How to Make Money Selling Cars

Learn how to make money selling cars without working at or owning a car dealership. Start small and stay small, or become a larger business with employees.

Instructions

1. Start by finding used cars in need of repairs. These cars can be bought below market value since they are not in great condition. Ask family and friends and check classified ads, online, auto auctions and parts stores to find these cars.

2. Purchase the cars based on your ability to repair them. If you are a great mechanic, you should have no trouble getting the cars into selling condition. If you are not mechanically inclined, you need to hire someone who is. That person can work for an hourly rate or for commission.

3. Repair the car to good running condition. Repair all cosmetic problems also. Have the car washed and detailed to get the most money for the car.

4. Price the car to sell at an amount high enough to recoup the money spent on the car, parts, repair work and wash and to include a profit. Add some room to haggle into the price since most people will buy after you knock off a portion of the price. This makes them feel as if they are getting a bargain.

5. Take the money and invest in more cars. Repeat this process and be honest, and you should have a growing business.

Tips & Warnings

• Evaluate each car before purchasing it. Make sure you can do the repairs and be able to profit.

• Don't price the cars so high that they won't sell.

Resources

• Sports Cars
• Hybrid & Electric Cars