Content

• Steps
• Tips

Buying and selling cars can be a very profitable venture if you know how to do it right. The government regulates the number of cars that an unlicensed citizen can buy or sell in a year without incurring significant fines or penalties. Therefore, it is important to learn how to buy many cars and sell them legally without facing significant consequences. While there are many ways to buy cars, it is also true that in order to buy and sell cars for a profit, there is a certain way to do it legally. Follow these steps in relation to buying and selling cars to stay within the law and ensure maximum profitability.

Steps

1. 1 Increase your savings. You will need a significant amount of funds to buy cars and additionally obtain the necessary licensing. Prepare at least $ 10,000 for upfront costs.
2. 2 Get a dealer license. Licensing details vary from state to state, but generally lead to course completion and licensing examinations. This step is very appropriate because without a dealer license, you cannot legally buy and sell cars for profit.
3. 3 Make a decision to localize your business. Want to buy and sell cars from the comfort of your home office, or would you rather run a used car market? Do you plan to maintain a site where you will show and sell cars?
4. 4 Define your marketing strategy. You need to know what people are looking for before you go to buy cars. Advertise your car business and make a list of in-demand cars.
5. 5 Build a site. Use your dealer license to purchase vehicles at wholesale prices.
   • Go to private car auctions. Only people holding an active dealership license can attend private auctions and bid / buy used cars at below market prices.
   • Submit closed orders in new auto dealerships. This is another aspect of the automotive trade that is only open to those who hold a dealer's license.
6. 6 Advertise. Invest in business cards, flyers and ads that post information about your car buying and selling activities.

Tips

• Hire a trusted auto mechanic to help you before buying any used car. Bring a professional with you to auctions and dealerships.
• If you plan to promote your car buying and selling business, you will need more than just a dealer license. To purchase a batch, you will need a guarantee and a business license. This will require an office and inspection by the Motor Vehicles Department (OAS).
• Require buyers who make specific inquiries to leave you a certain amount of money as a deposit before you submit your bid or buy a vehicle at an auction.
• Find private online car auctions on the Internet or other dealers who buy and sell used cars.
• Maintain a list of potential buyers, along with the make, model and year of the vehicle they are interested in purchasing.