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Hustling cars.

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RenegadeOfFunk

Joined: Jul 09 2006
Posts: 17


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Post Tue Jul 11, 2006 10:28 pm

More commonly known as going to car auctions, buying cars for **** cheap, and privately selling them for (usually) a more than decent profit. Anybody done it?

I know there are laws limiting the number of cars you can sell (at least in SC). but several cars at the public auction i went to sold for something like 2,000 but bluebooked for thousands more, even with the flaws that some of them had.

So has anyone had experience in this?
Rags

Joined: Apr 21 2005
Posts: 3527
Location: dayton


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Post Tue Jul 11, 2006 10:30 pm

at a certain point it becomes illegal i know in ohio, most people dont care you might get a letter from the dmv saying "why are you buying and selling cars" but if you just put on the title the price or less than what you payed, who's to say you just didnt like the car?
but imo its too much work. me and my cousin were going to fix wrecks and sell them with rebuilt titles but theres too much paperwork
RenegadeOfFunk

Joined: Jul 09 2006
Posts: 17


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Post Wed Jul 12, 2006 7:11 am

in SC you can buy and sell five cars per year without a dealer's license. You figure you make a few grand per car... that isn't bad for a summer job for someone in school, provided you bust your ass and sell all five during a summer haha
audio_excessories

Joined: Aug 20 2005
Posts: 1662
Location: Michigan/ Florida


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Post Wed Jul 12, 2006 7:24 am

I've done it recently....got myself a few cars for cheap, and bought 2 newer neons and a Grand Am to flip, took me all of a 2 weeks to unload them.....
thefiredogg

Joined: Jan 27 2004
Posts: 571
Location: Cleveland Ohio


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Post Wed Jul 12, 2006 8:29 am

it would be a nice business to get into.......

id rather just get something n make it my own which is what im doing now
Icedoutjetta

Joined: Sep 18 2005
Posts: 814
Location: Guelph Ontario Canada


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Post Wed Jul 12, 2006 9:09 am

dont you need a special permit or soemthing to buy car at auctions?
RenegadeOfFunk

Joined: Jul 09 2006
Posts: 17


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Post Wed Jul 12, 2006 10:05 am

you need a dealer's license to buy from a dealer auction, but anybody can go to a public car auction. at least in SC.

I think I'm going to try it. If it works I'll let you guys know.
ProjectRAGE

Joined: Mar 04 2003
Posts: 4504


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Post Wed Jul 12, 2006 10:31 am

My step dad does it, you can get kick ass cars for cheap, believe me if youd do it you would. He bought a 95 Chysler Sebring, pefect shape for $500, sold it for $2500, a decent profit if you ask me. He does it on the side to make money, its not like hes ripping people off or anything the cars are still worth what he sells them for, I dont see anything wrong with that.
Rags

Joined: Apr 21 2005
Posts: 3527
Location: dayton


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Post Wed Jul 12, 2006 12:04 pm

i wouldnt do it because its too much work and i would give them away for about the same price i got them for. i would only go to an auction like that with intent on getting myself a nice ride
RenegadeOfFunk

Joined: Jul 09 2006
Posts: 17


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Post Wed Jul 12, 2006 2:50 pm

I don't think you can classify it as hard work. be kinda fun anyways. buy a car, put it in your front lawn, take pictures, put 'em on autotrader, wait for the phone to ring.. shoot. i'd do it for a few grand
ProjectRAGE

Joined: Mar 04 2003
Posts: 4504


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Post Wed Jul 12, 2006 3:10 pm

Hard work? The hardest part is taking the chance on if it will blow up before you can sell it...lol No but seriously, its actually fun and you can make a good buisness out of it...Id do it more of a extra money thing tho...and I would have about 1000 cars in my back yard Im sure.. icon_lol.gif
Losing quickly

Joined: Apr 26 2005
Posts: 5706
Location: SC


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Post Wed Jul 12, 2006 3:14 pm

...this is going to be cool
Rags

Joined: Apr 21 2005
Posts: 3527
Location: dayton


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Post Wed Jul 12, 2006 3:48 pm

well "hard work" was selling my truck to pay for a lawyer.
it took 6 months to sell it
my cavalier was hard work selling because..well it was my baby icon_sad.gif

but what happens when no one buys it you know or at least no one for months?
the hard part is trying to get someone to buy it, also if theres always a new car for sale in your front yard, it makes you seem like your rebuilding cars and selling them
jol102001

Joined: Feb 12 2004
Posts: 5815
Location: Lake Charles, LA -- USA


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Post Wed Jul 12, 2006 6:30 pm

I just can never find info on public auctions!?!? never really looked that hard
FatManDan

Joined: May 30 2004
Posts: 2766
Location: Roseville, MI


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Post Wed Jul 12, 2006 6:43 pm

whn i hear hustlin cars i think street racin and trying to organize the race
GlowinPontiac

Joined: Mar 04 2004
Posts: 5959
Location: Central CT


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Post Wed Jul 12, 2006 6:50 pm

make sure you have somewhere to store the cars. in my town if you have more than 2 unregistered vehicles on your property you will be fined daily until you remove them.
Losing quickly

Joined: Apr 26 2005
Posts: 5706
Location: SC


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Post Wed Jul 12, 2006 9:30 pm

GlowinPontiac wrote:
make sure you have somewhere to store the cars. in my town if you have more than 2 unregistered vehicles on your property you will be fined daily until you remove them.


Lol, we are in South Carolina where some people mow their grass and they find a car. It's not like that where we live, but about a 10 minuate drive, and you can find some places like that.
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