge demand for families for these vehicles. Additionally, There are a lot of types of minivans, some of them are listed below:

Honda Odyssey: You will find these vehicles at an affordable price however, there might be transmission problems in most of them.
Dodge Grand Caravan: You can sell these vehicles to small families who are looking for a bigger space to live.

Sport utility vehicles (SUV) popularity has been in the limelight for the past 30 years and has been increasing. Additionally, You can target people with off-road capabilities or interests and people who have a large family.

GMC Yukon: A well-reputed and highly demanding SUV with a minimal repair cost of around $500.
Toyota RAV4: You can earn maximum cash with this SUV because it is highly popular and widely available.

6) Pre-War Cars

These cars are mostly in a total loss condition, the parts are highly expensive and it is rare to find a car even if its original parts aren’t available, you might have to do modifications and might have to attach newly modernized parts. Investing in one of these cars can be a very good source for your cash flow. Flipping any one of these cars like Ford, Cadillac, Bently, or Astin Martin can make you a great revenue and cash flow.

7) Sports Cars

People do not prefer flipping sports cars as they lose their value after an upgrade to a new one. However, there are still a few cars in the market that hold their worth in the market, and you can generate a good cash amount of it.

Audi TTS: You might have to do a lot of research to find a buyer for this car, however, it comes with a sleek design and a good horsepower.
Chevy Corvette – It comes with a mix of luxury and sports cars.
Porsche: This car looks so attractive and sporty however, the margins are less.

Flipping a car includes buying cars at a low price and selling them quickly for a profit. Auto auctions are an excellent place to buy undervalued cars for flipping, and also car auctions can be used to sell your flipped car. We have already discussed the steps to be followed from start to end, but after everything has been done well, how fast your car sells will come down to your listing. High-quality images and 360 car photography can go a long way in helping you boost your business. If you do not want to burn a hole in your pocket for this, book a demo with Spyne today.

Q. Is flipping cars profitable?

Yes, it can be profitable. The profit depends on the vehicle you buy, how much you pay to fix it and how much you manage to sell it for. If the car you’re selling is in good condition and in demand, you’ll surely drive home with a heavy wallet.

Q. How do you flip a car for profit?

There are many auctions in the local market or on car auction websites. Once you’ve found the right auction, it’s time to determine what cars to buy. It’s crucial that you know what your budget is and how much profit you can make on each car. You don’t want to overpay for a car just because it looks good or has low miles, but don’t underpay either, lest someone steals your deal.

After acquiring a vehicle, you need to fix it up and make it ready for sale. Once that is done, choose how you want to sell your car – offline or online. Next, set a reasonable price that should be high enough to bring you profit but not turn away buyers.

Q. How much profit do car flippers make?

Profit margins can be high, with reports suggesting an average gain of $1,200 per car! However, it is a risky business. The vehicle you’re buying and selling may have been in a horrible accident, leaving it too damaged to be easily repaired, or it might just be a lemon.

You could lose money if you buy something that’s not worth selling forward, or if there’s some other issue with the vehicle that no one told you about before (like transmission problems, etc.). If everything goes well with your flips, then great! You’ll make some good cash on the side

Q. How Much Can a Car Flipper Make?

A flipper can make $1200 per car. However, it is based on your skills and success. Most entrepreneurs have a full-time job and they flip vehicles as a part-time job. If you only flip cars, you may not have a considerable overhead cost.

Q. What prevents a car from flipping?

The owner has a desired expectation of his car and they might not be satisfied with the deal offered.
The vehicle’s owner has an emotional connection with the car and doesn’t want to sell it.

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How to become a car trader

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The used car sales market is likely to be one of the biggest winners of the current economic downturn. The cost of living crisis has hit many UK households hard, and with NI increases and rising taxes, we all will be aiming to minimise our expenditure – including on car purchases.

But despite the demand, the sector is not without challenges. New data from Auto Trader shows that the average asking price of a used car in 2023 stood at £17,712. This represents a 2% spike from the previous year and has been accelerated by a global semiconductor crisis.

Clearly, the potential to succeed in the used car trade business is there. But as costs rise, how do you become an affordable supplier of second-hand vehicles and capitalise on this growing market?

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There’s a huge amount of planning that needs to go into launching a car trading business. Thankfully, one area which needn’t cause undue stress is creating a website to promote your business. Thanks to modern templates like the one below , you can create one of your own in under an hour.

At Startups.co.uk, we test and rate website builder tools, and we’ve identified Wix as one of the best you can choose for creating a business site. Wix even has a selection of custom website templates designed specifically for the automotive industry – you simply drop your own company information, wording and preferred imagery into your chosen template. Better still, it’s completely free to try for yourself.

To become a successful car trader, you don’t need to be a petrolhead. But you do need to know how to strike a deal, recognise a bargain when you see one, and understand exactly what your target market is after. Get that right, and you could see profits of £200 to £2,000+ per sale – all for a couple of hours of work.

We will cover all of this information and more in this extensive ‘how to’ guide, as you learn about the eleven steps needed to build a winning car trader business plan, such as registering as a sole trader and applying for trade plates. Start your engines…

In this article, we cover:

Researching the market
Writing a business plan
Getting Motor Trade Insurance
Applying for trade plates
Buying a car to sell

Some tips on buying used cars

Start selling cars.

Registering as a sole trader

Soft skills you need to be an excellent car trader

Creating a company and career progressions, taking credit card payments.

At Startups.co.uk, we’re here to help small UK businesses to get started, grow and succeed. We have helpful resources for helping new businesses get off the ground – you can use the tool below to get started today.

What Does Your Business Need Help With?

Research the market

The first question you need to ask is simple – what type of car are your buyers after?

Car sale trends are in the midst of a huge shift, as diesel car purchases continue to decline year on year, electric vehicle sales continue to increase. The SMMT reported that one in five new cars registered last month are ‘zero-emissions capable’ as 33,000 new battery-powered cars were purchased from showrooms in September.

So, you’ll want to avoid delving too deeply into diesel car sales and instead focus primarily on petrol and electric vehicles to ensure you get the balance of supply and demand just right.

You should also keep an eye on what’s going on closer to home. For example, Clean Air Zones are in operation in and around the UK’s major towns and cities, which means a gas guzzler with high emission levels may not be the easiest car to sell.

An excellent source of automotive stats is the Society of Motor Manufacturers and Traders (SMMT) . As well as representing the interests of the industry, it provides a wealth of car data and research valuable to someone new to the market, including:

Used car sales data
Car registrations
Sustainability

So what cars are selling?

Keeping up to date with buying trends is the first step to knowing which cars are the best to buy and sell.

The latest data from SMMT states that Ford Fiestas and Vauxhall Corsas are the best-selling car models so far in 2021, with 27,381 Corsa registrations and 24,578 Fiesta registrations respectively. Purchasing these models is a sure-fire way to guarantee interest and get you that step closer to an easy sale!

How should I price my cars?

There are lots of factors that could affect the value of a car. These include:

Overall condition
Modcons (e.g. aircon, Bluetooth, hands-free, heated seats)
Type of engine

To find out how the above factors could affect the value of the car you’re selling, local market research is key .

Hop onto sites like Autotrader to gauge the guide prices for cars of a similar spec. You’ll then be able to offer a fair price while keeping profit margins in mind.

The other thing to think about is the time of year .

For example, convertibles tend to sell for more in the warmer months, meaning purchasing one in late winter and selling it in mid-spring could be an easy way to see a profit.

Or consider the fact that a lot of students learn to drive in the summer holidays, which means there could be a higher demand for cheap runarounds in the summer – and we all know that when supply outweighs demand, prices increase.

How long does it take to sell a car?

While data collected by Autotrader suggests it takes on average 25-45 days to sell a car, if you judge demand right, you could see it rev off your drive in less than a week.

Just make sure you factor in the time it takes to sell a car into your business plan. This is so you can assess the viability of your new venture. If you constantly have money tied up in an undesirable vehicle, you may experience cashflow issues, and end up losing money in the long run.

Write a business plan

This may seem like a premature step when you haven’t even bought your first car, but having a roadmap is essential to visualising the direction in which you want your business to go.

And a business plan doesn’t have to be complicated, especially when it comes to setting up a car trader business. In fact, Andy King, founder of original car buying comparison service JamJar , says:

“A successful business plan for automotive companies [is] more of a guideline for the future. After all, startup costs are low, you have zero or few employees to worry about, and you haven’t got a huge original outlay to claw back. It’s more about giving yourself that “‘wiggle room’ [to] scale the company, [so it can] become what you want it to become.”

To start, you’ll need to carry out projected calculations for each car you sell. This will help prevent you from carrying out any work which may breach the ceiling price of the car.

You should factor the following into your car trader business plan:

Any repair issues the cars may have
Any aesthetic improvements you might want to make
Legal regulations and marketing considerations you will want to be aware of

Once you’ve worked out your costs, you’ll know how much you can afford to pay for a car, and can assess if you need to raise any finance.

You’ll also be able to work out how much you can afford to sell the car for, and estimate any profit. This can then help you set financial goals for the rest of the quarter/year.

It might be that you aim to have enough cash to start selling two cars at the same time. Eventually, you may even be able to plan ahead so you have enough cash to purchase or lease a premises, and turn your side hustle into a full-on business.

Need help organising?

Project management software is a useful tool for organising your business plans. Create simple workflows to help arrange your own time, or the time of your teams and colleagues.

Find out which project management software we think is best.

Selling cars from home is a great way to save money when you’re starting out as a car trader. If this is the route you decide to go down, you’ll need to notify your local council in order to ascertain how many cars you can have parked on the road at one time.

Find and contact your local council here.

Get accreditation from the Motor Ombudsman

The Motor Ombudsman is an impartial dispute handling service. By becoming accredited, you’re telling your customers that you’re dedicated to providing an honest, high level service.

And if a buyer does raise a complaint, the Motor Ombudsman will guide you through the dispute resolution process so the complaint can be resolved fairly.

But that’s not the only reason why you should get accreditation from the Motor Ombudsman.

Here’s a list of benefits:

Get unlimited access to its information line and adjudication service
Use of the Motor Ombudsman logo
Collect valuable feedback from your customers
Set up a customisable profile page to promote your business
Get access to Alternative Dispute Resolution and Consumer Rights training
Benefit from increased exposure and potential buyers!

How do I do it?

You’ll need to head over to its Register Online page. From there, you’ll be asked to call them, or fill in the online form. Either way, you’ll need to dedicate some time to chat over your application with a member of its business services team – we reckon it’ll be worth it!

Get Motor Trade Insurance

Once you’ve been given the go ahead by the council, you need to get yourself some Motor Trade Insurance, which covers all cars in your possession so they don’t have to be insured individually.

Motor Trade Insurance is a great option as, unlike private insurance, it allows you to add and remove as many cars as you like without having to pay additional costs.

