Tuesday, December 15, 2015

What type of Cars to buy to make money!

This is a question I get asked all the time. The answer is the ones you like. Each and every car has a unique selling point. My old mentors always said "there is an ass for every seat". Even the most undesirable cars appeal to someone somewhere but as a rule. Do your homework!

I have had very good luck with Minivans in a price range of under $1,000. One of my mentors said to me years ago that give me 10 1,000 cars over 1 10,000 car any day and that is a philosophy I use. The more expensive cars do not necessarily mean more profit. Craigslist has been a major player in the market for reselling. Most people go there to find great deals. I also use ebay when I am offering a little nicer car. One of the first things I consider even when I am buying a car is how I am going to liquidate it.


I currently own a 2001 Toyota Camry with 288,000 miles. I have it advertised on Craigslist for $3,000. I drive the car everyday and have put almost 10,000 miles on it. Lots of people call me up and try to negotiate with me due to the miles but this car is immaculate with a new timing belt,new tires,new rear gas struts and a fresh tune up. It is a one owner. It is unlike any 2001 Toyota anywhere so it will bring what I ask for it or I will get my return from driving it.
My point is find the benefits of any car you buy such as miles, history or owners, kbb values,auto check and put all that knowledge into selling the car not the make,model or year.

On the flip side of the Toyata is a 2005 Chevy Van I own. I am not a big fan of Chevy vans but we picked this van up from a private seller who thought it was junk and needed a motor. We bought it for $300. Turned out this Van had a bad instrument cluster. I can get it rebuilt for $50. We have it priced at $3500 and could easily take it through a dealer auction and get $2,000 for a quick profit!

The car game is not a secret. It's all about doing minor things to the car to make it remarketable. Remember this, the only excuse and experienced a car man should every make is the price. A nice car is worth a reasonable price. Mechanical excuses are hard to overcome. Make sure your car is clean and presentable.

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