Buying and selling vehicles

[05caddyext]

So in WI you can legally sell up to 5 vehicles a year without a license. I'd like to buy and sell a few vehicles here and there just for some extra $$. How do you go about doing this legally? Or do you just not register in your name when you buy a beater? I know you can't legally sell a vehicle without your name being on the title, just went through this last year with jerk who never registered a van I sold him, and he racked up a bunch of parking tickets in my name.

[animal]

Buy it, title it in your name, pay the tax, and sell it the normal way. make them sign the title in front of you.

Way better ways to make extra coin though... this seems like a headache.

[-stew-]

I like your optimism that you can just go to the profitable car store and buy a car you can flip. Good luck with that.

[05caddyext]

Im not talking about 100 cars a year. I have enough cash on hand all the time so I know I can do it. When someone has something I think I can make money on, I can buy it without having to worry about loans or whatever. I just go buy it. And the profitable car store is called craigslist. Ever hear of it? Constantly people selling stuff for less than it's worth. Especially right now, people need xmas money.

[spooln30]

The best time every year to sell cheap used cars is during tax time. Usually they will sell within a day or two from posting and even sold some just hours after posting them. Referring to cars with prices ranging from $1,500-$3,000. If you have the right models they will sell quick. The worst time of the year is now. Sometimes you'll have vehicles sitting for months and months. I agree though there are better ways to make cash but if you like fixing cars go for it. What I can't stand are the tire kickers that just waste your time or low ball the crap out of you. Trust me there will be a lot of these types. A couple cars that people love and sell quick are mid to late 90s Toyota Corollas and 97-01 Grand Prix's. I don't know why Grand Prix's are so popular because IMO they are nothing but money pits. If you know someone with access to the auto auctions, Greater and Metro, you can find vehicles for good prices and only need minor work but you'll need all cash in order to get the titles. Another way to get vehicles for cheap would be to place ads on Craigslist for buying junk cars. I've ran across some decent cars that only needed little work so I fixed them and sold them. The ones you don't want you just quote them a really low price for junk cuz they all are trying to get top dollar. I've even had ones that needed nothing but the owners just bought a new car and don't want to bother with selling it. Good luck with your adventure. :)

[BoosTT]

So in WI you can legally sell up to 5 vehicles a year without a license. I'd like to buy and sell a few vehicles here and there just for some extra $$. How do you go about doing this legally? Or do you just not register in your name when you buy a beater? I know you can't legally sell a vehicle without your name being on the title, just went through this last year with jerk who never registered a van I sold him, and he racked up a bunch of parking tickets in my name.

You are better off flipping something besides cars. Boats are vary seasonal, for example. My best margin flip to date was a Hensley arrow trailer hitch. $400 into $1600 within 36 hours and picked up with in 48 hours.

[Wagonbacker9]

For all the money you make on 3, expect to lose your shirt on one.. if you're good you'll end up square, if you're fantastic you'll make a little. Thats been about my ratio over the years of "flipping" cars, though I always bought them to drive for a period, not exclusively to flip.

If you wanna do it for fun, great it would probably end up being less costly than modifying cars, just don't think its going to be a "lucrative investment".

[pOrk]

I've only lost money on two cars and one bike, I've flipped a few knowing I was buying them TO sell them right away. The rest I bought for me and changed my mind on or just kept less then a year. Gotta pay the right price and know what your buying is all. I only buy them to flip when I KNOW I can make 20% on the deal, otherwise not worth the risk for me.