Learning how to sell used cars at home is an excellent way to bring in additional income. Many individuals are doing this today and they are making a decent living in the process. There are several ways to learn how to sell used cars. Today, you’ll learn how to start this business with very low or no start-up costs. If the concept is applied correctly, an individual can make $50,000 to $60,000 a year. Please keep in mind that you must follow all local, state, and federal laws. Read on to learn how to sell used cars at home.
Things You’ll Need Difficulty: Moderately Challenging
- Cell Phone
- Used Car Listings
- Internet Access
Step 1 Finding Used Cars
Learn how to sell used cars at home by setting a price range for the cars that you are going to sell. Look in newspaper car advertising sections or used car magazines to find dealers that are selling cars. Find used cars to help sell that are in good condition and running properly. Use the Internet as tool to help you locate used cars. Friends and family members are also a good resource so you can find buyers for them.
Step 2 Used Car Dealers
Learn how to sell used cars at home by contacting used car dealers. Call dealers and ask them will they pay you a percentage or a fee for helping them make a car sale. Charge each dealer a percentage of the sale price for each customer that you send if they purchase a car. Try to get the agreement in writing from the dealer if you can.
Step 3 Contact Private Car Owners
Learn how to sell cars at home by contacting private owners that are trying to sell their car(s). Get paid this way. The private owner needs to sell a car; you agree to find a buyer and he agrees to pay you 6% of the selling price when you find a buyer. Locate a buyer for the seller at $10,000 and you will receive $600.00. Do this ten times a month and you could make $72,000 a year.
Step 4 Legal Issues and Taxes
Learn how to sell cars at home by paying taxes and dealing with all legal issues. Make your first $600.00 and start preparing to pay taxes. Visit your local city clerk’s office and ask the clerk how to apply for a license for selling cars at home. Call the Internal Revenue Service and apply for a tax ID number for the business. Phone your state’s Department of Review to get a state tax ID number. You’ll need tax numbers to pay taxes.
Tips:
- Always be truthful with the seller and the buyer.
- Place the cars on a website to show buyers.
- Establish several business relationships.
Warnings:
- Do not try to sell the cars, let the seller do their part.
- Try to deal only with individuals and businesses you can trust.
- Follow-up with the seller to make sure you get paid.
Reference:
Small Business Administration: Starting and Managing a Business-
5 Steps to Registering Your Business
http://www.sba.gov/content/5-steps-registering-your-business
Small Business Administration: Starting and Managing a Business-
Essential Elements of a Good Business Plan
http://www.sba.gov/category/navigation-structure/starting-managing-business/starting-business/writing-business-plan/essential-elements-good-busines
Resources:
OLX
www.olx.com
BackPage
www.backpage.com
Kijiji
www.kijiji.com
