Make money selling cars on craigslist

He put together this VERY detailed guide to get your gears turning on the dollars that could be lurking in driveways in your town. Years ago when I became interested in buying and selling cars on the side I had no idea where to start.

All I knew was that I wanted these three things:. When I started flipping cars I knew very little about buying and selling cars and I made a bunch of mistakes that cost a lot of time and money.

This post is quite long and detailed. I typically try to spend only 3 hours for the entire finding and buying, preparing for sale, and selling process, which is why I named my blog the 3HourFlip.

The trick is to learn how to make deals come to you so you can spend less time searching and more time selling. Many states in the US have regulations on how many cars one person can own in one year. For example, in California individuals can only sell 5 cars a year. Stick with money you already have. Not only does starting small lower your risk, it also takes some of the pressure off your first flip which usually translates to better decision making and less fear.

Begin studying car prices online and with pricing guides to get a feel for what typical car prices are in your area. The truth is, there is no actual way to get an exact value on one particular vehicle. Each automobile has many different qualities and features than the next.

Pricing guides are only used to help determine the ballpark value of a car. The real value of a vehicle is only determined by what someone else is willing to pay for it. I have found that most potential buyers use Kelly Blue Book to determine the value of a vehicle which is why KBB is my primary pricing guide.

I mentioned earlier that I typically try to spend just one hour finding and buying cars that I flip. The trick is to learn how to attract deals that help you spend less time looking and more time buying.

Specialty vehicles have a lower number of potential buyers, which means they may take much longer to sell. A great way to get deals to come to you is to post wanted ads. Sell your car to me instead. This is not a scam; I buy cars. After you receive emails in response to the ad, copy a link to the KBB trade-in value of the vehicle and send it to the seller with an offer above the trade-in price. Click on the link and check it out.

This third-party tool is WAY better than the official Craigslist app. This is really cool and will be fun to play around with different filters. You could also use this for specific searches in non-car Craigslist flipping businesses. Getting instant notifications will keep deals coming to you and help you get to deals before other Craigslist car shoppers.

Look to your sphere of influence to help you in this business. Offer to pay anyone that helps you find a car that you can purchase to flip for profit. Working personal referrals can be one of the best ways to find leads on vehicles before anyone else does. Print business cards and hand them out. This is one of the ways you can start having deals come to you and the more eyeballs that you have working for you, the better. If you know absolutely nothing about cars just plan to spend a little extra money getting the car checked out by a mechanic before you buy it, and know that you may lose out on a couple deals as a result of that extra step.

After all, before you can make any money, you have to some inventory to offer. You should feel happy about that. Your vehicle may be in need of minor repair before you list it to sell. Often you can find private automotive technicians that work from home and offer discounted rates. They will often place an ad in your local newspaper classifieds. Some car flippers elect to make repairs themselves which definitely increases the overall profit margin on the flip.

Cleaning your vehicle is one step that you never want to leave out of the selling preparation process. Some people choose to hire an auto detail company to clean their vehicles. Using detailers helps to keep your invested time under our 1 hour goal for sale preparation.

That requires a little more work, but does keep your margins higher. Always leave negotiating room in your prices. It is by far the fastest way to sell a vehicle.

I recommend that you list basic information about your vehicle in the ad. Just list all of the features with great pictures. I also like to list my telephone number in the ad. Many people are more comfortable texting when they have questions or want to set up a time to see the vehicle. It also helps to weed out flaky buyers.

A buyer that calls you is probably more serious than a buyer that sends you an email. Often a local business owner that is located on a busy highway will be willing to rent lot space to someone selling vehicles.

I personally love to have agreements with storage facility owners located at the intersection of two very busy streets. They rent cheap and are happy to maximize their unused real estate.

If you already live on a busy street simply park the vehicles in front of your house with a for sale sign in the window. You may be surprised the amount of attention your vehicle gets if it is priced correctly. Target the type of customer that would purchase your vehicle and find out where those types of people hangout. Once you know where they are, post a flyer for your vehicle on a bulletin board. For example, if you purchase a small vehicle that would be perfect for a college student, post a flyer on a local college bulletin board.

If you have a large vehicle designed for comfort, post a flyer on your local retirement community bulletin board. To keep your time invested in this step low make sure you try to gauge how serious the buyer actually is. THE most important tip that I can give regarding selling is this: However, I do consider myself a good marketer.

Being a good marketer is VERY different than being a good salesperson. Just be yourself, be honest about everything and let the buyer make the decision about purchasing. Negotiating price while selling is very similar to negotiating price when buying.

Pick a number in your mind that is the lowest price you would be willing to accept, and stick to that number. Not perfect, but still great shape. You can find most US state-specific forms at USLegalForms.

