Starting buy and sell car

[jansky]

my sister asking me if this is a good business?

She want to buy a second hand car at same time sell it? magagamit na sasakyan mabebenta pa

at least isa lang daw muna

any inputs guys?

thanks

[uls]

ok na business yan

pwede gawing career yan

[tidus1203]

You have to be very proficient in cars to be successful in BUY AND SELL... You should know parts prices very well so when you make an offer you know how much spread you can make from your BUY price and your SELL price...

[4JGtootsie]

You should also know and avoid vehicles with costly repair and components.
ABS system is a good example, electronic diesel fuel pumps is another. Good luck and we hope you the best.

[frenchtower]

Question: How are used cars priced in RP? Is there like a KBB system to reference the value of each car in the market?

[tidus1203]

No. Prices here are purely free market based based on demand and supply...

[MXFX]

this is what im doing on the side now. lots of research and patience esp the time it takes to find a project car and later dealing with all kinds of potential buyers. i hunt for urgent sales due to needing cash, lost job, or other reasons. i also use the ads to "forecast" what is selling well. in my case, i end up focusing on small cars. i also have a trusted mechanic, tire shop, and body shop in my area already so i get deals and even free inspections.

you can check my g20 thread on "me and my tsikot" subforum and i may have posted everything i did from buying, fixing, then selling. im 3 for 3 so far and on my 4th. my worst case scenario is i get stuck with a car im having fun with .

for the record, i have to thank this community again for keeping my interest in cars and eventually profiting from it. now im exploring the possibility of starting a small used car dealership.

[uls]

yep

that's the evolutionary path of the used car business

you start with 1 car, then 2, then...

you grow to become a used car dealership

notice here in the Metro there are a number of used car dealerships

the owners started from selling used cars on the side

then it becomes serious business

[frenchtower]

*mxfx

From what I know, under our state law, one person is only allowed to trade cars 5 times per year without being checked by the Franchise Tax Board and/or the Fed.

If you are already in this path, I suggest you apply for a dealership license. Wishing you all the best neighbor

[tidus1203]

Sa Pilipinas unlimited yan sa buy and sell and especially kung sideline ka pa you can get away with not paying any taxes or registration fees to the gov't...

Wag ka lang Ma-Ondoy, dahil malamang ipit ka na sa kotse na yan...

Parang stock trading din although mas mabagal!