Thread: Selling Vehicles

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Well guys, I have been pondering the idea of buying some local vehicles for a very good deal, cleaning them up and little to no work and reselling them for a little bit of a profit ($600-$1500). I plan to buy my first one that I have had my eye on for quite some time here soon if everything goes as planned. Now keep in mind this is not an old car, hot rod or anything. It's a newer SUV (99 4x4 Blazer). The vehicle is in perfect shape needing little to nothing but is a great price I hate to pass up and with one weekend of detailing it, tune up, and fluid changes I can make it look and run like new.
Anyways, this leads me to my question... What would I need to do to get a dealers license (plate, etc) to be able to go to auctions and buy and sell vehicles? I guess it varies on state to state but do I absolutely need to have a license? If so then do I need insurance and everything?
I only plan to buy and sell about 5-8 cars a year if I do this. If I do not need a license or anything, do I just buy them and sell them as if they were my own vehicle I was buying for personal use and decided I want a new one?

Sorry for all of the questions here, I figured some of you have gone through this a time or two and can give me your 2 cents or some suggestions, info, etc.
Thanks!

Check with your states Dept. of Licensing to see what their requirements are for a dealers license. I think that you can sell so many cars (as a private individual) with out a license, but it would be worthwhile to check; this will add to your costs.

Seems that it's a pain in the butt here in NC to get a dealers license so I will scrap that idea. I thought it would be nice to be able to go to car auctions and get some vehicles that need some work for wholesale/auction price.

sounds like you already decided against it anyway, but what makes you think you can sell that '99 Blazer any quicker than the person selling it right now? a little clean up wouldn't make too much difference if its in "perfect shape" imo..just my thoughts. my 98 Blazer was for sale all last summer with no bites

True and that is what I thought and why I decided not to get it. I started thinking about getting it for myself but I'd rather have a full size 2 door Tahoe and get the same gas mileage out of it with more power. The Blazers are horrible on gas for their size and they are very heavy.

Ebay used to be great for that; I was turning over quite a few 4 cylinder econboxes from the auction and making decent money but the last year has been really bad. Same for parts; Ebay just isnt what it was a year ago as far as selling.

As long as you dont register the vehicles, (keep the title open if the seller will let you) you can sell as many as you want. Plus this way you dont have to pay the sales tax which will eat up some of your profit......Not saying it's totally legal, but unless someone complains, who's gonna know?

Originally Posted by falconvan

....... Ebay just isnt what it was a year ago as far as selling.

Neither is any other venue. The number of buyers isn't what it used to be.

Car sales here are way down and it is almost impossible to sell one if you own it. A guy around the corner from me has been trying to sell his big Dodge ram pickup for over a year now and can't even get an offer. Maybe when the economy picks up some it will help, but with the amount of unemployed around here, people are only buying what they have to have.

Ron

Originally Posted by Bob Parmenter

Neither is any other venue. The number of buyers isn't what it used to be.

You aint kiddin, Bob. I've got a pile of good parts I've ran through Ebay and Craigslist several times and not had a bit of luck. I hate to pitch anything but then again I hate to see the pile getting bigger and taking up garage space.

Originally Posted by falconvan

You aint kiddin, Bob. I've got a pile of good parts I've ran through Ebay and Craigslist several times and not had a bit of luck. I hate to pitch anything but then again I hate to see the pile getting bigger and taking up garage space.

Maybe youre just not pricing the items right.....I just put a set of factory wheels and tires from my 08 silverado on craigslist. (tires had over 60,000 miles on them) and sold them within an hour! Plus had three more calls while the guy was on his way to pick them up! Also put some fencing up on craigslist (barb wire, posts, etc) and sold it the same day! I had to cancel the ad to stop the phone from ringing! I got a guy right now from the HAMB trying to negotiate a deal for my 51 Belair.......Gotta be willing to cut a deal if ya want to move your stuff.....JMHO.....

I had it pretty cheap; must be nobody wants a couple old worn out straight sixes.