Selling Used Cars

[Waxman]

After a summer slump, people are buying our used cars again.

It's time to buy more cars for inventory. This is real work and takes real time. Lots of times on private sales you come up against people with high expectations about their car's value and you need to put in a low (to them) offer and be willing to lose out on a purchase without getting too upset. I've learned that the profit (or loss) is created not when you sell but when you buy. This applies to used car auctions, too, but that is not my forte yet.

 

[Whale of a Wash]

Your'e getting a little more Jewish, i even saved the son in law 20k by making him lowball on their house--it worked, not on price but specials.

 

[Waxman]

Just picked up a nice little low mileage Saturn ION. Looking forward to the fixing up and detailing and marketing. It's a fun part of the business.

 

[mjc3333]

After a summer slump, people are buying our used cars again.

It's time to buy more cars for inventory. This is real work and takes real time. Lots of times on private sales you come up against people with high expectations about their car's value and you need to put in a low (to them) offer and be willing to lose out on a purchase without getting too upset. I've learned that the profit (or loss) is created not when you sell but when you buy. This applies to used car auctions, too, but that is not my forte yet.

I've been selling cars along with the car washes for the past 20 years. You got it right..... the profit is when you buy the car, not when you sell it. Car auctions have a totally different breed of people (other dealers) to deal with. Good luck... buy low and sell high!!

Mike

 

[Waxman]

Didn't wind up with the Saturn I mentioned; got a 1999 Volvo S80 w/113k miles instead. Great car. Needs a heater core and some tires. Got a really nice deal on it.

I really have enjoyed the used car business so far; it is exciting and fun to me and with a detail shop it's fun to make the car look nice, too.