There are four types of Motor Trade Insurance:

Road risk – the minimum cover necessary to satisfy the legal requirements of the motor trade. Only covers vehicles registered on the Motor Insurance Database (MID)
Third-party – covers you in the case of an accident that damages another vehicle
Third party, fire, and theft – covers everything above, as well as in the event of theft or fire damage
Comprehensive – covers all scenarios mentioned above for any vehicle you own, and allows you to claim for personal injury

Want to learn more about motor trade insurance? Visit our guide.

Apply for trade plates

Next, you need to apply for trade licence plates . These are mobile tax discs that save you having to tax and register every car that is temporarily in your possession.

Apply to the Driver and Vehicle Licensing Agency (DVLA) for a trade licence to be able to use trade plates.

These plates last for between six and 12 months, and expire on 30 June or 31 December. First time applicants can apply for seven to 11-month licences.

Buy a car to sell

There are a few different avenues you can go down when purchasing a used car. These are:

Auction and listing websites (such as eBay)
Car selling sites (such as Autotrader)
Auction houses

Just bear in mind that auction houses, while being the best place to get a bargain, come with the highest purchase risk. This is because you have less legal protection at an auction house, and you don’t always know what you’re getting.

Make sure you thoroughly check the terms and conditions and background of the vehicle, otherwise you could end up purchasing a can of worms.

Our tip – if you’re not an auction aficionado, make sure you visit a few times before making a purchase.

No matter where you decide to source your cars from, make sure you do the following:

Check the condition of the car you’re buying – use the government website to check out the car’s previous MOT history
Ask for the service history – the car could be worth up to 26% less without its log book
Make sure there are no outstanding hire purchase or conditional sale agreements – otherwise the car is unsaleable
Take the car for a test drive to see how it feels and functions. Test the brakes, examine the lights, ensure the gearbox transitions smoothly
Make sure the vehicle has a V5C registration document, which is used as proof of ownership – without it, it could be the case that the car is stolen
Ensure the purchase is in line with your business plan. Will it give you the profit margin you need?

A V5C registration certificate registers your vehicle with the Driver Vehicle and Licensing Agency. (DVLA)

It includes essential information such as the date the car was first registered, its manufacturer, its engine size, and who is the registered keeper – i.e the person responsible for taxing the vehicle (not necessarily the owner).

Here’s what you need to do to get your vehicle ready for resale, and what to do when there’s interest.

Getting the car out there

Make sure the car has passed its MOT – otherwise, you’ll find it hard to sell on. It may also be worth sorting out any advisories.
It’s always a good idea to get the car valeted to give it more appeal
It doesn’t cost much to touch up any scratches. It may even be worth getting the car resprayed
Once you’ve carried out any work, get the car listed on websites such as eBay and Autotrader. You could even investigate local newspapers or car dealer magazines
Make sure you take some clear photos of the car – inside and out – and list all the relevant information

Keep on top of your finances

Starting a business takes money and time, and accountancy software can help with both. Whether you’re self-employed, a sole trader, or running a business with staff, you’ll need to stay on top of your finances. If you’re not ready to employ an accountant to help out, then we suggest using an online accountancy tool.

If you’re ready to buy and sell cars, you will want to make sure you have the right tools and processes in place to keep track of your money. Keeping an eye on your outgoing cash and incoming revenue is a necessary part of any successful business. But you don’t need to rely on spreadsheets and manual documents if you want to make life a bit easier.

Accountancy software is designed to simplify the complex processes related to money. From tracking your outgoings to managing your taxes, you’ll find any finance process simpler with the right tools in place. Take a look at the accountancy software that we’re rated best .

Or, take a quick look at our top recommended picks for accountancy software below:

eBay takes 10% of up to £250 of the selling price. Meanwhile, Autotrader offers a range of listing packages, with a basic package to list a car worth over £1,000 costing £36.95.
Ensure any work you carry out doesn’t breach the ceiling value of the vehicle – otherwise you could be in for a loss!

What makes a good car ad?

A detailed description, including unique and noteworthy features
The asking price and negotiating terms (be realistic)
The mileage
An honest assessment of the car’s condition and any issues
Plenty of photos
Maintenance and service history

Some tips on selling cars

It’s not all about creating a great advert – you need to be mindful of the legalities, too.

Make sure you observe the Consumer Rights Act (2015)

What does this mean?

The vehicle must be of satisfactory quality. Simply put, the condition of the vehicle should be what any reasonable person expects.

The vehicle must be fit for purpose. In other words, the buyer should be able to use the car for the purposes any reasonable person would expect, including purposes advertised (e.g. towing).

The vehicle must appear as described. This ensures that you are not liable for any damages that have been pointed out, nor any breakdowns that may occur through normal use after purchase.

Also…

Be transparent – tell your buyers everything you know about the car, or else there could be legal consequences
Remember that the buyer is entitled to a repair, replacement, or refund unless you can prove a fault wasn’t there at the time of purchase
Take the buyer for a test drive – this is a good opportunity to tell them about the car
If the buyer agrees to purchase the car, make sure you both fill out the relevant parts of the V5C and send it to the DVLA – don’t let buyers take photographs of the documents (to avoid fraud)
You can choose to set your own warranty, or not have one if you wish. Just remember to provide the buyer with a receipt if you do include a warranty

Register as a sole trader

Once you’ve sold your first car, you should register as a sole trader (read more in our guide on how to register as a sole trader ). It is important that you inform HMRC once you start trading so that you are registered for self assessment tax. You could be fined if you don’t do this!

As you start buying and selling more cars, you may decide to form a company rather than operate as a sole trader (read more in our guide on sole trader vs limited company differences ). Even if you don’t set up a company, you may want to set up a separate bank account for your car trading activities to be able to track them more clearly.

While you don’t quite need the selling charisma of Del Boy to become a car trader, you do need to have a certain air of confidence, and the natural ability to negotiate and overcome objections. We’ve summarised the key skills you’ll likely need below:

Ability to give great customer service
Likeability – customers need to be able to warm to you
Strong negotiation and objection handling
The ability to set and meet sales goals (remember that all important business plan!)
Honesty, and the ability to see from the customers’ perspective
Maths skills

A winning personality might not be enough to earn the trust of potential clients. Creating a business email can help you appear more professional, and will also help you keep on track of your communications. Read our full guide on how to create a business email .

So you’re making lots of money, you know you’ve made the right career choice, and now you want to expand your car trading business beyond the driveway. To create a proper company, you’ll need to create a succinct plan featuring KPIs (key performance indicators) to keep you in line.

First things first – you don’t need to go at this alone. Michael Austen, CEO of Big Van World , successfully grew his business from a small van trading startup to a thriving enterprise with an £18m turnover. He says:

“If you find it difficult to translate your vision into a plan involving KPIs etc., then bring in someone who loves that kind of thing to formalise it for you. Someone who will help you take that vision and turn it into something more formal. Accept what you are good at and let others do the rest.”

It’s also about employing people that share your vision. Austin says: “For a plan to succeed, you have to have good people around you – a good team.” So if you’re looking to expand your business, make sure you do it alongside people who are going to help you make the next chapter a success.

So how do you go about turning your side hustle into a fully fledged business? Well, there are two clear options.

1. Franchise

Having a recognisable name attached to your business always helps to get customers through the door. If you manage to get your hands on a franchise agreement, you’ll be able to partner with car manufacturers who’ll let you use their branding and their marketing material.

Becoming a recognised dealer isn’t easy, though. You’ll need to have all the figures which prove to the car manufacturers that you’re the real deal – that you can sell a car, or two, or three, and make a decent profit.

2. Consider financing

If you want to expand, but don’t have the capital to do so, you can ask the bank for a business loan.

Again, this won’t be easy. You’ll have to present them with clear projections and a well-drafted business plan for the bank to even think about handing over its wad of cash. And bear in mind that you’ll need to be prepared to forfeit your cars and any other assets as collateral.

An increasingly high percentage of car purchases are made using credit cards. Such cards present a range of advantages to the customer, including:

Avoiding paying interest
Protection by Consumer Credit Act 1974
Various reward schemes

Not taking card payments could be a major disadvantage for your business. Think of all those high-value sales you could lose!

Here’s what you need to take card payments for cars:

A merchant account

A merchant account is simply a type of bank account that allows you to accept credit or debit card payments.

It automatically authorises card payments made to your business for a small fee, and then deposits the earnings from the sale in your bank account.

Merchant accounts can also protect against card fraud.

Check out our comparison of the UK’s best merchant service providers

Card machines for small businesses

You’ll also need a card machine to take credit card payments.

Card readers are becoming increasingly compact and powerful, and there are many providers to choose from.

Most have similar functionality, so you’re likely to base your decision on:

The transaction fee (usually between 1-2% of the value of the payment)
Reliability

Not sure which card machine is right for your car trading business?

Not to worry – we’ve compared the 6 best card machines for small business so you don’t have to.

Becoming a car trader: main takeaways

So there you have it – your guide to becoming a car trader.

It’s a lot to take in, so we’ve summarised the article into three clear points.

It’s not hard to start a car trading business – at least not if you’re looking to buy and sell cars off your driveway. Just be clever with the cars you acquire, and make sure any work you do to them increases the value without breaching the ceiling price of how much you can actually sell the car for.
Make sure you cover your own back. That means you should conduct business ethically, and sign up to the Motor Ombudsman just in case you need a third party to resolve a dispute fairly.
Make sure you have a business plan, especially if you want to expand your business in the future. A potential franchising partner, or bank manager, will want to see proof that you’re the real deal before signing over any money.

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StartingABiz.com

Insider Secrets for Starting a Successful Business

Starting a Business Buying and Selling Cars

⭐ To learn more about the book, click here . ⭐

Steve, how did you get into the business of buying and selling cars? Talk a little bit about what your background is.

I used to be in construction for many, many years. I was a custom cabinet maker, had my own little shop, did really nice work. But the problem is, I was really, really burned out on it. Now, the money was good, but without getting into a long depressing story here, I was literally holding my mom’s hand as she took her last breath. I just decided right then and there that this passion I have for wind surfing, I needed to really go for it. So, within six months I had moved my wife and two little kids to Hawaii.

What happened is, I was looking for a car for my wife. I came across this one, and I was able to buy it really inexpensively. It only had something like 40,000-something miles on it. She didn’t like the car it turned out and so I fixed it up and cleaned it up and sold it. If I recall correctly, I made $1,200, $1,400 profit. Boom, just like that.

Even though I had shipped all my machinery over and all that stuff to ultimately do cabinets even on my own in Hawaii, I didn’t really want to. But, again, it was my skill. It was my trade. I ended up buying and selling cars for profit and wind surfing. I remember going quite a while wondering if I could still make a profit with the car thing.

I certainly made mistakes because I didn’t have a mentor, or I didn’t have any information on, “Don’t do this. Do this.” So, that’s what happened. I ended up living quite well and supporting my family, and living in one of the most beautiful places on Earth and really fulfilling this passion I had at the time, which was to wind surf. So, that’s how I got started, Matt.

