Checking at Auctions

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Posted by Cars for sale on Sunday, March 20, 2016

Interview with Gee a new wholesaler

 

This interview with Gee took place on March 16th 2016 at The Reward Group offices. 

 

This is the way I work on my investments

Driving Cars Free!

I live in a world where most people cannot understand. I get to drive my cars free! That's Right FREE! I buy all of my vehicles at auction. I drive these vehicles while I am evaluating them. For instance in case, I am currently driving a 2001 Toyota Camry. I purchased this car at auction of course and I have now driven it over 15,000 miles. I have maintained this car  immaculately and it was previously  maintained by the original owner. I paid a premium for this car and other than a few minor cosmetic imperfections, it's flawless. I decided to check the Kelly Blue Book this morning on the vehicle and found that after driving over 15,000 miles.  I am still well within a marketable profit on this car. I love being in the car business for this very reason alone even if it did not
afford me far greater opportunities. I don't get emotionally attached or let me correct that I get emotionally attached to every vehicle I buy otherwise I would not buy it. This is just a fascinating business one that affords you so many resources not available to anyone without an auto dealer's license. Of course I pay no tax on these vehicles because dealers are tax exempt so that is additional profit in my pocket. I have no time down waiting for the title to be transferred to me because of course I am licensed to transfer titles as well. So this morning it comes time to start marketing my 2001 Toyota Camry. It is a great car! This car is Trip ready with new Tires,New timing belt,New Tune Up and Oil Change! The Price will be $3200. It is a One Owner Vehicle!

And the new owner will find it a very dependable automobile.

There were over 1000 Vehicles at Auction Yesterday. Lots of Money to be made. Lots of Deals to be had.

Big Day of Previewing at Manheim (TTG)

I went to the wonderful Manheim Facility in Nashville Tn. today and what a Selection! They had a Run List of 970 plus vehicles for an open consignment sale. Open consignments means New or Used Car Dealers can run inventory. I was looking at some notations on a vehicle I was interested in and saw *TTG. I approached an Auction Rep. and said I assume TTG means Title to Go? She replied she did not know but would check. She did and verified it did mean TTG. Now what did Title to Go mean. Either they have it or they Don't? Once again she contacted the Title department and as I expected the Seller had stated he had the Title and he would present it to the Auction only if the Vehicle Sold.  This is common since the Auction Charges $50 if the Title is not present when the Vehicle is Sold. But this is an example again to get clarification on all notations when looking a vehicle.

844 Vehicles to buy from

Looking forward to being in the game tomorrow!

application denied

We reserve the right to refuse access to any individual. Often we get get application and the person does not appear trustworthy. Number one if they do not speak to us personally before signing up we are leary. This person is normally jumping in without understand our risk. They are concerned with themselves and their risk.

Due Diligence

I receive many request from people interested in how I can help them until they get their invoice then, they start questioning the validity of the program. This blog is put here to provide you with information. I find that most people will not invest the time until they are asked to invest their money. I am not interested in this person. My fees are less than you can buy a hot dog cart for. Yet some people act like it is a major investment. I simply do not wish to start a relationship on mistrust. There are many success stories here in this blog.

Went to the Auction in Nashville yesterday and stayed with my plan on investing. I look for cars that may need a few minor repairs for those on Craigslist looking for a project car. One I bought was a 1998 Lincoln Navigator. 
I paid $650 after fees $765. I drove it back from Nashville. Some people are in this business to satisfy their ego. Others are in it for the money. Neither one is wrong. It's just what you feel your calling is.

Getting the Treatment you derserve!

This morning I am reflecting on all the years I have been going to Auto Auctions I know how to get the treatment I deserve.  We often walk up to the ladies at the counter and expecting to get our titles and be treated with respect. What do we give over all the others who walk up and expect the same. Day in and Day out these ladies often get no more than a kind word if anything. If you want respect give it. Show them you empathize and appreciate their attention. Send a cake or maybe lunch every now and then. This may cost you $50 or so. It is well worth the investment. When you are looking for a Title or needing some special attention, be special to them and deserve the attention. One day if you are a car dealer you are going to need a favor so pay it forward!

Tom Success Story

Tom called me about becoming a wholesaler in October of 2015. We discussed the opportunities and he jumped in our network mainly because he wanted the experience I had built. Tom Last week earned $6800 as a wholesaler. I am going to call Tom today and go over some of his success stories that have led up to his feat. I recorded a 22 minute phone call with Tom and fished for some his secrets. This guy is on the ball.

Click here to listen to His Call

Phylosophy

When starting any business it’s very important that you have a philosophy in mind.  Younger people tend to have a different philosophy between life and business.  As we get older we realize that life is simply a business. The car business is no different from any other life business.

  

The car business is strictly a lifestyle.  Most of us entered this business because we have a passion for automobiles.  As a matter of fact a passion for automobiles is what partly built America.

There are many reasons that I’m in this business however the main one is my passion for automobiles. As a young man growing up in a salvage yard I learned to diagnose and work on vehicles at a very early age. The type of vehicle I drove and the compliments that I got depended on my ability to whip the car into shape. I started driving some very ugly cars. First I would get them running good and then I would start doing bodywork.  I was known in school as the kid who all the time spend his money on his car. I wasn’t very popular with anyone except those that treasured their rides.

Once I got a car that looked sharp and traditionally was very fast other kids wanted to buy the cars from me. So I would sell it, go to the backfield and grab me another piece of junk and begin the process all over again of transforming that junk into a cool ride.

I had a reputation for knowing how to work on cars and transforming them.

