Looking into selling a car or two on the side once in a while. My questions are:
-do you have to have to have a dealers license to go to an auto auction?
any input is appreciated. Thanks
You’ll need an auction pass or someone that has one. Cars drive through the lane and the bidding starts. Seller decides whether or not they want to sell and you sign a slip. You have to have a way of paying for the car, right there and then. It’s not hard, just fast paced and you’ll probably fuck it up if you’ve never done it before. Adesa is the largest local auction, but it’s mostly garbage and cars that dealers don’t want. You’ll want to check out auction prices and have a quick way to scan a vin for a carfax, so you’ll want to download and buy the autoniq app. Good luck.
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My advice, find someone who can buy a car for you and has a line of credit/floor plan set up at the auction. I’d do it for you, but I really don’t have time.
You’re probably best sticking to autotrader and ebay for your vehicle purchases.
hm interesting. So id need to get a pass from someone who has a dealers liscense and borrow a pass from them or go with them to the auction? Ive bought a few cars from autotrader and ebay and craigslist but its hard to make any kind of profit off of cars from there because people always want almost right near book value on cars id be interested in selling.
If you’re going to sell/flip more than 5 cars a year, you need a dealer’s license.
IB4Krant
Besides the 5 limit, if you display 3 cars for sale at one time you are quilty of being an unregistered motor vehicle dealer. The fines can get kinda hairy, like $1,000 per vehicle
I wont be selling ore than that maybe 3 at most a year so ill be good with that.
I wouldnt really display any at my place Id just list them on craigslist and places like that.
The auction is no different. The used car market is insane right now and its astounding what some of the dealers pay for the garbage that runs through the auction.
want a simple answer… YOU DONT HAVE THE TIME (6 to 10 months for all the paper work to go through) OR MONEY (about $5,000 to get up and running not to mention the bonds and other random shit you need if you want a dealer plate as well) TO DO THIS.
now for the good news… just search craigslist. I have been going to adessa/dansville for years and in the past couple years I have made way more easy money by buying off private sellers off craigslist and fixing up the cars then selling them back on craigslist or running them through the auctions to sell.
I feel like a lot of people always ask this question…
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and judging by your “car sold roll call” or whatever the hell is at your bottom sig it looks like your just buying and selling mid to late 90’s cars. so this wouldnt make financial sense to spend so much money on low value cars like that.
and FYI i have you beat…I have sold 13 vehicles so far since last year ;-p
The cars in my signature are the cars ive owned in my lifetime and is missing 4 more to that list. They were all just my personal cars I drove and had fun with none of them were sold for profit. If anything I lost money on most of them but I like cars and having new projects to mess around with.
The one car I bought and sold for profit was a 1998 civic I bought for 2500 and sold for 3600 with out putting a dime into it.
But on that note of auctions it seems like its not worth the hassle and Ill just be sticking with craigslist fix uppers.
Good choice lol good luck, and a word of advice,keep working up when your buying cars, start with 2 grand sell it for 3 use that 3 and buy somethin sell it for 4 etc. the higher value cars you buy the better your customer base will be as well. After a couple of $2-3,000 cars I learned quickly how many poor and stupid people there are in the world, seems like every car I have sold over $5,000 the people are legit and not going to dick you around
So when you buy these from people Im guessing you dont sign the title because then youd be paying tax right?
you gain a lot of overhead acquiring a dealer’s license. doesn’t pay for itself unless you do volume. if you’re only doing a few a year, stick to craigslist.
:snky::snky:
eBay can be very rewarding as well,both buying and selling. You just need to be clear in the description that a high auction bid is not a free pass to come take a test drive and tire kick,defeats the purpose of an auction.
I went to the big Manheim auction in Fort Lauderdale a couple times with a friend who is a dealer. There was a ton of junk trade in cars I’m surprised that anyone wanted. Some even had trouble staying running to get over the auction lanes, and others were smoking so bad I couldn’t believe it. I was looking for a nice southern car for my brother, and he ended up buying a lexus from an old man in miami instead (from craigslist).
Manheim is an awesome event, you will never see so many high end super cars in one place…crazy money there
I just went to Adesa Orlanda in February. They have a Bentley lane, lol.
manheim is way more baller than adesa
edit: manheim condition reports > adesa.
adesa condition report = whatever the fuck we want to put here because we can lie if we want to