All posts tagged auto fixing

When going on craigslist or other resell sites, it is easy to see plenty of good deals on used cars. When finding these deals, many think they can flip them and make more money. While it is possible, it is wise for a person to consider the implications of every transaction. Not only that, one should look a little more deeply. When doing so, a person can discover it is possible to make a lot of money fixing and selling cars. Here are four things to consider with this business venture.

Money

First and foremost, when you want to start this business, you will have to spend a lot of money. Think about it, it, not only will you need a large garage with a lot of tools, but you will need to buy the cars. This can easily cost you thousands of dollars. Of course, if you can resell the cars at a profit, you will make a lot of money and can justify this cost easily.

Space

As mentioned, when you want to fix up cars, you will need plenty of space. Not only will you need an outdoor area, but you will probably want an indoor garage. For this reason, if you want to resell cars and make money, you need to have a lot of free space. Ideally, if possible, you should do this at your house as you can, with ease, fix cars without getting bothered by neighbors. On the other hand, if you have to rent a place, you will have a hard time as it is not easy finding a cheap place to work on cars.

Parts

Now, when you buy a broken down car, you will need to get new or used parts to fix the problem. These usually do not come cheap, and you must shop around and look for the best deals. Either way, when thinking about profits and losses, you should factor parts. You could also buy cars just for the parts, and sell the parts to other car repairmen. You’ll need to package the parts and ship them, though. Look into the cost of parts bags for auto dealers, boxes, and shipping costs.

Risk

When unloading cars, you will always take a bit of a risk. For starts, you will put out a lot of your own cash on the transaction. Furthermore, when you buy a car, you may discover more issues when looking at it more deeply. For this reason, you should factor this into your business plan.

If you want to make money buying and reselling cars, you can make a lot of money. This comes at a risk. But, with enough research and hard work, you can make some serious cash.