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These days, the average cost of a new car is around the $30,000 level, so a lot of people, faced with austerity measures and an unsure future job market, are thinking about buying a used car instead.

This is nothing new on its own: there has always been a used car market, but the difference is that even white collar workers who had a dependable amount of job security are entering this marketplace. People are even more loathe to take on a loan than ever before in living remembrance.

One of the results of this is state of affairs is that there is even more opportunity for a used-car dealer to make a very good living. This article and the other three in the series, which have the same title, will attempt to give some advice on how to make a living out of the present market situation.

If you only want to make an extra couple of thousand, there are a number of ways of achieving this, but if you want to make a decent living wage, then you need to set up a company and become your own boss. This tactic can deliver an income of several thousand dollars from a single sale. One sale a week can soon add up to quite a substantial annual income.

Working for yourself does have its own risks and disadvantages of course, but the result is that you take control of your own affairs and decide your own salary within the constrictions of the income of the business. The first thing that you have to discern, as a possible entrepreneur, is whether you have faith in yourself to make the correct decisions more frequently than not.

There are other advantages to owning your own business than just the pecuniary ones. There is the academic trial; the independence to make your own decisions; independence. Essentially, freedom from having a boss.

However, this can be a drawback for some people: those who cannot work unsupported; those who like to slope off after making a few dollars and other immature kinds of people.

So, what abilities would you have to have to enter the lucrative used car market? Well, the opposite of those talked about in the last paragraph for a start. You will have to have discipline and the ability to study and follow the law, even, or even particularly, if you make your mind up to sail close to the wind.

You will also have to have a head for figures and you will also have to have to know the used car market and have a sense for people, both those that work for you and those that buy and sell with you.

This last point is incredibly important, because if you drive someone too far attempting to get the most out of the deal, the punter might just go next door.

It is this unique blend of person, technical and managerial skills which will earn you a living and maybe even a fortune. In the next part of this mini-series of articles, we will discuss setting up you used car business.

Owen Jones, the writer of this piece writes on a variety of topics, but is now involved with remote car alarms. If you would like to know more, please visit our website at Laser Temperature Gun.

In the first part of this short series on how to make money buying and selling used cars, we looked at which personal skills someone wanting to be profitable in this business would need to have. In the second section we looked at the best sites to locate such a business and in this section, we will look into acquiring our supply – our vehicles.

So, where can you get second-hand vehicles from? You will probably get people coming in off the street attempting to sell you their cars or trucks. That is usually a good supply of stock, if you carry out the essential checks to make sure that they are not stolen, but this source will dry up from time to time – particularly in the summer.

Other places to obtain supply are private auction houses, bankruptcies, bereavements and government auctions, where cars or trucks are often very heavily discounted.

At private auctions, anybody can bid for the lots that go under the hammer. Sometimes there is a minimum selling price, sometimes there is not, but the vendor must pay to enter his car in the auction anyway, which means that he has a vested concern in selling it to recoup this cost. If a car does not reach the minimum bid, try talking to the seller privately, you might pick up a genuine bargain.

If you are unaware of local car auctions where you live, try looking in the local paper under “Up And Coming Events” or in the Yellow Pages under “Actions” or “Car Auctions” or go on line and make the same inquiry including your region.

Government auctions are fantastic places to buy stock of any kind, including vehicles and machinery. These goods are usually either government surplus (new and used) or assets seized from the public. In The USA, it is best to register your interest in the auction catalogues of the two main governments auctioneers: the Department of Defense and the General Services Administration (GSA). Other countries have similar bodies, which your local council can assist you to get in touch with.

These government agencies auction off tens of thousands of vehicles or every conceivable description every year in the USA. Cars and other vehicles form a large slice of these auctions in monetary value – you would honestly find it hard to comprehend how many cars or trucks the government owns in the name of the people, from limos to lawnmowers. They all have to be replaced on a regular basis according to a schedule and the old ones are sold off.

The unbelievable fact that works so well in the business person’s favour, is that the government is more interested in clearing out their sheds of all this stuff to make room for more than it is in spinning a profit on it. All you have to do is register with the Department of Defense and the GSA and they will send you their auction catalogues automatically. This way you will have time to inspect the goods before you tender.

The next part in this mini series will discuss how you can work out the value of the items that are being auctioned off.

Owen Jones, the author of this piece writes on a range of subjects, but is currently involved with remote car alarms. If you would like to kcurrently more, please visit our website at Laser Temperature Gun.

In the first part of this mini-series on how to make money buying and selling used cars in the present economic climate, we looked at what sort of individual is suitable to set up a used car business. In this section, we will look at where to actually establish your used car business.

So, how do you go about establishing your own used car business? The first issue to realize is that no matter whether you are setting up a part-time or full-time company, your patrons and the government will expect you to behave and conduct your business in a professional manner and they have every right to do so.

If you do not behave correctly, you will present a bad image to your customers and get a bad reputation with them and you will get a bad standing with the taxation authorities and maybe the health and safety people too and be hassled by them with more that the typical number of check-ups.

Come to a decision what your main market is. Do you want to concentrate on used luxurious cars, middle-market or cheap vehicles? Or do you want to sell trucks, vans, buses or motorbikes? It is helpful to specialize, if your catchment area is large enough. For instance, if you live in a village miles from anywhere, it might not be worth specializing in second-hand buses, but used farm equipment might be a hit.

Pay a lot of attention to the location of your business. If you propose to sell one or two cars from classifieds, this is not quite so important, but if you have thoughts for the future, you might want to get a small plot that you can expand on later.

This plot should be in a highly visible location, say beside the highway that leads into town. If your location is less than ideal, you will have to spend a lot more on advertising, which is something to keep in mind, when trying to work out what you can afford to pay for the lot.

Another important issue to bear in mind before signing any contracts, leases or mortgages, is to find out whether you are allowed to start a used car business in that location. Some countries have a highly complex set of rules and regulations governing which types of business can be located where. This is frequently called ‘zoning’. Sometimes you can get a ‘zoning variance’, but not every time.

Once you have your site and have decided what kind of used vehicles you want to specialize in, you ought to concentrate on establishing a unique corporate image – one that is instantly recognizable to local people as denoting your business. Use a motto, an emblem or a motif or a combination of these, put up a sign and sign-write your van or tow-truck with them as well.

In the following section of this mini series, we will be examining how to locate your stock in trade – your vehicles.

Owen Jones, the writer of this article writes on a range of subjects, but is currently involved with remote car alarms. If you would like to kcurrently more, please go to our website at Laser Temperature Gun.