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The thought of making money by flipping cars from auctions or flipping surplus vehicles obtained at auction is very attractive to a number of people. And, there’s good reason for this: there is most certainly good money to be made by flipping cars from auctions and the process can be very interesting and fun.
It’s possible to obtain used cars from auctions — be they government surplus auctions, or private auctions of used or surplus vehicles — for quite literally pennies on the dollar. It’s possible to find automobiles that are able to be purchased at substantial discounts and then turn around and sell them directly to private buyers for a higher price, simply because most buyers either aren’t aware that such auctions even exist, or, if they do, they don’t know how to go about locating these auctions nor how to take part. Or, if you’re mechanically savvy, there are even greater profits to be made flipping cars from auctions by acquiring automobiles at auction that require some minor work, putting in the work needed, and then flipping the cars for a substantially greater markup.
The one hindrance, however, that many people are likely to encounter if they have a serious mind to regularly earning a significant amount of money by flipping cars from auctions, is the need for a used car dealer’s license. In many places in North America a person is limited to only being legally able to sell a very small number of either new or used automobiles every year before they are required to obtain a dealer’s license. The exact number of cars one is able to legally sell in any given year without needing to hold a valid used car dealer’s license varies somewhat depending on location, but in most jurisdictions the number of automobiles one is legally able to sell annually is limited to just three vehicles. That equals just one sale every four months. Of course, the profits which you’re likely to earn by buying and selling only three used cars in a year isn’t very likely going to be worth your while.
Flipping Cars From Auctions — The Reality
The reality is, if you seriously want to turn flipping cars from auctions into an actual side business, or something more, you really are going to need to acquire a valid dealer’s license. Unfortunately this is not easily done. The process is a convoluted, somewhat confusing and very often painful experience if you’re not familiar with the ins and outs of it. Fortunately, there are experienced people out there, who will act in a consultancy capacity, whose business it is to help you through the process and make the act of obtaining your own used car dealer’s license as simple and painless as possible.
If you’re thinking seriously about earning regular money, either as a hobby, a side-business or part-time business, or even as a full time business, by flipping cars from auctions, the fact of the matter is that you’re going to need a used car dealer’s license. And, unless you have experience obtaining a dealer’s license and know the ins and outs of what is required in order to obtain one, you’re not extremely likely to be successful in your endeavor. You’ll most probably need to use the services of someone who is knowledgeable and has experience helping people like you to obtain a dealer’s license.
One such person who works with people in order to help them obtain their own dealer’s license is Don Massey — a licensed car dealer from Colorado. Don has more than twenty years of experience in helping people to obtain used car dealer’s licenses.
Probably the best part of holding a valid dealer’s license is that the dealer’s license will give you access to dealer-only auto auctions that take place all over the country almost every day. Holding a valid dealer’s license also gives you access to proprietary databases accessible through the internet that are maintained by the auction companies that hold dealer-only auctions. These restricted access databases (open only to people who hold a valid dealer’s license) provide information on all of the sales made at these auctions — what cars sold, extensive details about each car and what they actually sold for. Having access to this information will allow you to price automobiles much more effectively than anyone who doesn’t have access to such information.
There’s absolutely no doubt that if you’re thinking about flipping cars from auctions on any sort of a regular basis, you really must hold a valid dealer’s license.
Flipping Cars From Auctions — Helpful Link Resources:
- Obtaining a Dealer’s License.
- Auto Auction Locating Service.
- Canadian Government Surplus Vehicle Auctions
- US Government Surplus Vehicles Auctions
- Government Vehicle Auctions Locating Service