How much money do need to get started buying and selling used cars?

That first car I bought only cost me, I think it was $400 or $450. It doesn’t cost much to start. There are cheap cars out there that are not as common as cars that cost more. When they are available, you have to know what to do and how to jump on them and all kinds of those little techniques I go through in the book , so that you can be first in line. It is realistic you could start for $500 to $1,000. How much can you expect to make in the first month or two doing this?

I don’t like to make income promises. I look at this as we’re all very different people. Let’s say you asked me this, I’d say, “Well, I don’t know you well enough Matt. I don’t know your work ethic.” So, everybody is different. Some people can really know how to put their nose to the grindstone.

To answer the question, starting out on a very part-time basis, make profit of a couple thousand dollars a month, and I’m talking extremely part-time basis, yeah, it’s possible. But disclaimer, disclaimer. It’s kind of tough because we’re all so different.

That’s the honest answer, Matt. I don’t believe in get rich quick. I have one guy on my website I feature. His name is Nick Roy. He’s out of the business now only because he’s in college to be a financial planner. But this guy was making many, many thousands of dollars buying and selling cars. He was obviously an extraordinary person.

Is this is a job that you can do part-time well? Can you keep your full-time job at least for a while and get the business going?

That really is the beauty of buying and selling cars for profit, in that it is scalable to whatever your needs are. I have people that are retired. They’re doing their thing, and they only care about selling a car or two a month and that’s it. Then I have people with full-time jobs that they have no intention of ever quitting. They like their jobs, whatever. I don’t know. The benefits are good.

Their attitude is, sell a car or two a month. It helps pay bills. They might put it in their vacation funds. Then, I have other people that just go into it full-time. It’s great that you can ratchet it up and you can ratchet it down if, let’s say, you want to take it easy for a while. That’s kind of one of the beauties of this business.

Talk a little bit about what areas are best for this kind of business. Is it better to be in a more rural area or a city? Or what’s the best area to start this kind of business?

I started on an island with a finite supply of cars to choose from. It was a tough environment, but I still did it and made a go of it and lived quite nicely. I would say a bigger city, obviously, there are more choices. But I started – not only was it a small rural area, but it wasn’t like as far a low population. But it wasn’t like I couldn’t jump in my car and drive 45 minutes or an hour north to another city. I think it can work anywhere. I really do.

Let’s get into the nitty-gritty a little bit. Obviously, you have to buy a car for less than market value. What kind of profit margin do you have to have to make the whole thing worthwhile?

For the average person, it’s just whatever deal makes sense. I’m thinking of a car I bought once many years ago. I bought it for $150, and I sold it within 15 minutes for a $200 profit and it was this cheap car. I’ve had other cars where I’ve bought, and I’ve sold them within an hour for a substantial profit.

To answer your question Matt, I never look at it as, okay, I need to make, whatever, 35%. I’m not that kind of guy. I look at the car, and based on my price research that I’ve done, I look at it like, “Okay, I need to negotiate the hell out of this,” or whatever the case is.

Or sometimes people sell cars for just ridiculously low prices because they just are clueless. It happens. I kind of look at what I think I can get and what I think I can buy it for, and if it makes sense, great. I go for it.

What kind of car should you focus on buying in order to maximize your profit and your chance of selling quickly? Should you be looking for Toyota Corollas and Honda Civics and that sort of vehicle? Or what’s your thought on that?

Yeah. You kind of nailed it there. When you learn how to buy properly, which I teach, Toyotas, Hondas, and Nissans, it’s like shooting fish in a barrel. All three of those manufactures are recognized as good quality cars, in other words, a bit of a hiccup with the Toyotas a few years ago. Most of it was media hyped. But the bottom line is, people still recognize those three cars as being really good.

Again, once you learn how to buy right, and you learn what to do and what not to do when preparing the car for selling, and you learn how to advertise, your phone, seriously, can ring off the hook with Toyota, Honda, and Nissans.

Then again, they’re not the only cars. They’re a pretty good safe way starting out. There will be more competition to buy them, of course, because they’re very in demand cars. They do tend to have very good resale value, which also can shut you down if you don’t know how to negotiate and know how to price, know what a car is worth. But I’d day those three are a good safe way to get started.

There must be a certain sweet spot when picking the model years of the cars you buy. Should you look for cars that are maybe just a few years old or can you also make money with older vehicles?

There is a sweet spot, and the sweet spot isn’t so much, year along with those three, Honda, Toyota and Nissan. I would also say a good safe range, as far as price goes, is any cars up to $5,000. I’m talking anything, $300 to $5,000. There is not low-end figure there obviously. The reason I say that is because there’s a huge segment of the population out there that only buys used cars. Regardless of what the economy is doing, they only buy used cars.

There’s also a huge segment of the population that only buys relatively inexpensive or even cheap used cars. That’s just all they can afford. Well, the advantage to up to the $5,000 plus or minus figure is because people either have that money in savings, they can borrow from friends or family to get a car, it might be easy for them to even get a personal loan from their bank, transfer out of a credit card.

Bottom line is, it is just a lot easier for people to get their hands on the money for cars up to $5,000. So, I always tell my readers to kind of stay in there, at least starting out. It doesn’t mean you can’t do other things later, but it kind of, again, it minimizes their risk because they are just a lot easier to sell.

What if you are not a mechanic and you’re not that great at recognizing which car problems are minor inexpensive fixes versus major expensive types of repairs, transmission problems and that sort of thing? What are the red flags you should look for?

Transmissions are just as simple as shifting in each gear and making sure you check that the thing goes in reverse. Amazing sometimes I’ve gotten people who they bought the car and found later that it didn’t go in reverse because in their test drive and inspection, they never checked. So, that’s simple. There’s a thing called “flaring” transmissions do where, like an automatic for example, when as they shift, they kind of hang up a little bit between, let’s say, shifting from second to third. Sometimes the problems could seem significant, but they aren’t because they just require some transmission fluid.

I really do go into that stuff because, again, I’m not a mechanic, don’t want to be one. I have a car inspection checklist and I’ve really gone through that and really refined it to go down the list, “Okay, check this. Now check this.” You’re not going to be doing that a year or six months from now. But at the beginning, it’s a huge confidence booster for anyone that knows nothing about cars, because it’s kind of a no-brainer the way I have it set up, even for people that aren’t fairly knowledgeable about cars.

So, the nice thing about this, it’s very systematic. Step one, step two, step three, and it all fits on one page the way I have it. You can print it out and take it with you. The red flags, is smoke coming out of the tail pipe, but then it depends on the color of the smoke. I talk about the difference between what I call inexpensive noises and expensive noises, lower-end noises like a rod knocking or a very specific sound. I discuss that because that means the engine is shot, and you’ve got to get a new engine.

I don’t want to go into all the details because it would be boring. But I have it covered because again, I don’t come from a mechanical background. I have learned how to very intuitively know what’s going on. I guarantee you everybody that does this for a while, even within a few months, you start to get a really good feel on whether the car is mechanically sound or not.

Have you ever bought an as-is, where-is car that might not start and have it fixed and brought back into service? Or is that just kind of a recipe for going broke?

Yeah. It can be. One of the very important things I discussed in “ The Lazy Way to Buy and Sell Cars for Profit ” is assembling a team. These are not people that are paid employees in the sense that you got this fixed overhead. But it’s always to have a mechanic in your back pocket, so to speak. Try to find a guy that maybe just likes to do it in his free time and charges a heck of a lot less, but he’s good.

I’ve had people like that before, that just like to fool around with cars. This guy would come home from work at night from a very different job, and he liked to tinker with my cars. He was very inexpensive and he was good and he was honest. He never jacked me with the price, ever. So, yeah, to answer your question, I’ve had a couple of dogs I’ve bought. But my mechanic was able to turn it around.

Do I recommend that to beginners? Not really. Not unless you have somebody that’s really cheap, and you’ve bought the car just ridiculously cheap. I recommend beginners start with cars that run decent. It’ll make your life a lot easier.

I didn’t know what the hell I was doing when I started. I lucked out with that first deal I told you about. But sadly, I get emails and calls from people from time to time who didn’t know what they were doing and didn’t luck out, and unfortunately invested a lot more into the cars.

Sometimes you can even arrange in the beginning if you want to take that guy with you. There are different ways you pay him. You could pay him by his hourly time or you could even cut him in on the profit if you’d like. At the beginning, I don’t recommend you rely on that. You want to be as self-sufficient as possible.

How do you know if a car is stolen? Do you always do a VIN number check? Is there an easy way to find out?

Yes, there is an easy way to find out. Do I always? No. I should. There are ways to cross check the VIN, Vehicle Identification Number , and there are things like Carfax . But there are very simple ways that you can within just a minute check to make sure. I know a lot of people are concerned about that, and it’s a good question. Maybe I’m just naive and I trust people too much.

So, you’ve bought the car, you’ve got a great deal on it, and now you need to sell it in order to realize your profit. So what are some of the best ways to advertise a used car for sale? Do you want to use Craigslist, the newspaper classifieds, put up flyers? What do you recommend?

All of the above. A lot of people kind of think that the old school stuff, flyers, putting up brightly colored 3×5 cards or whatever, or big flyers with pull-off numbers, which, by the way, I include as bonuses, they’re all editable. It may work really well in your area. For example, I lived in an area once that had this little health food store, but they had a community bulletin board outside. Everybody walked by that and looked at it. I discovered after a little while that it was a great place to put a flyer.

Again, in some areas, it’s not going to work. Craigslist is great. I would say find whatever online source is really good in your area. In the United States, that tends to be Craigslist. There’s Auto Trader . You’ll have to pay money for that.

Do you just list the car once or do you do it once a week? If it doesn’t sell, what’s your listing scheme that seems to work best with Craigslist?

I suggest you write one ad, and I talk about exactly how to write your ad and how to construct the title and all this stuff. It’s important stuff too. It’s easy, but it’s important. By the way, Craigslist now offers, I think, eight photographs. They’ve bumped it up from four to eight, which is really cool. Put as many photographs as you can and place the ad, and then do another ad. It’s going to have to be different text and a different title, and then place that ad like two days after.

So, now you could have two ads running consecutively. Craigslist has a relatively new thing now. They’ve had the repost thing for quite a while. They have something newer now called Renew, and I think it’s only two days now. So, the thing is, if you have two ads running for same vehicle, as long as they’re not identical – if you go in every, whatever it is, I think it’s 48 hours, and hit the Renew button. It only takes a second so you can always have one of your ads up relatively close to the top.

There’s a thing too, in some countries, Kijiji is still big. eBay bought Kijiji. Now they call it eBay Local Classifieds. In some countries, it’s still called Kijiji. It’s worthwhile to maybe check backpage.com. I can tell you in San Diego, Backpage is junk now. It’s just spam. They’re not moderating it at all. It was a pretty big competitor to Craigslist, but maybe it’s still working in your area.

