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"I’ve been in the car business for nearly 15 years and I still learned a lot from your book. The info saved a lot of headache, frustration and money. Thanks so much. We are surviving during this recession using some of the concepts I picked up from your book. Very well written."
You can make good money buying and selling used cars in small towns, big cities…during roaring economies…and deep recessions…and you can do this anywhere in the free world.
The really cool thing is that the demand for used cars is ever-green, which makes the business of buying and selling used cars for profit one of the few true recession proof businesses.
Well, when you buy a new car and factor in the monthly payments, full-coverage insurance, gas, maintenance and repairs, its easy to see why even a "cheap" new car costing only $15,000.00 out the door has become totally out of reach for the average consumer.
So its no wonder that more and more buyers either can not afford to buy a new car, or they refuse to buy something that will lose HALF its value in the first 3 years!
I’ve received a few angry emails from people telling me I’m a scammer and full of BS because they say there is “no way anyone would sell a car for less than its worth.”
1) Seller doesn’t know car is worth more: If a seller doesn’t know how to price a used car (and few do), then the tendency is to throw an asking price out there based on a guess without knowing if its over or under-priced.
2) Seller knows car is worth more but they don’t care: People lead busy lives and cherish what little free time they have. That means some sellers don’t want to spend their entire weekend fielding phone calls and showing their car just to make an extra $500.00 or whatever. So they sell it cheap and fast just to get it over with so they can enjoy the rest of their weekend.
3) Seller is desperate: I don’t know about you, but I’ve faced situations in my life where I was low on cash and had to pay bills…now! Well, sometimes the only way to get out of that bind is to sell something fast and cheap, and sometimes the thing being sold is a car.
4) Seller thinks car needs major repairs, but it doesn’t: I’ve bought lots of used cars for less than what the sellers could have sold them for because the seller assumed their car needed major repairs…but it didn’t. They panicked and unloaded the car cheap because they thought “Oh my gawd, I better dump this pile now before it breaks down and won…