Business Idea

[AdironRider]

Here in NH there is an auto auctioneer open to the public. I went and checked it out last thursday and was pretty suprised with how cheap cars were selling. 99 Mercury Sable in incredible condition went for 1400 bills, and will sell off a lot for twice that. I was seeing old Ford Taurus' going for 75 bucks. I was thinking that if I could buy up a few of them, turn around and sell em for 500 bills apiece, Id be making a nice little chunk of change for my teenage mind. What does everyone think? It seems like a nice little business plan to me.

[DEV0 E30]

Buy a semi so you can tow them all home at once. :D It is a way to make some change, however here in Arizona you can only sell up to 6 cars per year without a license, not sure if you have anything like that.

[bimmerphile]

one, you need a license (usually) to both buy and sell cars from auction

two, who do you plan on selling them to? your friends?

[AdironRider]

its not that hard to sell a car man. Just place a classified ad or slap a For Sale sign on it. Someone will buy it.

[UNHCLL]

one, you need a license (usually) to both buy and sell cars from auction

two, who do you plan on selling them to? your friends?

Capital Auto Auction off of RT101 right?

No license required.
Most of the cars rolling through there arent worth anything.

[Matt86es]

Wouldn't the sales tax fuck you up?

[UNHCLL]

Wouldn't the sales tax fuck you up?

NH = Sales Tax Free
No State Income Tax either

[AdironRider]

Live Free or Die baby!

Thats exactly the place. I was there on thursday and yeah most of the cars are real pieces of shit but Im not looking to make this my bread and butter. Just buy a few rides to sell for a couple hundred bucks profit every once and a while.

[UNHCLL]

you can give it a shot.
I think they have a buyers fee you have to pay if you want to bid.

unless you've got a truck and trailer, transporting them is a real PIA. $20/ea for a temp plate from DMV + Proof of ownership.

[kansas-ix]

heres an idea you know e30's so why not just hunt down some that need TLC or part some out to make the bread.

[AdironRider]

parts cars dont really just appear up here in NH, but it doesnt seem like a bad idea. Id like to minimize the effort involved too, so just buying a car and brining it home to let other test drive doesnt seem like to much of a hassle.

[robert325is]

i bought a '95 Ford F-150 for $500 at an auction and just put new tires, spark plugs, wires, etc., and a new brake rotor on it and sold it to a mexican lawnmowing company for 2k cash

[AdironRider]

thats really how easy it is. My Dad used to be a used car salesman in college and said its where the money is, compared to new car sales.

[brodee]

Don't forget some sort of insurance. You either need individual insurance on each car or you need to get a dealer's license and then get dealer's insurance.

Or you can take your chance without any and have some idiot test drive one of the cars and run over some 4 year old kid playing in the street getting yourself sued for everything you DON'T have and putting yourself in a situation of financial ruin for many, many years.