It might be good to check these lesser publications, by the way, to buy cars. I wouldn’t waste my time posting an ad in a publication that gets very little traffic when you have other alternatives to get a lot more, like Craigslist. But for buying, because there are still people out there that they just don’t know any better. Now, they may place an ad on Kijiji or eBay Local Classifieds just because they don’t know any better. Meanwhile, nobody is calling them. Yet that same car on Craigslist might get sold the first day. It’s worthwhile to check these lesser publications to buy.

So it might not be selling just for lack of exposure?

Yeah, exactly. Sure.

Have you ever sold a used car on eBay? Is that something you’ve tried or can recommend?

I have, and I recommend it. The advantage to eBay is you get massive exposure, if you’ve got some kind of collectible or potential collectible car then definitely, eBay, and do it worldwide. Millions and millions of people a day go for eBay. You can also narrow it down just in your own town. You can do your state or entire country.

By the way, let me interject something here. This buying and selling cars for profit thing will work in pretty much any country on Earth. Wherever you’re allowed to buy and sell things, you can do this. I would say that if you are ever thinking about buying or selling on eBay for that matter, open a free account now and start selling stuff around your house, even it it’s a hassle.

You want to get your feedback, and it better be positive feedback because that’s the beauty of eBay. It works on this feedback system. You rip somebody off, you get negative feedback. You want to have nice, 100% feedback for your eBay account. It’s just a good idea to start doing that now because, first of all, eBay is awesome to use.

I’m clearing out a storage room right now that I have, and I’m using eBay for some stuff that I know won’t sell on Craigslist locally. But you can also use it, of course, for selling cars. One of things about eBay that is important is to get your account going and start building up as much positive feedback as you can.

We’ve talked about where to sell the cars, but what tips do you have to get the cars sold quickly?

Having two ads running consecutively for the same vehicle and being good about going in every other day and hitting the Renew button. If there is a place where you live relatively close where you can park your car with for sale signs plastered all over it. That can be a really good way to sell a car fast.

Obviously, don’t do it in an area where it’ll get towed away. But if you’ve got an area like that that can be great. Some people don’t even advertise their cars. They just park them with for sale signs.

Has anyone responded to any of your ads and tried to scam you or anything like that?

Oh, yeah, the online stuff. It’s actually in one of the free reports. I think it’s called “ Anatomy of a Used Car Scam “, and I go through exactly how with screen captures and everything of the typical used car scam. It’s entertaining and it’s informative because if you haven’t experienced it yet, it can really take you by surprise. You may think it’s real, so it’s good to read this.

Once you read the report and you figure out what to look for, it’s a total no brainer, and you’ll just delete them. Let’s say, you’ve got a car on Craigslist, for example, and it’s $4,000. So, what they do is, they’ll tell you, “Well, we want to buy your car.” Then what they do is they’ll send you a check, and they always send a cashier’s check substantially more than what the vehicle is worth.

Then they’ll contact you and say, “Oh, gee, my bookkeeper made a mistake. Could you please send us that overage? Wire it to us. We’ll pay the wire charges or whatever.” So, poor people that don’t know any better will do it. Meanwhile, they’ve deposited the check, and because it is always somewhere offshore, Nigeria is one of the biggies, it may take two to three weeks, even in this day of instant communications and all, for your bank to finally come back and say, “Oh, this is phony.” Meanwhile, you’ve sent $2,000 because they sent you a check for $6,000 for your $4,000 car. In a nutshell, that’s the scam.

What about motor homes and campers and boats, and those sort of recreational vehicles? Are there other types of vehicles that are easy to profit on?

Absolutely. I had a guy email me. He wanted to specialize in Porsches, for example and because he loves Porsches. Then absolutely, you should focus on that. That’s your passion. He was going to be retiring soon. If your passion, like me, is sailboats and you know the market, I would say that anything you know the market well. I had one guy that was going to specialize in wheelchair vans.

But yes, snow mobiles, boats, motorcycles, because there’s a market for all of that stuff. The reason I pretty much stuck with the cars is just because that’s the way I started, and I figured it is the broader market. That’s all. But if you have specialized knowledge in certain types of vehicles, then by all means.

See, that’s the beauty. When you have specialized knowledge of a certain market, you already know. When you spot down ads either, “Ooh, that looks like a really, really good deal.” You’ve already got one of the biggest aspects of the market wired, which is huge. So, yeah, if you have specialized knowledge of certain other kinds of vehicles, then I would definitely look into it as a way to make a profit for sure.

You’ve written the definitive guide on the subject of buying and selling cars for profit, but are there any other resources, forums, blogs, that sort of thing that can be useful for someone just starting out?

Not that I’m aware of, but I do offer a six month free email consultation for anybody that purchases “ The Lazy Way To Buy and Sell Cars for Profit “, and I’m real good about getting back to people. That gives you plenty of time to really get into this. Also, I am going to be starting a membership club soon. It will be very inexpensive, and it’ll be a way to communicate with others, share ideas, war stories, stuff like that. You’re covered either way.

What are the biggest mistakes that you see people making when starting out buying and selling cars?

One of the biggest is paying too much because you don’t know how to negotiate, when to start negotiating, how to overcome the fear of offering a ridiculously low offer. The worse the thing somebody can say is “no.” That’s a big hurdle for a lot of people.

I would say spending too much time and money preparing the cars for sale just because you don’t know what you should do and what you shouldn’t do. Depending on the price range, there are certain things you have to do to a car. Then there are other things that are a complete and total waste of time and money that you don’t need to do.

Some beginners think auctions are the Holy Grail and I’m here to tell you they’re not. Beginners should not attend auctions. That probably even includes eBay auctions, too. You should be very careful about auctions as a beginner. I’m not saying don’t get into auctions down the road when you’ve gained some experience, gotten a good number of good successful deals under your belt. You’ve really learned how to inspect cars and you get that gut feeling you were talking earlier, Matt, that intuitive feeling.

But auctions can chew you up and spit you out if you don’t what you are doing. You’ve got to be very careful, and it’s a very intense environment. It’s not the auction houses like Manheim , for instance. They don’t do this. But some of the sellers have people in the audience, bird dogs or whatever you want to call them, that know how to focus on people that they think are beginners.

They will kind of get up next to you, and they’ll, “That looks like a really good deal and I know the guy that’s selling that. He’s a good guy and always sells good cars.” They do this to screw you. I had one guy a few years ago, he hadn’t read my stuff, and got into auctions because he thought that was the only way to do this. He ended up buying ten Suburbans when gas prices had spiked. I don’t know. It was like 2008 or something.

He couldn’t pay for them. He couldn’t sell them. They were stuck in the Manheim lot. He was paying a bunch of money to store them. I don’t even know what happened. I contacted the guy later to see what was the final outcome. But it was very sad. The point is, that he had a guy there who was encouraging him to buy these, and he didn’t know any better. He just didn’t know.

So, those are some of the mistakes. Fortunately, you don’t need to make any of those mistakes. The thing about this is there’s no need to reinvent the wheel. You can learn from my mistakes.

Stephen Hobbs is the author of The Lazy Way to Buy and Sell Cars for Profit: Your Complete Step-by-Step Guide to Buying and Selling Used Cars for Profit Full-Time or Part-Time .

This show may not be reproduced without written permission. The views or opinions expressed are those of the individual speaking and do not necessarily represent those of the host or StartingABiz.com. This show and our website are provided for educational and informational purposes only and are not a substitute for legal or other professional advice. Earnings claims may not be typical and are not a guarantee of future results. We sometimes use affiliate links and may receive a commission if you click or purchase a product or service. Although we never charge or accept payment for our interviews, we may accept review copies, samples, or related materials from authors which may be considered compensation.

Cars for sale

Sell my car, car research, sign in, buying a car for business purposes: the top considerations, your acquisition must make the most sense for your financial situation as it can transform your business. here are top considerations to weigh..

Article QuickTakes:

Finding a vehicle that's a good fit
Methods to acquire the vehicle
Determine the business's bottom line

Buying a car for business purposes could potentially transform how your business runs. A vehicle that fits your company's needs has the ability to unlock new business opportunities or streamline your organization to run more efficiently. Accordingly, it's important to approach the purchase process pragmatically.

While conducting the search, your company should evaluate several factors before making a decision. These factors include finding the vehicle that meets your business's needs, figuring out the best way to acquire the vehicle, and investigating how it will impact your company's bottom line.

Finding a Vehicle That's a Good Fit

Identifying the types of vehicles that may help your business, and their associated costs, can help to jumpstart the process. For instance, a company looking to transport an individual between appointments may want to find a small, fuel-efficient car with high reliability. Alternatively, a specialty bakery may need a large cargo van to transport finished products to their final destinations.

Start by figuring out what class of vehicle would work for your situation. Then, start looking into options and features these vehicles can commonly have added. For instance, you may want to have advanced driver assistance features — such as lane departure warning systems — as an option on any vehicle you purchase or lease to help reduce the likelihood of accidents in the company car.

If you're buying a car for business for a specific use, like advertising, you may want to consider how you could add branding to the vehicle to make sure it visually represents your business in the best possible light. This could include verifying you have enough room to present your logo in a readable and unobstructed manner while considering the placement of windows, door handles, and body lines on the automobile.

All of these considerations can affect the overall cost of the car and impact your company's bottom line, so try to focus on their prices during your search. Your budget may help narrow down the list of options you'll choose from.

Methods to Acquire the Vehicle

Once you have an idea of the type of vehicle you're looking for, it's time to go shopping. You'll need to evaluate all options to find a solution that's appropriate for your business.

Buying a New Vehicle

Purchasing a new vehicle for your business may make sense depending on your plans.

Warranty: New vehicles often come with warranties , which can reduce costs in the first few years of ownership.
Reliability: A new vehicle has little to no miles on the odometer. Worn out and broken parts are uncommon.
Appearance: A new car likely doesn't have any dents, scratches, or other cosmetic imperfections.
Customization: You can pick the options your company needs, including the latest technology options.
Ownership: You own the vehicle and can do what you see fit to customize it.
Cost: Buying a new vehicle could cost you more money.
Ad valorem property taxes: If you pay taxes based on the value of the vehicle, these will be higher with a new car.
Loss of value: New vehicles tend to lose a large portion of their value in the first few years of ownership.

Buying a Used Vehicle

Used vehicles provide a different set of potential advantages and drawbacks to consider.

Lower initial cost: Used cars typically have lower costs based on age, mileage, and other factors.
Avoid upfront depreciation: Buying a used vehicle may mean you won't experience the most significant depreciation in the first few years of ownership.
Insurance costs: Insuring a less expensive car may cost less than insuring a more expensive new car.
Shorter manufacturer's warranty: New car warranties may transfer to a second owner if the terms haven't expired, but you'll have less time remaining in the warranty period than if you bought the vehicle new. If the warranty expired, you might not have a warranty at all.
Potential reliability issues: Older cars with more miles have more wear and tear. This could cause reliability issues and require more frequent repairs.
Could have different income tax impacts: Used vehicles may not qualify for the same income tax benefits as new vehicles. Consult an income tax professional for information about your specific situation.
Loans may cost more: Lenders usually charge higher interest rates on used auto loans than they do for new auto loans.