As I think back now some of the classics that I had would be worth a fortune today.

What I loved more than anything was the desire that I created in people to own my masterpieces. Of course as a kid I never started working on a car with the intentions of selling it. So I put my efforts into making sure it was very good transportation for me to get to and from school as well as other places that I wanted to travel. The more I hesitated at selling a car the more prospective buyers were determined to own that car. I learned at very early age the take away close. 
The take away close is simply showing no interest of selling the vehicle. I often used the comment that it would take a lot of money to get this vehicle away from me.

Trading make the Deal Sweeter!

I love to take trades in for cars I have for sale but let me explain how the big Dealers do this process.

First you have the salesman that is pricing the car for a Retail price. You have the sales manager and you have the wholesaler who  appraises ACV (actual cash value) of the car. A wholesalers never gives the amount he speculates he can retail the car for. He is only concerned with what the car would bring cash at the very next auction. As a matter of fact he is often compensated on his knowledge of the wholesale value of the car. It is the used car manager who will decide if the car is kept for retail or sent to the auction for cash liquidation.

What the wholesaler will appraise the car will consist of all the repairs needed to make the car retail able. He will take into consideration first tires, detailing, oil changes, mechanical issues. He will deduct all these charges for the actual cash value of the car.

We often call this in the business "steal the trade". This is a huge way to make big money on a single purchase. One car can make you thousands on the trades. I often give $500 or $600 for a trade and sell them for $2,000. The car buyer wants what you have and is very willing to give what he has away to get it.

I recently had a 2000 Crysler Van on Craigslist for $2000. I paid at the Auction with auction fees $565. A man called me up and told me he had $1500 cash. I asked him if he had a trade? He said yes but it wasn't much. He said he did not like it, but it ran. I said I would take his $1500 and his van. He jumped at the chance to get my van. He brought his van and $1500. I sold his van the next day for $1000. So instead of getting my asking price of $2,000 I ended up getting $2500 through my trading.

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.

Check the cars

The history of an Automobile is very important when buying or re-marketing a car. Do your homework as a buyer or seller. It can make a difference!

Don't invest in a car lot!

Most people do not understand that owning a car lot is a lot of hassle. It is more than buying and selling cars. It is a full time business to answer to the State DMV every detailed action you are involved in. An example would be trying to be a licensed electrical contractor and then trying to wire houses.

You can have the same privileges as a auto dealer by working through a licensed auto dealer. This dealer can authorize you to act upon their behalf to buy and sell cars. You negotiate your privlige fees with the dealer.
 A very good friend of mine has lived a very good life. He often compares flying an airplane does not necessarily mean you must own it. This is so true.

I have been a car dealer for over 40 years and the best years in the car business were the years I spent not running a car business.

The absolute best way to be in the car business is as a rep for the dealer who owns the Dealership. Let him handle all the business aspect and let me buy and sell cars. I have my license through a dealer. He pays the bonds,insurance and all the overhead. I contribute to his overhead with a small monthly fee.

You can negotiate a deal with a small used car lot that is a win,win for both of you.

I currently pay only $300 per month for access to dealer only auctions and I am able to transfer my titles through that dealer and avoid registering or paying tax on my vehicles.

I currently manage many car dealers agents programs for them. Due to my experience I can help you negotiate a win win deal wherever you live.

The main thing to understand is interstate laws to not apply to car dealers. A license from any state will work in the state you reside.

This perfectly legal and simple.

Larger car dealers are very politically connected and will not entertain these types of relationships.

I actually started dealing this way in cars in 1980. I had more fun than as I do now just buying and remarketing cars and leaving the headaches to the principal dealer.

The principal is condersidered the dealer but anyone trading in cars is the a car dealer.  The principal  can appoint as many dealers as he likes. Just as a  Real Estate broker can have many agents in their office.

Cursbstoning

It was in the 1960s when I was first exposed to the state inspector for car dealerships.
My dad had a salvage yard and he would often repair automobiles
then place them outside in our front yard. One day a man stop by to look at a vehicle
 my dad had placed in our front yard. Of course they struck up a conversation about the vehicle
and then my dad opened up like a book. The man said yes he had seen several vehicles
in our front yard and was curious if we had a dealer's license. Of course my dad responded no.
He then told my dad as he gave him his card he was the state inspector for Tennessee.
He then informed them he would be paying a fine.  He also needed the records of the
previous vehicles he had seen in the front yard. The man had taken the vehicle identification numbers
from each car and knew my dad had sold the vehicles. This is what we call today
(curbstoning).

  My dad came into the house furious as he had just been fined and now was under investigation
for back taxes due from the previous sales. Now in haste he began to search for a location
and the process of acquiring a used car dealer's license. Now keep in mind my dad
had no intention of leaving his very successful salvage yard business and working in a car dealership.
My dad had decided his son who had never sold a car in his life would be running
the day-to-day activities of this used-car lot. Thus began my sink or swim career
in this business. We opened up that little car lot and due to different Philosophies
and the fact I had no experience this venture was very short-lived.
Moving forward about two years and thanks to synchronicity came in contact with a fascinating
intelligent man. I had never met anybody like this man. Quiet and distinguished with a
unmatched pair of confidence. It was a sales manager at a local Volkswagen dealer.
Although he was new car manager  his used car manager's fascination with used cars far exceeded
his love for the new car business. Bill took pride with every used car we place on our lot.

Our dealership was known for some of the nicest used cars anywhere in town. Our wholesalers
new never to bring us a car to buy unless it was front line ready. Bill always said
that a nice car could never be overpriced! Our sales often proved he was right.