You get the picture: Im just not a car person.
But Ihaveprofitably bought and sold used automobiles.
In fact, I discovered that I couldmake money fromused carswithout even touching them.Interested in doing the same?
All you need is to have saved up a bit of cash.
I gave him $2,300 to buy the thing and another $900 for repairs, licensing and insurance.
We would split the profit.
John loved cars, knew where to get a transmission repaired inexpensively, and was a natural salesman.
Two weeks later, he sold the car in the parking lot at work during a break.
I made $450 on that deal, without ever driving the truck.
Want to Try It Yourself?
Fortunately now, unlike when I was doing this, you might quickly gather information online.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Carefully consider the personality of your partner.
Its likely that he doesnt save money well, since he needs you to invest as a partner.
That lack of budgeting skills is not a problem, but watch forrelevantcharacter traits and habits.
Again, it helps to start with a cheap car to test the partnership.
Your partner should know more than you about cars, since the partnership is based onyour moneyandhis knowledge.
Unless you consult an attorney or have it notarized, this unofficial contract offers little real protection.
Legal Matters
What about the legality of buying and selling cars without a license?
Determine that before you get going.
Each state has its own laws about when you gotta get a license to sell cars.
How Much Money Can You Make?
Your Turn: Have you ever sold a used car for a profit?
When you log into your bank account, how do your savings look?
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