Leasing a Vehicle

If you don't need to own a car, leasing a vehicle could work for your business.

Often a lower monthly payment: Leases may allow for a smaller monthly payment compared with purchasing a vehicle.
New car benefits: Your leased car comes with a new warranty and no wear and tear.
Can upgrade your car at the end of the lease: Since you don't own the car, you can lease a newer car and upgrade to a newer and more reliable vehicle when your contract expires.
You don't own the automobile: At the end of the lease, you must return the vehicle. The business does not own the car unless they purchase it at the end of the lease.
You may have to pay mileage overage charges: If you put more miles on the car than the lease allows, you'll likely have to pay per-mile overage charges.
May not modify the vehicle: Your lease likely prohibits you from modifying the vehicle substantially.

Determining the Impact to Your Business's Bottom Line

After narrowing down your vehicle choices and preferred methods for acquiring the car, you must consider how buying a car for business purposes impacts your company's bottom line— beyond the upfront cost to get it. Ideally, purchasing the vehicle shouldn't put a financial strain on your business. To determine this, you'll need to look at the total cost of owning the automobile and review your budget .

Costs you may want to look into may include:

Registration fees: Registration fees for business vehicles may differ from personal vehicles. Check with your local authorities for more information.
Taxes: Some states or localities charge ad valorem personal property taxes, which can add up quickly on newer vehicles worth more money.
Fuel costs: Look at the price of fuel, how much you will drive the vehicle, and its fuel economy to help calculate an estimated fuel cost.
Insurance costs: Insuring a business vehicle can add a significant cost depending on your use. Contact your business insurance agent to get a quote.
Tax impact: Tax impacts of owning or leasing a vehicle can vary depending on your business's situation. Contact a tax professional for information about how a vehicle could impact your business's income and other taxes.

The Bottom Line

Purchasing a vehicle for your business can help to take it to the next level, but it's important to buy the car in a way that makes the most sense for your organization and its financial situation. Once you've explored the three major considerations above, you can start shopping for the perfect vehicle for your business.

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9 tips on starting your own car buy-and-sell business

Updated Jan 11, 2023 | Same topic: Best Advice for Car Buyers

The used-car market is thriving nowadays, as the prices of brand-new cars continue to inch up. This means that your business venture would likely succeed -- if you have the smarts and right business tools. Obviously, there are a lot of things you must know. Consider these following Philkotse.com - website buying and selling cars prepared for you.

1. Have a working knowledge of the business

This is a no-brainer tip, but it is also an important one. No matter what business you want to be in, you must have both passion and knowledge of the venture you are going to start.

You must have both passion and knowledge of the venture you are going to start

2. Check the law

Every country has different regulations in buying and selling of car for sale In Philippines . This will tell you how many vehicles you can buy and sell, and who can buy and sell. Apply for a dealership license if you are planning to buy more than the limit.

A dealer's license allows you to operate legally, but this also comes with the added responsibility to your business. You need to make sure that the vehicles have a clean title. Familiarize yourself with the law about your business.

Apply for a dealership license if you are planning to buy more than the limit

>>> You might want to know: 5 essential sales skills to become a successful car seller .

3. Get the car brands for your target market

An essential in business is defining your target market -- the group of people that you hope will buy your product. A well-defined target market will help you choose the right product to offer.

If your target market is composed of average car users, consider the brands that they trust and are reliable. Do some market research. There are ways to know what brand your target market trusts and what type of car they would likely buy. You can get this information by conducting a survey or poll.

If your target market is composed of average car users, consider the brands that they trust and are reliable

4. Study the pricing

Price is an important factor in the business more so in the buy-and-sell field. There are two prices that you need to be concerned about: The price of the car you will buy and the price you will sell it at. You need to make sure that the price Is right in both instances.

Checking the price of your closest competitors will also help you formulate your own pricing. In buying a car you need to have good bargaining skills. But of course, it should be reasonably priced and competitive. Set a bottom price for each car. This will be the lowest price that a car can get. This is for customers who will bargain with you later on.

Price is an important factor in the business

>>> Tips for you: 8 essential tips for starting auto repair business in the Philippines .

5. Have a reliable mechanic at the ready

Having a reliable mechanic can help your business in many ways. They could do all major repairs and inspections of cars that you buy and sell. They can tell you if a particular vehicle is a good or a bad buy. A trusted mechanic could also give you an opinion on what should be repaired and what should be replaced.

It also helps if you know quite a bit about cars, so you could confirm your mechanic's opinions.

Having a reliable mechanic can help your business in many ways

>>> Check out: For car sellers: How to detail a car before getting it sold .

6. Prepare a checklist/ business plan

When starting a business, it is a good idea to have a business plan. This will be a guide in your business and can also profile your venture when you are looking for investors.

Doing a checklist must include the day-to-day of what you need to do. Have a checklist of to-dos when purchasing a car (including a list of documents for you to check, receive, and issue). Having a written plan will help you big time in managing your business -- and gives a clear plan of attack.

7. Space, space, space

Plan the location or space for your business. Make sure that you have enough space to park cars. It is also important that it is near to your target market and other potential customers.

8. Consider an advertising budget

Your advertising must attract customers, spread the word, and generate sales. With social media today, not only do we save money for advertising, but we also create a network. You can use social media to promote the business.

Your advertising must attract customers, spread the word, and generate sales

Besides social media, there are also other ways to advertise via low to no-cost ways. Printed advertisements are flyers, posters, and tarpaulins. Post and give away flyers in areas where your target market could be. You could also put your business in classified ads in the newspaper. If you have a bigger budget, you can do television, radio or newspaper ads.

>>> Also check: 5 things car salesmen hate about car buyers .

9. Use the Internet

The Internet can be useful in business if it is used right. You can create social media accounts, pages or websites, so your target customers can reach you. You can also showcase your inventory in your accounts. This will also attract potential customers and even help you close a deal. You can also post classifieds for free on sites.

Make use of the advantage of technology and the Internet. This can help you big time in business. Take good pictures and be creative with your post and caption. Make this part of your marketing strategy.

Make use of the advantage of technology and the Internet

Starting a new business is overwhelming and understandably scary because of the risk. But remember that an entrepreneur always takes a calculated risk. If you believe in what you are doing and this is your passion, stop hesitating. If you ever decide to start your buy-and-sell car business, we hope this article has helped you get a better understanding of what to face.

Hanna Sanchez

Hanna is one of the most competitive swimmers in the country during her day. It was not long before she discovered her passion for the automotive industry as well. Nowadays, she balances her passion through writing as well as coaching.

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How to Sell a Car With a Loan: A Step-by-Step Guide

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You can sell your car if you have an outstanding balance on an auto loan , but you'll need to pay off the loan before the sale is completed. Here are the steps to take if you're planning to sell.

Key Takeaways

You can sell your car if you still have an outstanding loan balance on it, but you may not get enough money to pay back the loan in full. That depends on whether you have positive or negative equity in the car.
Talk to your lender about your plans to sell your car and request the necessary documents.
Research the market value of your car and set a competitive, realistic price.
Advertise the car, be transparent about the loan, and expect to negotiate with potential buyers.

Assess Your Loan Situation

Depending on how long you've owned your car, the terms of your auto loan, and other factors, you may owe more or less money on the loan than you're likely to get by selling. When your car's market value is greater than the balance of your loan, you have positive equity. If its market value is less than your loan balance, you have negative equity .

If you have positive equity in the car, you'll get to keep whatever is left over after paying off your loan. If you have negative equity in the car, you will have to make up the difference out of other funds.

Be aware that some lenders may charge prepayment penalties if you pay off your loan ahead of schedule. To avoid any unpleasant surprises, ask your lender or check your loan agreement to see if you will be responsible for any extra fees when you pay off your loan.

In some cases, you may owe more on the car than it is worth. It is common for cars to lose approximately 60% of their purchase price within five years.

Communicate With Your Lender

You will need to tell your lender about your intentions to sell the car. Your lender will provide you with a payoff statement , showing how much money is required to pay the loan in full. Note that this statement will have a "good-through" date. After that date, the payoff amount will change due to accruing interest.

Your lender is likely holding your car's title . You will need to pay off your loan before the lender will transfer the title to the new buyer. It can take two to six weeks to receive an updated car title from the state after a loan is paid in full.

If you find a buyer who is willing to take over your loan in their name, your lender may agree to transfer the loan . Keep in mind that the buyer will need to qualify for the loan based on their own credit.

Prepare the Car for Sale

Once you have talked to your lender, you can begin the process of preparing your car for sale.

Clean the Car

Cleaning your car inside and out helps improve its sale appeal. If you don't have all of the necessary supplies at home, you can schedule a professional cleaning or detailing.

Gather the Necessary Documents

It is important to have all of the necessary documents ready to ensure the sales process goes smoothly. Those documents can include:

State emissions inspection certificate
Maintenance records
Warranty documents

The vehicle title is also a vital part of completing the sale, but, as mentioned, you will most likely need to pay off your loan before your lender releases the title to you.

Schedule a Pre-Purchase Inspection

A pre-purchase inspection conducted by a trustworthy mechanic can be a useful way to build prospective buyers' confidence in condition of the car. Some buyers may want to arrange for their own inspection.

Determine the Selling Price

You will need to set a sale price for your vehicle. Factors that impact your car's value include:

Accident history
Your location

There are a variety of online resources you can use to help determine your car's market value, including:

Kelley Blue Book
The National Automobile Dealers Association (NADA)

Advertise the Car

After you have determined a competitive price that aligns with the car's market value, you can begin advertising the sale. You can advertise via:

Online platforms, such as Autotrader or Cars.com
Social media platforms, such as Facebook Marketplace
Local newspapers
Word of mouth

However you decide to advertise, it is important to create an attractive listing that offers plenty of information about the vehicle and, where possible, high-quality photos. Being transparent about the existence of the loan in the listing will ensure that potential buyers aren't surprised by the situation or put off by it.

Negotiate With Potential Buyers

Some negotiation is usually part of the car sale process. You can screen potential buyers on the phone before moving forward. If a buyer wants to see the vehicle, it's best to arrange to meet at a public place, such as a nearby mall or police station. If they want to take it for a test drive, consider bringing a companion and accompanying the potential driver.

Be prepared for counteroffers. Consider how much you are willing to come down on your price, if at all. If a buyer is not willing to meet your price expectations, you can move on to someone else.

Pay Off the Loan and Complete the Sale

As a final step, you'll need to pay off the loan, so ask your lender how it prefers that be handled. If you complete the sale of the car at the lender's office, as is often the case, you can remove the lien from the title and transfer ownership of the vehicle right there. The lender may need to sign an affidavit that shows it is aware of the ownership transfer.

