Buying Cars Wholesale

Video Transcript

"If one is wanting to become a motor trader slash wholesaler, what one would do is want to get in well with the used car manager at the dealership that he or she thinks has the nicest trade ins. The nicest trade ins, are the one's obviously, that come from a one owner, ones that are the cleanest coming in, but the nicer dealerships, normally not all the time, have the nicer trade ins. So if you get in well with the used car manager, if you have a good relationship with that dealership for whatever reason, you'll normally be able to get those trades and then the nicer the trades, hopefully the more money you can make selling those. I don't know any other way except getting in touch with a used car manager, walking in, introduce yourself, let him know you're in the business, but once you get in well with the used car manager and whatever way you do that, take him to lunch and then, you know, don't forget his birthday, buy him something for Christmas, all that's important, and then you have an opportunity of getting some good trades and hopefully be able to wholesale those and make a little bit of extra money in your pocket. The obvious is to have a wholesale license. You buy a wholesale license. Each state is different on how you get it and how much it cost. Normally, it's a couple of hundred dollars per year to have that, but once you have that, buying cars wholesale would be just going through the trade ins at the dealership took in during the week or the weekends. So, if you show up on a Monday, an early Monday, and that's okay with the used car manager, that's normally the best time to go through the cars that are available for wholesale and the cars that are available for wholesale are probably ones that, well, the dealership aren't going to keep for reasons such as over a hundred thousand miles, cars that, you know, may have some sort of paint damage, may have some sort; there's a reason that the dealerships not keeping that car. It doesn't mean that it's a bad car, it just means that they choose to wholesale that for maybe liability reasons. Maybe they're going to wholesale that because that's not their kind of customer that comes into the dealership. Many different reasons a dealership would wholesale a car, but one would want to time that just right and be in good with the used car manager to make sure they get the cream of the crop, their pick of the wholesale trade ins."