How many of you have done this?

One of my friends was looking for a quick few bucks so I bought this 1994 Chevrolet Cavalier with 35000 miles...the car is immaculate inside and out.....now the kelly blue book has it valued at $1750.00 and I purchased it for $300.00.... Now what im wondering is......how many times in a 1 year time span can I buy and sell cars....is there even a limit? My ultimate goal if you will is to keep selling and trading up till I eventually get a practically new car....so say for instance that I sell this car for at least $1500.00 and then I put in another $1000.00 and look to do the same thing with a lil bit better of a car...you know look for a really great deal......im guessing about after five transactions like this...that I could probaly get a new car....with only spending around $5000.00.... not including taxes and what not....Is this something thats feasible?

dont worth the trouble IMO. theres too much company that buy big bulk of used cars from auctions and then sale them like 300$ + auction price... pretty hard to be competitive in that kind of bizz but if you got good connections, maybe it still doable... ;)

Its feasable bro but its tough to keep finding the steals to keep it going. I know people who do it.. Good job on the purchase

my friend does this... he has a new car like every month almost. Buys it cheap... drives it a little then sells it. He normally makes $500-$2000 a car plus he used it for like a month

A buddy of mine does this exact thing.It's actually illegal to do,because you need a dealership license.But he pulls it off.He gets free advertising from the paper as well.He keeps changing his cell number after the third add.
I'm sure if you only do it a few times a year,you won't send up any red flags.

It's definitely worth doing but you want to check into your state's tax regulations. For instance, in my province I believe a person can do the vehicle shuffle six times per year and not have to bother with any taxes above and beyond any sales tax, if applicable. Of course, you can do it in the wife's name the max number of times also. Pull my finger.

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Originally Posted by mass junkie

One of my friends was looking for a quick few bucks so I bought this 1994 Chevrolet Cavalier with 35000 miles...the car is immaculate inside and out.....now the kelly blue book has it valued at $1750.00 and I purchased it for $300.00.... Now what im wondering is......how many times in a 1 year time span can I buy and sell cars....is there even a limit? My ultimate goal if you will is to keep selling and trading up till I eventually get a practically new car....so say for instance that I sell this car for at least $1500.00 and then I put in another $1000.00 and look to do the same thing with a lil bit better of a car...you know look for a really great deal......im guessing about after five transactions like this...that I could probaly get a new car....with only spending around $5000.00.... not including taxes and what not....Is this something thats feasible?

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Do you have a dealers license?? If not then you might run into some problems after buying/selling X number of cars. If not then it would definitely work, but it seems to be one of those things that look great on paper and work but in real life is very difficult but can be done.

Peace

Farmer

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Originally Posted by chicamahomico

It's definitely worth doing but you want to check into your state's tax regulations. For instance, in my province I believe a person can do the vehicle shuffle six times per year and not have to bother with any taxes above and beyond any sales tax, if applicable. Of course, you can do it in the wife's name the max number of times also. Pull my finger.

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Yup...

I have done this bro.. it's called 'Flipping Cars'... I build a car for cheap, then sell it for a nice profit.. :hello:

Well Im in no rush to do this.....and I def will not be going through a dealer.....I will put this in the flyer at an asking price of say 1800 and then have a lil room for bargaining power...... I see Hondas hold their value unlike any other car...so I think my next move will def be a honda of some sort.. Now I wonder if it would be a good idea to sink money into the honda in terms of some nice rims....but then I guess I would be targeting a certain type of buyer then...hmmm I'll have to give it some thought...thanks for the input

Hondas have a very low depreciation rate. Very good cars to resell bro.

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Originally Posted by Maraxus

Hondas have a very low depreciation rate. Very good cars to resell bro.

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Even though they are the number#1 car stolen in the Miami area.

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Originally Posted by mass junkie

Well Im in no rush to do this.....and I def will not be going through a dealer.....I will put this in the flyer at an asking price of say 1800 and then have a lil room for bargaining power...... I see Hondas hold their value unlike any other car...so I think my next move will def be a honda of some sort.. Now I wonder if it would be a good idea to sink money into the honda in terms of some nice rims....but then I guess I would be targeting a certain type of buyer then...hmmm I'll have to give it some thought...thanks for the input

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Lots of gullible Rich Kids out there just dying to spend their parents' money on riced out Hondas, so why not score some $?..... take advantage! (I'm sure you're used to that term by now ;) :lol: )

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Originally Posted by Da Bull

Even though they are the number#1 car stolen in the Miami area.

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Yeah they are.

I'm pretty sure we have the same rule here in Florida as Chica has in his state.....fives times per year....anything over that and you'll be needing a Dealers licenses.

What wrong with what you already have Mass? Unicycle not cutting it anymore.....mom's making fun of you when you pick up the girls from school? I told you once that they would stop picking on you if you wore the clown outfit when you drive up to the school. hahahahaha

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Originally Posted by Juggy'sTwat

I'm pretty sure we have the same rule here in Florida as Chica has in his state.....fives times per year....anything over that and you'll be needing a Dealers licenses.

What wrong with what you already have Mass? Unicycle not cutting it anymore.....mom's making fun of you when you pick up the girls from school? I told you once that they would stop picking on you if you wore the clown outfit when you drive up to the school. hahahahaha

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He lives in B.C...(diff. country :p )