Most people are looking for ways to get cash for cars. Maybe you started out trying to sell your own car for a quick buck and you found out that it can be a lucrative business. Whatever it is, you are interested in learning more about the industry so you can make money on the side without having to quit your job.
It doesn’t matter if it is cash for cars, jewellery or services, what we are talking about is sales and business and you can use the same sales tactics in a stand along business as you would in an online endeavour, of course tweaking some aspects to make it more suitable to your particular business model.
As with all sales jobs, numbers is the key. The more people you reach, the higher your chances of getting that first all elusive sales. If you are an agent with a few cars you want to sell, you must make an effort of networking and meeting people who are not only looking to sell their cars, but other car sales agents as well.
Definitely you should be careful about dealing with agents who might not have the most reputable track record around. However, it is not a bad idea to make good business relationships with those you can trust and know people who are also selling cars as well. The commission might be smaller since you will have to share it with other people, but a small commission is still better than no commission. Eventually, as your network grows, your opportunities to make more money also increases—maybe even to the point where you can make this your sole business one day.
If you think it is easy to find car sellers and car buyers, then you will probably run into a bit more challenge when you come to closing the sale. Sometimes the paperwork and the processes that are involved can be quite taxing, especially if the seller’s car documents are not in order. These are some of the challenges of sales and being organized will help you greatly when you get into the second hand car sales business.
Make a careful research on the second hand cars that you are trying to sell. What is the fair market value of that car today? If you factor in the depreciation and for the more problematic cars, car repair costs, how much is a reasonable amount that you can sell the car for? In order to be competitive, you need to price your car slightly lower than the market value in order for it to sell fast. Advice your client on this if he or she wants to sell their car quickly.
Depending on the price of the car, you can either get a percentage of the sale, charge a fee, or if the price is low enough, buy the car yourself and sell it for a higher price. Of course the latter will take more of a risk than just being the agent. However, sometimes you come across a really good buy and if you are confident you can sell it right away, you will make more money flipping it quickly.
It might be small thing, but be sure that the car you are selling is presentable to the prospective buyers. A good car wash, wax and vacuum goes a long way in making it desirable to people and wanting it for themselves. Take a photo of the car at its best and use this photo to post on online car sites to lure in the buyers.
Always make it a point to be transparent with your sellers, especially your buyers. With the sellers, be clear about the commission you are asking and the fees for the processing and transfer. Ask them if what are the unseen problems in the cars they are selling and if there are, deduct the possible cost from the over-all price to be fair to the seller. Let the buyers know the possible car problems that they might run into so they can be prepared. They will appreciate the honesty and refer you to their other friends and family.
Use these simple tips and it won’t be long before your cash for cars business takes off and you’ll be raking in the money from the sales that you make.