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anyone buy and sell cars?

Discussion in 'The Lounge' started by LKJR, Sep 13, 2006.

  1. LKJR

    LKJR 1/2 ton status

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    went to an auction with a dealer friend today and im hooked...thinking about getting a dealers license. Anyone do this? what is needed as far as insurance, etc? thanks
     
  2. Avery4jc

    Avery4jc 1 ton status Premium Member GMOTM Winner

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    My dad has done them before, mostly for motorcycles and it's great! Depending on how many you buy and sell each year it's well worth the fees to get your license.

    After a while they just did them online which makes it very easy. Just sit back and it flashes across the screen w/ a timer and they have your bank account information so if you want it just bid, if not then kick back for a minute until the next lot.

    -Avery
     
  3. cbbr

    cbbr 1 ton status GMOTM Winner

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    The insurance (at least in La.) is wicked expensive. its called "garage owners" liability and is required by law here.
     
  4. diesel4me

    diesel4me 1 ton status Premium Member

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    not as easy as it looks..

    I have 2 friends with used car licences that buy 5 or more cars,SUV's and trucks every week or two..many are in decent shape ,but need work before you can just put them out on the lot for sale..many others are JUNK in disguise,and end up being brought BACK to the auction and sold off as parts at a loss..

    One example--last week they bought a 1995 Nissan Pathfinder--nice looking truck,68,000 miles on it--flawless body,good drivetrain,etc..but the rear frame rails behind the tire on one side where rotted badly,and crumbled as soon as he touched it--yeah,it was his "buyers" fault fot not looking more closely at it..but they paid 1800 bucks for it,and lucky for them,a guy bought it after they had a welder patch the bad spot up for 2500,and he's shippin it to AFRICA to be cannibalized for parts anyhow!:eek1:

    Another truck,an Isuzu Rodeo,was bought for 1200 bucks--same deal,looks and runs PERFECT,has low miles,etc..but someone J-B Welded two peices of copper tubing into its gas tank sending unit,which was badly rotted--then they used that spray foam crap to "seal" the tank to the underside of the floor!...it's going to be a 400 dollar repair to get a new tank,sending unit,and the rest of the underneath is cripsy as well cooked bacon!..so they decided to bring it back to the auction..yes,the guy who bids on them for the guy doesn't crawl underneath any of the ones he's bidding on evidently!..

    Many of the cars have bad trannies or engines,and are doctored up with STP or Lucas oil treatment,or they fail shortly after they are sold..my friend deals a lot with local junkyards,and can get low mileage engines and tranny's pretty cheap,so he doesn't hesitate to buy cars at auction that say "bad motor" ,etc..but its hard to make more than a grand on them,if you have to pay 1500 bucks for the car to start with..

    One car they just got,a nice Dodge "Cirrus",had a tranny put in just before it went to the auction..it wouldn't start after the swap,so the owner auctioned it off..we found it was the "crank sensor"..and its in the WORST ,most inacsessable spot they could have put it in,and it BROKE OFF in the bellhousing when we atempted to replace it!:doah: --might have to pull the tranny out AGAIN!...this is what you'll deal with on a daily basis,should you decide to do this for a living!..that,and people who come back whining that their 2000 dollar car has a slipping tranny,wont pass emissions for a sticker,etc..I'd rather fix and sell lawnmowers!.(no titles!)..:rolleyes:

    Here,since we now have over a dozen new car dealerships right in my front yard practically,there are many decent cars that get traded in thet need little or nothing,are going right into the crusher,rather than them wholesaling them to the auction or used car dealers--in fact,they are buying many from the junkyards instead of the auction now due to this..but titles get labeled "salvage" the minute a junkyard gets the cars,and that often leads to headaches at the RMV..I'm not trying to discourage anyone,but be aware its a pretty hard way to make money in my opinion..fixing cars is better than buying and selling them if you ask me..thats bad enough!..:crazy:
     
  5. Z3PR

    Z3PR Banned

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    I've wanted too get into buying and selling vehicles for years now. I've really wanted too buy junk vehicles and part them out. I know there would be a few that I'd have too put back together every now and then. My biggest problem is no room for them.
     
  6. diesel4me

    diesel4me 1 ton status Premium Member

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    I wanted too also,but..

    I had the perfect yard to start a mini boneyard here,before my mother sold the lot next door--we still have 2 acres,so room isn't a real problem--its the fact its a yuppie infested residential area that would prove to be the main deterrent..bussiness cant be conducted legally in a residential area here,unless you know who's penis to kiss...:doah: I never tried getting a variance,and now that I'm getting too old to do it like before,I don't really care too..and I had enough of junk piles in the yard anyway..

    I decided to leave it to the junkyards to do the stripping and selling of parts..when I worked at one,it was great--had dealer plate I could use,I could buy stuff at auction and store it there free,etc..no sense in cluttering up my own yard then!..but thats history now..:(

    I've made a decent sum by dealing with used lawn tractors and other yard and garden implements,and doing repairs in the past at home,in my shop..It's nice to be able to "pull a motor" with your bare hands,and not need a hoist!..

    But the last 3 years have been tough..many others started doing small engine repair,at the same time Lowe's,Home Depot,and Wal-Mart came here and sold cheap mowers--many "real" lawnmower shops folded up, and went under,including the one I bought all my parts at,only 3 miles away--..:mad:

    The guy there gave me lots of "freebies"like if I needed a carb,and he had one in his "junkpile"..,and had me do the work on some of his customers mowers at MY shop,if he was backed up!--I had it good for awhile..now I have to drive 13 miles to the nearest mower shop for parts,and 90% of the time I'd have to have them order the parts,and make another trip to pick them up!..it didn't take long before I was LOSING money,and spending all my time chasing parts,and wasting time and gas doing it..I haven't had ANY bussiness lately at all..

    I'm trying to find another "niche" ,so I can continue to stay and work at home,so I can keep a close watch on my ailing mother..so far, I haven't found anything suitable..thought about making sheds,but there is already a glut of places selling them in my area..I did make lawn ornaments for awhile,but only so many people need a wishing well or other such things--and the "China" stores sell that crap cheaper than I can make it for!..

    Maybe I should just convert my garage into a bar room,or a hoar house..:thinking:
    its about as legal as repairing cars or mowers is!..:crazy:
     

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