Comments for The Lazy Way To Buy And Sell Cars http://buy-and-sell-cars-for-profit.com/blog Most People Are Too Busy Earning A Living To Make Any Money Wed, 09 Jul 2008 05:43:33 +0000 http://wordpress.org/?v=2.5 Comment on Moron Steals Car During Test Drive! by admin http://buy-and-sell-cars-for-profit.com/blog/moron-steals-car-during-test-drive/#comment-76 admin Wed, 02 Jul 2008 21:09:19 +0000 http://buy-and-sell-cars-for-profit.com/blog/?p=8#comment-76 I'm not sure I fully understand your question Sandra. If you are asking if there is way for buyers to pay you for a used car in monthly installments, then yes, you can do that. I am not a lawyer so I can not give legal advice here, but you would need to write up some kind of agreement that will describe the terms (monthly payment, interest, and due date) and both of you get a signed and dated copy. This agreement or note should clearly state that if they become delinquent with the payments then you get the car back. Of course, just like any lender, you would keep the title until they have paid off the loan. I have yet to do this, but this can actually be a very profitable way to conduct business and others have made a TON of money doing this because the car ultimately will sell for a lot more than it would in a normal cash sale...plus you make money from the accrued interest. You state that you don't have enough money to start. Raising cash is something I discuss in one of bonus books that comes with <a href="http://www.buy-and-sell-cars-for-profit.com" rel="nofollow">The Lazy Way To Buy And Sell Cars For Profit</a>. :-) Steve I’m not sure I fully understand your question Sandra. If you are asking if there is way for buyers to pay you for a used car in monthly installments, then yes, you can do that. I am not a lawyer so I can not give legal advice here, but you would need to write up some kind of agreement that will describe the terms (monthly payment, interest, and due date) and both of you get a signed and dated copy. This agreement or note should clearly state that if they become delinquent with the payments then you get the car back. Of course, just like any lender, you would keep the title until they have paid off the loan. I have yet to do this, but this can actually be a very profitable way to conduct business and others have made a TON of money doing this because the car ultimately will sell for a lot more than it would in a normal cash sale…plus you make money from the accrued interest.

You state that you don’t have enough money to start. Raising cash is something I discuss in one of bonus books that comes with The Lazy Way To Buy And Sell Cars For Profit. :-)

Steve

]]> Comment on Moron Steals Car During Test Drive! by sandra http://buy-and-sell-cars-for-profit.com/blog/moron-steals-car-during-test-drive/#comment-70 sandra Sat, 28 Jun 2008 14:50:08 +0000 http://buy-and-sell-cars-for-profit.com/blog/?p=8#comment-70 I´m from Portugal. Seems my problem is how to have cash for the firsts transactions. My problem is this: I know people wo wants a car and I know someone wo sells the car they want, but the seller wants all the money when give me the car, but the buyer just CAN give to me some cash every month. How can I do this? How can I pay money that I didn´t have? I´m from Portugal. Seems my problem is how to have cash for the firsts transactions. My problem is this: I know people wo wants a car and I know someone wo sells the car they want, but the seller wants all the money when give me the car, but the buyer just CAN give to me some cash every month. How can I do this? How can I pay money that I didn´t have?

]]> Comment on Used Car Boom! by Monica Rhodes http://buy-and-sell-cars-for-profit.com/blog/used-car-boom/#comment-57 Monica Rhodes Fri, 13 Jun 2008 23:56:49 +0000 http://buy-and-sell-cars-for-profit.com/blog/?p=23#comment-57 Hello all. I have just recently been turned on to this website/blog and have already begun to put the concepts here into practice as a private party. I am anxious to begin operating in a business capacity but have run into a road block because of my state's requirement that you can't run this type of business from your home but must operate from an office with an affixed sign ledgible from 300 feet and two parking spaces where vehicles can be displayed. I was wondering if there is anyone in the Tucson, AZ area that is already operating such a business with whom I could partner, or draw up an agreement with wherein I could operate under your company name (and therefore not have to obtain my own separate dealer's license) and subsequently share a percentage of whatever profits I generate. I would be willing to do all of my own work but would just need to be taken on as an associate. Is anyone willing to help me? If so, please call me at 520-490-9794. Thank you! Monica Rhodes Hello all. I have just recently been turned on to this website/blog and have already begun to put the concepts here into practice as a private party. I am anxious to begin operating in a business capacity but have run into a road block because of my state’s requirement that you can’t run this type of business from your home but must operate from an office with an affixed sign ledgible from 300 feet and two parking spaces where vehicles can be displayed. I was wondering if there is anyone in the Tucson, AZ area that is already operating such a business with whom I could partner, or draw up an agreement with wherein I could operate under your company name (and therefore not have to obtain my own separate dealer’s license) and subsequently share a percentage of whatever profits I generate. I would be willing to do all of my own work but would just need to be taken on as an associate. Is anyone willing to help me? If so, please call me at 520-490-9794. Thank you!

