Reply to "Flipping Cars?"

Good luck to you... I paint and repair wrecks for a living. Shure I keep an eye out for somthing I can just buy that needs paint and a headliner. Every time I buy one, I end up spending too much on it and then having to sell at a discount just to get it out of my way. I do know some very succsesful car dealers. They stick with late model cars they buy at auction. These late models have loan value...ie a car is only worth what a bank will loan on it. Not many people have 10 -15 cash for a car. Now, what my sucseful dealer friends do. The buy here pay here deal..where they finance their own sales. I have watched these guy's go from 1 lot to 2. I met a man once who said he bought 1 Mercedes a month and marked it up 1000 dollars and his goal was to sell 12 a year just to suppliment his regular incoma and always drive a Benz! I pesonally think too much of my time to spend it building a car that is not sold. If you want to flip cars. Get out to the auctions and buy under book value so if somone wants your car they can finance it through a bank or credit unoin. If you get what you expect to from your 2002 bmw....it would be incredible to me. Another word from the wise...wiser than me....You make your money when you buy the car, not when you sell. I am still amazed how little a used car can sell for.