Either you or the buyer can make the payment to close the loan. If the purchase price doesn't cover your outstanding loan balance, the buyer can pay the lender whatever they have agreed to pay for the car and you can make up the rest. Otherwise the buyer can pay you, and you can pay the lender and pocket any difference.

In addition, you will most likely need to provide the buyer with a bill of sale , which serves as legal proof that the vehicle belongs to the new owner. Not all states require a bill of sale, but it serves as an important record of the transaction. Keep your own records of the sale to prevent any misunderstandings with the buyer, and be sure to follow up with your lender to confirm that your loan is paid in full.

Can I Trade in a Car I Owe Money On?

You can trade in a car that you still owe money on, but you will need to determine your equity position. If you have negative equity, the amount you owe could roll over into your new car loan.

If you have positive equity , you can use that money to help pay for the new car.

Does Selling a Financed Car Hurt Your Credit?

Paying off your car loan could have a small negative impact on your credit score. That's because credit scores favor people with a good "credit mix" (such as credit cards, mortgages, and auto loans). However, your credit mix only accounts for 10% of your score, so it isn't a major factor.

Can You Transfer the Title of a Financed Car?

If you have a loan on your car, you will most likely need to pay it off in full before transferring the title to a new owner. The lender may also need to sign an affidavit attesting that it is aware of the change in ownership.

Can You Transfer a Car Loan to Another Person?

It is possible to transfer a car loan to another person in some situations. If the lender allows for such transfers, the new loan holder will still need to qualify for the car loan based on their own credit.

Are There Tax Consequences for Selling a Car With a Loan?

If you sell the vehicle for more than you paid for it (a fairly rare occurrence, since most cars depreciate in value), you should report that profit as a capital gain on your taxes.

The Bottom Line

You can sell a car with a loan, but it involves a few extra steps. You will need to work with your lender and find a buyer who is willing to go through those extra steps with you. If you want to keep the car but can't afford the loan payments, talk to your lender about the possibility of refinancing .

Federal Trade Commission. " Auto Trade-Ins and Negative Equity: When You Owe More than Your Car Is Worth ."

Consumer Financial Protection Bureau. “ Can I Prepay My Loan at Any Time without Penalty? ”

Progressive. “ What is Car Depreciation? ”

Progressive. “ How Long Does It Take to Get the Title after Paying Off a Car? ”

Chase. “ How to Transfer a Car Loan to Another Person .”

Chase. “ What Paperwork Is Needed to Sell a Car? ”

Progressive. “ What Is Car Resale Value? ”

State Farm. " How to Safely Sell a Car in a Few Simple Steps ."

Progressive. “ What Is a Bill of Sale for a Car? ”

myFICO. " What Does Credit Mix Mean? "

Equifax. " Why Your Credit Scores May Drop After Paying Off Debt. "

Internal Revenue Service. “ Topic No. 409, Capital Gains and Losses. ”

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What Is a Bill of Sale for a Car

Learn about what a bill of sale for a car is, how to get or write one and the requirements by state in this comprehensive guide.

Daniel is a MarketWatch Guides team writer and has written for numerous automotive news sites and marketing firms across the U.S., U.K., and Australia, specializing in auto finance and car care topics. Daniel is a MarketWatch Guides team authority on auto insurance, loans, warranty options, auto services and more.

RaShawn Mitchner is a MarketWatch Guides team senior editor covering personal finance topics and insurance. She’s spent over a decade writing and editing articles about how to save money on things including travel, entertainment and household services.

If you’re selling your car, you may be required to document the mileage and purchase through a bill of sale. While requirements vary from state to state, you might have to include specific things in the bill like the title number. In this article, we at the MarketWatch Guides team will explain how to get a bill of sale for your state. We also have recommendations for the best websites to sell your car online .

Key Takeaways:

The bill of sale’s purpose is to record the sale of a vehicle between two private parties.
You can get a generic bill of sale template online and many resources will customize templates to your state.
Some states require all auto sales above a certain value to use a bill of sale and may have specific requirements for information to include.

Why You Can Trust the MarketWatch Guides Team

What Is a Bill of Sale?

A bill of sale for a car is a legal document that records the amount of money exchanged between a private buyer and seller for a vehicle. It’s basically a receipt that both parties sign, and has information about the vehicle and each party. The seller has the responsibility to create a bill of sale if it’s required by the state.

The vehicle title is the main document that demonstrates vehicle ownership. When you sell your car , you’ll fill out the title reassignment section on the back and sign it. The buyer then takes this to the department of motor vehicles (DMV) to get a new certificate of title in their name.

Depending on the state, a bill of sale can also be sufficient for a transfer of ownership. This may be the case if the car doesn’t have a title. What’s more common is to reassign the vehicle title and then use the bill of sale as a supporting document for proof of ownership.

States may allow a bill of sale to transfer ownership of the vehicle in specific scenarios. For example, a bill of sale can transfer ownership of antique vehicles 35 years old or older in the state of Kansas . To sell a newer vehicle, the current owner needs to assign the title to the buyer. A bill of sale is recommended but optional in this case.

Whether your state requires a bill of sale for a car or not, we recommend printing one out and using it for your sale.

How To Get a Bill of Sale

You can get a bill of sale for a car by making your own document, using a template from your state’s DMV or using a free template from other services online. As long as the document has the required information and signatures of both parties, it works.

We recommend searching your state’s DMV page for information on selling a car. If a bill of sale is required, the state will usually provide a template. States that don’t require a bill of sale may also supply a template, as well.

Bill of Sale Example Template

Above, you can see an example of a generic car bill of sale. You can also download a pdf version here .

Be aware that this is just a generic template that includes common information and language. Individual states can have different requirements for making a bill of sale for a car.

Car Bill of Sale Templates by State

Below are resources for making a bill of sale for a car in each state. We’ve included links to DMV pages where available. For states that don’t provide motor vehicle bill of sale templates, we’ve included links to free resources that can customize a bill of sale for your state.

How To Write a Bill of Sale for a Car

A handwritten bill of sale for a car works just the same as a printed template. Be aware that a handful of states require notarization. Check with your state to see if you need to use a notary public. If you need to use one, bring your driver’s license to the notary so they can verify your identity.

It’s best to include as much information as could be required by your state if you’re unsure of the guideline. Write up your document with the following information:

Seller name and contact information
Buyer name and contact information
Vehicle information including year, make, model, vehicle identification number (VIN), mileage, color, plate number and title number
Purchase price and method of payment
Statement affirming the vehicle is sold as-is and the mileage is correct
Statement describing any warranties or liens against the vehicle or that there are no warranties/liens
Signature and date of the sale from the seller and buyer

Just before the signature section, you can include a line such as, “I declare under penalty of perjury that this information is true and correct.”

You and the buyer will sign the bill of sale for the car when you meet for the transaction, and you should both keep a copy for your records. You can make a copy after signing it or write up two copies of the same page to sign.

Vehicle registration fees can vary by the type of vehicle, so having a bill of sale can help the new owner pay the right fee.

Other Forms

Your state may also require an odometer disclosure statement. The title may have a space to record the odometer reading at the time of sale or the state may require a separate form.

Some states require a separate damage disclosure statement depending on the situation. For example, Iowa requires sellers to file a damage disclosure if the cost to repair exceeds 50% of the vehicle’s undamaged value.

Requirements for a Bill of Sale by State

As we mentioned earlier, different states can have different regulations for creating a bill of sale. For example, some states require the title number and plate number of the vehicle. Other states don’t require a title or plate number. Many states don’t require a bill of sale at all. Be aware that states that don’t require a bill of sale for a car will require one if the vehicle doesn’t have a title.

Bill of Sale for Car: The Bottom Line

A bill of sale is a legal document that records the sale price of a vehicle and can transfer ownership in some cases. Whether or not your state requires a bill of sale for a car, it’s a good idea to use one. You can create your own, use our PDF on this page or download a bill of sale online. Always check your state’s title transfer regulations to see what it requires.

Our Top Picks for Car Selling Websites

If you’re looking for a company to sell your car to, our team recommends Cars.com or Carvana for their easy-to-use online platforms and great reputations.

Cars.com: Editor’s Choice

Cars.com is our top recommendation for car owners looking to sell. On top of having a stellar reputation, this company has been operating since 1998 and has one of the strongest reputations in the automotive market.

Cars.com provides drivers with several different sales platforms to choose from. For a quick sales process, you can sell your car to one of the 20,000 dealerships in the company’s network. To maximize your profits, you can find a private buyer through the Cars.com’s private marketplace section.

Carvana: Most Seamless Process

Carvana is best known for its car vending machines, but it’s also known for its quick, simple and completely online process. Drivers can sell and have their cars picked up all from the comfort of their homes, and they can even get their new cars delivered if they’re buying or trading in.

Offers from Carvana last for seven days. Once your car is inspected and approved, you get paid with either a cashier’s check or direct deposit. Carvana receives strong customer reviews on sites like Trustpilot and Google.

Bill of Sale for Car: FAQ

Below are a few frequently asked questions about making a bill of sale for a car.

Is a handwritten bill of sale OK?

Yes, a handwritten bill of sale is a legal document that records the sale of a vehicle once both parties sign it. However, some states have specific requirements for what a bill of sale should include, so check with your state DMV.

Is a bill of sale required to sell a car?

Several states require a bill of sale to sell a car, and some of those have specific requirements about what the bill of sale should include. Contact your state’s DMV to see if it requires a bill of sale to sell a car.

How do you write a bill of sale?

To write a bill of sale include the following:

The names and addresses of the seller and buyer
Vehicle information including the year, make, model, mileage, color and VIN
Statement describing any warranties or liens against the vehicle or lack thereof
Signatures and dates from the seller and buyer

Can I get a title with just a bill of sale?

You may be able to get a title with just a bill of sale in some states. If your state allows it, you’ll also need to get a surety bond and then apply for a bonded title. You might also need to have the car inspected and appraised.

Can you sell a car with a loan?

If you want to sell a car with a loan , the loan needs to be paid off before you can transfer ownership. You can pay it off yourself ahead of time or use the proceeds from the sale to pay it off. Contact your lender if you want to use money from the sale to pay the loan.

Our Methodology

Because consumers rely on us to provide objective and accurate information, we created a comprehensive rating system to formulate our rankings of the best platforms to sell your car. We collected data on several providers to grade each company in five key areas. The end result was an overall rating for each provider, with the car selling platforms that scored the most points topping the list.

Here are the factors our ratings take into account:

Industry standing (10% of total score): Our research team considers ratings from industry experts and years in business when determining this score.
Platform (15% of total score): Platforms that offer a variety of features, including instant offers and multiple sales options, are more likely to meet consumers’ needs.
Cost (30% of total score): To compare providers’ average offer prices, our team conducted a secret shopper analysis for a variety of vehicle types. We also considered the fees companies charge to use their platforms.
Support (30% of total score): Car selling companies that offer strong transaction support received the highest scores in this category. This includes offerings like free pickup service as well as how quickly you receive your payment.
Customer experience (15% of total score): This score is based on customer satisfaction ratings on the Better Business Bureau (BBB) and Trustpilot as well as our team’s experience reaching out to each platform.

