Buying/selling Cars?

navid_2

Aletank wrote:

If you have no expertise at the moment or any idea, I'd get a normal 9-5 job and buy the odd £500 car to sell on and see how you go about making money. That way your buying cars you can't lose much money on and any profit you make you can use to buy another car and reducing the risk of losing your own money.
You will learn where to get cars from, auctions etc maybe get to know dealers from auctions that would pass on their part exchanges they don't want to you.
There's a lot to learn No1 is to Buy cheap and sell on at a profit!!

Thanks for the tip!
I would like to buy cars for around £500 but where? I have been to some auctions but didn't see any small cars for this price. I think the small cars are sought after and not many of them get to auctions.
I found one car with potential of profit on ebay http://cgi.ebay.co.uk/ws/eBayISAPI.dll?ViewItem&item=4608459921&rd=1&sspagename=STRK%3AMEWA%3AIT&rd=1
The car didn't sell so I called the seller and he said the reserve price is £1400 and he has got offer of £1000. So I didn't make him any offer and wished him good luck!

Aletank

Cars around £500 is ideal 1st car territory for 17 year olds etc So best to concentrate on small cars with cheap insurance ie fiesta's, corsa's etc
I'd be looking in the local paper for car ads, Ideally with 1 or 2 owners and lowish milage below 80,000.
I remember my first car was a Fiesta, i live in Liverpool but was looking out of town for a car, around Southport etc. Out of the city's you usually find cars of this nature thats had the little old lady owner etc used for goin the shops a couple of times a week and been garaged etc. If you are looking out of town, find out what day the local free paper comes out and try and get a copy - Supermarkets or sweet shops sometimes have them.
A guy in work buys and sells cars, he seems to go through fazes of buying the one type of car, Calibras for a bit then MGF's, then maybe MR2's That way he gets to know the problems on the one make of car and knows what to look for or sort the common problems out that people can't be bothered fixing or think its too expensive to fix. Recently he's been buying Rovers with the Cylinder Head gone - he buys them cheap, fixes them cheap himself and sells them on.

navid_2

Thanks for the life saving advices!
You are right about buying small cars and targetting the first time buyers. My first car was also fiesta as it was the cheapest to insure and good in fuel consumption. I did buy only small cars while I was student as I couldn't afford the bigger cars.
I would like to start with small cars, ideally the Japanese ones as I found them more relliable.
Cheers!