Flipping cars

[Mascas]

Hello to all Im new here and posted something simular on General buisness,but saw after my search that most questions about this subject was here. so here it goes.
I have been thinking of buying a few cars a year,put a good polish and tune up on them and selling them for a profit.
I am a mechanic by trade and can fix pert near anything you get to me.
I have a good job as a mechanic for a large company in Kansas city Mo., So I dont NEED the money but would like to retire early and give something to my kids who are...2 1/2 years for one and still expecting the other.
Im a little confused though. I think that Missouri law reads that I need a lot,a picture of me and my lot with a company sign to get a dealers license. I need a license if I sell more than 6 cars a year....I think..couldnt find many websites that just spelled it out for me.
Should I buy and sell until I reach the six car mark,start to get my dealers license now while Im buying and selling ? Can i use another persons lot and sign,or buisness name....dear god this is confusing...can anyone help me with their advice?

[plkalra]

Mascas,
Why not start the process with a single car as a private individual versus a business and see if you like the whole concept. You may find that the time/energy it takes to fix/tune up/polish a car is not worth the return. You're fortunate that you can test the model without too much commitment.

Or, depending on the types of cars you look for, this can turn into a cash cow. You may want to look into purchasing cars from insurance companies; if the damage is more cosmetic (i.e. stolen seats, headlights, stereos, etc etc), it may be easier to repair and sell.

[SuperMxyz]

If one buys a car and does not pay sales tax/register it, is that ok (assuming it's not driven around.) How many vehicles can a non-licensed individual sell per month?

[bwoj]

I understand you can get a pretty good deal on cars at the auto auctions. No warranty and just a little bit of time to walk around the cars and visually inspect so it's pretty well geared towards dealers. So if you are doing the work to fix them up and are pretty qualified to assess their mechanical condition visually, you could do well.

[Danny-B]

Of all the "mature" markets around, in the car arena I think there is room to make money. Whether you will "retire" early on it, depends on how motivated you are, how savy you are, and how many people you can eventually get to work under you.

Start with one, when you sell four cars then look at a license. Even with government licesing if you sold 8 cars as long as you were in the process of doing the right thing, your not likely to go to jail or anything stupid like that.

[J_Huzla]

As said above buying and selling cars has quite a good profit margin in it if you know what your doing, buying from auctions and perphaps advertising on ebay, even if you have no intention of selling on ebay would be quite a good idea.

J_huzla

[Mascas]

Well thanks for the insight.Good to hear from someone else to kinda boost my confidence..

[DealYourCars]

I noticed your question about flipping cars. You may want to try DealYourCars.com and ask on the forums there about flipping cars and buying and selling cars for profit. It is a great, fun way to earn a substantial extra income. Many private individuals that flip cars use the site, and it is growing quickly.

See you on the forums, we are currently updating the site. Good luck!

[Mega B]

I dont have a clue about selling cars etc if that is what you like doing my guess would be aim at a niche market and try and take advantage of the very high petrol prices that we have and this will only get worse so people will look for cheaper and smaller cars to run.

[DealYourCars]

Mega B has an excellent point. People are trying to sell their gas guzzlers for fuel efficient cars. This represents an excellent opportunity for deals on less efficient cars. And, if you are selling an efficient vehicle... even better! Lately, people have been flipping cars that are smaller with much success. Good luck!