*Data accurate at time of publication.

If you have questions about this page, please reach out to our editors at [email protected] .

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The International Monetary Fund has said the UK economy is heading for a "soft landing", but reiterated its message to Jeremy Hunt that he should not have cut National Insurance at the last two fiscal events.

In its annual check-up on the state of Britain's economy, the Washington-based Fund raised its forecast for gross domestic product growth this year from 0.5% to 0.7%, saying: "The UK economy is approaching a soft landing, with a recovery in growth expected in 2024, strengthening in 2025."

The Fund now expects inflation to come down to close to 2% in the coming months, and the Bank of England to cut interest rates by as much as three quarters of a percent this year, and then another percentage point next year.

The chancellor welcomed the Fund's Article IV report, saying: "Today's report clearly shows that independent international economists agree that the UK economy has turned a corner and is on course for a soft landing.

"The IMF have upgraded our growth for this year and forecast we will grow faster than any other large European country over the next six years - so it is time to shake off some of the unjustified pessimism about our prospects."

Government 'won't meet its debt target'

However, the IMF, which has warned the government explicitly in the past not to cut taxes too fast, in the face of rising spending projections in future, said the two 2p National Insurance contribution cuts at the last two fiscal events were a mistake.

"In light of the medium-term fiscal challenge", the report said, "staff would have recommended against the NIC rate cuts, given their significant cost."

The Fund's staff also believes the government is not on track to meet its main fiscal rule, which commits it to cutting the national debt in five years' time.

It believes net debt will carry on rising towards 97% of GDP in the following years, instead of falling back to 93% of GDP, as the Office for Budget Responsibility has forecast.

The Fund's double-edged report comes amid improving news for the UK.

Data released two weeks ago showed the country ended its short-lived recession with faster than expected growth in the first quarter of the year.

The Office for National Statistics is expected to announce tomorrow that inflation dropped close to the Bank of England's 2% target in April. That may enable the Bank to begin cutting interest rates from their 5.25% level in June or August.

Bank should speak more

The Fund's report contained a number of other recommendations for economic policy in the UK, including that the Bank of England should commit to more news conferences to explain its decisions, and that the government should consider imposing road charges to replace the revenue lost from fuel duty as electric cars become more predominant on UK roads.

For many Britons, retirement means moving somewhere new.

New analysis from relocation experts Property Guides has found the easiest locations for retirees, taking into account culture, visa requirements, cost and more.

Landing in the number one spot is Ireland, with a lack of visa requirements, English-speaking residents and relatively "safe and happy" environment.

Spain, Portugal and Cyprus claim the next three spots on the list.

However, Spain is high on the minimum annual income requirement.

"Spain's is one of the most expensive. It is currently around €27,000 (£23,000) per year for the first applicant. Just over the border in Portugal, it is less than €8,500 per year. Turkey's is the cheapest, working out at a little over £5,000, while Italy requires over €30,000," Property Guides says.

Turkey also came out well for the low cost of living - unlike New Zealand.

European countries in general offer visas aimed specifically at those receiving pensions or investment incomes, according to Property Guides.

Commonwealth countries such as Australia and Canada, however, actively restrict those over 55 from moving there, even if they have a high passive income (income such as pensions, that doesn't require a job).

It becomes easier if retirees have children who are already legal residents.

"Golden visas", which encourage wealthy people to invest in a country, are becoming less common.

"Most countries are now cancelling their residential investment option, including Cyprus and Portugal, and Spain will soon be closing its own. However, for now, you can still get one in Spain, Greece and Turkey, for as little as a €250,000 property, and these we have judged the easiest to retire to."

Property Guides also looked at health services. They took rankings from a Legatum Prosperity Index.

"Top scorers were Germany, Italy and France, in that order. Bottom of the pile was the USA."

The research noted that state pensions are not uprated for retirees in Canada, New Zealand and Australia.

It also factored in "sunshine hours", with the top three being Cyprus, Portugal and the US. Ireland came last here.

By Sarah Taaffe-Maguire , business reporter

Good news for motorists: oil prices are at a more than two-month low at $83.08 for a barrel of Brent crude oil.

Lower prices will likely filter down to the pumps in about 10 days.

But it's not such good news for those in the Brixham area.

The parent company of South West Water - who supplies the Devon area - said 15% don't have normal service.

Shares in Pennon Group, which also owns Bournemouth Water and Bristol Water, fell 6.7% after it reported flat pre-tax profit - £16.8m was recorded for the 2023-24 financial year, the same as 2022-23.

That's despite shareholders being in line for a higher payout of 44.37p a share.

Drug maker AstraZeneca is one of the best-performing stocks on the FTSE 100 index of most valuable London-listed companies today.

After it announced it aims to double revenues by 2030, the share price rose 0.53%.

If you're buying dollars, you can get $1.27 for your pound or €1.17.

By James Sillars , business reporter

Grocery inflation has eased to its lowest level since October 2021, according to industry data released before official figures tipped to show a big dent in the overall pace of price increases in the economy.

Kantar Worldpanel - which tracks supermarket till prices, sales and market share - said its measure of grocery inflation slowed to 2.4% in the four weeks to 12 May from 3.2% the previous month.

The measure showed there is still upward pressure on the cost of items such as chilled fruit juices, drinks, sugar confectionery and chocolate confectionery - the latter a consequence of poor cocoa harvests.

Prices were still falling fastest in toilet tissues, butter and milk, the report said. It has previously pointed to wider assistance in falling costs from a price war among supermarkets.

Fraser McKevitt, Kantar's head of retail and consumer insight, said: "Grocery price inflation is gradually returning to what we would consider more normal levels. It's now sitting only 0.8 percentage points higher than the 10-year average of 1.6% between 2012 and 2021, which is just before prices began to climb.

"However, after nearly two and a half years of rapidly rising prices, it could take a bit longer for shoppers to unwind the habits they have learnt to help them manage the cost of living crisis."

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Pakistan PM Unveils Broader Plan to Sell Most State-Owned Firms

FILE PHOTO: View of a Pakistan International Airlines (PIA) passenger plane, taken through a glass panel, at Islamabad International Airport, Pakistan October 3, 2023. REUTERS/Akhtar Soomro/File Photo

By Asif Shahzad

ISLAMABAD (Reuters) -Pakistan will privatise all state-owned enterprises, with the exception of strategic entities, Prime Minister Shehbaz Sharif said on Tuesday, broadening its initial plans to sell only loss-making state firms to shore up its shaky finances.

The announcement came after Sharif headed a review meeting of the privatisation process of loss-making state enterprises (SOEs), according to a statement from his office, which discussed a roadmap for privatisation from 2024 to 2029.

"All of the state-owned enterprises will be privatised whether they are in profit or in losses," Sharif said, adding that offloading the companies would save taxpayers' money.

The statement didn't clarify which sectors would be deemed strategic and non-strategic.

The announcement came a day after an International Monetary Fund mission opened talks in Islamabad for a new long-term Extended Fund Facility, following Pakistan's completion of a $3 billion standby arrangement last month, which averted a sovereign debt default last summer.

Privatisation of loss-making SOEs has long been on the IMF's list of recommendations for Pakistan, which is struggling with a high fiscal shortfall and a huge external financing gap. Foreign exchange reserves are hardly enough to meet a couple of months of controlled imports.

The IMF says SOEs in Pakistan hold sizable assets in comparison with most Middle East countries, at 44 percent of GDP in 2019, yet their share of employment in the economy is relatively low. It estimates almost half of the SOEs operated at a loss in 2019.

PATCHY SUCCESS SO FAR

Past privatisation drives have been patchy, mainly due to a lack of political will, market watchers say.

Any organisation that is involved in purely commercial work can't be strategic by its very nature, which means there can't be any strategic commercial SOEs, former privatisation minister Fawad Hasan Fawad told Reuters on Tuesday.

"So to me there are really no strategic SOEs," he said.

"The sooner we get rid of them the better. But this isn't the first time we have heard a PM say this and this may not be the last till these words are translated into a strategic action plan and implemented."

Islamabad has for years been pumping billions of dollars into cash-bleeding SOEs to keep them afloat, including one of the largest loss-making enterprises Pakistan International Airline, which is in its final phase of being sold off, with a deadline later this week to seek expressions of interest from potential buyers.

Pakistan has listed 25 entities and assets on its privatisation list, including the PIA. A majority of the entities are in the power sector, including four power plants, two of which are over 1,200MWs, as well as 10 generation and distribution companies.

The list also includes the valuable Roosevelt hotel in New York's Manhattan and two insurance companies.

The pre-qualification process for PIA's selloff will be completed by end-May, the privatisation ministry told Tuesday's meeting, adding discussions were underway to sell the airline-owned Roosevelt Hotel in New York.

It said a government-to-government transaction on First Women Bank Ltd was being discussed with the United Arab Emirates, and added that power distribution companies had also been included in the privatisation plan for 2024-2029.

"The loss-making SOEs should be privatised on a priority basis," Sharif said.

(Reporting by Asif Shahzad; Editing by Tom Hogue, Jacqueline Wong, Kim Coghill and Christina Fincher)

Photos You Should See - May 2024

TOPSHOT - A woman wades through flood waters at an inundated residential area in Garissa, on May 9, 2024. Kenya is grappling with one of its worst floods in recent history, the latest in a string of weather catastrophes, following weeks of extreme rainfall scientists have linked to a changing climate. At least 257 people have been killed and more than 55,000 households have been displaced as murky waters submerge entire villages, destroy roads and inundate dams. (Photo by LUIS TATO / AFP) (Photo by LUIS TATO/AFP via Getty Images)

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May 20, 2024 • 31:51 Was the 401(k) a Mistake?
May 19, 2024 • 33:23 The Sunday Read: ‘Why Did This Guy Put a Song About Me on Spotify?’
May 17, 2024 • 51:10 The Campus Protesters Explain Themselves
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The Sunday Read: ‘Why Did This Guy Put a Song About Me on Spotify?’

The answer involves a remarkable — and lucrative, and ridiculous — scheme to game the way we find music today..

By Brett Martin

Read by Eric Jason Martin

Produced by Adrienne Hurst and Aaron Esposito

Narration produced by Tanya Pérez and Krish Seenivasan

Edited by John Woo

Original music by Aaron Esposito

Engineered by Sophia Lanman and Devin Murphy

Listen and follow The Daily Apple Podcasts | Spotify

Have you heard the song “Brett Martin, You a Nice Man, Yes”?

Probably not. On Spotify, “Brett Martin, You a Nice Man, Yes” has not yet accumulated enough streams to even register a tally. Even Brett Martin, a contributing writer for The New York Times Magazine and the titular Nice Man, didn’t hear the 1 minute 14 second song until last summer, a full 11 years after it was uploaded by an artist credited as Papa Razzi and the Photogs.