Doing it again of course! Once you reach a point where you can buy and sell enough cars to recapture your initial investment, all of the profits from the sales go directly into your pocket. Final Words from Jeremy. Visit me at 3HourFlip. Ever sold a car for more than you paid for it? I just visited the website to get the ebook, thanks for sharing! Hey very insightful, quick question.

When you buy the car from Craigslist that you plan to sell do you add it to your insurance policy? How do you guys handle the title when flipping cars? Do you register it in your name and wait on it to come back from the state? Hi Jimmy, I LOVE four door sedans. Those types of cars generally attract the largest number of buyers and appeals to the largest demographic. I typically try to stick with sedans that have less than , miles because high miles sometimes scare buyers off.

Some good tips but how do you deal with the DMV stuff? It would be nice if you had given some detailed examples of the math for cars you had actually bought and sold in terms of hours and dollars. Hi James, excellent question and certainly a common one! If someone lives in a state that has a cumbersome vehicle ownership transfer process and requires a notary public, the process might take more time than just an hour.

After all, traditional auto dealerships pay taxes and commissions to their salespeople but still have plenty of margin left over to make it worth their while.

Keeping sales taxes down is just another reason why I like lower priced cars. It dives a little deeper into car flipping and might answer a few more questions that you have.

Shoot me a note at 3HourFlip. Also make sure you checkout the 3 Hour Car Flip Podcast where I answer questions just like yours. I believe it takes a few weeks to get the title transferred over and back in your possession.

Can you elaborate on any methods to streamline this portion of the process? Also, are you insuring it even for a few days? Or just carrying home on trailer and offering no test drives? Hi Mike, many states offer expedited title transfers and if I sell the car before I get the title back from the DMV I usually sign over ownership and mail it to the buyer after the sale.

I make sure to give them a solid bill of sale at the time of purchase. Check with your insurance provider regarding liability coverage on transporting newly purchased vehicles.

How to Sell a Car on Craigslist: 14 Steps (with Pictures)

My policy covers in-state short distance transports. A trailer also works too. Great post, you gave me nice Idea for earning money. Especially liked part about buyers in lower price range. So do you title these vehicles in your name or do you need to get an independent dealer license of some sort to sale cars? I know in Texas if you sale more than 5 cars you have to get a dealer license and the 5 cars you sale to flip must be titled in your name for tax purposes….

I have a question about title transfer and how you handle that.

In WA state we have 15 days for title transfer or pay a penalty they want their sales tax. What is the correct way or way around to sell the vehicle without doing title transfer and just sell directly to the new buyer. When you first sold your car did you have to get it registered in your name first and get the title and everything before you put it up for sale?

How To Sell Your Car On Craigslist Quickly & Safely

Definitely put the cars in your name and pay the taxes when you buy. This is a mandatory class in order to get a dealers license in this state. Sorry folks, I like many of you I thought that the magic number was 6. There are plenty of other side hustles on this great site that will put some extra cash in your pocket!

Jeremy, I was only trying to pass on what I found out at a State of California Sanctioned class. The test that is given MUST be passed by anyone who wants to take the test in order to be licensed by the state. In truth, I had researched for a long time, and could only find hearsay. I myself operated under the belief that the state of CA allowed 5 sales, but I could never find it written anywhere. Really good post by the way, I enjoyed it.

California DOES not allow you to ANY vehicles for profit without a valid DMV retail dealers license!! And were they major? Your readers should read this before buying anything or taking any of your advice flipping cars. All that advice and nothing on this? Someone selling a dealer license course that says car flipping requires a dealers license? Does it make sense to stick with a car you love and have owned 4 of them… My thinking is I know the car all the way around. Your email address will not be published.

START HERE BLOG PODCAST ABOUT. Ideas Online Business Blogging Self-Publishing Freelancing Service Businesses Consulting Coaching Ecommerce Amazon FBA Investing Real Estate Peer-to-Peer Lending Saving Money Hustle Productivity Progress Reports. An Intro to Flipping Cars Share Posted on February 29, March 21, by Nick Loper. February 29, at 7: March 3, at 4: May 29, at May 17, at February 29, at 4: March 3, at 9: March 3, at 3: March 3, at March 3, at 5: March 4, at 4: March 11, at 3: May 6, at 1: July 29, at 2: June 26, at 9: Hello, I have a question about title transfer and how you handle that.

July 27, at 9: July 28, at 5: July 29, at 3: July 29, at 4: October 5, at October 12, at November 23, at 3: See California Vehicle Codes and November 25, at 9: December 15, at December 29, at 8: January 7, at 7: January 8, at 5: February 24, at April 4, at 3: Leave a Reply Cancel reply Your email address will not be published.

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