Monica Rhodes

]]> Comment on Small Used Car Prices Are Rising! by John Franken http://buy-and-sell-cars-for-profit.com/blog/small-used-car-prices-are-rising/#comment-50 John Franken Sat, 07 Jun 2008 01:40:02 +0000 http://buy-and-sell-cars-for-profit.com/blog/?p=24#comment-50 Hey Steve! Good post! Yes, I have noticed that small used car prices have been rising too. John Hey Steve!

Good post! Yes, I have noticed that small used car prices have been rising too.

John

]]> Comment on Gas Guzzlers - Can You Make A Profit Buying and Selling Them? by Bill http://buy-and-sell-cars-for-profit.com/blog/gas-guzzlers-can-you-make-a-profit-buying-and-selling-them/#comment-24 Bill Fri, 02 May 2008 19:08:47 +0000 http://buy-and-sell-cars-for-profit.com/blog/?p=16#comment-24 Hi Steve, Good stuff and I'm laughing as I read this because I've made good cash buying older gas guzzlers cheap and selling them cheap. I still made money so I'm happy. Thanks for this info! I learned a lot from both of your books too. Hi Steve,

Good stuff and I’m laughing as I read this because I’ve made good cash buying older gas guzzlers cheap and selling them cheap. I still made money so I’m happy. Thanks for this info! I learned a lot from both of your books too.

]]> Comment on Export Salvage Cars For Profit! by admin http://buy-and-sell-cars-for-profit.com/blog/export-salvage-cars-for-profit/#comment-23 admin Tue, 29 Apr 2008 04:30:12 +0000 http://buy-and-sell-cars-for-profit.com/blog/?p=14#comment-23 Thanks John! One thing I forgot to mention in my Export Salvage Cars For Profit post here above was that the Mexican government just recently instituted a law that ONLY allows used cars that are 10 years old into their country. That means it can't be older than 10 years old and it can't be newer than 10 years old. Bizarre, right? Apparently the reason is to limit stinky old cars (I guess they are actually starting to think about the air pollution factor) and nothing newer is to protect the car dealerships down there because people were buying used cars at auctions here in the U.S. and then would export them to Mexico for big profits. But guess what? If you live in the U.S. and fairly close to the Mexican border...and you have a 1989 vehicle for sale...it'll sell for a premium because of this. Steve Thanks John!

One thing I forgot to mention in my Export Salvage Cars For Profit post here above was that the Mexican government just recently instituted a law that ONLY allows used cars that are 10 years old into their country.

That means it can’t be older than 10 years old and it can’t be newer than 10 years old. Bizarre, right? Apparently the reason is to limit stinky old cars (I guess they are actually starting to think about the air pollution factor) and nothing newer is to protect the car dealerships down there because people were buying used cars at auctions here in the U.S. and then would export them to Mexico for big profits.

But guess what? If you live in the U.S. and fairly close to the Mexican border…and you have a 1989 vehicle for sale…it’ll sell for a premium because of this.

Steve

]]> Comment on Export Salvage Cars For Profit! by John http://buy-and-sell-cars-for-profit.com/blog/export-salvage-cars-for-profit/#comment-22 John Tue, 29 Apr 2008 01:43:12 +0000 http://buy-and-sell-cars-for-profit.com/blog/?p=14#comment-22 Hey Steve, Great post and I'm really enjoying your new blog about buying and selling cars for profit. I subscribed to your blog with my RSS Reader using the "Subscribe" button below and everytime you do a post I can see that you have almost instantly on my home page. Very cool! Thanks again! John Hey Steve,

Great post and I’m really enjoying your new blog about buying and selling cars for profit. I subscribed to your blog with my RSS Reader using the “Subscribe” button below and everytime you do a post I can see that you have almost instantly on my home page. Very cool!