When Martin stumbled on “Brett Martin, You a Nice Man, Yes,” he naturally assumed it was about a different, more famous Brett Martin: perhaps Brett Martin, the left-handed reliever who until recently played for the Texas Rangers; or Brett Martin, the legendary Australian squash player; or even Clara Brett Martin, the Canadian who in 1897 became the British Empire’s first female lawyer. Only when the singer began referencing details of stories that he made for public radio’s “This American Life” almost 20 years ago did he realize the song was actually about him. The song ended, “I really like you/Will you be my friend?/Will you call me on the phone?” Then it gave a phone number, with a New Hampshire area code.

So, he called.

There are a lot of ways to listen to ‘The Daily.’ Here’s how.

We want to hear from you. Tune in, and tell us what you think. Email us at [email protected] . Follow Michael Barbaro on X: @mikiebarb . And if you’re interested in advertising with The Daily, write to us at [email protected] .

Additional production for The Sunday Read was contributed by Isabella Anderson, Anna Diamond, Sarah Diamond, Elena Hecht, Emma Kehlbeck, Tanya Pérez, Frannie Carr Toth and Krish Seenivasan.

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COMMENTS

How to Start a Car Flipping Side Business
Devising a Strategy That Works. There are a number of different ways to build a car-flipping business that consistently rakes in the dough. Most flippers buy a used car, register it and sell it to the highest bidder within a short time frame. Cars and trucks that can be sold for between $2,000 and $4,000 are a good place to start.
How to Start a Used Car Business
1. Choose the Name for Your Used Car Business. The first step to starting a used car business is to choose your business' name. This is a very important choice since your company name is your brand and will last for the lifetime of your business. Ideally you choose a name that is meaningful and memorable.
Used Auto Sales Business Plan Example
Cash at End of Period. $987,635. $2,502,599. $4,749,528. Download This Plan. Explore a real-world used auto sales business plan example and download a free template with this information to start writing your own business plan.
Everything you Should Know About Buying and Selling Flipping Cars
4 Future Transport Solutions to Reduce Emissions and Preserve the Environment. *Flipping cars for cash. *Flipping cars on Facebook marketplace. *Financing a car. *Become a Specialist and an expert. *Selling your Car Flip and selling your car privately. *Learn about car repair. *Checking the oil level and the exhaust.
Starting a Profitable Used Car Business
Retail used sales accounted for approximately 1.4 million units. The average car dealership receives 166 qualified sales leads each month. Approximately 13.3% of sales prospects do not make it into the car dealership's Customer Relationship Management (CRM) system. The average close rate for car dealerships is 12.5%.
12 Tips To Start A Buy and Sell Used Cars Business
Want to Start a Business Buying and Selling Used Cars? Here Are 12 Tips to Aid You on Your Way. ... If you plan on selling more than a certain number of vehicles, you should apply for a dealer's license before you get to the limit. In the state of Maryland, private parties without a dealer's license may only sell 2 vehicles within a 12 ...
Sample Used Car Dealership Business Plan
Industry Analysis. The Used Car Dealership industry in the United States is a thriving market with a current size of over $120 billion. This industry has shown steady growth over the past few years, with an expected annual growth rate of 2.5% in the next five years.
Car Dealership Business Plan Template [Updated 2024]
Marketing Plan. Traditionally, a marketing plan includes the four P's: Product, Price, Place, and Promotion. For a car dealership business plan, your marketing plan should include the following: Product: in the product section you should reiterate the type of car dealership that you documented in your Company Analysis.
Car Dealership Business Plan: Complete Guide
How to Open a Car Dealership in 10 Steps: Complete Guide. 1. Executive Summary. The executive summary of a business plan gives a sneak peek of the information about your business plan to lenders and/or investors. If the information you provide here is not concise, informative, and scannable, potential lenders and investors may lose interest.
How to Start a Used Car Business
Dealer plates for used vehicles. Marketing material. Insurance policies. Surety bonds to protect customers (also known as a dealer bond) Fees for registering your business. Signage. While it's more expensive to make new car sales, it still takes a sizable investment to start a used car dealership.
How to Be Successful in the Car-Flipping Business
When buying a car, trust goes out the window. Everyone selling a car is the nicest person you've ever met (not strictly true—I've met some rude sellers, too). I've bought cars from young and old sellers alike. Let me tell you, the 80-year-old with the big smile will rip you off just as quickly as the 20-year-old.
Starting a Car Resale Business: A Step by Step Guide
Building your own inventory. Another milestone in the independent used car resale business is building an inventory of vehicles. The fastest way to acquire cars is to buy them from people selling ...
Earn $500+ This Weekend: An Intro to Flipping Cars
The most commonly flipped vehicles are either sought-after specialty cars, or older models in the $500-$4500 price range. For new flippers, start with low-priced cars to minimize your downside risk. Look for models from respected brands that may need some inexpensive repairs to add value to your deal.
4+ SAMPLE Used Car Business Plan in PDF
3. Market Analysis. A market analysis takes a look at the current market conditions that the used car business is involved in. It looks at the market trend, growth opportunities, and challenges in the market. The result of the market analysis section will be the basis of creating later on the marketing and sales strategy of the business.
Car Dealership Business Plan Template for Car Dealerships
FINANCIAL PLAN. Estimate your dealership's revenue and expenses, including sales, costs, financing, leasing, parts and service, and operating expenses. [Owner.Company] will generate revenue through the sale of new and used vehicles, as well as financing and leasing options. The dealership will also generate revenue through the sale of parts ...
Used Car Business Business Plan Business Plan
SUMMARY Description of the business Mission —The mission of Budget Cars will be to buy and sell a desirable mix of quality used cars, trucks, and vans, and to create a friendly atmosphere where Budget Cars will be known for being your family used car center. Legal Status/Location —The legal status of Budget Cars is a subchapter "S" corporation.
Auction Flipping Cars For Profit
Step 3. Checking Market Value. Preparation can help you find great deals on undervalued cars. Before you go to an auction, research the market price for common models, make, trims, and model years. At a public auction, the organizers sometimes reveal the inventory beforehand, allowing you to conduct thorough research.
How to Become a Car Trader
Keeping up to date with buying trends is the first step to knowing which cars are the best to buy and sell. The latest data from SMMT states that Ford Fiestas and Vauxhall Corsas are the best-selling car models so far in 2021, with 27,381 Corsa registrations and 24,578 Fiesta registrations respectively.
Starting a Business Buying and Selling Cars
Starting a Business Buying and Selling Cars. Stephen Hobbs, author of The Lazy Way to Buy and Sell Cars for Profit, shares his thoughts about how to profit from buying and flipping used cars and trucks. He shares important tips about buying cars way below value, getting the most for your cars, avoiding lemons and scams, buying at used car ...
How to Value and Sell Your Automotive Business
1. Understand the Value of Your Automotive Business. The first step you need to take to prepare your business for sale is to determine how much it's worth to potential buyers. Among the different methods for valuing a business, the most reliable is to look to the business-for-sale market to get a range.
Buying a Car for Business Purposes: The Top Considerations
Purchasing a new vehicle for your business may make sense depending on your plans. Pros. Warranty: New vehicles often come with warranties, which can reduce costs in the first few years of ownership. Reliability: A new vehicle has little to no miles on the odometer. Worn out and broken parts are uncommon.
9 tips on starting your own car buy-and-sell business
Have a checklist of to-dos when purchasing a car (including a list of documents for you to check, receive, and issue). Having a written plan will help you big time in managing your business -- and gives a clear plan of attack. 7. Space, space, space. Plan the location or space for your business.
How to Sell a Car With a Loan: A Step-by-Step Guide
That depends on whether you have positive or negative equity in the car. Talk to your lender about your plans to sell your car and request the necessary documents. Research the market value of ...
Bill of Sale for Car: What You Need To Know (2024 Guide)
A bill of sale for a car is a legal document that records the amount of money exchanged between a private buyer and seller for a vehicle. It's basically a receipt that both parties sign, and has ...
Nissan dealers aren't buying into a desperate plan to move cars
Nissan is allowing its dealers to sell the large SUV for up to 15% off the invoice price — a large discount off its $56,520 MSRP. Currently, Nissan vehicles spend an average of 98 days on dealer ...
Best Ways To Exchange Funds in a Car Sale
Quick Tips on Exchanging Funds When Selling a Car. Complete the transaction in a public place, regardless of your payment method.; Using cash is straightforward but risky, and sales of more than ...
New Milford approves specialty car dealership, repair shop
By Kaitlin Lyle, Staff Writer May 19, 2024. NEW MILFORD — With the Zoning Commission's approval, a specialty used automobile dealership and repair shop will be opening in the Old Route 7 Plaza ...
Money latest: When is traditional landline switch-off?
The number of 56-65 year olds looking to buy their first home has grown by 13% in the first quarter of this year. The average age of a first-time buyer is 33 - but 2.2% are now in the 56-65 age ...
Pakistan PM Unveils Broader Plan to Sell Most State-Owned Firms
ISLAMABAD (Reuters) -Pakistan will privatise all state-owned enterprises, with the exception of strategic entities, Prime Minister Shehbaz Sharif said on Tuesday, broadening its initial plans to ...
The Sunday Read: 'Why Did This Guy Put a Song About Me on Spotify?'
Even Brett Martin, a contributing writer for The New York Times Magazine and the titular Nice Man, didn't hear the 1 minute 14 second song until last summer, a full 11 years after it was ...

How to Start a Car Flipping Side Business

Survey the Landscape

Devising a Strategy That Works

Start-Up Costs to Consider

Required Resources and Materials

Being Aware of Laws and Regulations

Protecting Yourself from Liabilities

Making the Right Business Contacts

How to Find the Right Cars to Flip

Where to Sell the Cars

Operational Issues & Tricks of the Trade

Marketing the Outfit the Right Way

Growing the Business Incrementally

Taking the Business to the Next Level

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Used Auto Sales Business Plan

Integrity Auto Sales

Competition

Expectations

Financial Highlights by Year

Opportunity

Current Alternatives

Our Advantages

Marketing & Sales

Create a professional business plan

Locations & Facilities

Milestones & Metrics

Ownership & Structure

Management Team

Personnel Table

Revenue by Month

Sources of Funds

Projected Profit & Loss

The quickest way to turn a business idea into a business plan

How to start your used car business by utilizing APIs

Joses Peter

Used Car Dealership Business

Steps on starting a used car business

Think and act like an entrepreneur

Arrange Capital for Startup Costs

Choose market location

Create a solid business plan and set financial goals

Making Profits in the Car Dealership Business

Locate car auctions exclusive for dealers

Have an experienced mechanic

Provide Warranties on Your Vehicles

Create a website/mobile application and utilize APIs

Place Adverts and Build Your Online Presence

Calculate a “Bottom Dollar” for Each Vehicle

Prioritize Customer Service

Keep the car lot and showroom neat and attractive

Statistics About Used Car Dealerships

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