Want to know a relatively easy way to make some extra cash? Try flipping used cars. Don’t think it’s possible to make a lot of money this way? Tell that to all the car dealers who do it every day. That’s all they’re doing is flipping. Who says you and I shouldn’t get in on the action?
Car dealers buy their cars at auction and pay pennies on the dollar. They buy a great used car for $3,000 and resell it for $12,000. In case you’re bad at math, that’s $9,000 in profit. What a lot of people don’t know is… you and I can go to these auctions too and pay pennies on the dollar.
What’s to stop us from going and buying a car for $3,000? Nothing. Who needs a car lot when you have a driveway? Park it with a FOR SALE sign in the window and make your own $9,000 profit.
Let’s say you do this just once a month –
you’d make $108,000 in extra money a year. Let’s say you do it more than once a month – well, you’d make more than that.
The key is buying a solid, cheap used car, and to do that you’ve got to get yourself to a car auction. That’s easy enough to do once you find some auctions in your area. The quickest and easiest way to do that is to use an auction database.
There are quite a few available online, but not all are created equal. Based on user experience there are a few sites worth using:
Car-Auctions.com is a WYSIWYG (What You See Is What You Get) site. For $29.99 you get unlimited access to their database of car auctions without a whole lot of other bells and whistles.
Seize Cars.com is another good database. For a one-time fee of $49, you get unlimited access to all car and truck auctions, and they also have more in the way of auctions for boats and houses and electronics. So, if you want to start flipping cars AND buy a family boat, this is a good choice.
Gov-Auctions.org was named America’s most trusted and largest resource for Government and police auctions. They also charge $49 for unlimited access to car auctions, as well as boats, homes, electronics auctions, etc. But they offer some things the others don’t that I liked.
For one, they have real 24/7 customer support. If you have a question – a real human being gets back to you with an answer. Pretty rare nowadays.
They also have a free auction tutorial which is not offered anywhere else. If you’re new to auctions, this tutorial will explain, step-by-step, how to get the car you want for the price you want.
Gov-Auctions.org also has a free car loan service where you can receive instant car loan offers with the best rates on the market without any of the usual hassles. A definite time saver.
Happy car shopping.
