I originally got into this business strictly as a part-timer, actually as kind of a weekend hobby sort of thing. I never planned for it to blossom into a successful full-time business. It just kind of happened.
For a long time now I've been getting many phone calls and emails from people wanting to know how to buy and sell cars on their own to make money.
Unfortunately, good answers about making money in this business aren't so quick and easy that they can be covered in a fairly brief email or phone conversation.
I Could Write A Book On It
Yeah, the truth is, I could literally write a book on everything I've learned. But I don't have the time ... that's a whole other commitment.
Instead, I found someone who did write a book on how to succeed buying and selling cars. It's good. I bought it myself to make sure. It's by a guy who has made an excellent living buying and reselling hundreds of cars over many years.
More on him in a moment.
What Attracted Me To The Business
First and foremost, I liked cars. Was I an expert on all the cars out there? No way. I just generally liked cars.
Was I an expert on car mechanics and so forth? Again, no way ... I'm still not. In fact, I leave 90% of this to others who know what they're doing. I just liked cars and thought it would be fun.
Next, I knew the car market was gigantic. I mean, just about everyone owns a car and buys another one every 2 to 4 years. There's just no question about the size of the market and the ongoing consumer demand.
It's also not as dependent on a good economy as many businesses are. In fact, when times aren't great (like now), more car buyers turn away from new cars and buy used cars instead.
I knew that much of it would come down to the price. If I could offer buyers a price advantage, then I'd have a big advantage too.
I have to admit that I was also attracted to the "money" aspect of this. I figured I could make roughly $500 to $1,500 per car ... not bad for a single sale. And worth it even if I just sold 1 or 2 a month.
And I knew I could get started with very little upfront costs, unlike most other businesses.
Do You Have To Get A Car Dealer License?
One of the big advantages of buying and selling cars is that you can actually "try it" first, without a commitment and without a Dealer's License to see if it's for you. Not too many businesses are like this.
The reason for this is simply due to the fact that people need to buy and sell their own cars all the time ... so states can't make everyone go and get a Dealer's License before doing this.
Instead, most states have a yearly limit on how many cars an individual can sell. When they hit that point, then they can decide whether to go ahead and get a license. But even this is quite loose.
For example, here in Florida it is 3. In New York it is 6. In Ohio it is 5 ... and so forth. And people greatly expand this by selling some in their spouse's name, their father's name, their friend's name, their cousin's name, and on and on.
While I'm not advocating this, the point is that you can decide as you go along if you want to get your license.
The key point about the dealer's license is this: If and when you decide you want one, the author shows you a simple, inexpensive and legal way to get all of its advantages. It's pretty smart. I've got to admit that I never thought of this.
So, Back To The Guy Who Wrote The Book
Yes, he's definitely a smart businessman. And this is important because I know first-hand that this can be a "tricky" business as well. So, I'd like to pass this information along for anyone who may be serious about this.
I found him by scouting around on the internet to see what I could find on the subject, and found quite a lot actually. Unfortunately, a lot of it was junk. Found some stuff that looked good too but I was kind of shocked at the prices ... in the $300 to $600 range.
Then I found this one resource that seemed to cover it all but only cost $49. I figured, "what the heck", and bought it. Turns out it was a more-than-solid guide.
The author is obviously very experienced on the ins and outs of buying and selling cars (he's bought and sold hundreds on his own ... and without a license I should add) and will give anyone interested an excellent "blueprint" to follow.
He covers all the important issues, such as where to locate vehicles, how to pay the lowest prices, how to start with little cash, how even "non-mechanics" can avoid cars in poor condition, how to write irresistible ads, how to advertise for free ... and a whole lot more.
And what really was the clincher for me on this is the fact that he provides free unlimited email coaching as part of the course. I sure could have used that when I got started to avoid a number of my initial missteps.