Thanks again!
John

]]> Comment on Welcome To My World Of Buying And Selling Cars! by admin http://buy-and-sell-cars-for-profit.com/blog/welcome-to-my-world-of-buying-and-selling-cars-for-profit/#comment-21 admin Wed, 23 Apr 2008 21:35:05 +0000 http://buy-and-sell-cars-for-profit.com/blog/?p=1#comment-21 Hi Tony, There are two ways to handle selling a car for someone else (a consignment)... 1) Sell the car for a straight commission...or... 2) Sell the car for anything over and above a pre-agreed upon selling price. Unless you are really familiar with the market and what this particular car should sell for then a straight commission is usually the best way to sell a car for someone else. To preserve good relations with your family member (IMPORTANT!), I suggest going the straight commission route and writing up a simple little agreement stating the percentage of your commission. You might also consider stating on there how much you should get if they choose to NOT sell the vehicle after you have prepped it. After all, you should get something for the time you spent cleaning it, fixing things, placing ads, fielding phone calls, showing the car, etc., etc. I've sold cars for other people both ways and only had two times that things got weird. I learned from both experiences though and don't do things that way anymore, but here is what happened... I agreed to sell a car for a relative for anything above a certain price. The price was set by my relative...and I later learned that it was unrealistic (My mistake cuz I left the pricing research up to him). That deal was a HUGE hassle because stuff started breaking on the car immediately (like power windows) and I had to take the time to fix it and there were other things wrong too that I don't remember now. It was a very complicated VW Corrado. I finally sold it and deducted everything it cost me to repair it and didn't make a penney on it. The other time was for a friend. It was a VW bus. I cleaned that thing thoroughly but the wife-ee of my friend kept raising the price (because it looked so good after I prepped it) and then it wouldn't sell and she took it back, and again, I didn't make a penney on it. Actually, both times I was glad to get rid of the thing and just be done with it. The mistake was that I kind of let things be on a more casual basis BECAUSE I was dealing with family and a friend (BIG mistake!). In fact, it is with family and friends that you really need to be MORE careful...assuming you like them and want to hang out with them later! Steve Hi Tony,

There are two ways to handle selling a car for someone else (a consignment)…

1) Sell the car for a straight commission…or…
2) Sell the car for anything over and above a pre-agreed upon selling price.

Unless you are really familiar with the market and what this particular car should sell for then a straight commission is usually the best way to sell a car for someone else.

To preserve good relations with your family member (IMPORTANT!), I suggest going the straight commission route and writing up a simple little agreement stating the percentage of your commission. You might also consider stating on there how much you should get if they choose to NOT sell the vehicle after you have prepped it. After all, you should get something for the time you spent cleaning it, fixing things, placing ads, fielding phone calls, showing the car, etc., etc.

I’ve sold cars for other people both ways and only had two times that things got weird. I learned from both experiences though and don’t do things that way anymore, but here is what happened…

I agreed to sell a car for a relative for anything above a certain price. The price was set by my relative…and I later learned that it was unrealistic (My mistake cuz I left the pricing research up to him). That deal was a HUGE hassle because stuff started breaking on the car immediately (like power windows) and I had to take the time to fix it and there were other things wrong too that I don’t remember now. It was a very complicated VW Corrado. I finally sold it and deducted everything it cost me to repair it and didn’t make a penney on it.

The other time was for a friend. It was a VW bus. I cleaned that thing thoroughly but the wife-ee of my friend kept raising the price (because it looked so good after I prepped it) and then it wouldn’t sell and she took it back, and again, I didn’t make a penney on it.

Actually, both times I was glad to get rid of the thing and just be done with it. The mistake was that I kind of let things be on a more casual basis BECAUSE I was dealing with family and a friend (BIG mistake!). In fact, it is with family and friends that you really need to be MORE careful…assuming you like them and want to hang out with them later!

Steve

]]> Comment on Welcome To My World Of Buying And Selling Cars! by Tony http://buy-and-sell-cars-for-profit.com/blog/welcome-to-my-world-of-buying-and-selling-cars-for-profit/#comment-20 Tony Wed, 23 Apr 2008 19:53:59 +0000 http://buy-and-sell-cars-for-profit.com/blog/?p=1#comment-20 I am very interested in getting started in this business. Many moons ago i was a carsalesman. Recently, a relative of mine mentioned he was interested in saleing his Jeep. It accured to me that i could sell it for him at a commision or for his price and add my commision onto it. What do you think. Thanks, Tony I am very interested in getting started in this business. Many moons ago i was a carsalesman. Recently, a relative of mine mentioned he was interested in saleing his Jeep. It accured to me that i could sell it for him at a commision or for his price and add my commision onto it. What do you think. Thanks, Tony

]]> Comment on Welcome To My World Of Buying And Selling Cars! by admin http://buy-and-sell-cars-for-profit.com/blog/welcome-to-my-world-of-buying-and-selling-cars-for-profit/#comment-19 admin Wed, 23 Apr 2008 01:24:24 +0000 http://buy-and-sell-cars-for-profit.com/blog/?p=1#comment-19 Its a start Mark. Thanks! Steve Its a start Mark. Thanks!

Steve

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