Buying and selling used cars

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muscleman

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I have been buying and selling used cars on the side for about 2 years now.. just wondering if anyone else does this and if anyone has advice! Always looking to do better

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Check your state laws on "curbstoning" as it's illegal in many states. The number of vehicles you can sell without a dealer's license will vary from state to state. Here's what you can do in Washington State where I reside. "Washington law defines curbstoning as a person or firm selling five or more vehicles that are each less than 30 years old in a 12 month period. Under state law here, you can sell up to four vehicles that are registered in your name in a 12-month period. So once you sell any vehicle that’s not registered to you, or if you sell five vehicles or more, then you’re in violation of the statute".

"The most-common violation is people who sell cars without ever putting those cars in their name. They never transfer the title. The typical curbstoner buys a vehicle and gets some paperwork in lieu of a title, and then just passes it on to the buyer. They never have the vehicle registered in their name".
 
Any advice on making money

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Do you go to auctions, by something semi nice, then fix up and sell? I`d love to do a few here for some extra dough. Don`t you need something specific to get into an auction?
 
You need a dealers licence at most auctions but not all some you can buy a yearly membership

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There are people who go to auctions and buy cars for a small fee... You could get someone lime that to find a car for you. No more than you buy though there is always a couple if great deals on craigslist every month that you could take advantage of. I'd also suggest with your entrepreneurial spirit that you study accounting and finance in college.
 
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